Piramal Pharma Ltd Share Price – NSE /  BSE

Pharmaceuticals, Small Cap

Revenue from operations grew by 17.28% year on year (YoY) to Rs 2,241.75 crore during the quarter, primarily driven by robust growth in CDMO business.

The company's revenue from contract development and manufacturing organization (CDMO) was at Rs 1,324 crore (up 24% YoY), complex hospital generics (CHG) stood at Rs 643 crore (up 9% YoY) and India consumer healthcare (ICH) came in at Rs 277 crore (up 8% YoY) during the period under review.

The drug maker’s profit before tax soared 203.64% to Rs 120.12 crore in September 2024 quarter from Rs 39.56 crore posted in same quarter a year ago.

EBITDA grew 28% YoY to Rs 403 crore with EBITDA margin of 18%, a YoY improvement of over 150 bps, driven by operating leverage, cost optimization initiatives and superior revenue mix.

Nandini Piramal, chairperson of Piramal Pharma, said, “We continue our momentum of delivering healthy revenue growth accompanied by YoY EBITDA margin expansion. This has been primarily driven by consistent growth in our CDMO business which has witnessed a good pick-up in innovation related work and on-patent commercial revenues. To sustain this growth momentum and to capitalize on rising demand for sterile fill-finish capabilities, we have announced a US$80Mn expansion plan at our Lexington facility which is expected to get complete by end FY27.

In our CHG business, we are witnessing steady volume growth in inhalation anesthesia products in the US and Emerging Markets. In our ICH business, we continue to see a robust growth in our power brands and e-commerce sales.

During the quarter, we released our Sustainability Report for FY24 under the theme, ‘Building Resilience for a Sustainable Tomorrow’, highlighting our progress on the sustainability initiatives. Over the long term, we remain committed to achieving our financial goals of $2 billion revenue with 25% EBITDA margin and 1x net debt / EBITDA by FY30.”

Piramal Pharma (PPL) offers a portfolio of differentiated products and services through end-to-end manufacturing capabilities across 17 global 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.

The scrip hit an all time high of Rs 249.60 in today’s intraday session.

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The headline equity benchmarks traded with minor gains in morning trade. The Nifty traded above the 24,400 level. PSU Bank shares extended gains for the second consecutive trading session. Trading could be volatile due to weekly F&O series expiry today.

At 10:30 IST, the barometer index, the S&P BSE Sensex, added 21.40 points or 0.03% to 80,103.38. The Nifty 50 index rose 3.05 points or 0.01% to 24,438.55.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.40% and the S&P BSE Small-Cap index added 0.27%.

The market breadth was positive. On the BSE, 1,836 shares rose and 1,677 shares fell. A total of 159 shares were unchanged.

Result today:

ITC (down 0.97%), NTPC (up 0.67%), IndusInd Bank (down 0.26%), Radico khaitan (up 1.75%), United Breweries (down 1.37%), Aarti Drugs (down 0.38%), JSW Energy (down 0.66%), ACC (up 1.13%), Apcotex Industries (up 1.68%), Adani Total Gas (up 1.83%), Adani Wilmar (up 0.34%), Bikaji Foods International (up 0.53%), Castrol India (down 1.37%), Chalet Hotels (up 2.74%), CIE Automotive India (up 0.45%), Colgate-Palmolive (INDIA) (down 1.05%), CSB Bank (up 0.69%), Cyient (up 2.87%), DCB Bank (down 0.85%), Dixon Technologies (India) (up 0.74%), Finolex Industries (down 0.10%), Glenmark Life Sciences (down 1.01%), GMR Airports Infrastructure (up 1.40%), Go Digit General Insurance (down 0.37%), Godrej Consumer Products (down 1.10%), Home First Finance Company (down 0.35%) and Strides Pharma Science (up 1.05%) will declare their result later today.

Buzzing Index:

The Nifty PSU Bank index gained 1.08% to 6,421. The index rallied 1.53% in two consecutive trading sessions.

UCO Bank (up 1.36%), Punjab National Bank (up 0.59%), Central Bank of India (up 0.42%), Canara Bank (up 0.41%), State Bank of India (up 0.38%), Bank of Baroda (up 0.35%), Indian Bank (up 0.29%), Punjab & Sind Bank (up 0.06%) advanced.

On the other hand, Indian Overseas Bank (down 0.84%), Union Bank of India (down 0.58%) and Bank of Maharashtra (down 0.54%) edged lower.

Stocks in Spotlight:

Piramal Pharma surged 10.24% after the company’s consolidated net profit surged 360% to Rs 23 crore during the quarter as compared with Rs 5 crore posted in corresponding quarter last year. Revenue increased 17% YoY to Rs 2,242 crore in Q2 FY25.

Birlasoft slipped 3.71% after the company’s consolidated net profit declined 14.66% to Rs 128 crore during the quarter as compared with Rs 150 crore in Q1 FY25. Revenue increased 3.08% QoQ to Rs 1,368 crore during the quarter.

United Spirits shed 0.11%. The company’s consolidated net profit fell 1.76% to Rs 335 crore during the quarter as compared with Rs 341 crore in Q2 FY24. Revenue (excluding excise duty) fell 0.77% to Rs 2,843 in Q2 FY25 as compared with Rs 2,865 crore in Q2 FY24.

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Net profit of Piramal Pharma rose 350.00% to Rs 22.59 crore in the quarter ended September 2024 as against Rs 5.02 crore during the previous quarter ended September 2023. Sales rose 17.28% to Rs 2241.75 crore in the quarter ended September 2024 as against Rs 1911.38 crore during the previous quarter ended September 2023.

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Piramal Pharma will hold a meeting of the Board of Directors of the Company on 23 October 2024.

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