Piramal Pharma Limited Announces Results for Q2 and H1 FY25

Consolidated Financial Highlights

(in ₹ Cr. or as stated)

Particulars

Q2FY25

Q2FY24

YoY
Growth

H1FY25

H1FY24

YoY
Growth

Revenue from Operations

2,242

1,911

17 %

4,193

3,660

15 %

   CDMO

1,324

1,068

24 %

2,381

1,967

21 %

   CHG

643

589

9 %

1,274

1,206

6 %

   ICH

277

256

8 %

541

495

9 %

EBITDA

403

315

28 %

627

485

29 %

EBITDA Margin

18 %

16 %

–

15 %

13 %

–

Share of Net Profit of Associates

17

19

(10) %

40

33

18 %

PAT

23

5

350 %

(66)

(94)

NM

PAT Margin

1 %

0 %

–

(2) %

(3) %

–

Key Business Highlights for Q2 and H1 FY25

     Contract Development and Manufacturing Organization (CDMO):

–  Market outlook – Biotech funding improved over previous years but remains uneven across months. Regulatory changes and supply chain diversification driving increase in customer enquiries and visits, but decision making by customers remains delayed

–  Targeted Business Development efforts resulting in steady inflow of new orders

–  YoY improvement in demand in our generic API business

–  Operating leverage and cost optimization initiatives yielding continued YoY improvement in EBITDA margins

–  Maintained our quality track record with receipt of EIR for our PPDS facility (India) with Zero Form – 483 observations and NAI designation

–  Customer led US$80Mn expansion planed in Lexington to more than double our capacity to capture rising demand for Sterile Fill-Finish capabilities

 

     Complex Hospital Generics (CHG):

–  Good volume growth in inhalation anesthesia portfolio in the US and emerging markets

–  Capacity expansion at Dahej and Digwal underway to capture growth opportunity in the RoW markets

–  Investing in portfolio expansion – Building portfolio of Differentiated and Specialty products to drive long term profitable growth

–  Working on multiple cost optimization and productivity enhancement initiatives in the areas of sourcing, manufacturing, distribution, and operational excellence to maintain our healthy  EBITDA margin in this business

 

     India Consumer Healthcare (ICH):

–  Added 9 new products and 13 new SKUs to our portfolio during H1FY25

–  Continue to invest in media and trade spends to drive growth in Power Brands. Power Brands grew by 18% YoY in Q2 and H1 FY25 and contributed to 48% of ICH sales

–  Growth in i-range adversely impacted due to regulator mandated price reductions

–  E-commerce grew by over 30% YoY in Q2 and H1 FY25. Focus on improving the profitability of this channel through pricing, mix and investment optimization

–  Plan to widen our reach – Transition from a Pharmacy-dominant to an Omni-channel consumer healthcare company. Establish winning NPDs from online channel to offline, with general trade and modern trade ready SKUs

 

Consolidated Profit and Loss Statement

(in ₹ Cr. or as stated)

Particulars

Quarterly

Half Yearly

Q2FY25

Q2FY24

YoY 
Change

Q1FY25

QoQ  Change

H1FY25

H1FY24

YoY 
Change

Revenue from Operations

2,242

1,911

17 %

1,951

15 %

4,193

3,660

15 %

Other Income

61

49

24 %

20

213 %

81

88

(8) %

Total Income

2,303

1,961

17 %

1,971

17 %

4,274

3,748

14 %

Material Cost

796

638

25 %

674

18 %

1,471

1,264

16 %

Employee Expenses

560

516

8 %

580

(3) %

1,139

1,012

13 %

Other Expenses

544

492

11 %

493

10 %

1,037

986

5 %

EBITDA

403

315

28 %

224

80 %

627

485

29 %

Interest Expenses

108

110

(2) %

107

1 %

215

228

(6) %

Depreciation

192

185

4 %

185

4 %

377

358

5 %

Share of Net Profit of Associates

17

19

(10) %

22

(23) %

40

33

18 %

Profit Before Tax

120

40

204 %

(45)

NM

75

(68)

NM

Tax

98

35

182 %

44

124 %

141

26

442 %

Net Profit after Tax

23

5

350 %

(89)

NM

(66)

(94)

NM

Exceptional item

–

–

–

–

–

–

–

–

Net Profit after Tax after Exceptional Item

23

5

350 %

(89)

NM

(66)

(94)

NM

Consolidated Balance Sheet

(in ₹ Cr. or as stated)

   Key Balance Sheet Items

As at

30-Sep-24

31-Mar-24

Total Equity

7,907

7,911

Net Debt

4,235

3,932

Total

12,143

11,843

 
 
 

Net Fixed Assets

9,096

9,106

    Tangible Assets

4,298

4,250

    Intangible Assets including goodwill

3,669

3,740

    CWIP (including IAUD*)

1,130

1,116

Net Working Capital

2,651

2,339

Other Assets#

396

398

Total Assets

12,143

11,843

*IAUD – Intangible Assets Under Development; # Other Assets include Investments and Deferred Tax Assets (Net)

Event

Location & Time

Telephone Number

Conference call on
24th October, 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

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