Every listed Indian CDMO company covered here — Laurus Labs, Anthem, Blue Jet, Cohance, Divi's, Gland, Neuland, Sai Life, Shilpa, Syngene — against Piramal Pharma, on the same numbers from the same filings. Click a column to rank by it. Tick up to three and press Compare for the full side-by-side.
| Company | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | ₹248.3k Cr | 96.7× | 12.8% | 32.6% | 21.5% | 0.9× | 0.0× | 53.5% | |
| 2 | ₹108.3k Cr | 121.9× | 22.7% | 26.2% | 18.0% | 2.1× | 0.5× | 122.0% | |
| 3 | ₹50.1k Cr | 84.6× | 15.2% | 39.3% | 29.6% | 0.9× | 0.0× | 7.3% | |
| 4 | ₹48.1k Cr | 46.8× | 14.5% | 25.3% | 14.9% | 1.2× | 0.0× | 44.8% | |
| 5 | ₹33.9k Cr | 97.2× | 29.4% | 28.8% | 19.2% | 1.8× | 0.1× | 83.1% | |
| 6 | ₹28.9k Cr | 79.3× | 37.0% | 28.7% | 26.6% | 1.0× | 0.2× | 47.3% | |
| vs | 7Piramal Pharma | ₹27.9k Cr | n/m | -3.1% | 10.4% | 1.2% | n/m | 0.7× | 3.7% |
| 8 | ₹20.2k Cr | 83.0× | 19.9% | 28.3% | 11.4% | 1.7× | 0.3× | 152.5% | |
| 9 | ₹17.3k Cr | 96.6× | -13.0% | 18.8% | 5.8% | 1.4× | 0.1× | -49.8% | |
| 10 | ₹15.2k Cr | 48.0× | 2.6% | 24.6% | 8.7% | 2.4× | 0.1× | -42.4% | |
| 11 | ₹10.2k Cr | 41.1× | -8.0% | 31.0% | 26.5% | 0.9× | 0.0× | -12.2% |
Market cap, P/E and the 12-month return move with the market and are dated to the last close. Every other column is the last full financial year. n/m — loss-making, so the multiple means nothing. A dash means not recorded, which is not the same as nil.
| Metric | PPLPHARMA | LAURUSLABS |
|---|---|---|
| What you pay22 Sept 2026 | ||
| Share price | ₹210.12 | ₹2,006.50 |
| Market cap | ₹27,929 Cr | ₹1,08,331 Cr |
| P/E | -85.69× | 121.89× |
| P/B | 3.42× | 20.44× |
| P/S | 3.15× | 15.90× |
| 12-month return | 3.7% | 122.0% |
| SizeFY26 | ||
| Revenue | ₹8,869 Cr | ₹6,813 Cr |
| PAT | ₹-326 Cr | ₹889 Cr |
| Net worth | ₹8,163 Cr | ₹5,300 Cr |
| Gross block | ₹8,684 Cr | ₹4,371 Cr |
| GrowthFY26 | ||
| Revenue growth | -3.1% | 22.7% |
| Revenue CAGR (3y) | 7.8% | 4.1% |
| PAT CAGR (3y) | — | 4.0% |
| What it keepsFY26 | ||
| EBITDA margin | 10.4% | 26.2% |
| PAT margin | -3.7% | 13.0% |
| ROCE | 1.2% | 18.0% |
| ROE | -4.0% | 16.8% |
| CFO / PAT (3y) | -16.36× | 2.05× |
| What it owesFY26 | ||
| Net debt | ₹4,451 Cr | ₹2,405 Cr |
| Debt / equity | 0.70× | 0.48× |
| CWIP | ₹1,100 Cr | ₹773 Cr |
| Debtor days | 89 days | 115 days |
| Who owns itFY26 | ||
| Promoter holding | 34.8% | 27.5% |
| Institutional holding | 27.1% | 41.7% |
Every figure comes from the same filings the company pages are built from. A dash means the figure is not recorded, which is not the same as nil.
Piramal Pharma is three businesses under one name. Contract manufacturing is 55% of revenue, from fifteen sites in India, Britain and America; its own hospital drugs are 30%, where it is the largest American supplier of sevoflurane with 48% of that market; Indian consumer brands are 14%. Thirty-eight regulatory inspections last year, three by the American FDA, produced no adverse classification.
Laurus makes the active ingredients inside medicines, and increasingly makes the finished medicines for other companies too. Affordable medicines, largely HIV treatments, were 57% of June-quarter revenue; contract manufacturing was 43% and growing at 69%. Fifteen manufacturing sites, 8,126 people, more than 1,540 of them scientists.
Almost entirely built. The one purchase was a single brand — Kenalog, bought from Bristol Myers Squibb — which needed no factory and no sales force because it slots into a network already reaching 6,000 hospitals. Everything else is capital: $90 million committed to two American sites for sterile injectables and antibody-drug-conjugate work, and $120–135 million of capital spending guided for the year.
More than ₹4,700 crore has gone into plants over five years, over 85% of it into growth rather than upkeep, with new capacity at Vizag and a joint venture with KRKA at Hyderabad. Fifty-four inspections passed by the American, WHO, European and Japanese regulators, and 92 drug master files. What is being built next is antibody-drug conjugates through the Aarvik agreement, gene therapy, and 500 acres just handed over in Andhra Pradesh.
Nandini Piramal is executive chairperson and Peter DeYoung, also of the promoter group, runs the global pharma business, with Vivek Valsaraj as finance director — three of ten board seats against six independents. The promoter group holds 34.80%, none of it pledged. Two things sit uneasily: the auditors are a mid-tier firm for a group with twenty overseas subsidiaries, and pay to directors and key management rose 64% to ₹25.87 crore in a year the company lost ₹326 crore.
Founder Dr Satyanarayana Chava runs it, and since April 2024 two more of his family have held executive director seats — three of the five. The promoter group owns 27.47% across several vehicles, though the founder's own family holds about 23.3% of that, and a small parcel of 0.74% is given as loan security. Pay is the line worth watching: ₹74 crore between five executive directors and one relative, the founder's own up 65% to ₹38.12 crore.
Capital spending guided at $120–135 million for the year, against $21 million spent in the first quarter.
Q1 FY27
The East-West network: a molecule can be developed in Ahmedabad, made at scale in Michigan and filled into sterile vials in Kentucky.
FY26 annual report
On a big pharma client onboarded in the quarter — “significant opportunities ahead of us.”
Dr Satyanarayana Chava · Q1 FY27 earnings call
Asked directly about concentration: none of consequence by programme, customer or therapeutic area, and contract work is predominantly on-patent innovator molecules.
Q1 FY27 earnings call
Closing prices to 22 Sept 2026, adjusted for bonuses and splits. Dividends are not counted. This is what happened, not what will.
A sector, read end to end, and the companies as they are published. Roughly monthly. Nothing else, and one click to stop.