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Piramal Pharma Limited Announces Results for Q3 and 9M FY26 USA - English USA - English

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PPL The company reported mixed results with revenue down YoY, but sees signs of recovery in its CDMO business due to increased M&A in the US healthcare space. Investments in new products and acquisitions are noted.

MUMBAI, India, Jan. 29, 2026 /PRNewswire/ -- Piramal Pharma Limited (NSE: PPLPHARMA) (BSE: 543635), a leading global pharmaceutical, health and wellness company, today announced its standalone and consolidated results for the Third Quarter (Q3) and Nine Month (9M) ended 31 st December 2025.

Consolidated Financial Highlights

(in ₹ Crores or as stated)

Particulars

Q3FY26

Q3FY25

YoY %

9MFY26

9MFY25

YoY %

Revenue from Operations

2,140

2,204

(3) %

6,117

6,397

(4) %

CDMO

1,166

1,278

(9) %

3,207

3,659

(12) %

CHG

668

654

2 %

1,948

1,928

1 %

PCH

334

278

20 %

954

819

16 %

EBITDA

239

350

(32) %

628

977

(36) %

EBITDA Margin

11 %

16 %

10 %

15 %

PAT Before Expectational Item

(95)

4

NM

(297)

(62)

NM

Exceptional Item

(41)

-

NM

(20)

-

NM

PAT After Expectational Item

(136)

4

NM

(317)

(62)

NM

Key Highlights for Q3 and 9M FY26

Nandini Piramal, Chairperson, Piramal Pharma Limited, said, "FY26 has been a muted year for the Company due to impact of inventory destocking and slower early-stage order inflows in H1FY26 in our CDMO business. However, in recent time, we are seeing early signs of recovery with pick-up in RFPs and order inflows on the back of improved biopharma funding and increased M&A activities in the US healthcare space. In our CHG business, we are investing in new products and expanding our presence in the ex-US markets. Acquiring niche brand like Kenalog, which is synergetic to our current business, is an important step in this direction. Our consumer business continues to outperform in its representative markets with robust growth in our power brands.

Despite the slower growth in FY26, we continue to believe in long term growth prospects of our businesses and back them with timely investments in capacities and capabilities. Q4 has been historically the strongest quarter for the Company, and we expect this trend to continue this year as well."

Key Business Highlights for Q3/9M FY26

Contract Development and Manufacturing Organization (CDMO):

Complex Hospital Generics (CHG):

Piramal Consumer Healthcare (PCH):

Consolidated Profit and Loss Statement

(in ₹ Crores or as stated)

Particulars

Quarterly

Nine Months

Q3FY26

Q3FY25

YoY %

Q2FY26

QoQ %

9MFY26

9MFY25

YoY %

Revenue from Operations

2,140

2,204

(3) %

2,044

5 %

6,117

6,397

(4) %

Other Income

43

12

256 %

66

(34) %

167

93

80 %

Total Income

2,183

2,216

(2) %

2,109

3 %

6,285

6,490

(3) %

Material Cost

786

806

(2) %

703

12 %

2,183

2,277

(4) %

Employee Expenses

600

556

8 %

611

(2) %

1,830

1,695

8 %

Other Expenses

558

504

11 %

571

(2) %

1,643

1,541

7 %

EBITDA

239

350

(32) %

224

7 %

628

977

(36) %

Interest Expenses

89

103

(14) %

82

8 %

258

318

(19) %

Depreciation

213

197

8 %

203

5 %

613

574

7 %

Share of Net Profit of Associates

10

17

(40) %

15

(31) %

44

57

(23) %

Profit Before Tax

(53)

67

NM

(46)

NM

(199)

142

NM

Tax

42

63

(33) %

53

(20) %

98

204

(52) %

Net Profit after Tax

(95)

4

NM

(99)

NM

(297)

(62)

NM

Exceptional item 1

(41)

-

NM

-

NM

(20)

-

NM

Net Profit after Tax after Exceptional Item

(136)

4

NM

(99)

NM

(317)

(62)

NM

1. Q3FY26 - Includes gratuity and leave encashment provision due to impact of change in LWF Act ₹ 26 Crs. & Settlement with CDMO customers ₹ 15 Crs.

9MFY26 – Includes exceptional items of Q3FY26 partially offset by one time insolvency proceeds received in Q1FY26 from a claim filed against a third-

party supplier of CHG by ₹ 21Crs.

Q3 and 9M FY26 Earnings Conference Call

Piramal Pharma Limited will be hosting a conference call for investors / analysts on 29 th January 2026 from 9:30 AM to 10:15 AM (IST) to discuss its Q3 and 9M FY26 Results.

The dial-in details for the call are as under:

Event

Location & Time

Telephone Number

Conference call on

29 th January, 2026

India – 09:30 AM IST

+91 22 6280 1461 / +91 22 7115 8320 (Primary Number)

1 800 120 1221 (Toll free number)

USA – 11:00 AM

(Eastern Time – New York)

Toll free number

18667462133

UK – 04:00 AM

(London Time)

Toll free number

08081011573

Singapore – 12:00 PM

(Singapore Time)

Toll free number

8001012045

Hong Kong – 12:00 PM

(Hong Kong Time)

Toll free number

800964448

Express Join with Diamond Pass™

Please use this link for prior registration to reduce wait time at the time of joining the call – Click here

About Piramal Pharma Limited:

Piramal Pharma Limited (PPL), (NSE: PPLPHARMA) (BSE: 543635), offers a portfolio of differentiated products and services through its 17 1 global development and manufacturing facilities and a global distribution network in over 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated contract development and manufacturing organization; Piramal Critical Care (PCC), a complex hospital generics business; and Piramal Consumer Healthcare (PCH) business, selling over-the-counter consumer and wellness products. In addition, one of PPL's associate companies, Abbvie Therapeutics India Private Limited, a joint venture between Abbvie and PPL, has emerged as one of the market leaders in the ophthalmology therapy area in the Indian pharma market. Further, PPL has a strategic minority investment in Yapan Bio Private Limited, that operates in the biologics / bio-therapeutics and vaccine segments.

For more information, visit: Piramal Pharma | LinkedIn

1. Includes one facility via PPL's minority investment in Yapan Bio.

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SOURCE Piramal Pharma Limited