MUMBAI, India, Jan. 29, 2025 /PRNewswire/ -- Piramal Pharma Limited (NSE: PPLPHARMA) , a leading global pharmaceuticals and wellness company, today announced its standalone and consolidated results for the Third Quarter (Q3) and Nine Months (9M) ended 31(st) December 2024.
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Consolidated Financial Highlights (in ₹ Cr. or as stated) Particulars Q3FY25 Q3FY24 YoY 9MFY25 9MFY24 YoY Growth Growth 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
tCO2e(1) GHG(2) 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 Contract Development and Manufacturing Organization (CDMO) : - 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 BD(1) 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 - Maintain our #1 Rank in the US in Sevoflurane (40%+ market share(1)) and in Intrathecal Baclofen (70%+ market share(1)). Mitigo (intrathecal morphine sulphate) also delivered encouraging growth during the quarter - Maintaining EBITDA Margins - Cost optimization initiatives in the areas of sourcing, manufacturing, distribution, and operational excellence, showing results 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 29(th) January 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 29th January, 2025 Number) 1 800 120 1221 (Toll free number) USA - 07:00 AM Toll free number (Eastern Time - New York) 18667462133 UK - 12:00 PM Toll free number (London Time) 08081011573 Singapore - 08:00 PM Toll free number (Singapore Time) 8001012045 Hong Kong - 08:00 PM Toll free number (Hong Kong Time) 800964448 Express Join with Please use this link for prior registration to reduce wait time at the time of joining Diamond Pass(TM) the call - Click Here
About Piramal Pharma Limited:
Piramal Pharma Limited , 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 [https://www.piramalpharma.com/] | LinkedIn [https://in.linkedin.com/company/lifeatpiramalpharma]
(*) Includes one facility via PPL's minority investment in Yapan Bio.
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Photo: https://mma.prnewswire.com/media/1855206/4913155/Piramal_Pharma_Limited_Logo.jpg Piramal Pharma LtdCONTACT: For Investor Queries: Gagan Borana, Investor Relations &
Enterprise Risk Management, gagan.borana@piramal.com; For Media Queries:
Madiha Vahid, Lead - Media & PR, madiha.vahid@piramal.com; Madhusudan
Dalmia, Investor Relations, madhusudan.dalmia@piramal.com
