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
30th June 2024.
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 3rd 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 26th 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
26th July, 2024
|
India – 05:00 PM
IST
|
+91 22 6280 1461 / +91
22 7115 8320 (Primary Number)
|
1 800 120 1221 (Toll
free number)
|
USA – 07:30
AM
(Eastern Time – New
York)
|
Toll free
number
18667462133
|
UK – 12:30
PM
(London
Time)
|
Toll free
number
08081011573
|
Singapore – 07:30
PM
(Singapore
Time)
|
Toll free
number
8001012045
|
Hong Kong – 07:30
PM
(Hong Kong
Time)
|
Toll free
number
800964448
|
Express Join with
Diamond Pass™
|
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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