Piramal Pharma Limited Announces Consolidated Results for Q1FY25
MUMBAI, India, July 26, 2024 /PRNewswire/ -- Piramal Pharma Limited (NSE: PPLPHARMA) (BSE: 543635), a leading global pharmaceuticals company, today announced its standalone and consolidated results for the First Quarter (Q1) ended 30(th) June 2024.
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Consolidated Financial Highlights
(in
?
Cr. or as stated)
Particulars Q1FY25 Q1FY24 YoY Growth
Revenue from Operations 1,951 1,749 12 %
CDMO 1,057 898 18 %
Complex Hospital Generic (CHG) 631 617 2 %
India Consumer Healthcare (ICH) 264 239 10 %
EBITDA 224 171 31 %
EBITDA Margin 11 % 10 %
PAT (89) (99) NA
PAT Margin (5 %) (6 %) NA
Key Highlights for Q1FY25
-- Revenue from Operations grew by 12% YoY in Q1FY25, driven by robust
high-teen growth in the CDMO business and steady double-digit growth in
the ICH business
-- EBITDA grew by 31% YoY with EBITDA margin of 11%, a YoY improvement of
over 170bps vs. Q1FY24, driven by operating leverage, cost optimization
measures and superior revenue mix
-- Best-in-class quality track record - Successfully closed the USFDA
inspections at Lexington facility (US) with an EIR(# )and at PPDS
facility (Analytical Services, India) with zero observations
-- Piramal Pharma was honoured as one of the top Sustainable Organizations
at the 3(rd) edition of 'Times Now Global Sustainability Alliance
Sustainable Organizations 2024'
Nandini Piramal, Chairperson, Piramal Pharma Limited, said, "We have had a good start to the financial year with a steady all-round performance. We delivered a healthy revenue growth accompanied by over 170bps YoY expansion in EBIDTA margin driven by favorable revenue mix and cost optimization initiatives. Our CDMO business continues to witness sustained order inflows, especially for on-patent commercial manufacturing. We are also seeing good demand for our differentiated offerings with increase in customer enquiries and visits. In our CHG business, our planned expansion for inhalation anesthesia portfolio is on track and is expected to get commercialized in FY26. Our India Consumer Healthcare business is also delivering steady growth driven by power brands and strong traction in e-commerce channel.
"As a responsible organisation, we are taking good strides in our journey towards building sustainable operations. Our continuous efforts in quality and compliance bore fruits with successful closure of USFDA inspections at two of our facilities at Lexington (USA) and PPDS (Analytical Services, India).
"Historically our H2 outperforms H1, both in terms of revenue and profitability, and we expect this trend to continue in FY25. We intend to further build on to the good start that we have had to the financial year."
Key Business Highlights for Q1FY25
Contract Development and Manufacturing Organization (CDMO)
:
Seeing early signs of pick-up in biotech funding, with increase in customer enquiries and visits, especially for differentiated offerings. Need few more consistent quarters to establish recovery
Continue to witness steady order inflow momentum, particularly for on-patent
commercial manufacturing
YoY improvement in demand for our generic API business
Improved profitability led by healthy revenue growth, better business mix and cost optimization initiatives
Maintained our
quality track record with successful closure of the USFDA inspections at our Lexington facility with an EIR and PPDS facility with zero observations
Future investments geared towards customer's preference for integrated services, especially in differentiated areas of ADC, peptides, and
on-patent API development & manufacturing
Customer centric approach driving cross selling opportunities across global sites
Complex Hospital Generics (CHG):
Robust demand for Sevoflurane and Isoflurane in the USA and emerging markets like Asia, Europe and ROW, partly offset by lower pricing in Sevoflurane in the USA
Capacity expansion for inhalation anesthesia on track to meet the growing demand. Expected commercialization in FY26
Growth in Intrathecal portfolio led by new customer conversion. Continue to command leading market share in intrathecal Baclofen in the USA
Seeing positive traction in supplies from our third-party contract manufacturer for injectable pain
management. Focused efforts to further strengthen supply chain
Investing in portfolio expansion - Developing specialty products and signing in-licensing deals
Working on multiple cost optimization and productivity enhancement initiatives in
the areas of sourcing, manufacturing, distribution, and operational excellence
India Consumer Healthcare (ICH):
Added 7 new products and 10 new SKUs to our portfolio during Q1FY25
Continue to invest in media and trade spends to drive growth in Power Brands. Power Brand grew by 19% YoY in Q1FY25 and contribute to 48% of ICH sales
Included CIR (geriatrics care brand) to our list of Power Brands which
now consists of Little's, Lacto Calamine, Polycrol, Tetmosol, i-range and CIR
E-commerce grew by 37% YoY in Q1FY25
Looking to widen our reach across general trade and are also strengthening our presence in alternate channels of distribution including e-commerce and modern trade
Consolidated Profit and Loss Statement
(in
?
Cr. or as stated)
Reported Financials
Particulars Q1FY25 Q1FY24 YoY Change
Revenue from Operations 1,951 1,749 12 %
Other Income 20 38 (49) %
Total Income 1,971 1,787 10 %
Material Cost 674 627 8 %
Employee Expenses 580 496 17 %
Other Expenses 493 494 0 %
EBITDA 224 171 31 %
Finance Cost 107 119 (10) %
Depreciation 185 174 6 %
Share of Net Profit of Associates 22 14 56 %
Profit Before Tax (45) (107) NA
Tax 44 (9) NA
Net Profit after Tax (89) (99) NA
Exceptional Items 0 0 NA
Net Profit after Tax after Exceptional Items (89) (99) NA
Q1FY25 Earnings Conference Call
Piramal Pharma Limited will be hosting a conference call for investors / analysts on 26(th) July 2024 from 5:00 PM to 5:45 PM (IST) to discuss its Q1FY25 Results.
The dial-in details for the call are as under:
Event Location & Time
Telephone Number
Conference call on
India - 05:00 PM IST
+91 22 6280 1461 / +91 22 7115 8320 (Primary Number)
26th July, 2024
1 800 120 1221 (Toll free number)
USA - 07:30 AM
Toll free number
(Eastern Time - New York) 18667462133
UK - 12:30 PM
Toll free number
(London Time) 08081011573
Singapore - 07:30 PM
Toll free number
(Singapore Time) 8001012045
Hong Kong - 07:30 PM
Toll free number
(Hong Kong Time) 800964448
Express Join with Diamond Pass(TM) Please use this link for prior registration to reduce wait time at the time of joining the call -https://
services.choruscall.in/DiamondPassRegistration/
register?confirmationNumber=6099661&linkSecurityString=26cd0b7825
About Piramal Pharma Limited:
Piramal Pharma Limited (PPL, NSE: PPLPHARMA I BSE: 543635), offers a portfolio of differentiated products and services through its 17* global development and manufacturing facilities and a global distribution network in over 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated contract development and manufacturing organization; Piramal Critical Care (PCC), a complex hospital generics business; and the India Consumer Healthcare business, selling over-the-counter consumer and wellness products. In addition, one of PPL's associate companies, Abbvie Therapeutics India Private Limited, a joint venture between Abbvie and PPL, has emerged as one of the market leaders in the ophthalmology therapy area in the Indian pharma market. Further, PPL has a strategic minority investment in Yapan Bio Private Limited, that operates in the biologics / bio-therapeutics and vaccine segments. In October 2020, PPL received a 20% strategic growth investment from the Carlyle Group.
For more information, visit: Piramal Pharma | LinkedIn
( # EIR - Establishment Inspection Report
* Includes one facility via PPL's minority investment in Yapan Bio.)
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SOURCE Piramal Pharma Ltd
