Integrated Filing — IndAS



General information about company

Scrip Code 543635
NSE Symbol PPLPHARMA
MSEI Symbol NOTLISTED
ISIN INE0DK501011
Name of company PIRAMAL PHARMA LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2026
Date of end of financial year 31-03-2027
Date of board meeting when results were approved 27-10-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 16-10-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Single segment
Description of single segment Pharmaceuticals
Start date and time of board meeting 27-10-2026   17:30:00
End date and time of board meeting 27-10-2026   20:30:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2026 01-04-2026
B Date of end of reporting period 30-09-2026 30-09-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 2,61,706.00 4,88,698.00
Other income 3,593.00 12,534.00
Total income 2,65,299.00 5,01,232.00
2 Expenses
(a) Cost of materials consumed 64,582.00 1,37,059.00
(b) Purchases of stock-in-trade 33,537.00 75,561.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (7,501.00) (36,775.00)
(d) Employee benefit expense 71,432.00 1,38,995.00
(e) Finance costs 8,763.00 17,570.00
(f) Depreciation, depletion and amortisation expense 23,315.00 45,670.00
(f) Other Expenses
1 Other Expenses (Net) 64,782.00 1,19,464.00
Total other expenses 64,782.00 1,19,464.00
Total expenses 2,58,910.00 4,97,544.00
3 Total profit before exceptional items and tax 6,389.00 3,688.00
4 Exceptional items 0.00 0.00
5 Total profit before tax 6,389.00 3,688.00
6 Tax expense
7 Current tax 7,220.00 13,755.00
8 Deferred tax 440.00 98.00
9 Total tax expenses 7,660.00 13,853.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations (1,271.00) (10,165.00)
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 1,774.00 3,730.00
16 Total profit (loss) for period 503.00 (6,435.00)
17 Other comprehensive income net of taxes 4,379.00 1,324.00
18 Total Comprehensive Income for the period 4,882.00 (5,111.00)
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 558.00 (6,380.00)
Total profit or loss, attributable to non-controlling interests (55.00) (55.00)
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 4,937.00 (5,056.00)
Total comprehensive income for the period attributable to owners of parent non-controlling interests (55.00) (55.00)
21 Details of equity share capital
Paid-up equity share capital 1,32,839.00 1,32,839.00
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 0.04 -0.48
Diluted earnings (loss) per share from continuing operations 0.04 -0.48
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 0.04 -0.48
Diluted earnings (loss) per share from continuing and discontinued operations 0.04 -0.48
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) Notes: 1.The unaudited consolidated financial results of the Group for the three months and six months ended September 30, 2026 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held on October 27, 2026. The Statutory auditors of the Company have carried out a limited review of these results. 2.The unaudited consolidated financial results of the Group for the three months and six ended September 30, 2026 has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards as prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. 3.There were no exceptional items during the quarter and six months ended 30 September 2026. Exceptional items for the quarter and year ended 31 March 2026 aggregating Rs.196.14 crore (including foreign exchnage impacts for overseas subsidiaries) comprised mainly -: (i) impairment of an intangible asset under development of Rs.175.82 crore and (ii) incremental employee benefit cost of Rs.26.94 crore arising from the Company's assessment of the impact of the Labour Codes. iii) One time settlement fees paid in quarter ended December 2025 for Rs. 14.81 crore iv) Recovery from insolvency proceedings of a vendor Rs. 21.43 crore in quarter ended June 30, 2025 4.The group operates in only one segment and hence segment disclosure is not applicable. 5.During the quarter , the Company (Piramal Pharma Limited, PPL), completed the acquisition of an incremental 40.67% stake in Yapan Bio Private Limited (“Yapan Bio”), a Hyderabad-based CDMO specializing in vaccines and biologics for an aggregate cash consideration of Rs.76.09 crore. As a result of this transaction, PPL now owns 74% of Yapan Bio’s equity, making Yapan Bio a subsidiary of PPL. For the current quarter, as per the requirements of IND AS 103, the Group has availed the ‘measurement period’ exemption and calculated provisional goodwill, non-controlling interest, asset / liability values of Yapan Bio and remeasurement of PPL’s previously held 33.33% equity interest. These are subject to the final fair valuation report and purchase price allocation. The Group expects the final calculation to be completed by year end.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2026
Date of end of reporting period 30-09-2026
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 4,49,614.00
Capital work-in-progress 96,588.00
Investment property 0.00
Goodwill 1,40,528.00
Other intangible assets 2,84,830.00
Intangible assets under development 30,551.00
Biological assets other than bearer plants
Investments accounted for using equity method 10,955.00
Non-current financial assets
Non-current investments 6,267.00
Trade receivables, non-current 0.00
Loans, non-current 0.00
Other non-current financial assets
1 Others 5,196.00
Total of other non-current financial assets 5,196.00
Total non-current financial assets 11,463.00
Deferred tax assets (net) 49,397.00
Other non-current assets
1 Others 54,430.00
Total of other non-current assets 54,430.00
Total non-current assets 11,28,356.00
2 Current assets
Inventories 3,29,482.00
Current financial asset
Current investments 26,144.00
Trade receivables, current 2,25,371.00
Cash and cash equivalents 54,502.00
Bank balance other than cash and cash equivalents 2,356.00
Loans, current 0.00
Other current financial assets
Total of other current financial assets 6,010.00
Total current financial assets 3,14,383.00
Current tax assets (net)
Other current assets
1 Others 81,500.00
Total of other current assets 81,500.00
Total current assets 7,25,365.00
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 18,53,721.00
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1,32,839.00
Other equity 6,81,385.00
Total equity attributable to owners of parent 8,14,224.00
Non controlling interest 2,247.00
Total equity 8,16,471.00
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 4,45,356.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities
1 Others 16,003.00
Total of other non-current financial liabilities 16,003.00
Total non-current financial liabilities 4,61,359.00
Provisions, non-current 11,696.00
Deferred tax liabilities (net) 35,112.00
Deferred government grants, Non-current 0.00
Other non-current liabilities
1 Others 13,232.00
Total of other non-current liabilities 13,232.00
Total non-current liabilities 5,21,399.00
Current liabilities
Current financial liabilities
Borrowings, current 1,21,172.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 5,065.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 2,68,418.00
Total Trade payable 2,73,483.00
Other current financial liabilities
1 Others 43,014.00
Total of other current financial liabilities 43,014.00
Total current financial liabilities 4,37,669.00
Other current liabilities 72,542.00
1 Others 72,542.00
Total of other current liabilities 72,542.00
Provisions, current 4,897.00
Current tax liabilities (Net) 743.00
Deferred government grants, Current 0.00
Total current liabilities 5,15,851.00
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 10,37,250.00
Total equity and liabilites 18,53,721.00
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2026 01-04-2026
Date of end of reporting period 30-09-2026 30-09-2026
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2026 01-04-2026
B Date of end of reporting period 30-09-2026 30-09-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurement of Post Employment Benefit Plans (441.00) (1,418.00)
Total Amount of items that will not be reclassified to profit and loss (441.00) (1,418.00)
2 Income tax relating to items that will not be reclassified to profit or loss (111.00) (357.00)
3 Amount of items that will be reclassified to profit and loss
1 Deferred gains / (losses) on cash flow hedge 186.00 494.00
2 Exchange differences on translation of foreign operations 5,063.00 2,444.00
Total Amount of items that will be reclassified to profit and loss 5,249.00 2,938.00
4 Income tax relating to items that will be reclassified to profit or loss 540.00 553.00
5 Total Other comprehensive income 4,379.00 1,324.00



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2026
B Date of end of reporting period 30-09-2026
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 3,688.00
Adjustments for reconcile profit (loss)
Adjustments for finance costs 17,570.00
Adjustments for decrease (increase) in inventories (26,765.00)
Adjustments for decrease (increase) in trade receivables, current (4,429.00)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets (26,371.00)
Adjustments for decrease (increase) in other non-current assets 170.00
Adjustments for other financial assets, non-current (1,163.00)
Adjustments for other financial assets, current (944.00)
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current 27,669.00
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 15,559.00
Adjustments for increase (decrease) in other non-current liabilities (1,479.00)
Adjustments for depreciation and amortisation expense 45,670.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 676.00
Adjustments for provisions, non-current 835.00
Adjustments for other financial liabilities, current (1,190.00)
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 4,840.00
Adjustments for dividend income 0.00
Adjustments for interest income 371.00
Adjustments for share-based payments 2,565.00
Adjustments for fair value losses (gains) (376.00)
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items (6,411.00)
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 46,055.00
Net cash flows from (used in) operations 49,743.00
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 10,652.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 39,091.00
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 7,428.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 592.00
Purchase of property, plant and equipment 85,869.00
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 2,822.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 4,181.00
Interest received 328.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (11,673.00)
Net cash flows from (used in) investing activities (97,047.00)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 122.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 36,848.00
Repayments of borrowings 28,351.00
Payments of lease liabilities 4,536.00
Dividends paid 0.00
Interest paid 17,216.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities (13,133.00)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (71,089.00)
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 2,479.00
Net increase (decrease) in cash and cash equivalents (68,610.00)
Cash and cash equivalents cash flow statement at beginning of period 97,626.00
Cash and cash equivalents cash flow statement at end of period 29,016.00