Global pharmaceutical company Piramal Pharma Ltd (PPL) reported a 9% increase in net profit before exceptional items at ₹167 crore for the March quarter compared with the year-ago period.
However, the company posted a net loss of ₹9 crore after recognising an impairment loss of ₹176 crore related to intangible assets under development, following a reassessment of their commercial viability.
Revenue trends and segment performance
Revenue for the quarter declined marginally by ₹2 crore to ₹2,752 crore, while on an annual basis, it fell 3% to ₹8,869 crore due to inventory destocking, slower early-stage order inflows in the first half of FY26 and softer traction in inhalation anaesthesia in ex-US markets.
Segment-wise, the Contract Development and Manufacturing Organisation (CDMO) business reported revenue of ₹1,708 crore, Complex Hospital Generics (CHG) ₹755 crore and Consumer Healthcare ₹320 crore. While CDMO revenue declined 4%, CHG and Consumer Healthcare grew 7% and 17%, respectively.
Investments and business outlook
PPL invested $94 million during FY26 towards growth and maintenance projects, with expansions at Lexington and Riverview progressing as planned. The company said customer interest is improving, with no increase in net debt over FY25.
“FY26 was a transitional year, shaped by external disruptions and certain business-specific factors. Despite these challenges, we exited the year on a stronger note,” said Piramal Pharma Ltd, Chairperson, Nandini Piramal.
Growth drivers and FY27 plans
The company expects recovery in biopharma funding since September 2025 to support order inflows in its CDMO business. In the CHG segment, the Kenalog acquisition and ramp-up in inhalation anaesthesia sales in ex-US markets are expected to drive growth.
The Consumer Healthcare business is expected to sustain momentum, supported by power brands and rapid growth in e-commerce, with margin improvement.
For FY27, the company plans to invest in high-growth areas within CDMO, strengthen execution and quality, build a differentiated specialty pipeline in CHG, and expand distribution networks in Consumer Healthcare.