Shares of Piramal Pharma Ltd dropped nearly 4% to ₹197 on Tuesday, July 29, after the company reported a net loss in the first quarter of FY26, reversing a profit in the March quarter.
The pharma major posted a net loss of ₹81.7 crore for the June quarter, compared to a net profit of ₹153.5 crore in the March quarter. The company had also reported a loss in the same quarter last year, continuing its muted financial trend.
Revenue came in at ₹1,933.71 crore, down 1% year-on-year and a sharp 30% sequentially. The EBITDA dropped by nearly half to ₹106.7 crore, with margins plunging to 5.5% from 26.9% in the previous quarter.
The company attributed the poor EBITDA performance to a 6% decline in its CDMO business, impacted by destocking of one large on-patent commercial product. However, Piramal noted that, excluding this effect, the CDMO business witnessed mid-teen growth with improved margins at overseas facilities.
Its complex hospital generics segment posted 1% growth, constrained by phasing of institutional orders, which the company expects to recover in the remainder of the year.
Meanwhile, consumer healthcare grew 15% year-on-year to ₹302 crore, with power brands contributing 49% of the segment’s revenue and growing 18%.
Despite the weak quarter, Piramal Pharma reiterated its long-term goal of reaching $2 billion in topline revenue with 25% margins by FY30.
