MUMBAI,
India, July 26, 2024 /CNW/ -- 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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SOURCE Piramal Pharma Ltd