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Piramal Pharma's revenues for Q1FY27 grew 17.4% YoY

ICICIdirect Research 30 Jul 2026 DISCLAIMER

News: Piramal Pharma's revenues for Q1FY27 grew 17.4% YoY to ₹2270 crore driven by 19% growth in CDMO business (55% of sales) to ₹1187 crore, 17% growth in Complex Hospital Generics segment (30% of sales) to ₹743 crore, while the India Consumer Business (15% of sales) grew ~15% to ₹347 crore. Gross profit margin (GPM) for the quarter stood at 62.5% (down 165 bps); whereas, EBITDA grew ~83% YoY to ~₹195.2 crore, with the EBITDA margin improved  by 308 bps to 8.6%, mainly due to lower employee cost and other expenses.

View: Overall performance was better than expectations. The CDMO business, after an year-long hiatus witnessed healthy broad-based revenue growth. Improving biopharma funding is also translating into stronger RFP momentum and a pickup in order inflows for the CDMO segment. The CHG business also witnessed encouraging traction across select ex-US markets. The recent Kenalog acquisition should further support growth in this segment in coming quarter, alongside traction in ex-US inhalation anesthesia. Growth in the India consumer business continues to be driven by power brands and e-commerce. Going forward, management has reaffirmed delivering sustained revenue growth and EBITDA expansion through FY27. We await further clarity from the management concall.

Impact: Positive

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