Piramal Pharma has announced its standalone and consolidated results for the second quarter and half year, which ended 30 September.
Some key highlights for this period include:
- Revenue from Operations grew by 17% YoY, primarily driven by robust growth in CDMO business
- EBITDA grew by 28% YoY with EBITDA margin of 18%, a YoY improvement of about 150bps, driven by operating leverage, cost optimization initiatives and superior revenue mix
- Released our FY2024 Sustainability Report. The report follows GRI standards and is aligned with SASSB and UNGC frameworks. It also highlights our commitment to reduce our GHG 1 emissions in-line with SBTi’s 1.5 °C decarbonisation pathway
Piramal Pharma's Chair, Nandini Piramal, 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 capitalise on rising demand for sterile fill-finish capabilities, we have announced a $80m 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 this quarter, we released our Sustainability Report for FY24 under the theme, ‘Building Resilience for a Sustainable Tomorrow’, highlighting our progress on the sustainability initiatives. When thinking long term, we remain committed to achieving our financial goals of $2bn revenue with 25% EBITDA margin and 1x net debt / EBITDA by FY30.”
