Q4FY24 Quarterly & FY24 Annual Result Announced for Piramal Pharma Ltd.
Pharmaceuticals company Piramal Pharma announced Q4FY24 & FY24 results: Revenue from Operations grew by 18% YoY and 15% YoY in Q4FY24 and FY24 respectively, driven by healthy growth in our 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 optimization, and operational excellence initiatives Net Profit After Tax (before exceptional Items) more than doubled in Q4FY24 at Rs 132 crore compared to Rs 50 crore 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, Chairperson, 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 Antibody Drug Conjugate segment was commercialized 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. Our India Consumer Healthcare business is also continuing to perform well with focus on better EBITDA margin. During the year, we also showed a significant improvement in our profitability with EBITDA margin of 17% (Vs. 12% in FY23). All our three businesses delivered higher EBITDA margins through operating leverage, cost optimization, and operational excellence initiatives. Our Net Debt / EBITDA ratio also improved significantly, as we ended the financial year below 3x compared to 5.6x at the start of the year.” Result PDF13-05-2024
