Piramal Pharma delivered in-line sales/Ebitda in Q4 FY25, but earnings were below the estimate due to impairment of certain intangible assets.Piramal Pharma maintained its guidance of $1.2 billion revenue with a 25% Ebitda margin in the CDMO segment by FY30.Motilal Oswal maintains 'Buy' rating on Piramal Pharma but cuts target price.