Piramal Pharma Limited, a global pharmaceuticals company, has declared its standalone and consolidated results for the Fourth Quarter (Q4) and Full Year (FY) ended 31st March 2024.
Key Highlights for Q4 and FY2024 include:
- Revenue from Operations grew by 18% YoY and 15% YoY in Q4FY24 and FY24 respectively, driven by healthy growth in its CDMO and ICH businesses
- EBITDA grew by 48% YoY and 61% YoY in Q4FY24 and FY24 respectively, primarily driven by revenue growth, operating leverage, cost optimisation and operational excellence initiatives
- Net Profit After Tax (before exceptional Items) more than doubled in Q4FY24 at INR 132 Crores compared to INR 50 Crores in Q4FY23
- Net Debt / EBITDA improved from 5.6x at the start of the financial year to 2.9x at the end of FY24
Nandini Piramal, Chair of Piramal Pharma Limited said, “FY24 has been a strong year for the Company with all round improvement, mainly driven by our CDMO business that delivered a robust 19% YoY revenue growth. We saw significant increase in order inflows, especially for on-patent commercial manufacturing, amidst a difficult biotech funding environment."
"Contributions from our innovation-related work and differentiated offerings also increased in FY24. Capacity expansion at our Grangemouth facility for the Antibody Drug Conjugate segment was commercialised and is seeing good customer interest.
In the Inhalation anesthesia business, we continue to maintain our leading position in Sevoflurane in the US market and are expanding our capacities to tap the growing demand in the ROW markets."
