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 | ₹274.0k Cr | 92.4× | 12.8% | 32.6% | 21.5% | 0.9× | 0.0× | 49.9% | |
| 2 | ₹126.3k Cr | 94.4× | 22.7% | 26.2% | 17.8% | 2.1× | 0.4× | 138.8% | |
| 3 | ₹52.2k Cr | 45.6× | 14.5% | 25.3% | 14.9% | 1.2× | 0.0× | 66.9% | |
| 4 | ₹51.4k Cr | 87.0× | 15.2% | 39.3% | 29.6% | 0.9× | 0.0× | 31.4% | |
| 5 | ₹37.8k Cr | 103.1× | 29.4% | 28.8% | 19.2% | 1.8× | 0.1× | 93.5% | |
| vs | 6Piramal Pharma | ₹31.8k Cr | — | -3.1% | 10.4% | 1.2% | — | 0.7× | 20.1% |
| 7 | ₹25.2k Cr | 50.8× | 37.0% | 28.7% | 26.6% | 1.0× | 0.2× | 12.3% | |
| 8 | ₹18.4k Cr | 64.8× | 19.9% | 28.3% | 11.4% | 1.7× | 0.3× | 155.6% | |
| 9 | ₹16.8k Cr | 63.3× | 2.6% | 24.6% | 10.0% | 2.4× | 0.1× | -32.8% | |
| 10 | ₹16.6k Cr | 154.2× | -13.0% | 18.8% | 5.8% | 1.4× | 0.1× | -40.1% | |
| 11 | ₹9.6k Cr | 73.3× | -8.0% | 31.0% | 26.5% | 0.9× | 0.0× | -1.4% |
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 pay6 Nov 2026 | ||
| Share price | ₹239.32 | ₹2,340.00 |
| Market cap | ₹31,810 Cr | ₹1,26,337 Cr |
| P/E | — | 94.41× |
| P/B | 3.90× | 23.84× |
| P/S | 3.59× | 18.54× |
| 12-month return | 20.1% | 138.8% |
| 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% | 17.8% |
| ROE | -4.0% | 16.8% |
| CFO / PAT (3y) | — | 2.05× |
| What it owesFY26 | ||
| Net debt | ₹4,451 Cr | ₹2,405 Cr |
| Debt / equity | 0.70× | 0.43× |
| 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% | 42.7% |
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 is a CDMO and a maker of generic medicines: it makes APIs, the active ingredients inside medicines, and develops and makes medicines to order for other drug companies. CDMO was 41% of Jul–Sep 2026 revenue and grew 75%; affordable medicines, largely HIV treatments, were the other 59%, with HIV sales flat on a year ago. Fifteen manufacturing sites and 8,126 people.
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.
It spent ₹864 crore on plants in Apr–Sep 2026 and plans more than ₹3,000 crore across FY27 and FY28. A commercial-scale peptide plant opened in the Jul–Sep quarter with over 16,000 litres of synthesis capacity, a large fermentation plant is due by Oct–Dec 2026, and a tablet plant with KRKA starts validation in mid-2027. It agreed to buy 60% of Galenvs in Canada for oligonucleotides, and plans to buy 52% of SI&C Resins for peptide materials. Fifty-four inspections passed by major regulators, and 92 drug master files filed.
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 — his son Krishna Chaitanya Chava runs the CDMO business and his daughter Soumya Chava affordable medicines. The promoter group owns 27.47%, unchanged in the Jul–Sep quarter, and a small parcel of about 0.6% of the company is pledged. In FY26 the founder was paid 491 times the median employee, up 89%, mostly bonus as results improved.
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 why it keeps adding new kinds of drugs — “We are investing because our customers are asking. It's not that we are investing, we are liking.”
Dr Satyanarayana Chava · Q2 FY27 earnings call
On customer concentration — “Currently, we don't have a significant concentration of customers or programs.”
Dr Satyanarayana Chava · Q2 FY27 earnings call
Closing prices to 6 Nov 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.