Pick of the Week: Piramal Pharma Limited

Piramal Pharma Limited (PPL) is part of the Piramal group of companies, demerged and separately listed on the BSE and NSE in October 2022. The company operates through three business segments: Contract Development and Manufacturing Organisation (CDMO), which serves ~500 global customers across 15 sites in North America, Europe and India; Complex Hospital Generics (Piramal Critical Care), spanning inhalation anaesthesia, injectable pain management and intrathecal therapy; and India Consumer Healthcare (OTC), with established brands such as Saridon, Supradyn, Lacto Calamine and Little’s. Promoter holding stands at 34.85%. FY26 (year ended March 2026) was a challenging year, with consolidated revenue at ₹8,869 Cr (down marginally YoY) and a consolidated net loss of Rs. 326 Cr, driven by margin pressure, higher depreciation, and interest costs on an elevated debt base. Management has guided towards early-to-mid-teens revenue growth in FY27, supported by a recovering CDMO order pipeline.