Q2 2026 Piramal Pharma Ltd Earnings Call Transcript
Key Points
- Piramal Pharma Ltd (BOM:543635) successfully maintained a best-in-class quality and compliance track record with 0 OAIS and closed 19 inspections, including a US FDA inspection, without any observations.
- The company reported a reduction in net debt by INR228 crores over March 2025, maintaining it at less than 3 times EBITDA.
- There has been a significant uptick in biopharma funding in recent months, indicating early signs of recovery and potential for increased order inflows.
- The consumer healthcare business continued to deliver sustained growth of 15% during the quarter, driven by robust growth in power brands.
- Piramal Pharma Ltd (BOM:543635) is investing in expanding its capabilities and capacities in North America and the UK, positioning itself to capitalize on emerging strong interest for onshore facilities.
- The company experienced a year-over-year decline in revenue due to inventory destocking by a customer in a large CDO order for an unpatented commercial product.
- EBITDA margins moderated to 11% for the quarter and 10% for the half-year, impacted by the revenue shortfall.
- There was a slower than expected pickup in early-stage discovery and development orders due to inconsistent recovery in US biopharma funding and global trade policy uncertainties.
- Sales of intrathecal therapy were subdued due to temporary supply challenges, which are expected to normalize in the second half of FY26.
- The company has moderated its full-year guidance to remain flat, with expectations for EBITDA margins to moderate to low 10s for the year.
Ladies and gentlemen, good day and welcome to the Piramal Pharma Limited Q2 FY26 earnings call. As a reminder, all participant clients will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes.
Should you need assistance during the conference call, please signal an operator by pressing, then 0 on your touchstone phone.
Please note that this conference is being recorded. I now hand the conference over to Mr. Gagan Borana from Piramal Pharma Limited.
Thank you and over to you, sir.
Thank you, Sonali.
Good morning, everyone. I welcome you all to our post results earnings conference call to discuss our Q2 FY26 results.
Our results material have been uploaded on our website, and you may like to download and refer them during our discussion.
Today's discussion may include some forward-looking statements, and these must be viewed in conjunction with the risks that a business faces.
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