Piramal Pharma Limited
NSE: PPLPHARMAPharmaceuticals
Share price
₹196.43
-3.24% close of 8 Oct 2026
Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 5 Oct 2026, the close above is 8 Oct 2026.
Business score
How strong the business is, in one number. The parts behind it are in Pro.
40
out of 100 · worked out 8 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹26,066 Cr
P/E ratio
—
P/B ratio
3.2
ROCE
2.5%
ROE
-3.8%
Dividend yield
0.0%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Sales grew 0.8% over the past year, and 8.8% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales slipped from 11.7% to 10.6% over the last four years.
Whether it grew faster than its sector
It grew 8.8% a year against a sector median of 13.1% — 4.3 percentage points slower.
Room to re-rate, or risk of de-rating
It has no earnings, so there is no price-to-earnings to compare.
Whether growth justifies the valuation
It has no earnings to weigh the price against.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| Piramal Pharma Limited — this one | -31%/yr | — | — |
| Sun Pharmaceutical | 13%/yr | 33.4× | ₹2.6 |
| Divi's Laboratories | 13%/yr | 83.3× | ₹6.4 |
| Torrent Pharmaceuticals | 22%/yr | 78.7× | ₹3.6 |
| Zydus Lifesciences | 32%/yr | 23.1× | ₹0.72 |
| Laurus Labs Limited | 4%/yr | 98.6× | ₹24.7 |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Pharmaceuticals), it ranks 113 of 130 on returns, 81 of 127 on growth, 99 of 130 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
No durable advantage shows in the numbers: it earns 2.5% on capital, ahead of 13% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
Yes — Over the last five years it made ₹4800 crore of cash from the business and spent ₹4049 crore on plant and equipment, with ₹751 crore to spare; it still raised ₹710 crore mostly borrowed — borrowings rose from ₹4128 crore to ₹5675 crore. And the profit is real: of every 100 rupees it reported over 6 years, about 668 arrived as cash — well above the profit; depreciation and interest are the reason, not a windfall. Its cash comes back more slowly than it used to: it went from being waiting 36 days for its cash to waiting 44 days for its cash.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
6 of 9 checks clear · 67%
Latest result · Q1 FY27
What the last results showed. Whether management kept its word is in Pro.
Sales grew 17% but the company still posted a Rs 69 crore loss after interest, depreciation and tax
Announced 29 Jul 2026 · Consolidated
Revenue
₹2,270 Cr
Revenue vs last year
+17.4%
Revenue vs last quarter
-17.5%
Net profit
-₹69 Cr
Net margin
-3.1%
EPS
₹-0.52
Earnings call transcript · 30 Jul 2026
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹26,066 Cr
- Prev close
- ₹196.43
- 52w High
- ₹232
- 52w Low
- ₹132
- Enterprise value
- ₹30,385 Cr
- Beta
- 1.1
- Price CAGR 1y
- 0.0%
- Price CAGR 3y
- 26.0%
- Price CAGR 5y
- —
- Price CAGR 10y
- —
Ratios
- Return on assets
- -1.9%
- PEG ratio
- —
- P/E ratio
- —
- P/B ratio
- 3.2
- EV / EBITDA
- 30.1
- Industry P/E
- 38.0
- ROCE
- 2.5%
- ROCE 5y average
- 4.6%
- ROE
- -3.8%
- Debt / Equity
- 0.7
- Interest coverage
- 0.5
- Dividend yield
- 0.0%
- ROE 3y average
- -1.0%
- ROE last year
- -4.0%
Annual P&L
- Annual revenue
- ₹8,869 Cr
- Annual profit
- -₹326 Cr
- Operating margin
- 10.0%
- Net profit margin
- -3.7%
- EBITDA margin
- 10.4%
- Sales growth 3y
- 7.8%
- Sales growth 5y
- 7.0%
- Profit growth 3y
- -31.0%
- Profit growth 5y
- —
- EPS
- ₹-2.5
- Sales growth TTM
- 1.0%
- Profit growth TTM
- -296.0%
- Dividend payout
- 0.0%
Quarter P&L
- Sales latest quarter
- ₹2,270 Cr
- Profit latest quarter
- -₹69 Cr
- YoY quarterly sales growth
- 17.4%
- YoY quarterly profit growth
- —
- OPM latest quarter
- 8.6%
Balance Sheet
- Book Value
- ₹61.5
- Face Value
- ₹10.0
- Total debt
- ₹5,675 Cr
- Total cash
- ₹1,224 Cr
- Borrowings
- ₹5,675 Cr
- Reserves / Equity
- 5.2
Cash Flow
- Operating cash flow
- ₹1,653 Cr
- Free cash flow
- ₹776 Cr
- FCF yield
- 1.7%
- Net cash flow
- ₹794 Cr
Shareholding
- Promoter holding
- 34.8%
- FII holding
- 12.5%
- DII holding
- 14.6%
- Public holding
- 37.6%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| Sun Pharma.Inds. | 1,782.00 | 33.9 | 4,27,562 | 0.89 | 2,901.2 | 6.0 | 15,299.9 | 10.5 | 20.5 |
| Divi's Lab. | 9,212.85 | 82.1 | 2,44,572 | 0.32 | 902.0 | 65.5 | 3,080.0 | 27.8 | 22.0 |
| Torrent Pharma. | 4,755.15 | 81.1 | 1,80,871 | 0.80 | 566.0 | 5.8 | 4,921.0 | 54.9 | 15.2 |
| Zydus Lifesci. | 1,138.50 | 23.3 | 1,13,566 | 0.09 | 990.2 | -35.1 | 8,017.0 | 22.0 | 21.1 |
| Cipla | 1,334.00 | 30.1 | 1,07,770 | 0.98 | 785.6 | -39.2 | 7,119.3 | 2.3 | 15.5 |
| Laurus Labs | 1,964.00 | 97.0 | 1,06,117 | 0.10 | 362.1 | 125.5 | 2,026.3 | 29.1 | 17.8 |
| Mankind Pharma | 2,479.95 | 48.1 | 1,02,433 | 0.04 | 574.1 | 29.6 | 4,030.6 | 12.9 | 13.5 |
| Piramal Pharma | 194.90 | 25,948 | 0.00 | -69.4 | 25.8 | 2,269.9 | 17.4 | 2.5 | |
| Median | 404.00 | 34.2 | 2,150 | 0.06 | 13.2 | 29.6 | 160.3 | 18.6 | 14.9 |
Competes with: Cipla, Divi's Laboratories, Dr Reddy's Laboratories, Laurus Labs Limited, Lupin, Mankind Pharma Limited, Sun Pharmaceutical, Torrent Pharmaceuticals, Zydus Lifesciences
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,749 | 1,911 | 1,959 | 2,552 | 1,951 | 2,242 | 2,204 | 2,754 | 1,934 | 2,044 | 2,140 | 2,752 | 2,270 |
| Expenses | 1,617 | 1,646 | 1,690 | 2,022 | 1,747 | 1,900 | 1,866 | 2,193 | 1,827 | 1,885 | 1,944 | 2,291 | 2,075 |
| Material Cost | 204 | 524 | 483 | 505 | 483 | 725 | |||||||
| Change in Inventories | 205 | -173 | -156 | -96 | 237 | -293 | |||||||
| Purchases of Stock-in-Trade | 547 | 343 | 375 | 377 | 336 | 420 | |||||||
| Employee Cost | 612 | 619 | 611 | 600 | 586 | 676 | |||||||
| Other Expenses | 626 | 514 | 571 | 558 | 650 | 547 | |||||||
| Operating Profit | 132 | 266 | 268 | 530 | 204 | 342 | 338 | 561 | 107 | 159 | 196 | 461 | 195 |
| OPM % | 7.57 | 14 | 14 | 21 | 10 | 15 | 15 | 20 | 5.52 | 7.76 | 9.15 | 17 | 8.60 |
| Other Income | 53 | 68 | 43 | 8 | 42 | 78 | 29 | 58 | 98 | 80 | 12 | -116 | 109 |
| Exceptional items (within Other Income) | 0 | 21 | 0 | -41 | -176 | 0 | |||||||
| Interest | 119 | 110 | 106 | 114 | 107 | 108 | 103 | 104 | 86 | 82 | 89 | 83 | 88 |
| Depreciation | 174 | 185 | 186 | 196 | 185 | 192 | 197 | 243 | 197 | 203 | 213 | 218 | 224 |
| Profit before tax | -107 | 40 | 19 | 227 | -45 | 120 | 67 | 273 | -79 | -46 | -94 | 43 | -7 |
| Tax % | -8 | 87 | 48 | 55 | 97 | 81 | 94 | 44 | 3 | 115 | 45 | 121 | 830 |
| Net Profit | -99 | 5 | 10 | 101 | -89 | 23 | 4 | 154 | -82 | -99 | -136 | -9 | -69 |
| EPS in Rs | -0.75 | 0.04 | 0.08 | 0.77 | -0.67 | 0.17 | 0.03 | 1.16 | -0.61 | -0.75 | -1.02 | -0.07 | -0.52 |
| Diluted EPS in Rs | 1.16 | -0.62 | -0.75 | -1.03 | -0.07 | -0.52 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|
| Sales | 6,315 | 6,559 | 7,082 | 8,171 | 9,151 | 8,869 | 9,205 |
| Expenses | 4,887 | 5,609 | 6,453 | 6,974 | 7,706 | 7,947 | 8,195 |
| Material Cost | 2,056 | 1,996 | |||||
| Change in Inventories | -241 | -188 | |||||
| Purchases of Stock-in-Trade | 1,417 | 1,431 | |||||
| Employee Cost | 2,307 | 2,416 | |||||
| Other Expenses | 2,167 | 2,293 | |||||
| Operating Profit | 1,428 | 950 | 629 | 1,197 | 1,445 | 922 | 1,010 |
| OPM % | 23 | 14 | 9 | 15 | 16 | 10 | 11 |
| Other Income | 230 | 319 | 272 | 172 | 208 | 74 | 86 |
| Exceptional items (within Other Income) | 0 | -196 | |||||
| Interest | 163 | 198 | 344 | 448 | 422 | 341 | 343 |
| Depreciation | 545 | 586 | 677 | 741 | 816 | 831 | 858 |
| Profit before tax | 949 | 485 | -120 | 179 | 415 | -176 | -104 |
| Tax % | 12 | 22 | 55 | 90 | 78 | 85 | |
| Net Profit | 835 | 376 | -186 | 18 | 91 | -326 | -314 |
| EPS in Rs | -1.41 | 0.13 | 0.69 | -2.45 | -2.36 | ||
| Diluted EPS in Rs | 0.68 | -2.46 | |||||
| Dividend Payout % | 0 | 18 | 0 | 82 | 20 | 0 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- —
- 5 years
- 7%
- 3 years
- 8%
- TTM
- 1%
Compounded profit growth
- 10 years
- —
- 5 years
- —
- 3 years
- -31%
- TTM
- -296%
Stock price CAGR
- 10 years
- —
- 5 years
- —
- 3 years
- 26%
- 1 year
- 0%
Return on equity
- 10 years
- —
- 5 years
- 0%
- 3 years
- -1%
- Last year
- -4%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity Capital | 995 | 1,186 | 1,193 | 1,323 | 1,324 | 1,327 |
| Reserves | 4,610 | 5,511 | 5,580 | 6,588 | 6,801 | 6,835 |
| Borrowings | 3,025 | 4,128 | 5,637 | 4,710 | 4,856 | 5,675 |
| Other Liabilities | 2,047 | 1,781 | 1,893 | 2,461 | 2,447 | 3,770 |
| Minority Interest | 0 | 0 | ||||
| Total Liabilities | 10,677 | 12,605 | 14,303 | 15,083 | 15,429 | 17,607 |
| Fixed Assets | 6,105 | 6,879 | 7,469 | 7,990 | 8,133 | 8,684 |
| CWIP | 627 | 1,172 | 1,419 | 1,116 | 977 | 1,100 |
| Investments | 123 | 267 | 639 | 385 | 291 | 437 |
| Other Assets | 3,822 | 4,286 | 4,777 | 5,592 | 6,028 | 7,386 |
| Total Assets | 10,677 | 12,605 | 14,303 | 15,083 | 15,429 | 17,607 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from Operating Activity | 598 | 766 | 484 | 1,005 | 892 | 1,653 |
| Cash from Investing Activity | -4,464 | -1,737 | -1,334 | -416 | -488 | -820 |
| Cash from Financing Activity | 3,977 | 794 | 818 | -422 | -441 | -39 |
| Net Cash Flow | 110 | -177 | -32 | 166 | -37 | 794 |
| Free Cash Flow | -5 | -91 | -461 | 294 | 233 | 776 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor Days | 91 | 99 | 93 | 95 | 94 | 89 |
| Inventory Days | 218 | 207 | 227 | 269 | 261 | 345 |
| 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 | 2 | 5 | 6 | 3 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2026-03-31
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash
4,319inr_cr
2026-03-31
guarantees / comfort given for promoter, promoter group, directors and KMP
0.00cr
2026-03-31
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
0.00cr
2026-03-31
security given for the borrowing of promoter, promoter group, directors and KMP
0.00cr
2026-03-31
FY revenue / permanent employees + workers, same basis (calc)
1,24,56,461inr
2026-03-31
News
News and filings about Piramal Pharma Limited. Open one to see why it matters.
1 Oct, 19:30 IST · Company event · low impact
The Exchange has sought clarification from Piramal Pharma Limited with respect to recent news item captioned Ontario Contributes $1.7 Million Investment to Advance Life Sciences Innovation at Piramal Pharmas Aurora Facility.. The response from the Company is attached.
30 Sept, 18:00 IST · Company event · low impact
The Exchange has sought clarification from Piramal Pharma Limited with respect to recent news item captioned Ontario Contributes $1.7 Million Investment to Advance Life Sciences Innovation at Piramal Pharmas Aurora Facility.. The response from the Company is awaited.
29 Sept, 11:00 IST · Company event · low impact
Piramal Pharma Limited — Disclosure under Regulation 30 of Securities and Exchange Board of India(Listing Obligations and Disclosure Requirements) Regulations, 2015
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
Uses as raw material
- Active pharmaceutical ingredients (APIs) for formulations and hospital generics
- Excipients, packaging material, lab chemicals and manufacturing consumables
- Key starting materials and intermediates for internally manufactured APIs
Buys from
- Standard Engineering Technology Limited · glass-lined and alloy/stainless-steel process equipment for pharmaceutical/API manufacturi…
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Healthcare
- Industry
- Pharmaceuticals
- Classification
- Healthcare › Pharmaceuticals
- ISIN
- INE0DK501011
Plants
- Aurora facility · Aurora, Ontario, Canada
- Bethlehem facility · Bethlehem, Pennsylvania, United States
- Digwal facility · Digwal, Telangana
- Ennore facility · Chennai, Tamil Nadu
- Grangemouth facility · Grangemouth, Scotland, United Kingdom
- Lexington facility · Lexington, Kentucky, United States
- Mahad facility · Mahad, Maharashtra
- Morpeth facility · Morpeth, Northumberland, United Kingdom
- Piramal Discovery Solutions · Ahmedabad, Gujarat
- Pithampur facility · Pithampur, Madhya Pradesh
- Rabale facility · Navi Mumbai, Maharashtra
- Riverview facility · Riverview, Michigan, United States
- Sellersville facility · Sellersville, Pennsylvania, United States
- Turbhe facility · Navi Mumbai, Maharashtra
- Yapan Bio facility · Hyderabad, Telangana
News impact
Big market events that reach Piramal Pharma Limited, and how the effect spreads.
15 Sept, 05:00 IST · Market event · high impact
Piramal Pharma Morpeth UK facility gets 7 FDA observations after Sep 3-11 inspection
A US drug watchdog found seven problems at Piramal Pharma UK factory — bad for its shares, while rival drug makers should barely feel it.
Who it hits first
- Piramal Pharma faces CDMO order pauses, deeper client audits and remediation costs at Morpeth.
- Seven observations exceed its own 4-observation precedents, signaling a tougher inspection outcome.
- Small pharma peers derate on sentiment as investors re-check Indian plant quality systems.
Who may gain
- Large quality leaders (Sun, Divi) may pick up marginal CDMO inquiries — too small to trade.
Along the supply chain
Downstream
US clients of Morpeth qualify backup suppliers slowly; no drug shortages indicated.
Upstream
No direct supply-chain link — this is a plant-quality event, not a supply disruption; API suppliers to Morpeth see minor order delays.
Where demand moves
Business
CDMO clients slow new Piramal orders and audit harder; no demand transfers at scale to peers.
Capital
Money trims small-pharma exposure on regulatory headlines; rotates to large quality pharma and hospitals-on-facts.
How it spreads across sectors
Healthcare
CDMO/API sentiment hit; hospitals untouched operationally; large pharma flat per precedent.
When it plays out
Immediate
Piramal stock down 2-5% on the headline; small peers dip 1-3% on sentiment.
Medium term
Clean re-inspection closes the episode; warning letter or import alert would extend damage to quarters.
Short term
Company corrective-action response and FDA classification (VAI vs OAI) decide whether this fades or escalates.
23 Jul, 04:24 IST · Market event · high impact
Trump proposes up to 200% tariff on imported generic drugs (phased); Indian pharma falls, takes wait-and-watch stance
Who it hits first
- US-facing Indian generic exporters (DRREDDY, AUROPHARMA, LUPIN, ZYDUSLIFE, GLAND) face a long-dated tariff threat with zero near-term cost
- Sentiment hit today; Nifty Pharma -1.3%
Who may gain
- Domestic-focused pharma/hospitals (APOLLOHOSP, MANKIND, ABBOTINDIA) relatively insulated
- US-based generic manufacturers long-term if reshoring occurs
Along the supply chain
Downstream
US pharmacies/PBMs and patients would bear higher generic costs if the tariff ever takes effect, which is the political friction that makes near-term enactment on essential generics unlikely.
Upstream
Indian API/intermediate suppliers to these formulators see no near-term change; a post-2028 US reshoring push could shift some API demand but also open US-site sourcing.
Where demand moves
Business
No near-term demand change (0% tariff for 2 years). If enacted post-2028, US buyers of Indian generics would face higher landed cost, incentivising reshoring or supplier switching; specialty/injectable makers are harder to displace.
Capital
Near-term risk-off rotation within pharma from high-US-generics names toward domestic-facing pharma and hospitals; the muted, recoverable Sept-2025 precedent limits sustained outflows.
How it spreads across sectors
Healthcare
Domestic hospitals/branded pharma relatively insulated, mild defensive bid
Pharma
US-generic exporters sentiment-negative near-term, neutral medium-term given phasing
When it plays out
Immediate
Sentiment-driven dip in US-exposed generic exporters (Nifty Pharma -1.3%); no earnings impact
Medium term
Neutral through 2026-27 (0% tariff); structural risk only from Aug-2028 (100%) / Aug-2029 (200%) if unmodified — 2 years to reshore or requalify supply
Short term
Wait-and-watch; watch for exemptions/clarifications on essential generics and any reshoring announcements
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 16 Jul 2025 | unspecified | ₹0.14 |
|---|---|---|
| 12 Jul 2024 | unspecified | ₹0.11 |
Splits, bonuses & buybacks
- daily-prices repair: 8 rows from NSE's archive (replace 2, delete 1, insert 5), 2023-11-12..2026-02-01 (docs/flat_day_repair.md)1× · 12 Nov 2023
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Earnings call30 Jul 2026
- Annual report · 2025-263 Jul 2026
- Results presentation30 Jun 2026
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.