Consolidated Financial Performance Q1 FY27

Revenue Performance:

  • Revenue from Operations: ₹2,270 Cr in Q1FY27 vs ₹1,934 Cr in Q1FY26, representing 17% YoY growth
  • Segment-wise Revenue Breakdown:
  • CDMO Business: ₹1,187 Cr (19% YoY growth from ₹997 Cr)
  • Complex Hospital Generics (CHG): ₹743 Cr (17% YoY growth from ₹637 Cr)
  • Piramal Consumer Healthcare (PCH): ₹347 Cr (15% YoY growth from ₹302 Cr)

Profitability Metrics:

  • EBITDA: ₹285 Cr in Q1FY27 vs ₹165 Cr in Q1FY26, representing 72% YoY growth
  • EBITDA Margin: 12.5% in Q1FY27 vs 8.5% in Q1FY26, representing 400 basis points expansion
  • PAT (before exceptional item): Loss of ₹69 Cr in Q1FY27 vs loss of ₹102 Cr in Q1FY26, 32% improvement
  • Exceptional Item: None in Q1FY27 vs ₹21 Cr in Q1FY26 (one-time insolvency proceeds from NCLT claim)
  • PAT (after exceptional item): Loss of ₹69 Cr in Q1FY27 vs loss of ₹82 Cr in Q1FY26, 15% improvement

Expense Analysis:

  • Material Cost: ₹852 Cr (23% increase YoY from ₹694 Cr)
  • Employee Expenses: ₹676 Cr (9% increase YoY from ₹619 Cr)
  • Other Expenses: ₹547 Cr (6% increase YoY from ₹514 Cr)
  • Interest Expenses: ₹88 Cr (2% increase YoY from ₹86 Cr)
  • Depreciation: ₹224 Cr (13% increase YoY from ₹197 Cr)
  • Share of Net Profit of Associates: ₹20 Cr (5% increase YoY from ₹19 Cr)
  • Tax: ₹62 Cr (2,211% increase YoY from ₹3 Cr)

Business Segment Highlights

Contract Development and Manufacturing Organization (CDMO):

  • Delivered 19% revenue growth driven by broad-based performance across India and overseas sites
  • Strengthened commercial capabilities through expanded commercial team and deeper customer engagement
  • Improved Biopharma funding supported increase in RFPs (H1CY26 funding up over 100% vs H1CY25)
  • Margin expansion across most sites driven by improved utilization, pricing discipline and operational excellence
  • Maintained Zero OAI status with Sellersville facility receiving Establishment Inspection Report from US FDA
  • ADC Capability Expansion:
  • Commercial-scale payload-linker suite inaugurated at Riverview (US)
  • Lexington (US) sterile injectable capacity expansion on track
  • Strategic partnership with Ajinomoto Bio-Pharma Services for next-gen conjugation technology

Complex Hospital Generics (CHG):

  • Delivered 17% revenue growth
  • Inhalation Anesthesia: Maintained US leadership with 48% value share in Sevoflurane (Source: IQVIA)
  • Encouraging traction across select ex-US markets
  • Intrathecal Therapy: Maintained #1 position in US intrathecal Baclofen market (Source: IQVIA)
  • Injectable Pain Management: Collaborating with suppliers to enhance product availability
  • Kenalog® integration progressing with supplies expected to start from Q2FY27
  • Continued investments in 505(b)(2) products, complex generics, and differentiated portfolio

Piramal Consumer Healthcare (PCH):

  • Delivered 15% revenue growth
  • Power Brands grew 23% YoY and contributed 53% of PCH sales
  • E-commerce grew 40% YoY and contributed 28% of PCH sales
  • Launched new master brand "i-choose" for women's intimate care portfolio
  • Invested approximately 12% of sales in media and trade promotion across digital and traditional channels
  • Premiumization, judicious pricing and cost-optimization initiatives helped mitigate raw-material inflation
  • Distribution reach: 180,000+ chemists & cosmetic shops, 13,000+ modern trade outlets, 20+ e-commerce platforms

Management Commentary

Nandini Piramal, Chairperson, stated: "We have started FY27 on a strong note, with all three businesses delivering mid-to-high teens revenue growth alongside meaningful EBITDA margin expansion. Our CDMO business delivered broad-based growth across India and overseas sites, supported by an enhanced commercial team, healthy RFP activity and order inflows, and strong execution. In Complex Hospital Generics, we maintained leadership in key therapies, gained traction in ex-US inhalation anesthesia markets, and continued progression on integration of Kenalog®. Our Consumer Healthcare business delivered yet another quarter of robust growth, driven by Power Brands, e-commerce, wider distribution, premiumization, and disciplined brand investments.

Encouraged by this momentum, we look forward to delivering sustained revenue growth and EBITDA expansion through FY27, while staying agile amid a dynamic external environment."

Additional Information

  • Company operates 17 global development and manufacturing facilities with distribution in over 100 countries
  • Associate company Abbvie Therapeutics India Private Limited is market leader in ophthalmology therapy in India
  • Strategic minority investment in Yapan Bio Private Limited operating in biologics/biotherapeutics and vaccine segments
  • Earnings conference call scheduled for 30th July 2026 from 9:30 AM to 10:15 AM IST

Quality and Regulatory Status

  • Maintained Zero OAI (Official Action Indicated) status to date
  • Sellersville facility received Establishment Inspection Report from US FDA
  • Business maintains best-in-class quality track record