Piramal Pharma Limited Announces Results for Q3 and 9M FY25
MUMBAI, India, Jan. 29, 2025 /PRNewswire/ -- Piramal Pharma Limited (NSE: PPLPHARMA) (BSE: 543635), a leading global pharmaceuticals and wellness company, today announced its standalone and consolidated results for the Third Quarter (Q3) and Nine Months (9M) ended 31stDecember 2024.
Consolidated Financial Highlights | ||||||
(in ₹ Cr. or as stated) | ||||||
Particulars | Q3FY25 | Q3FY24 | YoY | 9MFY25 | 9MFY24 | YoY |
Revenue from Operations | 2,204 | 1,959 | 13 % | 6,397 | 5,619 | 14 % |
CDMO | 1,278 | 1,134 | 13 % | 3,659 | 3,101 | 18 % |
CHG | 654 | 576 | 14 % | 1,928 | 1,782 | 8 % |
ICH | 278 | 252 | 10 % | 819 | 747 | 10 % |
EBITDA | 350 | 330 | 6 % | 977 | 815 | 20 % |
EBITDA Margin | 16 % | 17 % | 15 % | 15 % | ||
Share of Net Profit of Associates | 17 | 14 | 22 % | 57 | 47 | 20 % |
Net Profit After Tax | 4 | 10 | (64) % | (62) | (83) | NM |
Key Highlights for Q3FY25/9MFY25
- Revenue from Operations grew by 14% YoY for 9MFY25, primarily driven by high-teen growth in the CDMO business
- EBITDA grew by 20% YoY for 9MFY25, supported by operating leverage, cost optimization initiatives and superior revenue mix
- Net-Debt to EBITDA ratio maintained at 2.8x
- Best-in-Class Quality Track Record - No pending observation at any of our US FDA inspected sites
- Significant Step Towards Sustainable Operations - Converted the coal-fired steam boiler at our Digwal facility to operate on biomass briquettes, a carbon-neutral fuel source. This will eliminate ~24,000 tCO2e1 GHG2 emissions annually accounting for about 17% of our total emissions
Nandini Piramal, Chairperson, Piramal Pharma Limited said, "FY25 so far has been a steady year for the Company with revenue growth of 14% and EBITDA growing at 20%. Our CDMO business continues to deliver robust performance with 18% revenue growth along with EBITDA margin improvement in 9MFY25. This performance was largely led by innovation related work. Our CHG business registered an early-teen revenue growth during the quarter on the back of strong volume growth in our Inhalation Anesthesia portfolio. In our ICH business, power brands continue to register about 19% growth.
The quarter also marked a significant milestone in our journey towards sustainable manufacturing with the conversion of coal-fired steam boiler at our Digwal facility to operate on biomass briquettes. This will significantly reduce our GHG emissions - underscoring our unwavering commitment towards the planet."
1. Tonnes of carbon dioxide equivalent; 2. Green House Gas
Key Business Highlights for Q3 and 9M FY25 |
- CDMO business delivered high-teen revenue growth for 9MFY25 driven by continued traction in the on-patent commercial manufacturing and generic API business - Timely capacity expansions and targeted BD1 efforts resulting in YoY growth in RFPs, however customer decision making is prolonged - Continued YoY improvement in EBITDA Margin driven by better revenue mix and initiatives towards better procurement strategies, cost optimization and operational excellence - Maintained our best-in-class quality track record with successful clearance of 365 regulatory inspections (including 45 US FDA inspections) and over 1,800 customer audits since FY2012 - Converted the coal-fired steam boiler at our Digwal facility to operate on biomass briquettes, a carbon-neutral fuel source. This is expected to eliminate ~24,000 tCO2e GHG emissions annually, accounting for about 17% of total emissions - Biotech Funding – CY2024 funding improved over CY2023, enough to replenish biotech cash burn but not enough to accelerate R&D spends Complex Hospital Generics (CHG): - Inhalation Anesthesia (IA) sales in the US tracking healthy volume growth driven by order wins for Sevoflurane and Isoflurane - Capacity expansion at Dahej and Digwal underway to capture IA opportunities in the RoW markets. Seeing month-on-month increase in production output India Consumer Healthcare (ICH): - ICH business delivered double-digit revenue growth in Q3 and 9MFY25 amidst tepid consumer demand in the industry - Power Brands grew at 19% YoY during 9MFY25, driven by robust performance in Little's, Polycrol and CIR. Power Brands contributed to 48% of total ICH sales - Excluding i-range, which was impacted by regulatory price control, growth in power brands was about 26% for 9MFY25 - Added 16 new products and 23 new SKUs in 9MFY25 - Launched our new media campaign with Mrunal Thakur for Lacto Calamine - E-commerce sales grew at over 40% YoY in Q3FY25 and contributed 20% to ICH sales. Present on more than 20 E-commerce platforms |
1. As per IQVIA data
Consolidated Profit and Loss Statement | ||||||
(in ₹ Cr. or as stated) | ||||||
Particulars | Quarterly | Nine Months | ||||
Q3FY25 | Q3FY24 | YoY Change | 9MFY25 | 9MFY24 | YoY Change | |
Revenue from Operations | 2,204 | 1,959 | 13 % | 6,397 | 5,619 | 14 % |
Other Income | 12 | 62 | (80) % | 93 | 149 | (38) % |
Total Income | 2,216 | 2,020 | 10 % | 6,490 | 5,768 | 13 % |
Material Cost | 806 | 675 | 19 % | 2,277 | 1,940 | 17 % |
Employee Expenses | 556 | 524 | 6 % | 1,695 | 1,535 | 10 % |
Other Expenses | 504 | 491 | 3 % | 1,541 | 1,478 | 4 % |
EBITDA | 350 | 330 | 6 % | 977 | 815 | 20 % |
Interest Expenses | 103 | 106 | (2) % | 318 | 334 | (5) % |
Depreciation | 197 | 186 | 6 % | 574 | 544 | 5 % |
Share of Net Profit of Associates | 17 | 14 | 22 % | 57 | 47 | 20 % |
Profit Before Tax | 67 | 52 | 29 % | 142 | (16) | NM |
Tax | 63 | 9 | 582 % | 204 | 35 | 479 % |
Net Profit after Tax | 4 | 42 | (91) % | (62) | (51) | NM |
Exceptional item | - | (32) | NM | - | (32) | NM |
Net Profit after Tax after Exceptional Item | 4 | 10 | (64) % | (62) | (83) | NM |
Q3FY25/9MFY25 Earnings Conference Call
Piramal Pharma Limited will be hosting a conference call for investors / analysts on 29thJanuary 2025 from 5:30 PM to 6:15 PM(IST)to discuss its Q3 and 9M FY25 Results.
The dial-in details for the call are as under:
Event | Location & Time | Telephone Number |
Conference call on | India – 05:30 PM IST | +91 22 6280 1461 / +91 22 7115 8320 (Primary |
1 800 120 1221 (Toll free number) | ||
USA – 07:00 AM (Eastern Time – New York) | Toll free number 18667462133 | |
UK – 12:00 PM (London Time) | Toll free number 08081011573 | |
Singapore – 08:00 PM (Singapore Time) | Toll free number 8001012045 | |
Hong Kong – 08:00 PM (Hong Kong Time) | Toll free number 800964448 | |
Express Join with | Please use this link for prior registration to reduce wait time at the time of joining | |
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.
For more information, visit: Piramal Pharma | LinkedIn
* Includes one facility via PPL's minority investment in Yapan Bio.
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