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Piramal Pharma Limited (NSE: PPLPHARMA | BSE: 543635), a leading global pharmaceuticals and wellness company, today announced its standalone and consolidated results for the Third Quarter (Q3) and Nine Months (9M) ended 31^st December 2024.

Consolidated Financial Highlights

                                                                                                      (in Rs. Cr. or as stated)

Key Highlights for Q3FY25/9MFY25

* Revenue from Operations grew by 14% YoY for 9MFY25, primarily driven by high-teen growth in the CDMO business 

* EBITDA grew by 20% YoY for 9MFY25, supported by operating leverage, cost optimization initiatives and superior revenue mix

* Net-Debt to EBITDA ratio maintained at 2.8x

* Best-in-Class Quality Track Record - No pending observation at any of our US FDA inspected sites

* Significant Step Towards Sustainable Operations - Converted the coal-fired steam boiler at our Digwal facility to operate on biomass briquettes, a carbon-neutral fuel source. This will eliminate ~24,000 tCO2e¹ GHG² emissions annually accounting for about 17% of our total emissions

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.”

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

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