Piramal Pharma navigates market challenges with Q2 and H1 FY26 results

Piramal Pharma Limited announced its Q2 and H1 FY26 standalone and consolidated unaudited financial results. Consolidated revenue from operations for Q2 FY26 was INR 2,044 crores, a 9% decrease year-over-year, while H1 FY26 saw INR 3,977 crores, a 5% decrease year-over-year. This was primarily attributed to inventory destocking in a large on-patent commercial CDMO product. Despite lower revenues, EBITDA for Q2 FY26 was INR 224 crores (down 44% year-over-year) and H1 FY26 was INR 389 crores (down 38% year-over-year), with cost optimization efforts partially offsetting the impact. Net profit after tax for Q2 FY26 stood at (INR 99 crores) and for H1 FY26 at (INR 181 crores).

The company's net-debt at the end of H1 FY26 decreased by INR 228 crores from FY25, reaching INR 3,971 crores, supported by tight control over working capital and capex. Strategic investments in US sites include $90m for Lexington and Riverview facilities, expanding sterile injectables capacity and payload-linker development. Additionally, a multi-million-dollar joint investment at Sellersville, US, with NewAmsterdam Pharma aims to enhance commercial manufacturing capacity for an FDC of Obicetrapib and Ezetimibe. The Complex Hospital Generics (CHG) business maintained its #1 position in the US Sevoflurane market with 45% value share, and the Consumer Healthcare (PCH) Power Brands grew 20% year-over-year in Q2 FY26.

Total equity on a consolidated basis stood at INR 8,073 crores as of September 30, 2025. The company also released its 4th Annual Sustainability Report for FY25, highlighting measurable progress in key areas like waste reduction, freshwater savings, and a significant reduction in Scope 1 & 2 emissions over the base year (FY22).