Revenue from operations for the period under review declined by 1% year-over-year (YoY) to Rs 1,934 crore.

EBITDA fell by 26% to Rs 165 crore in Q1 FY26 from Rs 224 crore in Q1 FY25. EBITDA margin for Q1 FY26 was 9% as against 11% in Q1 FY25, primarily impacted by inventory destocking. This was partly offset by improved profitability of the overseas facilities in the CDMO business.

The company posted a pre-tax loss of Rs 79 crore in the June’25 quarter as against a pre-tax loss of Rs 45 crore registered in the same period last year.

Nandini Piramal, chairperson, Piramal Pharma, said: “Excluding the impact of destocking in one large on-patent commercial product, our CDMO business delivered mid-teen revenue growth during the quarter accompanied by improvement in EBITDA margin, especially at our overseas sites.

Growth in our CHG business is also expected to pick up for the remaining part of the year given the timing of some of the institutional orders. Our consumer business delivered healthy growth, in-line with our expectations, driven by power brands and e commerce sales.

Withstanding the near-term challenges, we believe we are on track to achieve our FY2030 aspirations of becoming a $2 billion revenue company with 25% EBITDA margin and high-teen ROCE.”

Piramal Pharma (PPL) offers a portfolio of differentiated products and services through end-to-end manufacturing capabilities across 17 global facilities and a global distribution network in over 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated Contract Development and Manufacturing Organization; Piramal Critical Care (PCC), a Complex Hospital Generics business; and the India Consumer Healthcare business, selling over-the-counter products.

The scrip tumbled 4.80% to currently trade at Rs 194.55 on the BSE.