Piramal Pharma shares recover from lows, surge 3% after Co affirms FY26 guidance

Shares of Piramal Pharma Ltd. opened lower on Thursday, January 29, but pared early losses after the company reaffirmed its FY26 guidance.

Despite the near-term slowdown, Piramal Pharma maintained a positive long-term outlook, saying it continues to believe in the growth potential of its businesses and remains committed to supporting this through timely investments in capacity and capabilities.

The company also noted that the March quarter has historically been its strongest and expects this trend to continue in the current financial year as well.

Piramal Pharma reported a weak performance for the December quarter. It posted a net loss of ₹136.2 crore, compared with a profit of ₹3.7 crore in the same period last year.

Revenue declined 2.9% year-on-year to ₹2,139.87 crore, while EBITDA fell sharply by 42% from the year-ago quarter.

Segment-wise, the contract development and manufacturing organisation (CDMO) business saw the steepest impact, with revenue declining 9% year-on-year to ₹1,166 crore from ₹1,278 crore.

The complex hospital generics segment reported modest growth, with revenue rising 2% to ₹668 crore from ₹654 crore a year ago. Consumer healthcare was the bright spot, posting a strong 20% year-on-year growth to ₹334 crore compared with ₹278 crore in the corresponding quarter last year.

The company said its quarterly performance was impacted by multiple factors. These included inventory destocking by a key customer in a large on-patent commercial product, slower early-stage order inflows during the first half of FY26 due to an uneven recovery in US biopharma funding, and uncertainties around global trade policies.

In addition, regulatory delays related to inhalation anaesthesia approvals for ex-US markets from the Digwal facility weighed on performance.

Looking ahead, Piramal Pharma said it is seeing a meaningful pickup in request-for-proposal activity, with early signs of recovery in order inflows since October 2025. The company attributed this improvement to better funding conditions in the US biopharma space and increased merger and acquisition activity.

On the investment front, the company reiterated its growth capex plans, including a $90 million investment to expand its Lexington and Riverview facilities in the US.