Piramal Pharma Q4FY26 Results: Revenue Flat, PAT Declines Amidst Exceptional Item
Piramal Pharma Limited reported Q4FY26 consolidated revenue of ₹2,752 crore (flat YoY) and FY26 revenue of ₹8,869 crore (down 3% YoY). EBITDA declined 16% in Q4 to ₹507 crore. A significant ₹176 crore impairment loss led to a Q4 net loss of ₹9 crore. The company expects growth in FY27 driven by business momentum.
While the impairment charge significantly impacted the bottom line, the company's outlook for FY27 and the operational highlights across its business segments suggest potential for recovery and future growth, mitigating a high impact.
The financial results show a decline in revenue and a significant drop in profit due to an exceptional impairment charge, leading to a net loss for the quarter and the full year.
Piramal Pharma Limited (PPL) announced its audited financial results for the quarter and year ended March 31, 2026. The company reported consolidated revenue from operations of ₹2,752 crore for Q4FY26, a marginal (0)% decrease compared to ₹2,754 crore in Q4FY25. For the full year FY26, revenue stood at ₹8,869 crore, down 3% from ₹9,151 crore in FY25. The Contract Development and Manufacturing Organization (CDMO) segment saw a 4% decline in Q4 revenue, while Complex Hospital Generics (CHG) grew 7% and Consumer Healthcare (PCH) grew 17% in Q4.
Consolidated EBITDA for Q4FY26 was ₹507 crore, a decrease of 16% from ₹603 crore in Q4FY25, leading to a lower EBITDA margin of 18% compared to 22% in the prior year. Profit After Tax (PAT) before exceptional items was ₹167 crore, up 9% YoY. However, an exceptional item of ₹176 crore, recognized as an impairment loss on intangible assets under development, resulted in a net loss after exceptional items of ₹9 crore for Q4FY26, compared to a profit of ₹154 crore in Q4FY25. For the full year FY26, PAT before exceptional items was a loss of ₹130 crore, and after an exceptional item of ₹196 crore, the net loss was ₹326 crore.
Despite the financial performance, Chairperson Nandini Piramal highlighted that FY26 was a transitional year. She expressed optimism for FY27, expecting growth across all businesses driven by increased biopharma funding, the Kenalog® acquisition, and growth in the consumer healthcare segment. The company invested US$94 million in Capex for FY26, focusing on growth and maintenance projects, with expansions at Lexington and Riverview on track. Net debt remained stable compared to FY25. Piramal Pharma Limited will host an earnings conference call on April 29, 2026, to discuss the results.
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