Piramal Pharma Q3 Results: Co reports loss as CDMO slowdown drags revenue
The company attributed the muted performance to inventory destocking in one large on-patent commercial product by customer and slower early-stage order inflows in H1FY26 due to inconsistent recovery in US biopharma funding. In addition to that uncertainties on global trade policies, and regulatory delays in inhalation anesthesia for ex-US markets from Digwal facility also impacted revenue growth.
“FY26 has been a muted year for the company due to impact of inventory destocking and slower early-stage order inflows in H1FY26 in our CDMO business,” said Nandini Piramal, Chairperson, Piramal Pharma.
“However, in recent time, we are seeing early signs of recovery with pick-up in RFPs and order inflows on the back of improved biopharma funding and increased M&A activities in the US healthcare space. In our CHG business, we are investing in new products and expanding our presence in the ex-US markets,” she added.
“Acquiring niche brand like Kenalog, which is synergetic to our current business, is an important step in this direction. Our consumer business continues to outperform in its representative markets with robust growth in our power brands,” she added.
Despite lower revenues, impact on EBITDA was partly offset by efforts towards cost optimization and operational excellence.
Piramal said that despite the slower growth in FY26, the company continues “to believe in long term growth prospects of our businesses and back them with timely investments in capacities and capabilities.”“Q4 has been historically the strongest quarter for the Company, and we expect this trend to continue this year as well,” she added.
