Piramal Pharma Limited, a global pharmaceutical company, today announced its standalone and consolidated results for the Third Quarter (Q3) and Nine Months (9M), ended 31st December 2023.
Key Highlights for Q3 and 9M FY2024
- Revenue from Operations grew by 14% YoY both in Q3FY24 and 9MFY24, driven by double digit growth across all the three businesses
- EBITDA grew by 94% YoY and 71% YoY in Q3FY24 and 9MFY24 respectively, primarily driven by operating leverage, reduction in raw material cost & energy prices, cost optimisation, and operational excellence initiatives
- Net Debt / EBITDA ratio has improved over the last three quarters on account of healthy growth in EBITDA and repayment of debt from the proceeds of the recently concluded rights issue
- Sustainability - Taken a target to reduce Scope 1 and Scope 2 emissions by 42% by FY30 (with baseline of FY22), which is in accordance with 1.5 0 C trajectory suggested by SBTi. Further we have also taken a target to reduce Scope 3 emissions by 25% by FY30 (with baseline of FY22)
Nandini Piramal, the Chair of Piramal Pharma Limited stated, “Our Inhalation Anesthesia portfolio is registering good volume growth in our key market of US and is also seeing increasing traction in ROW markets. Our India Consumer Healthcare business is delivering steady growth driven by our power brands and
contribution from new product launches.
She continues: "On the sustainability front, we have taken significant reduction targets for our Scope 1, 2 and 3 GHG emissions by FY2030. We are also working on multiple initiatives in the areas of water conservation, responsible waste disposal, gender diversity, employee safety, sustainable supply chain and community development.
We look forward to continuing our momentum in Q4 and end the financial year on a positive note.”
