Bro, latest report ke hisaab se Motilal Oswal ne Piramal Pharma par apni nazar daali hai aur bola hai ki 'Buy karo' bhai, target ₹190 ka hai. Ye sab isliye bol rahe hain kyunki company ne Q3 FY26 mein revenue aur EBITDA thoda miss kar diya, aur net loss bhi ₹136 Crore ka raha, jo last year ke ₹4 Crore profit se kaafi alag hai. Revenue bhi 3% gir kar ₹2,139.8 Crore ho gaya.
CDMO segment, jo ki growth ka main engine hai, uski revenue 9% kam hui. Lekin tension nahi! Management ne saal bhar ka guidance maintain kiya hai, matlab unko Q4 se recovery ki full umeed hai. Aur toh aur, US mein pharma funding bhi theek ho rahi hai, jisse order book mein sudhaar dikh raha hai.
Motilal Oswal ne company ko Sum-of-the-Parts (SoTP) basis par value kiya hai, jisme CDMO ko 18x EV/EBITDA, Complex Hospital Generics (CHG) ko 11x, aur consumer health (ICH) ko 13x multiples diye hain. Abhi stock ka price around ₹151.89 se ₹155.2 ke beech mein chal raha hai (Feb 2, 2026 ke aas paas). Pichhle ek saal mein stock 34% gir gaya hai, aur ₹148.31 se ₹240.95 ki range mein hai. Toh agar company plan follow karti hai, toh bada upside dikh raha hai.
CDMO sector mein bhi recovery ke signs hain. Piramal Pharma ko October 2025 ke baad se RFPs aur orders mein badhotari dikhi hai. Consumer health division toh mast 20% growth dikha raha hai! Govt bhi 'Biopharma Shakti' program se Indian pharma ko support kar rahi hai, jisme ₹10,000 Crore ka allocation hai. CDMO market agle 5 saal mein double hone ka estimate hai.
Piramal Pharma, jiska market cap lagbhag ₹20,629 Crore hai, India mein top CDMO players mein se hai. Haan, Sun Pharma jaise bade players se compare karein toh chhota hai, aur iska P/E ratio negative -796.89 hai, par brokerage ko long-term value dikh rahi hai. Management ko FY26 mein mid-single-digit revenue growth aur EBITDA margins high-teens mein hone ki ummeed hai. Ye saare efforts, jaise ki $35 million mein Kenalog ka acquisition, dikha rahe hain ki company growth ke liye ready hai. Agar sab plan ke hisaab se chala, toh ₹190 ka target achievable lagta hai.