Piramal Pharma Limited Announces Results for Q2 and H1 FY27

Mumbai, October 28: Piramal Pharma Limited a leading global pharmaceutical, health and wellness company, today announced its standalone and consolidated results for the Second Quarter (Q2) and Half Year (H1) ended 30^th September 2026.

                                                                                                                                                                                                               (in ₹ Crores or as stated)

• Broad-based Revenue Growth: Revenue grew 28% YoY in Q2FY27 and 23% YoY in H1FY27, driven by strong performance across all three businesses.
• Significant Profitability Improvement: EBITDA increased 72% YoY in Q2FY27 and H1FY27, with over 350bps EBITDA margin expansion in both periods. This was driven by higher capacity utilization, operating leverage, disciplined execution, and sustained cost optimization initiatives.
• Robust RFP Activity and Order Inflows: Added 22 new customers and successfully hosted 110 customer audits in H1FY27.
• Best-in-Class Quality & Compliance: Successfully completed 12 regulatory inspections and 110 customer audits during H1FY27, while maintaining the Company’s track record of no Official Action Indicated classifications across US FDA inspections.
• Upgrade FY27 Outlook: Based on the strong first-half performance and continued business momentum, we upgrade our FY27 outlook and now expect revenue growth of 19% to 20%, accompanied by meaningfully higher profitability.

Contract Development and Manufacturing Organization (CDMO):

• Robust Growth: Broad-based growth across India and overseas sites, supported by healthy commercial demand, improved execution and disciplined cost management. India and North America led performance across the network.
• Enhanced Profitability: Better capacity utilization and operating leverage drove a meaningful improvement in profitability.
• Strong Commercial Momentum: Strong RFP activity and order inflows resulted in addition of 22 new customers during H1FY27. Phase III pipeline increased to 28 molecules from 25 as of March 2026.
• Innovation and On-Patent Revenue Growth: Innovation-related revenues grew 24%, while on-patent commercial manufacturing revenues grew 39% in H1FY27.
• Differentiated Capabilities: Strengthened biologics capabilities through acquisition of a controlling stake in Yapan Bio. The Lexington expansion remains on track, will add sterile fill-finish capabilities, completing the integrated ADC offering. Commissioned a new microbiology laboratory at the site.
• ADC Services continued to gain momentum, with revenues up 51% YoY in H1FY27.
• Deepening Customer Engagement: Successfully hosted 110 customer audits during H1FY27, reflecting continued customer engagement and confidence in the Company’s quality systems.

Complex Hospital Generics (CHG):

• Inhalation Anesthesia Leadership: Maintained leadership in the US Sevoflurane market with a 48% value share, while building traction in ex-US markets. (Source: IQVIA)
• Kenalog® Integration: Kenalog® contributed to CHG revenue during Q2FY27 and is expected to be an important growth driver for the business in FY27.
• Intrathecal Therapy: Maintained the #1 position in the US Intrathecal Baclofen market. (Source: IQVIA)
• Injectable Pain Management: Continued collaboration with suppliers to ensure product availability.
• Building a Differentiated and Specialty Portfolio: Continued investments in 505(b)(2) products, complex and differentiated generics, branded products, in-licensing and co-development to strengthen the long-term portfolio.

Piramal Consumer Healthcare (PCH):

• Power Brands Continue to Outperform: Power Brands grew 21% YoY in H1FY27, contributing 53% of PCH sales, reflecting the strength of the core portfolio.
• Strong E-commerce Momentum: Grew 32% YoY in H1FY27 and contributed 28% of PCH sales.
• Innovation and Premiumization: Continued focus on fewer, larger, and higher-potential launches to enhance portfolio quality and margins. Launched the ‘Vizible’ range under Lacto Calamine to strengthen presence in premium skincare.
• Sustained Brand Investments: Invested approximately 11% of PCH sales in media and trade promotion across digital and traditional channels to support long-term brand growth.

Bayer Distribution Agreement: The distribution agreement will naturally expire in December 2026. The transition is being jointly managed to ensure business continuity, with no material impact expected on FY27 guidance.

Disclaimer: The information provided here is investment advice only. Investing in the markets is subject to risks and please consult your advisor before investing)

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