Piramal Pharma Limited reported a strong improvement in its financial performance for the second quarter of FY27, with consolidated revenue from operations rising 28% year-on-year (YoY) to ₹2,617 crore for the quarter ended September 30, 2026. The pharmaceutical company posted a net profit of ₹5 crore, compared with a net loss of ₹99 crore in the corresponding quarter of the previous financial year.
The improvement was supported by growth across its Contract Development and Manufacturing Organisation (CDMO), Complex Hospital Generics (CHG) and Piramal Consumer Healthcare (PCH) businesses. The company also upgraded its full-year FY27 revenue growth outlook following its first-half performance.
Piramal Pharma Q2 Results : Key Financial Highlights
- Revenue from operations: ₹2,617 crore, up 28% YoY from ₹2,044 crore.
- EBITDA: ₹385 crore, up 72% from ₹224 crore in Q2 FY26.
- EBITDA margin: 14.7%, compared with 11.0% a year earlier.
- Net profit: ₹5 crore, against a net loss of ₹99 crore in Q2 FY26.
- Profit before tax: ₹82 crore, compared with a loss before tax of ₹46 crore in the year-ago quarter.
- Total income: ₹2,653 crore, up 26% YoY from ₹2,109 crore.
The figures reflect a substantial improvement in operating profitability, although the company’s reported net profit remained modest at ₹5 crore.
Piramal Pharma Business-Wise Performance
The company reported growth across all three of its businesses during Q2 FY27.
1. Contract Development and Manufacturing Organisation (CDMO)
The CDMO business reported revenue of ₹1,424 crore, registering 36% YoY growth compared with ₹1,044 crore in Q2 FY26. The business was a key contributor to the company’s quarterly revenue growth.
For the first half of FY27, CDMO revenue reached ₹2,611 crore, up 28% from ₹2,041 crore in the corresponding period last year.
2. Complex Hospital Generics (CHG)
The CHG business recorded revenue of ₹849 crore, up 32% YoY from ₹644 crore in the year-ago quarter.
For H1 FY27, revenue from this business rose 24% YoY to ₹1,592 crore from ₹1,281 crore. The company highlighted demand for inhalation anaesthesia products in markets outside the United States and the integration of Kenalog among the contributors to business performance.
3. Piramal Consumer Healthcare (PCH)
The PCH business reported revenue of ₹359 crore, reflecting 13% YoY growth from ₹319 crore in Q2 FY26.
For the first half of FY27, revenue increased 14% YoY to ₹706 crore from ₹621 crore. The company also reported continued growth in its Power Brands and e-commerce channels.
Piramal Pharma H1 FY27 Results
For the six months ended September 30, 2026, Piramal Pharma reported improvement in revenue and operating profitability.
| Financial metric | H1 FY27 | YoY change |
|---|---|---|
| Revenue from operations | ₹4,887 crore | +23% |
| Total income | ₹5,012 crore | +22% |
| EBITDA | ₹669 crore | +72% |
| Profit before tax | ₹74 crore | Improved from a loss |
| Net profit/loss after tax | Loss of ₹64 crore | Narrowed from a loss of ₹202 crore |
Despite the return to quarterly profitability, the company continued to report a net loss for the first half of FY27. Its H1 EBITDA margin improved to 13.7%, compared with 9.8% in H1 FY26.
Piramal Pharma Revises FY27 Revenue Growth Outlook
Following its first-half performance, Piramal Pharma revised its FY27 revenue growth outlook to 19%–20%, citing business momentum and improved operating performance.
The company said its first-half growth was supported by demand across its businesses, stronger operating leverage and disciplined execution. It also reported that it added 22 new customers and completed 12 regulatory inspections and 110 customer audits during H1 FY27.
The company expects the second half of the financial year to be stronger than the first half, according to its results announcement.
What to Watch Next
Investors will track whether Piramal Pharma can sustain its revenue momentum and convert the improvement in EBITDA into stronger net profitability over the coming quarters. The company’s performance across CDMO and CHG, capacity utilisation, operating costs and execution of its revised FY27 outlook will remain important indicators.
The return to quarterly profit marks an improvement over the year-ago period, but the relatively small net profit and the H1 net loss mean that sustained profitability will be an important area to monitor.
Conclusion
Piramal Pharma reported 28% YoY revenue growth to ₹2,617 crore in Q2 FY27 and returned to a net profit of ₹5 crore from a loss of ₹99 crore in the corresponding quarter last year. EBITDA rose 72% to ₹385 crore, while the company upgraded its FY27 revenue growth outlook to 19%–20%.
Although operating performance improved considerably, the company’s ability to sustain growth and strengthen net profitability will be important in the coming quarters.
Source: Piramal Pharma Limited’s Q2 and H1 FY27 results announcement, published October 27, 2026.
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