Piramal Pharma Limited — PPTs, 05-11-2025: Investor Presentation

Piramal Pharma's H1 FY26 saw revenue from operations drop 5% YoY to ₹3,977 Cr, with Q2 revenue at ₹2,044 Cr (down 9% YoY). EBITDA fell 38% for H1 to ₹389 Cr and 44% for Q2 to ₹224 Cr, resulting in a net loss of ₹181 Cr for H1 and ₹99 Cr for Q2. This performance was primarily due to inventory destocking in a key CDMO product and inconsistent US biopharma funding. CDMO segment revenue declined significantly, while Complex Hospital Generics (CHG) was flat. Indian Consumer Healthcare (ICH) grew 15%, boosted by Power Brands (+20%) and e-commerce (+40%).

Looking ahead, management sees an uptick in biopharma funding in Sep/Oct 2025, expecting increased CDMO orders, especially for onshore manufacturing and differentiated capabilities (ADC, sterile fill-finish). Recent developments include a joint investment at Sellersville for commercial manufacturing of a fixed-dose combination product and successful regulatory inspections with zero observations. The company also reduced Net Debt by ₹228 Cr to ₹3,971 Cr. Cost optimization efforts helped partially offset the revenue impact. Supply issues for Intrathecal therapy are set to normalize in H2.