Piramal Pharma Limited Announces Results for Q3 and 9M FY25

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Consolidated Financial Highlights

(in ₹ Cr. or as stated)

Particulars

Q3FY25

Q3FY24

YoY
Growth

9MFY25

9MFY24

YoY
Growth

Revenue from Operations

2,204

1,959

13 %

6,397

5,619

14 %

   CDMO

1,278

1,134

13 %

3,659

3,101

18 %

   CHG

654

576

14 %

1,928

1,782

8 %

   ICH

278

252

10 %

819

747

10 %

EBITDA

350

330

6 %

977

815

20 %

EBITDA Margin

16 %

17 %

15 %

15 %

Share of Net Profit of Associates

17

14

22 %

57

47

20 %

Net Profit After Tax

4

10

(64) %

(62)

(83)

NM

Key Business Highlights for Q3 and 9M FY25

Contract Development and Manufacturing Organization (CDMO):

-  CDMO business delivered high-teen revenue growth for 9MFY25 driven by continued traction in the on-patent commercial manufacturing and generic API business

-  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

Consolidated Profit and Loss Statement

(in ₹ Cr. or as stated)

Particulars

Quarterly

Nine Months

Q3FY25

Q3FY24

YoY  Change

9MFY25

9MFY24

YoY  Change

Revenue from Operations

2,204

1,959

13 %

6,397

5,619

14 %

Other Income

12

62

(80) %

93

149

(38) %

Total Income

2,216

2,020

10 %

6,490

5,768

13 %

Material Cost

806

675

19 %

2,277

1,940

17 %

Employee Expenses

556

524

6 %

1,695

1,535

10 %

Other Expenses

504

491

3 %

1,541

1,478

4 %

EBITDA

350

330

6 %

977

815

20 %

Interest Expenses

103

106

(2) %

318

334

(5) %

Depreciation

197

186

6 %

574

544

5 %

Share of Net Profit of Associates

17

14

22 %

57

47

20 %

Profit Before Tax

67

52

29 %

142

(16)

NM

Tax

63

9

582 %

204

35

479 %

Net Profit after Tax

4

42

(91) %

(62)

(51)

NM

Exceptional item

-

(32)

NM

-

(32)

NM

Net Profit after Tax after Exceptional Item

4

10

(64) %

(62)

(83)

NM

Event

Location & Time

Telephone Number

Conference call on
29^th January, 2025

India – 05:30 PM IST

+91 22 6280 1461 / +91 22 7115 8320 (Primary
Number)

1 800 120 1221 (Toll free number)

USA – 07:00 AM

(Eastern Time – New York)

Toll free number

18667462133

UK – 12:00 PM

(London Time)

Toll free number

08081011573

Singapore – 08:00 PM

(Singapore Time)

Toll free number

8001012045

Hong Kong – 08:00 PM

(Hong Kong Time)

Toll free number

800964448

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