PPLPHARMA · Healthcare
Piramal Pharma Ltd. reported revenue of ₹2,617 cr for July to September 2026, +28.1% on the year and +15.3% on the quarter. That is faster than this quarter has grown in recent years (+4.2% on average), so the year-on-year number is not just the season. Over the last four quarters revenue comes to ₹9,779 cr, +9.4% on the four before.
Operating profit (EBITDA) was ₹349 cr, a margin of 13.3%, +556 bps on the year and +473 bps on the quarter. Over the last 8 quarters the margin has ranged from 5.5% to 20.4%, averaging 12.1%. Operating costs grew +20.3% against revenue growth of +28.1%, so more of each rupee of sales reached operating profit.
The company swung to a net profit of ₹5.0 cr from a loss of ₹99.2 cr a year earlier, with earnings per share of ₹0.04.
Of the 4 companies in Healthcare that have reported Q2 FY27 so far, Piramal Pharma Ltd. ranks 2nd on revenue growth; the sector median is +12.6%. Its margin moved +556 bps on the year against a sector median of −183 bps.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
Half or more of pre-tax profit came from other income. What is it, and does it repeat?
Other income was 66% of profit before tax.
Source: Quarterly statements
Turned profitable from a loss a year ago.
Net profit ₹5.0 cr against a loss of −₹99.2 cr.
Source: Quarterly statements
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,959 cr | ₹2,552 cr | ₹1,951 cr | ₹2,242 cr | ₹2,204 cr | ₹2,754 cr | ₹1,934 cr | ₹2,044 cr | ₹2,140 cr | ₹2,752 cr | ₹2,270 cr | ₹2,617 cr |
| YoY | — | — | +12% | +17% | +13% | +8% | −1% | −9% | −3% | −0% | +17% | +28% |
| EBITDA margin | 13.7% | 20.8% | 10.5% | 15.2% | 15.3% | 20.4% | 5.5% | 7.8% | 9.1% | 16.7% | 8.6% | 13.3% |
| Other income, % of PBT | 223% | 3% | — | 65% | 44% | 21% | — | — | — | −270% | — | 66% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 48% | 55% | — | — | — | 44% | — | — | — | — | — | — |
| Net profit | ₹10.1 cr | ₹101 cr | −₹88.6 cr | ₹22.6 cr | ₹3.7 cr | ₹154 cr | −₹81.7 cr | −₹99.2 cr | −₹136 cr | −₹8.8 cr | −₹69.4 cr | ₹5.0 cr |
| YoY | — | — | — | +352% | −64% | +52% | — | −539% | −3,801% | −106% | — | — |
| Core profit YoY | — | — | — | — | — | −2% | — | −403% | −382% | −26% | — | — |
| EPS | ₹0.08 | ₹0.77 | −₹0.67 | ₹0.17 | ₹0.03 | ₹1.16 | −₹0.61 | −₹0.75 | −₹1.02 | −₹0.07 | −₹0.52 | ₹0.04 |
| Flags | 1 | · | ✓ | 1 | ✓ | 1 | 1 | 2 | 2 | 2 | ✓ | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Piramal Pharma Ltd. reported revenue of ₹2,617 cr (+28.1% on the year) and net profit of ₹5.0 cr (— on the year) for July to September 2026.
1 check raised a question: Half or more of pre-tax profit came from other income. What is it, and does it repeat?
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