Home » Piramal Pharma Limited announces consolidated results for Q1FY24

Piramal Pharma Limited announces consolidated results for Q1FY24

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Piramal Pharma Limited announces consolidated results for Q1FY24

MUMBAI, India, June 1, 2020 /PRNewswire/ — Piramal Pharma Limited (NSE: PPLPHARMA | BSE: 543635), today announced its consolidated results for the first quarter (Q1) ended June 30, 2023.

Consolidated financial figures
(In INR Crores)
Angaben Q1 Q1 YoY Watch Q4 QoQ Watch

FY24 FY23 FY23
Income from the 1.749 1.482 18% 2.164 -19%
Operation
CDMO 898 770 17 % 1,285 -30 %
Complex Hospital 617 508 22 % 702 -12 %
Generic (CHG)
India Consumer 239 211 13 % 206 16 %
Healthcare (ICH)
EBITDA 171 89# 92% 376 -55%

EBITDA Margin 10 % 6 % 17 %
PAT -99 -109 N / A 50 -297 %

PAT Margin -6 % -7 % 2 %

# Q1 FY23 EBITDA had one-time impact on inventory margin of INR 68 crore.

Key Highlights for Q1FY24

Revenue from operations grew 18% year-on-year in Q1FY24, driven by a broad-based performance across all three businesses – CDMO, CHG and ICH. EBITDA margin in Q1FY24 was 10%, a year-on-year improvement compared to 6% in Q1FY23, driven by healthy revenue growth and cost optimization measures. We maintain our quality record with zero OAIs (Official Action Indicated) having successfully completed the US FDA inspection at the Pithampur facility with no findings. We have strengthened our management team by appointing Jeffrey Hampton as President and Chief Operating Officer for Piramal Critical Care (CHG business). We have announced the details of our rights issue: INR Rights Price. 81, record date August 2, 2023 and entitlement ratio 5:46.

Nandini Piramal, Chairman of Piramal Pharma Dream said: “We had a positive start to the new financial year with healthy revenue growth and an improvement in our EBITDA margins. Our CDMO business continues to see orders coming in, particularly for our differentiated offerings and innovation-related work. Our inhalation anesthesia portfolio is experiencing healthy demand. Our India Consumer Healthcare business is delivering good growth driven by power brands. We continue to maintain our best-in-class quality record and are also taking several ESG initiatives to responsibly grow our business. In the past, our H2 has been better than H1 in terms of both sales and profitability. We are working to capitalize on our good start to the fiscal year and continue this momentum to deliver a healthy year-on-year performance for the remainder of the year. We believe in the growth potential of our company and accordingly execute our strategic priorities to create value for our shareholders. Our promoters and promoter groups have agreed to subscribe to the extent of 100% of the equity interest offered in our rights offering, reaffirming their confidence in the underlying strengths of our business.”

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Key business highlights for the Q1FY24:

Contract Development and Manufacturing Organization (CDMO):
– Sustained order intake and strong execution in Q1FY24 Continued good demand for our differentiated offering in the niche areas of high potency APIs, peptides, antibody drug conjugates (ADCs), and patent API development and manufacturing. – Recently expanded capacity at locations with differentiated offerings to accommodate the
stimulate customer demand. – Antibody Drug Conjugate (ADC) capacity expansion at Grangemouth facility
Strengthening our position in the ADC market.
– YoY demand improvement for our generic API business. – Our Quality Assurance remains on track – During the first quarter of fiscal year 2024 (Q1FY24) we successfully completed 8 regulatory inspections (including a US FDA inspection in
our plant in Pithampur) as well as several customer tests. – Cost optimization, strategy of sourcing and operational excellence initiatives to
Alleviate inflationary pressures and improve profitability.

Complex Hospital Generics (CHG):
– The positive trend in sales of inhalational anesthetics (IA) continued, mainly
driven by strong demand for sevoflurane. – Expansion of inhalation anesthesia capacity to meet growing demand. – The US intrathecal portfolio continues to maintain a leading market share. – Building a portfolio of +27 new products that are in different stages of development
represent. Launch of 1 new product in Q1FY24 – Jeffrey Hampton appointed President & Chief Operating Officer of CHG Business. Jeff has
previously worked with Accord Healthcare, Inc. and Apotex Inc.

India Consumer Healthcare (ICH):

– 11 new products and 3 new SKUs launched in Q1FY24 – Further investments will be made in media and retail to support the growth of
to promote key brands. – Power brands: Littles, Lacto Calamine, Polycrol, Tetmosol and I-range, grew 15% YoY in Q1FY24 and contribute to sales of 43% of ICH sales.
– E-commerce grew more than 18% YoY in Q1FY24. – There is a wide reach in general commerce, as does our presence in alternative distribution channels including e-commerce, modern commerce and our own
Direct-to-customer website, Wellify.in, strengthens.

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Consolidated Profit and Loss Account
(In INR Crores)

Reported Financial Data
Figures Q1FY24 Q1FY23 Changes on Q4FY22 Changes on the previous year previous quarter
Income from operations 1,749 1,482 18% 2,164 -19%
Other income 38 72 -47% 25 56%
Total income 1.787 1.554 15% 2.188 -18%
Material costs 627 574 9% 840 -25%
Personnel expenses 496 461 8% 474 5%
Other expenses 494 430 15% 499 -1%
EBITDA 171 89# 92% 376 -55%
Financing costs 119 62 90% 104 14%
Depreciation 174 162 7% 184 -6%
Share in the result of 14 20 -28% 8 85%
associated companies
Profit before tax -107 -115 -7% 95 -213%
Taxes -9 -6 NA 45 -119%
Net profit after tax -99 -109 N / A 50 -297%

Special item 0 0 0
Net profit after tax after -99 -109 N / A 50 -297%
special item

# Q1 FY23 EBITDA had one-time impact on inventory margin of INR 68 crore

Q1FY24 Earnings Conference Call

Piramal Pharma Limited will hold an investor/analyst conference call on August 4, 2023 at 10:00 am IST to discuss its Q1FY24 results.

The dial-in details for the call are as follows:

Event location and time phone number
Conference Call India – 10:00am (IST) +91 22 6280 1461 / +91 22 7115 8320
nz am (direct number)

4. August 2023

1 800 120 1221
(free of charge
Number)

USA – 12:30 toll-free number
Clock
18667462133
(Eastern Time
– New York)

UNITED Toll-free number
KINGDOM –
5:30am 08081011573

(London
local time)

Singapore – Toll-free number
12:30 pm
8001012045
(Singapore location
time)

Hong Kong – Toll-free number
12:30 pm
800964448
(Hong
Kong local time)
Select the Please use this link for pre-registration to shorten the waiting time for express participation at the time of participation – hme mit dem gistration/register?confirmationNumber=9503078&linkSecurityString=33aa158d84 (https Diamond Pass™ ://clicktime.symantec.com/15tT4GjxmEhECEVGEkzno?h=FyraOXJiyZoP2HmL8HIjzoz6xFG9wsBTH 0LymzV70kI=&u=gistration/register?confi
rmationNumber%3D9503078%26linkSecurityString%3D33aa158d84)

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About Piramal Pharma Ltd:

Piramal Pharma Limited (NSE: PPLPHARMA) (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 comprises Piramal Pharma Solutions (PPS), an integrated contract development and manufacturing company, and Piramal Critical Care (PCC), a complex generics business for hospitals, and the India Consumer Healthcare business, a company that sells over-the-counter products. In addition, one of PPL’s ​​affiliates, Allergan India Private Limited, is a JV with AbbVie Inc. and has established itself as a leader in the field of ophthalmic therapies. In addition, PPL holds a minority stake in Yapan Bio Private Limited. In October 2020, PPL received a 20% strategic growth investment from Carlyle Group.

For more information please go to: www.piramaI.com/pharma I I inker1In I Facebook I Twitter.

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Questions & contact:

Rajiv Banerjee,
Corporate Communications,
Piramal Enterprises Ltd. [email protected] (+919920454102) I For investors: Gagan Borana General Manager – Investor Relations & Sustainability,
[email protected]

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