Piramal Pharma Limited Announces Results for Q3 and 9M FY25

Key Highlights for Q3FY25/9MFY25 Key Highlights for Q3FY25/9MFY25 Nandini Piramal, Chairperson, Piramal Pharma Limitedsaid, " 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...

Key Highlights for Q3FY25/9MFY25

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

-  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
-  Maintain our #1 Rank in the US in Sevoflurane (40%+ market share¹) and in Intrathecal Baclofen (70%+ market share¹). 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

 

Q3FY25/9MFY25 Earnings Conference Call

Piramal Pharma Limited will be hosting a conference call for investors / analysts on 29^thJanuary 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:

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.

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