Piramal Pharma Ltd

Piramal Pharma Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Piramal Pharma Ltd

₹ 210 0.63%
07 Aug - close price
piramal.com BSE: 543635 NSE: PPLPHARMA
About

Piramal Pharma Limited (PPL) is part of the Piramal group of companies. The company operates through 3 major segments
(1) Contract development and manufacturing organisations (CDMO), (2) Complex hospital generics (critical care), and (3) consumer healthcare (OTC).
Company entered Pharma space back in 1988 with acquisition of Nicholas Laboratories and grew through a series of Mergers & Acquisitions[1] and various organic initiatives. In 2010 the Domestic formulations business was sold to Abott for $3.7 billion[2] and Diagnostic Services was sold to Super Religare Laboratories (SRL)[3]

Key Points

Business units [1]
(1) Contract Development and Manufacturing Operations (CDMO)
The company operates out of 15 CDMO sites with major presence in North America (4), Europe(2) and India (9). It is amongst the Top 3 CDMO players in India and the 13th largest globally.
The company has ~500 CDMO customers as of FY24. [2]
The company is targeting more integrated projects, 40% of their new orders in FY24 were for integrated projects.
Revenue by Services[3]
Other Commercial Manufacturing - 50%
On-patent Commercial Manufacturing - 20%
Development - 26%
Discovery - 4%
84% of the revenues is earned from regulated markets like US, Europe and Japan. [4]

Website BSE NSE
  • Market Cap ₹ 27,898 Cr.
  • Current Price ₹ 210
  • High / Low ₹ 212 / 132
  • Stock P/E 36.0
  • Book Value ₹ 61.2
  • Dividend Yield 0.07 %
  • ROCE 11.8 %
  • ROE 9.84 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 3.42 times its book value
  • The company has delivered a poor sales growth of 10.2% over past five years.
  • Company has a low return on equity of 8.84% over last 3 years.
  • Earnings include an other income of Rs.504 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Healthcare Healthcare Pharmaceuticals & Biotechnology Pharmaceuticals

Part of BSE 500 Nifty 500 Nifty Smallcap 100 BSE SmallCap Select Index BSE 250 SmallCap Index

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
846 994 1,024 1,525 1,063 1,284 1,248 1,690 970 1,127 1,196 1,489 1,125
830 908 899 1,136 912 1,032 1,029 1,273 926 1,000 1,029 1,186 1,008
Operating Profit 17 86 126 390 152 253 219 417 44 127 167 303 117
OPM % 2.0% 9% 12% 26% 14% 20% 18% 25% 4.6% 11% 14% 20% 10%
27 89 33 53 37 106 25 40 181 202 69 118 115
Interest 34 28 17 28 25 30 29 31 23 20 17 20 16
Depreciation 50 51 52 52 52 54 55 61 59 61 65 70 66
Profit before tax -41 96 90 363 112 276 159 364 143 247 155 332 149
Tax % -18% 20% 17% 25% 24% 24% 25% 24% 21% 21% 17% 21% 24%
-33 77 74 273 85 210 119 277 113 196 129 262 113
EPS in Rs -0.25 0.58 0.56 2.06 0.64 1.58 0.90 2.09 0.85 1.48 0.97 1.97 0.85
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
2,939 3,340 3,443 4,390 5,286 4,782 4,937
2,320 2,864 3,345 3,772 4,245 4,140 4,222
Operating Profit 619 476 98 618 1,040 642 715
OPM % 21% 14% 2.8% 14% 20% 13% 14%
216 209 334 202 207 570 504
Interest 5 57 116 107 115 80 73
Depreciation 144 165 192 205 222 256 262
Profit before tax 687 462 124 508 911 877 884
Tax % 17% 20% 44% 23% 24% 20%
572 368 70 391 691 700 700
EPS in Rs 0.53 2.96 5.22 5.27 5.27
Dividend Payout % 0% 18% 0% 4% 3% 0%
Compounded Sales Growth
10 Years: %
5 Years: 10%
3 Years: 12%
TTM: -5%
Compounded Profit Growth
10 Years: %
5 Years: 7%
3 Years: 119%
TTM: 8%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 28%
1 Year: 10%
Return on Equity
10 Years: %
5 Years: 7%
3 Years: 9%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 995 1,186 1,193 1,323 1,324 1,327
Reserves 3,106 3,937 4,068 5,389 6,128 6,814
174 1,164 1,649 1,177 1,243 786
1,482 1,083 1,131 1,662 1,696 2,826
Total Liabilities 5,757 7,371 8,042 9,551 10,392 11,753
1,627 2,439 2,602 2,612 2,894 3,036
CWIP 121 405 417 533 327 221
Investments 1,592 1,630 1,747 1,708 3,105 3,580
2,417 2,897 3,277 4,697 4,065 4,917
Total Assets 5,757 7,371 8,042 9,551 10,392 11,753

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
35 249 72 358 549 1,328
-4,383 -1,165 -435 -635 -552 -318
4,494 896 290 451 -62 -615
Net Cash Flow 146 -19 -73 175 -65 395
Free Cash Flow -20 18 -171 33 267 1,040
CFO/OP 21% 74% 135% 71% 75% 225%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 104 108 96 111 115 107
Inventory Days 125 125 169 200 196 330
Days Payable 174 151 157 192 193 355
Cash Conversion Cycle 56 82 108 119 118 83
Working Capital Days 18 38 25 63 73 74
ROCE % 10% 4% 8% 12% 12%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
CDMO Customer Audits (Annual)
count

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Differentiated Offerings Share of CDMO Revenue
%
CDMO Innovation-Related Work Share of Revenue
%
CDMO Molecules in Phase III
count
CDMO On-Patent Commercial Manufacturing Revenue
US$ Mn
PCH E-Commerce Share of PCH Sales
%
PCH Power Brands Share of PCH Sales
%
US Sevoflurane Market Share (Value)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

1 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
35.02% 35.02% 35.02% 34.94% 34.94% 34.94% 34.94% 34.85% 34.85% 34.85% 34.85% 34.80%
32.37% 32.51% 30.58% 31.41% 31.73% 31.68% 31.49% 30.86% 30.27% 29.66% 30.17% 12.51%
8.01% 9.68% 12.12% 12.95% 13.80% 14.09% 14.78% 14.25% 14.89% 15.68% 15.61% 14.57%
24.21% 22.41% 21.89% 20.20% 19.06% 18.85% 18.42% 19.46% 19.46% 19.35% 19.01% 37.62%
0.38% 0.38% 0.37% 0.47% 0.45% 0.40% 0.34% 0.57% 0.51% 0.44% 0.34% 0.48%
No. of Shareholders 3,00,6062,92,3122,97,9963,06,3983,59,7514,18,4424,32,8434,58,4304,62,5114,53,8304,50,6614,61,096

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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