MUMBAI, India, May 14, 2025 -- Piramal Pharma Limited (NSE: PPLPHARMA) (BSE: 543635), a leading global pharmaceuticals and wellness company, today announced its standalone and consolidated results for the Fourth Quarter (Q4) and Full Year (FY) ended 31st March 2025.
Consolidated Financial Highlights | ||||||
(in ₹ Crores or as stated) | ||||||
Particulars | Q4FY25 | Q4FY24 | YoY Growth | FY25 | FY24 | YoY Growth |
Revenue from Operations | 2,754 | 2,552 | 8 % | 9,151 | 8,171 | 12 % |
CDMO | 1,788 | 1,649 | 8 % | 5,447 | 4,750 | 15 % |
CHG | 705 | 667 | 6 % | 2,633 | 2,449 | 8 % |
ICH | 274 | 238 | 15 % | 1,093 | 985 | 11 % |
EBITDA | 603 | 556 | 8 % | 1,580 | 1,372 | 15 % |
EBITDA Margin | 22 % | 22 % | 17 % | 17 % | ||
PAT (before exceptional item) | 154 | 132 | 16 % | 91 | 81 | 13 % |
Exceptional Item* | - | (31) | NM | - | (63) | NM |
PAT (after exceptional item) | 154 | 101 | 52 % | 91 | 18 | 411 % |
* Q4FY24 - ₹ 31 Cr towards non-cash write down of investment and license rights in relation to a certain third-party product no longer being commercialized; | ||||||
Key Highlights for Q4FY25/FY25
- Revenue from Operations grew by 8% YoY and 12% YoY in Q4FY25 and FY25 respectively, driven primarily by CDMO business especially from on-patent commercial manufacturing
- EBITDA grew by 8% YoY and 15% YoY in Q4FY25 and FY25 respectively, on account of operating leverage, cost optimization, and operational excellence initiatives
- Net-Debt to EBITDA ratio improved to 2.7x Vs. 5.6x in FY23
- Best-in-Class Quality Track Record – Continue to maintain our 'Zero OAIs' status since 2011
- Sustainability Efforts Yielding Results – Significant enhancement in S&P Global and EcoVadis ESG scores
Nandini Piramal, Chairperson, Piramal Pharma Limited said, "FY25 has been a steady year for the company as we crossed $1Bn in revenues with 12% YoY growth accompanied by 17% EBITDA margin and 5x increase in Net Profits, in-line with our annual guidance. We also managed to maintain our Net Debt / EBITDA level below 3x, while making regular investments in capabilities and capacities for future growth. During the year, we progressed well on our key performance metrics such as growth in innovation related work and differentiated capabilities in the CDMO business, maintaining our leading position in inhalation anesthetic Sevoflurane in the US market, and healthy growth in our power brands in our consumer healthcare business.
We believe, we are on track to deliver on our FY2030 aspirations of becoming a $2bn revenue company with 25% EBITDA margins and high teens ROCE."
Key Business Highlights for Q4 and FY2025 |
Contract Development and Manufacturing Organization (CDMO): - Increasing contribution from Innovation1 related work - Up from 50% in FY24 to 54% in FY25, driven by commercial manufacturing of on-patent molecules - Robust growth in on-patent commercial manufacturing revenues - Grew by over 50% YoY to reach $179mn (Vs. $116mn in FY24 and $53mn in FY23) - Revenues from differentiated offerings grew 28% YoY, contributing to 49% of CDMO revenues - Healthy growth in API generics business - YoY improvement in EBITDA margin driven by better procurement strategies, cost optimization and operational excellence initiatives - Maintained our best-in-class quality track record - Successfully cleared 36 regulatory inspections and 165 customer audits in FY25 without any major observations
Complex Hospital Generics (CHG): - Inhalation Anesthesia (IA) - Major GPO contract renewal and order wins supporting IA sales in the US. Witnessing encouraging traction in the RoW markets - Capacity expansion in India completed and commercialized on time; poised to capitalize on ~US$400 mn2 Sevoflurane market opportunity in the RoW markets - Maintained our #1 Rank in the US in Sevoflurane (44% market share2) and in intrathecal Baclofen (75% market share2) - Received approval for Neoatricon®3 for multiple markets in EU and UK by our partner BrePco Pharma. Neoatricon® is the only pre-diluted, age-appropriate formulation of dopamine, approved for treating children and infants - Moderation in EBITDA margins due to some non-recurring expenses and capacity expansion in India. However, recovery expected from FY26 with commercialization of these added capacities
India Consumer Healthcare (ICH): - ICH business crossed the strategic revenue milestone of ₹ 1,000 crores during the year - Power Brands continue to grow strength to strength with 20% YoY during FY25. Power Brands contributed to 49% of total ICH sales o Excluding i-range, which was impacted by regulatory price control, growth in power brands was about 26% in FY25 - New Product Launches - Added 21 new products and 31 new SKUs in FY25 - Investments in Media and Promotions – 11% of ICH sales in FY25. Launched our new media campaign with Yami Gautam for Little's - E-commerce sales grew at 39% YoY in FY25, contributing 21% to ICH sales,. Present on more than 20 e-commerce platforms |
1. Discovery + Development + Commercial Manufacturing of products under patent; 2. As per IQVIA data, September 2024; 3. Neoatricon® is developed by BrePco Biopharma; |
Consolidated Profit and Loss Statement | ||||||
(in ₹ Crores or as stated) | ||||||
Particulars | Quarterly | Full Year | ||||
Q4FY25 | Q4FY24 | YoY Change | FY25 | FY24 | YoY Change | |
Revenue from Operations | 2,754 | 2,552 | 8 % | 9,151 | 8,171 | 12 % |
Other Income | 42 | 26 | 59 % | 135 | 175 | (23 %) |
Total Income | 2,796 | 2,579 | 8 % | 9,286 | 8,347 | 11 % |
Material Cost | 955 | 1,014 | (6 %) | 3,232 | 2,954 | 9 % |
Employee Expenses | 612 | 494 | 24 % | 2,307 | 2,030 | 14 % |
Other Expenses | 626 | 514 | 22 % | 2,167 | 1,991 | 9 % |
EBITDA | 603 | 556 | 8 % | 1,580 | 1,372 | 15 % |
Finance Cost | 104 | 114 | (9 %) | 422 | 448 | (6 %) |
Depreciation | 243 | 196 | 24 % | 816 | 741 | 10 % |
Share of net profit of associates | 16 | 12 | 35 % | 73 | 59 | 23 % |
Profit Before Tax | 273 | 258 | 6 % | 415 | 242 | 71 % |
Tax | 119 | 126 | (5 %) | 324 | 161 | 100 % |
Net Profit after Tax (before exceptional item) | 154 | 132 | 16 % | 91 | 81 | 13 % |
Exceptional item* | - | (31) | NM | - | (63) | NM |
Net Profit after Tax (after exceptional item) | 154 | 101 | 52 % | 91 | 18 | 411 % |
* Q4FY24 - ₹ 31 Cr towards non-cash write down of investment and license rights in relation to a certain third-party product no longer being commercialized; | ||||||
Consolidated Balance Sheet | ||
(In ₹ Crores) | ||
Key Balance Sheet Items | As at | |
31-Mar-25 | 31-Mar-24 | |
Total Equity | 8,125 | 7,911 |
Net Debt | 4,199 | 3,932 |
Total | 12,324 | 11,843 |
Net Fixed Assets | 9,110 | 9,106 |
Tangible Assets | 4,534 | 4,250 |
Intangible Assets including goodwill | 3,599 | 3,740 |
CWIP (including IAUD*) | 977 | 1,116 |
Net Working Capital | 2,798 | 2,339 |
Other Assets# | 416 | 398 |
Total Assets | 12,324 | 11,843 |
*IAUD – Intangible Assets Under Development # Other Assets include Investments and Deferred Tax Assets (Net)
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Q4FY25/FY25 Earnings Conference Call
Piramal Pharma Limited will be hosting a conference call for investors / analysts on 15th May 2025 from 9:30 AM to 10:15 AM (IST) to discuss its Q4 and FY25 Results.
The dial-in details for the call are as under:
Event | Location & Time | Telephone Number |
Conference call on | India – 09:30 AM IST | +91 22 6280 1461 / +91 22 7115 8320 (Primary Number) |
1 800 120 1221 (Toll free number) | ||
USA – 12:00 AM (Eastern Time – New York) | Toll free number 18667462133 | |
UK – 05:00 AM (London Time) | Toll free number 08081011573 | |
Singapore – 12:00 PM (Singapore Time) | Toll free number 8001012045 | |
Hong Kong – 12:00 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://clicktime.symantec.com/15tTDy8HiefVsfhet88NZ?h=fW3GbZrqogMd-yABQyRMy2isMM11wQD-TSFMQrYI2gs=&u=https://services.choruscall.in/DiamondPassRegistration/register?confirmationNumber%3D6099661%26linkSecurityString%3D26cd0b7825 Click Here | |
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.
* Includes one facility via PPL's minority investment in Yapan Bio.
For more information, visit: Piramal Pharma | LinkedIn
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