Mumbai, July 29 -- 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 duri...