Piramal Pharma Limited Announces Consolidated Results for Q1FY24
03 Aug 2023
Financial StatementExecutive Change
MUMBAI, India, Aug. 3, 2023 /PRNewswire/ -- Piramal Pharma Limited (NSE: PPLPHARMA | BSE: 543635), today announced its consolidated results for the first quarter (Q1) ended 30th June 2023.
Continue Reading
Preview
Source: PRNewswire
Nandini Piramal, Chairperson, Piramal Pharma Limited
# Q1 FY23 EBITDA had one-time inventory margin impact of INR 68 Crore
Key Highlights for Q1FY24
Revenue from Operation grew by 18% YoY in Q1FY24 driven by broad base performance across all three businesses – CDMO, CHG and ICH
EBITDA margin in Q1FY24 was 10%, a YoY improvement compared to 6% in Q1FY23, driven by healthy revenue growth and cost optimization measures
We maintain our quality track record of zero OAIs (Official Action Indicated) as we successfully closed the US FDA inspection at the Pithampur facility with zero observations
We strengthened our Management Team by appointing Jeffrey Hampton as President & Chief Operating Officer for Piramal Critical Care (CHG business)
We have shared the details of our Rights Issue - Rights Price of INR. 81, Record Date of August 2, 2023 and Entitlement Ratio of 5:46
Nandini Piramal, Chairperson, Piramal Pharma Limited said, "We had a positive start to the new financial year with healthy revenue growth and improvement in our EBITDA margins. Our CDMO business is also witnessing continued order inflows, especially for our differentiated offerings and innovation related work. Our Inhalation Anesthesia portfolio is seeing a healthy demand and our India Consumer Healthcare business is delivering good growth driven by power brands. We continue to maintain our best-in-class quality track record and are also taking multiple initiatives in the area of ESG to grow our business responsibly.
Historically our H2 has been better than H1, both in terms of revenue and profitability. We are working to leverage our good start to the financial year and continuing this momentum to deliver a healthy YoY performance for the rest of the year. We believe in the growth potential of our business and are accordingly executing on our strategic priorities to create shareholder value. Our promoter and promoter group have agreed to subscribe to the extent of 100% of the equity shares offered in our Rights Issue, thereby reaffirming their confidence in the underlying strengths of our business."
# Q1 FY23 EBITDA had one-time inventory margin impact of INR 68 Crore
Q1FY24 Earnings Conference Call
Piramal Pharma Limited will be hosting a conference call for investors / analysts on
4th August 2023 at 10:00 AM
(IST)
to discuss its Q1FY24 Results.
The dial-in details for the call are as under:
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 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 products. In addition, one of PPL's associate companies, Allergan India Private Limited is a JV with AbbVie Inc. and has emerged as one of the market leaders in the ophthalmology therapy area. Further, PPL has a minority investment in Yapan Bio Private Limited. In October 2020, PPL received a 20% strategic growth investment from the Carlyle Group.
For more information visit: www.piramaI.com/pharma I I inker1ln | Facebook I Twitter.
Photo: https://mma.prnewswire.com/media/2169456/Nandini_Piramal.jpg
Logo: https://mma.prnewswire.com/media/1855206/4196563/Piramal_Pharma_Limited_Logo.jpg
SOURCE Piramal Pharma Ltd
For more details,please visit the original website
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Indications
-Targets
-Drugs
-Hot reports
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Leverages most recent intelligence information, enabling fullest potential.