Piramal Pharma revenue jumps 28% to 2,617 crore rupees in second quarter
Key Facts
Piramal Pharma announced on October 27 its results for the second quarter and first half of FY2027 ended September 30, reporting a 28% increase in consolidated revenue from operations to 2,617 crore rupees, against 2,044 crore a year earlier. The company swung to a net profit after tax of 5 crore rupees, after recording a loss of 99 crore in the year-ago period. Earnings before interest, tax, depreciation and amortisation rose 72% to 385 crore rupees, from 224 crore. The margin on those earnings widened to 14.7% from 11.0%. The company raised its FY2027 revenue growth forecast to 19%-20%, with significantly higher profitability expected.
The year-on-year comparison shows a recovery from a weaker base; second-quarter FY2026 revenue fell 9% to 2,044 crore rupees, from 2,242 crore in the corresponding period of the previous fiscal year. For the first half, revenue from operations rose 23% to 4,887 crore rupees, from 3,977 crore. Earnings before interest, tax, depreciation and amortisation for the six months increased to 669 crore rupees, from 389 crore, a 72% rise. The company nevertheless remained in loss on a net profit after tax basis for the first half, with its loss narrowing to 64 crore from 202 crore in the corresponding period. Nandini Piramal said first-half revenue grew 23% and the margin on earnings before interest, tax, depreciation and amortisation widened by more than 350 basis points.
The contract development and manufacturing segment led quarterly growth, with revenue up 36% to 1,424 crore rupees, from 1,044 crore a year earlier. Revenue in the healthcare products segment rose 32% to 849 crore rupees, compared with 644 crore. The consumer healthcare segment posted slower growth of 13%, with revenue reaching 359 crore rupees from 319 crore. In the first half, contract development and manufacturing revenue grew 28%, after falling 14% to 2,041 crore rupees in the corresponding period of the previous fiscal year. The company attributed its performance to demand, execution and operating discipline, and said order inflows supported the segment's growth.
The company added 22 new clients in the first half and hosted 110 client audits. Innovation-related revenue rose 24%, while revenue from commercial manufacturing of products protected by patents increased 39%. Drug-antibody conjugate services also recorded year-on-year revenue growth of 51%. The number of molecules in the Phase III clinical development pipeline rose to 28, from 25 in March 2026. These indicators point to an expansion in the segment's activity, alongside growth in quarterly and first-half revenue.
In the healthcare products segment, Piramal Pharma said it maintained a 48% value share in the U.S. sevoflurane drug market, and that its Kenalog product contributed to second-quarter revenue. In the consumer healthcare segment, leading brands grew 21% in the first half and accounted for 53% of sales. E-commerce revenue rose 32%, bringing its share to 28% of segment sales. These figures show that growth in both segments spanned different channels and brands, alongside expansion in contract business. In FY2026, first-half revenue had fallen 5% to 3,977 crore rupees, while contract development and manufacturing segment revenue declined 14% to 2,041 crore.
Despite its return to profit in the quarter, net debt remained high at 4,859 crore rupees on September 30, against 4,164 crore on March 31. The company said the second half is typically stronger than the first, its order book is healthy and customer engagement is encouraging. On that basis, it raised its FY2027 revenue growth forecast to 19%-20%, accompanied by significantly higher profitability. Management will discuss the results with investors and analysts on a scheduled call on October 28, 2026, from 10:00 to 10:45 a.m. India time. The call comes one day after the announcement of the first-half and second-quarter results.