Piramal Pharma has achieved a significant regulatory milestone for its bioconjugates manufacturing facility in Grangemouth, UK. The facility has received updated Good Manufacturing Practice (GMP) certificates from the UK's Medicines and Healthcare products Regulatory Agency (MHRA), reinforcing its compliance with current manufacturing standards.

Key Highlights

• Facility Location: Grangemouth, UK
• Regulatory Body: UK's Medicines and Healthcare products Regulatory Agency (MHRA)
• Certification: Updated Good Manufacturing Practice (GMP) certificates
• Significance: Ensures compliance with current manufacturing standards

Impact on Operations

The updated GMP certification is crucial for Piramal Pharma as it:

1. Supports the company's pharmaceutical operations
2. Ensures compliance with regulatory requirements
3. Validates the facility's adherence to high-quality manufacturing practices

This regulatory approval underscores Piramal Pharma's commitment to maintaining stringent quality standards in its bioconjugates manufacturing processes. The certification may potentially enhance the company's position in the pharmaceutical industry, particularly in the specialized field of bioconjugates.

For stakeholders and partners, this update provides assurance of Piramal Pharma's continued dedication to quality and regulatory compliance in its UK operations.

Piramal Pharma Limited announced its financial results for the second quarter of fiscal year 2026, revealing a significant impact from inventory destocking by a key customer.

Financial Highlights

• Revenue: Consolidated revenue from operations declined 21% year-over-year to ₹2,044.00 crores in Q2FY26.
• EBITDA: Margins stood at 11% for the quarter, down from 18% in Q2FY25.
• Net Debt: Reduced by ₹228.00 crores to ₹3,971.00 crores compared to FY25, maintaining a net debt to EBITDA ratio below 3x.

Segment Performance

Key Business Highlights

CDMO (Contract Development and Manufacturing Organization)

• Revenue decline primarily attributed to inventory destocking in one large on-patent commercial product.
• Inconsistent recovery in US biopharma funding and global trade policy uncertainties affected order inflows.
• Seeing early signs of improvement with funding uptick in September and October 2025.

Complex Hospital Generics

• Maintained leadership in the US Sevoflurane market with a 45% value market share.
• Working on obtaining regulatory approvals for Sevoflurane in ex-US markets from the India plant.

India Consumer Healthcare

• Delivered healthy mid-teen growth.
• Power brands grew 20% YoY, contributing 51% to total consumer healthcare sales.
• E-commerce sales grew over 40% YoY, contributing about 24% to consumer healthcare sales.

Management Commentary

Nandini Piramal, Chairperson of Piramal Pharma Limited, stated, "YoY growth in the CDMO Business was primarily impacted by inventory destocking in one large on-patent commercial product. Inconsistent recovery in US biopharma funding along with uncertainties on global trade policies led to adverse impact on order inflows and customer decision making during H1FY26. However, in the months of September and October 2025, we have seen a significant pick up in biopharma funding, which if sustains, should lend impetus to increased RFPs and orders going forward."

Outlook

The company expects better revenue and EBITDA performance going forward, driven by:

• Significant uptick in biopharma funding observed in September and October 2025.
• Increasing RFPs/RFIs for onshore manufacturing facilities and differentiated capabilities.
• Good inflow of commercial orders.
• Enhancement in Business Development team to adapt to market dynamics.

Piramal Pharma continues to focus on cost optimization and operational excellence to partially offset the impact on EBITDA. The company maintains a positive outlook, particularly noting strong customer interest for its US sites and onshore offerings.