Piramal Pharma Reports Decline in Revenue and Profit for Q3 and 9M FY26

Piramal Pharma Limited, based in Mumbai, disclosed its financial results for the third quarter and nine months ended December 2025. The company reported a 3% year-on-year decline in Q3 revenue, with figures at ₹2,140 crores compared to ₹2,204 crores in Q3FY25. The decline was attributed to inventory destocking and slower order inflows in the Contract Development and Manufacturing Organization (CDMO) segment.

The EBITDA also experienced a significant drop, showing a 32% decrease from the previous year's quarter. Despite cost optimization efforts, the EBITDA margin fell from 16% in Q3FY25 to 11% in Q3FY26.

Positive indicators include increasing Request for Proposals (RFPs) and recovery in biopharma funding since October 2025. The company is investing US$ 90 million to expand facilities in Lexington and Riverview, indicating future growth potential. An agreement to acquire Kenalog® aims to bolster the Complex Hospital Generics portfolio.