MarketFriction

Piramal Pharma Ltd

NSE PPLPHARMA · BSE 543635 · Pharmaceuticals
₹197.97 -4.14%
NSE close2026-10-01
52 week range132.30 - 231.93
Market cap₹27,834 Cr.
Nifty 500Nifty Smallcap 50Nifty Smallcap 100Smallcap 250Nifty Pharma Price band 20% Delivery 41.8%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,9111,9592,5521,9512,2422,2042,7541,9342,0442,1402,7522,270
Expenses1,6461,6902,0221,7471,9001,8662,1931,8271,8851,9442,2912,075
Operating Profit266268530204342338561107159196461195
OPM %14%14%21%10%15%15%20%6%8%9%17%9%
Other Income6843842782958988012-116109
Interest1101061141071081031048682898388
Depreciation185186196185192197243197203213218224
Profit before tax4019227-4512067273-79-46-9443-7
Tax %87%48%55%97%81%94%44%3%115%45%121%830%
Net Profit510101-89234154-82-99-136-9-69
EPS in Rs0.040.080.77-0.670.170.031.16-0.61-0.75-1.02-0.07-0.52
Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales6,3156,5597,0828,1719,1518,8699,205
Expenses4,8875,6096,4536,9747,7067,9478,195
Operating Profit1,4289506291,1971,4459221,010
OPM %23%14%9%15%16%10%11%
Other Income2303192721722087486
Interest163198344448422341343
Depreciation545586677741816831858
Profit before tax949485-120179415-176-104
Tax %12%22%55%90%78%85%
Net Profit835376-1861891-326-314
EPS in Rs-1.410.130.69-2.45-2.36
Dividend Payout %0%18%0%82%20%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth%7%8%1%
Compounded Profit Growth%%-31%-296%
Stock Price CAGR%%27%9%
Return on Equity%0%-1%-4%
Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital9951,1861,1931,3231,3241,327
Reserves4,6105,5115,5806,5886,8016,835
Borrowings3,0254,1285,6374,7104,8565,675
Other Liabilities2,0471,7811,8932,4612,4473,770
Total Liabilities10,67712,60514,30315,08315,42917,607
Fixed Assets6,1056,8797,4697,9908,1338,684
CWIP6271,1721,4191,1169771,100
Investments123267639385291437
Other Assets3,8224,2864,7775,5926,0287,386
Total Assets10,67712,60514,30315,08315,42917,607
Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity5987664841,0058921,653
Cash from Investing Activity-4,464-1,737-1,334-416-488-820
Cash from Financing Activity3,977794818-422-441-39
Net Cash Flow110-177-32166-37794
Free Cash Flow-5-91-461294233776
CFO/OP52%98%107%97%85%202%
Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days919993959489
Inventory Days218207227269261345
Days Payable163153161190173279
Cash Conversion Cycle147153159174182155
Working Capital Days443613216044
ROCE %7%2%5%6%3%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters35.02%35.02%35.02%34.94%34.94%34.94%34.94%34.85%34.85%34.85%34.85%34.80%
FIIs32.37%32.51%30.58%31.41%31.73%31.68%31.49%30.86%30.27%29.66%30.17%12.51%
DIIs8.01%9.68%12.12%12.95%13.80%14.09%14.78%14.25%14.89%15.68%15.61%14.57%
Public24.21%22.41%21.89%20.20%19.06%18.85%18.42%19.46%19.46%19.35%19.01%37.62%
Others0.38%0.38%0.37%0.47%0.45%0.40%0.34%0.57%0.51%0.44%0.34%0.48%
No. of Shareholders3,00,6062,92,3122,97,9963,06,3983,59,7514,18,4424,32,8434,58,4304,62,5114,53,8304,50,6614,61,096

Fundamentals

Market Cap₹ 27,834 Cr.
Current Price₹ 209
Book Value₹ 61.4
ROCE2.52 %
ROE-3.83 %
Dividend Yield0.07 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)1%
Compounded Profit Growth (TTM)-296%
Consolidated figures.
Valuation
Market capRs 23,478 Cr
Enterprise valueRs 27,276 Cr
Price to book3.51x
Price to sales2.55x
EV / EBITDA24.89x
EV / EBIT114.50x
EV / sales2.96x
Price to cash flow30.63x
Earnings yield-1.34%
Dividend yield0.28%
Profitability
Operating margin (excl. other income)14.49%
Operating margin (incl. other income)19.35%
EBITDA margin11.90%
Pre-tax margin-1.14%
Net profit margin-3.41%
Net margin, latest quarter-3.06%
ROE6.11%
ROCE7.02%
ROA3.23%
ROIC (approx.)1.76%
Tax rate22.48%
Other income / net worth4.77%
Growth
Sales growth (latest year)3.87%
Profit growth (latest year)-54.98%
Sales growth QoQ-17.51%
Sales growth YoY (latest quarter)17.39%
Per share
EPS (TTM)Rs -2.64
EPS (latest year)Rs 3.17
EPS (latest quarter)Rs -0.59
Book value per shareRs 56.47
Sales per shareRs 77.62
Cash flow per shareRs 6.46
Free cash flow per shareRs 6.54
Dividend per share (latest year)Rs 0.56
Dividends
Dividend payout17.66%
Efficiency
Asset turnover0.52x
Fixed asset turnover0.95x
Inventory turnover2.22x
Inventory days164 days
Debtor days99 days
Debtors turnover3.67x
Creditor days279 days
Cash conversion cycle155 days
Working capital days44 days
Leverage
Total debtRs 4,128 Cr
Cash and bankRs 329 Cr
Net debtRs 3,799 Cr
Debt to equity0.62x
Net debt / EBITDA3.47x
Interest coverage0.70x
Current ratio (filing 2026-03-31)1.51x
Quick ratio (filing 2026-03-31)0.87x
Trade payables (filing 2026-03-31)Rs 2,479 Cr
Owners' fund to total sources53.13%
Debt to assets32.75%
Cash flow
Cash from Operating Activity (latest year)Rs 766 Cr
Cash from Investing Activity (latest year)Rs -1,737 Cr
Cash from Financing Activity (latest year)Rs 794 Cr
Net Cash Flow (latest year)Rs -177 Cr
Free cash flow (latest year)Rs 776 Cr
FCFE (approx.: FCF + change in debt)Rs 1,879 Cr
Sales to cash flow8.56x
Statement figures
Net sales (TTM)Rs 9,205 Cr
Net sales (latest year)Rs 6,559 Cr
Sales (latest quarter)Rs 2,270 Cr
Operating profit excl. other income (latest year)Rs 950 Cr
Operating profit (latest quarter)Rs 195 Cr
Other income (TTM)Rs 86 Cr
EBITDA (TTM)Rs 1,096 Cr
PBDT (TTM)Rs 753 Cr
Profit before tax (TTM)Rs -104 Cr
Tax (latest year)Rs 109 Cr
Net profit (TTM)Rs -314 Cr
Net profit (latest year)Rs 376 Cr
Net profit (latest quarter)Rs -69 Cr
Depreciation (TTM)Rs 858 Cr
Depreciation (latest quarter)Rs 224 Cr
Interest (TTM)Rs 343 Cr
Cost of goods sold (latest year)Rs 3,082 Cr
Total expenditure (latest year)Rs 5,609 Cr
Total income (latest year)Rs 6,878 Cr
Share capitalRs 1,186 Cr
ReservesRs 5,511 Cr
Shareholders' fundsRs 6,697 Cr
Total assetsRs 12,605 Cr
Net blockRs 6,879 Cr
Capital work in progressRs 1,172 Cr
InvestmentsRs 267 Cr
ReceivablesRs 1,785 Cr
InventoryRs 1,389 Cr
Other liabilitiesRs 1,781 Cr
Shares outstanding (crore)118.59
Ownership
Promoter holding34.80% (-0.05 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
PeriodPPLPHARMANifty 50Difference
1 week-4.9%-2.8% -2.1 pts
1 month-7.1%-6.8% -0.4 pts
3 months+12.5%-7.6% +20.1 pts
6 months+45.0%+0.4% +44.6 pts
1 year+1.4%-9.9% +11.3 pts
2 years-10.6%-13.6% +2.9 pts
3 years+94.0%+14.2% +79.8 pts
89 mutual fund schemes hold about ₹3,782 Cr. Over three months 69 bought more and 10 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
HDFC Flexi Cap Fund1.44%1,639 -10%
Nippon India Pharma Fund2.25%213 +95%
Bandhan Small Cap Fund0.62%212 -6%
Canara Rob Small Cap Fund1.29%189 +56%
Franklin India Opportunities Fund1.36%132 +7%
Bajaj Finserv Flexi Cap Fund1.49%122 +11%
Franklin India Small Cap Fund0.74%110 +43%
Nippon India Small Cap Fund0.13%107 +100%
ICICI Pru Multi Cap Fund0.47%91 +5%
ICICI Pru Multi Cap Fund0.47%87 +5%
Canara Rob Aggressive Hybrid Fund(M0.59%68 +11%
Canara Rob ELSS-Tax Saver Fund0.71%62 +12%
Nippon India Value Fund0.65%59 +12%
Bajaj Finserv Small Cap Fund2.01%53 +19%
HDFC Manufacturing Fund0.48%51 +9%
Franklin India Multi Cap Fund0.81%43 +32%
Axis Multicap Fund0.34%38 +100%
Bajaj Finserv Large & Mid Cap Fund1.48%37 +47%
Axis India Manufacturing Fund0.54%31 +100%
Canara Rob Multi Cap Fund0.50%29 +28%
Bajaj Finserv Healthcare Fund6.72%27 -1%
ICICI Pru Mid Cap Fund0.28%23 +6%
Helios Small Cap Fund1.56%23 +99%
LIC MF Manufacturing Fund2.84%22 +13%
ICICI Pru Mid Cap Fund0.28%22 +6%

Red flags

F-score 3 of 8
explainDebt up, profit down Borrowings up 36% while net profit fell in 2026
lookShare dilution Share count up 19% in a year
lookProfit leans on other income Other income was 66% of pre-tax profit in 2026
lookRegulator order or action Regulator order or action 2026-06-03: Permanent revocation of closure directions for Company s Dahej Site
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹2,270 Cr +17.4% vs Jun 2025. Net loss ₹69 Cr.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2025-07-16Dividend - Re 0.14 Per Share
2024-07-12Dividend - Rs 0.11 Per Share
2023-08-02Rights 5:46 @ Premium Rs 71/-
DateTypeWhat it says
2026-10-01UpdatesDisclosure under Regulation 30 of the SEBI (Listing Obligations and DisclosureRequirements) Regulations, 2015 - Expiry and Non-Renewal of CommercialAr...
2026-10-01News clarificationThe Exchange has sought clarification from Piramal Pharma Limited with respect to recent news item captioned Ontario Contributes $1.7 Million Investme...
2026-09-30Change in ManagementDisclosure pursuant to Regulation 30 of the Securities and Exchange Board of India(Listing Obligations and Disclosure Requirements) Regulations, 2015 ...
2026-09-30Change in ManagementDisclosure pursuant to Regulation 30 of the Securities and Exchange Board of India(Listing Obligations and Disclosure Requirements) Regulations, 2015 ...
2026-09-30News clarificationThe Exchange has sought clarification from Piramal Pharma Limited with respect to recent news item captioned Ontario Contributes $1.7 Million Investme...
2026-09-29LitigationDisclosure under Regulation 30 of Securities and Exchange Board of India(Listing Obligations and Disclosure Requirements) Regulations, 2015
2026-09-18General UpdatesDisclosure under Regulation 30 of Securities and Exchange Board of India(Listing Obligations and Disclosure Requirements) Regulations, 2015 ESG Rat...
2026-09-14General UpdatesDisclosure under Regulation 30 of Securities and Exchange Board of India(Listing Obligations and Disclosure Requirements) Regulations, 2015 FDA Insp...
2026-09-08Concall / analyst meetIntimation of Schedule of Institutional Investor Meetings under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
2026-09-03General UpdatesDisclosure Under Regulation 30 Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015 - ESG Rat...
2026-08-24UpdatesSustainability Report of Piramal Pharma Limited ( the Company ) for thefinancial year 2025-26-26
2026-08-18AcquisitionAcquisition
2026-08-10UpdatesExercise of call option for acquisition of additional equity stake in Yapan Bio PrivateLimited.
2026-08-10Concall / analyst meetIntimation of Schedule of Analyst/ Institutional Investor Meetings under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
2026-08-03UpdatesDisclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Resumption of operations at Company s...
2026-07-31Concall / analyst meetTranscript
2026-07-30Shareholder meetingProceedings and Voting Results of the 6th Annual General Meeting of the Company
2026-07-30Concall / analyst meetLink of Recording
2026-07-29Concall / analyst meetPresentation
2026-07-29Investor PresentationInvestor Presentation
2026-07-29Press ReleaseA press release dated July 29, 2026, titled "Piramal Pharma Limited Announces Results for Q1 FY27".
2026-07-29Board meeting outcomePiramal Pharma Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-29General UpdatesRegulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 -Grant of stock option...
2026-07-24UpdatesPlease refer attachment.
2026-07-20Concall / analyst meetSchedule of meet
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
EPS in the scrip is zero (4 trailing quarters)

Quick answers

What is the market cap of Piramal Pharma Ltd?

Piramal Pharma Ltd (PPLPHARMA) has a market capitalisation of Rs 27,834 Cr. at the 2026-10-01 close.

What were Piramal Pharma Ltd's latest quarterly results?

In the Jun 2026 quarter, Piramal Pharma Ltd sales was Rs 2,270 Cr (+17.4% vs Jun 2025) with a net loss of Rs 69 Cr.

What is the 52-week high and low of Piramal Pharma Ltd?

The 52-week high is Rs 231.93 and the 52-week low is Rs 132.30.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03