News ArticlePiramal Pharma Posts 28% Q2 FY27 Revenue Growth and 72% EBITDA Increase, Raises FY27 Guidance
Strong performance across business segments fuels profitability and prompts revenue outlook upgrade for FY27
Piramal Pharma Limited announced a 28% year-on-year revenue increase to ₹2,617 crore for Q2 FY27, driven by strong growth across its CDMO, Complex Hospital Generics, and Consumer Healthcare segments. EBITDA rose 72% to ₹385 crore with margin expansion of over 350 basis points. Based on H1 performance, the company upgraded its full-year FY27 revenue growth outlook to 19-20% with substantially higher profitability.
Piramal Pharma Limited
Investor Presentation
Piramal Pharma Limited reported a 28% year-on-year revenue increase to ₹2,617 crore and a 72% rise in EBITDA to ₹385 crore for Q2 FY27. The gains were driven by robust demand and execution across its Contract Development and Manufacturing Organization (CDMO), Complex Hospital Generics (CHG), and Piramal Consumer Healthcare (PCH) divisions. The company upgraded its FY27 revenue growth outlook to 19-20%, anticipating higher full-year profitability.
Consolidated revenue reached ₹2,617 crore in Q2 FY27 compared to ₹2,044 crore in Q2 FY26. For the half year ended September 30, 2026, revenue was ₹4,887 crore, marking a 23% increase over the prior period.
The CDMO segment led growth with 36% revenue rise to ₹1,424 crore in Q2 FY27, supported by new customer additions and expanded project pipelines, including a Phase III pipeline increase to 28 molecules.
EBITDA margin expanded by over 350 basis points to 14.7% in Q2 FY27, reflecting improved capacity utilization, operating leverage, and cost management. Consolidated EBITDA climbed 72% to ₹385 crore for the quarter.
The Complex Hospital Generics segment grew 32% to ₹849 crore in Q2 FY27, driven by inhalation anesthesia sales, integration of Kenalog®, and market leadership in relevant products.
Piramal Consumer Healthcare posted steady 13% revenue growth to ₹359 crore in Q2 FY27, with strong performance in power brands and e-commerce channels, which grew 21% and 32% respectively in H1 FY27.
Highlights
- Q2 FY27 consolidated revenue at ₹2,617 crore, up 28% YoY.
- EBITDA rose 72% to ₹385 crore with 14.7% margin, expanding over 350 bps versus prior year.
- CDMO revenue increased 36% YoY to ₹1,424 crore, driven by robust order inflows and capacity utilization.
- Added 22 new CDMO customers and hosted 110 customer audits in H1 FY27.
- CHG segment achieved 32% revenue growth; maintained leadership in US Sevoflurane and Baclofen markets.
- Consumer Healthcare's e-commerce sales grew 32% contributing 28% of segment revenue in H1 FY27.
Key Data Snapshot
What happened
- Piramal Pharma reported a 28% year-on-year consolidated revenue increase to ₹2,617 crore for its second quarter ending September 30, 2026.
- Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 72% to ₹385 crore with margin expansion of over 350 basis points.
- Net profit after tax was ₹5 crore in Q2 FY27 compared to a loss of ₹99 crore in Q2 FY26.
- The company upgraded its full-year FY27 revenue growth forecast to 19-20%, reflecting strong business momentum.
Key details
- Revenue growth was driven by all three core business segments: CDMO, Complex Hospital Generics (CHG), and Consumer Healthcare (PCH).
- CDMO segment grew 36% YoY to ₹1,424 crore, led by new contract wins and increased Phase III pipeline molecules.
- CHG segment revenue increased 32% to ₹849 crore; maintained market leadership in US inhalation anesthesia and intrathecal baclofen products.
- Consumer Healthcare grew 13% to ₹359 crore, with e-commerce and power brands contributing strongly.
- 22 new customers were added to the CDMO segment in H1 FY27; 110 customer audits were conducted successfully.
- Kenalog® product integration benefited CHG revenues starting Q2 FY27.
Financial performance
- Total income rose 26% to ₹2,653 crore in Q2 FY27, up from ₹2,109 crore in Q2 FY26.
- Material cost increased by 29%, employee expenses by 17%, while disciplined cost management supported profitability.
- Interest expense rose slightly to ₹88 crore; depreciation was ₹233 crore in Q2 FY27.
- Despite increased costs, efficient capacity utilization and higher operating leverage expanded EBITDA margins from 11.0% to 14.7%.
Operational performance
- Successfully passed 12 regulatory inspections and 110 customer audits in H1 FY27 with no official action indicated by US FDA.
- Strengthened biologic capabilities with acquisition of controlling stake in Yapan Bio, and expansion of Lexington sterile fill-finish facility was on track.
- Launched premium skincare range 'Vizible' under Lacto Calamine in Consumer Healthcare segment.
- Maintained leadership in niche hospital generics markets with continued supplier collaboration to ensure product availability.
Next milestones
- Piramal Pharma will host an earnings conference call on 28th October 2026 to discuss Q2 and H1 FY27 results.
- Completion of Lexington facility expansion addition of sterile fill-finish capabilities expected to enhance contract manufacturing offering.
- Transition of Bayer distribution agreement ending December 2026 is being managed with no expected material impact on FY27 results.
Highlights
- Q2 FY27 consolidated revenue at ₹2,617 crore, up 28% YoY.
- EBITDA rose 72% to ₹385 crore with 14.7% margin, expanding over 350 bps versus prior year.
- CDMO revenue increased 36% YoY to ₹1,424 crore, driven by robust order inflows and capacity utilization.
- Added 22 new CDMO customers and hosted 110 customer audits in H1 FY27.
- CHG segment achieved 32% revenue growth; maintained leadership in US Sevoflurane and Baclofen markets.
- Consumer Healthcare's e-commerce sales grew 32% contributing 28% of segment revenue in H1 FY27.
Disclosures
- Indian Accounting Standards (Ind AS) as applicable to unaudited financial results
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