| ₹ crore | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue | 2,617 | 2,044 | +28.1% |
| EBITDA | 349 | 159 | +119.8% |
| EBITDA margin | 13.3% | 7.8% | +5.6 pts |
| Profit before tax | 63.9 | −61.0 | — |
| Net profit | 5.0 | −99.2 | — |
| EPS | ₹0.04 | −₹0.75 | — |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 30,896 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 806 | 1,332 | 389 | 502 | 623 | ||
| 22.5 | 0.0 | 0.0 | — | — | ||
| 5,495 | 5,495 | 4,720 | 4,559 | 5,505 | ||
| 35,608 | — | — | — | — | ||
| 9,779 | 8,869 | 9,151 | 8,171 | 7,082 | ||
| — | −3.1% | +12.0% | +15.4% | — | ||
| 1,200 | 922 | 1,445 | 1,196 | 628 | ||
| 12.3% | 10.4% | 15.8% | 14.6% | 8.9% | ||
| 312 | 90.4 | 628 | 456 | −48.5 | ||
| −209 | −326 | 91.1 | 17.8 | −186 | ||
| −2.1% | −3.7% | 1.0% | 0.2% | −2.6% | ||
| −₹1.57 | −₹2.46 | ₹0.69 | ₹0.13 | −₹1.40 | ||
| — | −457.7% | +411.4% | +109.6% | — | ||
| — | 1,653 | 892 | 1,005 | 484 | ||
| — | −890 | −664 | −712 | −965 | ||
| 763 | 763 | 228 | 293 | −481 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 30,896.3 | |
| - Cash, Equiv & ST Investments | 622.7 | 501.5 | 388.5 | 1,331.7 | 806.5 | |
| + Minority Interest | — | — | 0.0 | 0.0 | 22.5 | |
| + Total Debt | 5,504.8 | 4,558.9 | 4,720.3 | 5,495.5 | 5,495.5 | |
| Enterprise Value | — | — | — | — | 35,607.8 | |
| Revenue | 7,081.6 | 8,171.2 | 9,151.2 | 8,869.1 | 9,778.6 | |
| Growth %, YoY | — | +15.4 | +12.0 | -3.1 | — | |
| EBITDA | 628.2 | 1,196.3 | 1,444.8 | 921.6 | 1,200.2 | |
| Margin % | 8.87 | 14.64 | 15.79 | 10.39 | 12.27 | |
| EBIT | -48.5 | 455.7 | 628.5 | 90.4 | 312.4 | |
| Net Income | -186.5 | 17.8 | 91.1 | -325.9 | -209.4 | |
| Margin % | -2.63 | 0.22 | 1.00 | -3.68 | -2.14 | |
| EPS, Adj (current shares) | -1.40 | 0.13 | 0.69 | -2.46 | -1.57 | |
| Growth %, YoY | — | +109.6 | +411.4 | -457.7 | — | |
| Cash from Operations | 483.9 | 1,004.5 | 892.3 | 1,652.6 | — | |
| Capital Expenditures | -964.8 | -712.0 | -664.4 | -890.0 | — | |
| Free Cash Flow | -480.9 | 292.5 | 227.9 | 762.6 | 762.6 | |
Prices at the 29 October 2026 close · figures from the company's filings with NSE
Piramal Pharma (NSE: PPLPHARMA) had a market capitalisation of ₹30,657 crore at the 29 October 2026 close (₹230.78 a share) and a price-to-book ratio of 3.77. In FY26 its consolidated net loss was ₹326 crore on revenue of ₹8,869 crore; in Q2 FY27 (July–September 2026) it was ₹5.6 crore. Its debt-to-equity ratio was 0.69 on 30 September 2026. Promoters held 34.80% of the shares on 30 September 2026.
Piramal Pharma's PE ratio is not meaningful at the 29 October 2026 close: its consolidated net profit attributable to shareholders over the last four quarters (Q3 FY26 to Q2 FY27) was a loss of ₹209 crore, and a price-to-earnings ratio needs positive earnings. Its market capitalisation was ₹30,657 crore at ₹230.78 a share.
Piramal Pharma's net worth — shareholders' equity in its consolidated balance sheet — was ₹8,142 crore on 30 September 2026, up 0.8% from ₹8,074 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹30,657 crore at the 29 October 2026 close.
Piramal Pharma's book value per share was ₹61.29 on 30 September 2026: shareholders' equity of ₹8,142 crore divided by the 132.84 crore shares in issue, up 0.6% from ₹60.91 a year earlier. The share price at the 29 October 2026 close was ₹230.78.
Piramal Pharma's price-to-book (PB) ratio is 3.77 at the 29 October 2026 close: a market capitalisation of ₹30,657 crore divided by shareholders' equity (book value) of ₹8,142 crore on 30 September 2026. That is a book value of ₹61.29 per share against a share price of ₹230.78.
In FY26, Piramal Pharma's return on equity (ROE) was −4.0% and its return on capital employed (ROCE) was 0.7%. ROE is net profit attributable to shareholders divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 1.1% and ROCE 5.5%.
On 30 September 2026, Piramal Pharma's shares were held by promoters 34.80%, foreign portfolio investors (FII/FPI) 13.65%, domestic institutions (DII) 14.44% (including mutual funds at 12.71%) and retail and other non-institutional investors 36.71%. Over the year, FII holding was down 16.62 percentage points from 30.27% and DII holding was down 0.45 percentage points from 14.89%.
Piramal Pharma's market capitalisation was ₹30,657 crore at the 29 October 2026 close: 132.84 crore shares at ₹230.78 each.
No. Piramal Pharma had borrowings of ₹5,665 crore on 30 September 2026 (consolidated balance sheet), a debt-to-equity ratio of 0.69. Its cash and current investments were ₹830 crore, so its net debt was ₹4,835 crore.
Piramal Pharma's basic earnings per share (EPS) were −₹2.46 in FY26. Over the last four quarters (Q3 FY26 to Q2 FY27) they add up to −₹1.58.
Piramal Pharma's debt-to-equity ratio was 0.69 on 30 September 2026: borrowings of ₹5,665 crore against total equity of ₹8,165 crore. A year earlier, on 30 September 2025, it was 0.58.
In FY26, Piramal Pharma generated ₹1,653 crore of cash from operations and spent ₹890 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of ₹763 crore. In FY25 it was ₹228 crore.
In FY26 (April 2025–March 2026), Piramal Pharma's consolidated net loss was ₹326 crore, against a profit of ₹91.1 crore in FY25, on revenue from operations of ₹8,869 crore (down 3.1%).
Promoters held 34.80% of Piramal Pharma on 30 September 2026, unchanged from the previous quarter and down 0.06 percentage points from 34.86% a year earlier, according to the shareholding pattern filed with NSE.
Piramal Pharma's latest results are for Q2 FY27 (July–September 2026), filed on 27 October 2026: consolidated net profit attributable to shareholders ₹5.6 crore, against a loss of ₹99.2 crore in Q2 FY26; revenue from operations ₹2,617 crore, up 28.1% year on year.
Piramal Pharma has reported Q2 FY27. Its next results, for Q3 FY27 (October–December 2026), are due by 14 February 2027 under SEBI's 45-day rule; the company notifies the board-meeting date at least two working days before.
On FY26 consolidated figures, against Divi's Labs, Syngene International and Gland Pharma: Piramal Pharma's operating margin of 1.0% is the lowest of the four (Divi's Labs 28.2%, Syngene International 12.5%, Gland Pharma 18.8%; peer average 19.8%); its return on equity of −4.0% is the lowest of the four (Divi's Labs 16.2%, Syngene International 6.6%, Gland Pharma 10.5%; peer average 11.1%); its revenue growth over three years of 7.8% a year is the third highest of the four (Divi's Labs 10.8% a year, Syngene International 5.4% a year, Gland Pharma 21.1% a year; peer average 12.4% a year).
In FY26, Piramal Pharma earned net profit attributable to shareholders of ₹326 crore on revenue of ₹8,869 crore, against ₹2,568 crore on ₹10,560 crore for Divi's Labs. Piramal Pharma's operating margin was 1.0% (Divi's Labs 28.2%) and its return on equity −4.0% (Divi's Labs 16.2%). At the 29 October 2026 close, Piramal Pharma's market capitalisation was ₹30,657 crore against ₹2,56,096 crore for Divi's Labs.
From Piramal Pharma's own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 29 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.