More Stories

Informist, Wednesday, Jul. 29, 2026

 

By Ayush Jaiswal

 

MUMBAI – Piramal Pharma Ltd. is expected to remain in loss for the June quarter even as sales growth across its segments pull up revenues, according to brokerages tracking the company.

 

The company is expected to post a consolidated net loss of INR 1.07 billion for the June quarter, compared to a loss of INR 1.02 billion reported for the year-ago quarter, according to the average of estimates from five brokerages. The highest estimate for net loss is INR 1.18 billion from Kotak Securities Ltd. and the lowest is INR 842 million from ICICI Securities Ltd. Brokerages have not specified the reasons behind the net loss. The company had reported a net profit of INR 1.67 billion for the March quarter.

 

Revenues are likely to rise 10% on year to INR 21.17 billion for the June quarter, according to the estimates. On a sequential basis, however, the company's revenues are seen to decline 23% from INR 27.52 billion. The highest estimate for revenues is INR 21.39 billion from Kotak Securities and the lowest is INR 20.80 billion from ICICI Securities.

 

Piramal Pharma generates revenues from three main segments, namely, contract development and manufacturing organisation, complex hospital generics, and consumer healthcare. The contract development and manufacturing organisation segment accounted for 55% of the company's total revenues in the financial year 2025-26 (Apr-Mar). The complex hospital generics and consumer healthcare segments contributed 30% and 14%, respectively.

 

Piramal Pharma's revenue growth for the June quarter will be driven by traction in its India business and favourable currency benefits from international business. The company's revenues from the contract development and manufacturing organisation segment are likely to grow 10% on year, Kotak said. The company's revenues from the complex hospital generics segment are seen to rise 11% on year and that of the consumer healthcare segment by 13%, the brokerage added.

 

The company's earnings before interest, tax, depreciation, and amortisation are expected to decline 12% on year to INR 1.45 billion for the June quarter, according to the estimates. The highest EBITDA estimate is INR 1.60 billion from Kotak Securities and the lowest is INR 1.29 billion from HDFC Securities Ltd. The company's EBITDA margin is likely to expand 108 basis points on year to 6.6% for the June quarter due to a favourable base, ICICI Securities said. This growth will be largely driven by higher utilisation in its contract development and manufacturing organisation segment.

 

The pharma industry is expected to report a 14% on year rise in revenues for the June quarter due to price hikes, volume growth, and launch of glucagon-like peptide-1, ICICI Securities said. The industry's contract development and manufacturing organisation segment is expected to grow 15% on year for the June quarter driven by a robust order book. However, the industry's profitability growth will be under pressure due to loss of exclusivity in gRevlimid (shorthand for generic version of the cancer medication Revlimid) in the US.

 

Investors will watch for Piramal Pharma's new orders in the contract development and manufacturing organisation segment for early-stage molecules, resumption of supplies for rimegepant, better supplies of hospital generics from the new plant at Dahej, and margin improvement in consumer business in India.

 

The company is scheduled to detail its June quarter earnings Wednesday. Shares closed at INR 195.68 on the National Stock Exchange, up over 1% from Monday. The stock is up over 21% since it announced its March quarter results on Apr. 29.

 

All the five research estimates on the company available with Informist have a "buy" recommendation on the stock with an average target price of INR 212 per share, which is 8% higher than the current market price.

 

Following are the Apr-Jun earnings estimates, in INR million, for Piramal Pharma Ltd. from five brokerages, in descending order of net loss estimate:

 

Broker Name	Net Sales	Net Loss	EBITDA
ICICI Securities Ltd	20,799	842	1,373
JM Financial Institutional Securities Ltd	21,300	1,014	1,600
HDFC Securities Ltd	21,093	1,129	1,287
Motilal Oswal Financial Services Ltd	21,289	1,176	1,384
Kotak Securities Ltd	21,391	1,181	1,604
Average	21,174	1,068	1,450

 

 

 

 

 

 

 

 

 

 

 

End

 

Edited by Shubhayan Bhattacharya

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.