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Piramal Pharma (PPLPHARMA)₹246.37+0.07%Pharmaceuticals
In the Sep 2026 quarter (consolidated), Piramal Pharma reported sales of ₹2,608 Cr, up 27.9% from Sep 2025, and net profit of ₹5.04 Cr. For the year to Mar 2026, sales were ₹8,842 Cr and net profit −₹327 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,954 | 2,547 | 1,946 | 2,235 | 2,199 | 2,745 | 1,929 | 2,039 | 2,135 | 2,743 | 2,262 | 2,608 |
| Expenses | 1,691 | 2,025 | 1,750 | 1,901 | 1,869 | 2,196 | 1,828 | 1,888 | 1,948 | 2,293 | 2,076 | 2,269 |
| Operating Profit | 268 | 531 | 205 | 342 | 338 | 561 | 107 | 159 | 196 | 461 | 195 | 349 |
| OPM % | 13.6% | 20.7% | 10.4% | 15.2% | 15.3% | 20.3% | 5.5% | 7.7% | 9.1% | 16.7% | 8.6% | 13.3% |
| Other Income | 43.04 | 7.87 | 41.78 | 78.05 | 29.07 | 58.04 | 97.31 | 80.14 | 12.35 | −116 | 109 | 53.52 |
| Interest | 106 | 114 | 107 | 108 | 104 | 104 | 86.33 | 82.58 | 89.52 | 83.27 | 88.38 | 87.92 |
| Depreciation | 186 | 196 | 184 | 192 | 197 | 243 | 197 | 203 | 213 | 218 | 223 | 233 |
| Profit before tax | 19.40 | 228 | −45.17 | 120 | 67.03 | 273 | −79.27 | −46.30 | −94.07 | 43.11 | −7.48 | 81.91 |
| Tax % | 47.9% | 55.5% | 96.7% | 81.3% | 94.6% | 43.8% | 3.4% | 114.9% | 45.2% | 120.6% | 830.2% | 93.9% |
| Exceptional items | 1.01 | −14.04 | 0.00 | 0.00 | 0.00 | 0.00 | 12.03 | 0.00 | −21.07 | −124 | 0.00 | 0.00 |
| Net Profit | 10.12 | 101 | −88.76 | 22.63 | 3.69 | 154 | −81.78 | −99.34 | −136 | −8.85 | −69.47 | 5.04 |
| EPS (Rs) | 0.09 | 0.78 | −0.68 | 0.18 | 0.04 | 1.17 | −0.62 | −0.76 | −1.03 | −0.08 | −0.53 | 0.05 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| Sales | 6,298 | 6,544 | 7,058 | 8,153 | 9,122 | 8,842 | 9,749 |
| Expenses | 4,893 | 5,610 | 6,456 | 6,981 | 7,715 | 7,953 | 8,586 |
| Operating Profit | 1,430 | 951 | 630 | 1,198 | 1,445 | 922 | 1,201 |
| OPM % | 22.9% | 13.9% | 8.9% | 14.9% | 15.9% | 10.0% | 12.3% |
| Other Income | 229 | 318 | 271 | 171 | 207 | 73.70 | 58.86 |
| Interest | 163 | 199 | 345 | 449 | 423 | 342 | 349 |
| Depreciation | 545 | 586 | 677 | 741 | 816 | 831 | 888 |
| Profit before tax | 952 | 486 | −120 | 180 | 416 | −176 | 23.47 |
| Tax % | 12.1% | 22.1% | 55.1% | 90.1% | 78.1% | 85.1% | — |
| Exceptional items | 17.04 | −8.02 | 0.00 | 2.01 | 2.01 | −14.04 | −145 |
| Net Profit | 836 | 377 | −186 | 18.02 | 91.05 | −327 | −210 |
| EPS (Rs) | — | — | −1.42 | 0.14 | 0.70 | −2.46 | −1.59 |
| Dividend payout % | 0.0% | 18.1% | 0.0% | 82.1% | 20.1% | 0.0% | — |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 993 | 1,186 | 1,192 | 1,322 | 1,324 | 1,326 |
| Reserves | 4,593 | 5,493 | 5,563 | 6,566 | 6,782 | 6,812 |
| Borrowings | 3,020 | 4,127 | 5,631 | 4,705 | 4,851 | 5,668 |
| Other Liabilities | 2,037 | 1,772 | 1,884 | 2,449 | 2,435 | 3,752 |
| Total Liabilities | 10,643 | 12,578 | 14,269 | 15,044 | 15,393 | 17,558 |
| Fixed Assets | 6,086 | 6,863 | 7,451 | 7,967 | 8,115 | 8,664 |
| CWIP | 629 | 1,175 | 1,424 | 1,120 | 980 | 1,103 |
| Investments | 123 | 266 | 638 | 384 | 291 | 436 |
| Other Assets | 3,805 | 4,273 | 4,757 | 5,573 | 6,007 | 7,355 |
| Inventories | 1,236 | 1,393 | 1,689 | 2,185 | 2,323 | 3,077 |
| Trade receivables | 1,570 | 1,779 | 1,795 | 2,127 | 2,341 | 2,151 |
| Cash & equivalents | 405 | 328 | 307 | 481 | 500 | 1,221 |
| Total Assets | 10,643 | 12,578 | 14,269 | 15,044 | 15,393 | 17,558 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from operating activity | 595 | 763 | 482 | 1,002 | 889 | 1,646 |
| Cash from investing activity | −4,478 | −1,743 | −1,339 | −417 | −490 | −823 |
| Cash from financing activity | 3,979 | 794 | 818 | −422 | −441 | −38.98 |
| Net cash flow | 110 | −176 | −31.89 | 165 | −36.83 | 790 |
| Capex | 601 | 888 | 963 | 710 | 663 | 888 |
| Free cash flow | −5.02 | −91.23 | −462 | 295 | 233 | 779 |
| CFO / OP % | 51.9% | 97.9% | 106.9% | 97.0% | 85.0% | 201.9% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor days | 90 | 98 | 92 | 94 | 93 | 88 |
| Inventory days | 219 | 208 | 228 | 270 | 262 | 346 |
| Days payable | 163 | 153 | 161 | 190 | 173 | 279 |
| Cash conversion cycle | 147 | 153 | 159 | 174 | 182 | 155 |
| Working capital days | 44 | 36 | 13 | 21 | 60 | 44 |
| ROCE % | — | 7.0% | 2.0% | 5.0% | 6.0% | 3.0% |
For the Sep 2026 quarter, Piramal Pharma reported sales of ₹2,608 Cr, up 27.9% year on year and net profit of ₹5.04 Cr. The operating margin was 13.3%.
Piramal Pharma's sales for the year to Mar 2026 were ₹8,842 Cr; over the last twelve months they were ₹9,749 Cr.
Net profit for the year to Mar 2026 was −₹327 Cr, and −₹210 Cr over the last twelve months. Earnings per share over the same trailing period were ₹−1.59.
Piramal Pharma reported borrowings of ₹5,668 Cr at Mar 2026, against cash and equivalents of ₹1,221 Cr.
Cash from operations was ₹1,646 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹779 Cr.