MUMBAI, India, Jan. 29, 2025 -- 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 31st December 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 29th 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 |
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.
This News is brought to you by Qube Mark, your trusted source for the latest updates and insights in marketing technology. Stay tuned for more groundbreaking innovations in the world of technology.
