Piramal Pharma looks to a ‘significantly stronger’ second half of the year

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Company raises growth guidance to 19-20%; stock price soars over 17% on BSE

By PT Jyothi Datta

Updated - October 28, 2026 at 02:43 PM.

File pic of Nandini Piramal, Chairperson, Piramal Pharma

Piramal Pharma Ltd has upped its annual guidance on the expectation that the second half of the year will be “significantly stronger”, said Chairperson Nandini Piramal.

“We are confident to up our guidance from the low to mid-teens growth to the upper end of 19 per cent to 20 per cent growth. And given that we’re largely a fixed cost business … we expect the increased revenues to translate into higher profitability,” Piramal told businessline. “We’re reasonably confident for H2 (second half of the year) as well, … In our business, H2 is significantly stronger than H1,” she added, pointing to broad-based growth across the company’s three business segments, and a healthy order book, among other things.

Piramal Pharma’s stock price was up over 17 per cent at ₹233.70 on the BSE at 2 pm on Wednesday.

The company posted a net profit of ₹5 crore for the second quarter (Q2) ended September 30, 2026, compared to a loss of ₹99 crore in the same quarter last year. Its revenue from operations stood at ₹2,617 crore for the quarter under review, up 28 per cent from ₹2,044 crore in the same period last year. While the company’s CDMO (contract development and manufacturing organisation) business grew 28 per cent in the quarter on strong order inflows, complex hospital generics grew at 24 per cent and consumer healthcare at 14 per cent.

Improved order inflows

Pointing to improved RFP (request for proposal) activity and order inflows, the company said it added 22 new customers; and its Phase III (molecules in a late stage of clinical trial) pipeline increased to 28 from 25 molecules as of March 2026. The company underwent 110 customer audits in the first six months of the year, and another 12 regulatory inspections with no OAI (Official Action Indicated) classifications across US FDA inspections, it added.

Piramal said, the company had delivered strong revenue growth at 23 per cent in the first half of the year, with an “EBITDA margin expansion of over 350 basis points, driven by healthy demand across our businesses, disciplined execution, and improved operating leverage.”

Increasing input costs

Echoing industry sentiments on the challenges given the geo-political environment, Piramal said, “there has been an overall increase in inflation and input costs….You have to continue to balance that….In the US, we have seen an uptick in RFPs and orders, as well as… in India. So we have to keep balancing that.”

Pointing out that the company was in the consumer healthcare segment in the local market, Piramal did not wade into the the discussion on price control that confronts the domestic pharma industry.

The company also said its distribution agreement with Bayer would expire in December 2026. “The transition is being jointly managed to ensure business continuity, with no material impact expected on FY27 guidance,” it added.

Published on October 28, 2026

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