Piramal Pharma Limited Announces Consolidated Results for Q1 2024

2023-08-04 12:20:03

Mumbai, India (ots/PRNewswire) – Piramal Pharma Limited (NSE: PPLPHARMA | IBMBSE: 543635), today announced its consolidated results for the first quarter of Q1 (ended June 30, 2023).

Consolidated financial data

(In INR)
Detailed information Q1 Q1 YoY growth Q4 QoQ growth

FY24 FY23 FY23
Income from activities 1,749 1,482 18% 2,164 -19%
operative
CDMO 898 770 17 % 1,285 -30 %
Complex Hospital Generic 617 508 22 % 702 -12 %
(CHG)
India Consumer Healthcare 239 211 13 % 206 16 %
(I)
EBITDA 171 89# 92% 376 -55%

Margin EBITDA 10 % 6 % 17 %
PAT -99 -109 N/A 50 -297 %

PAT margin -6% -7% 2%

# EBITDA for Q1 2023 had a one off impact on inventory margin of INR 68

Highlights for Q1 2024 (Q1 2024)

• Operations revenue grew 18% in Q1 2024 on broad core performance across all three companies: CDMO, CHG and IH
• Q1 2024 EBITDA margin was 10%, a 6% year-over-year improvement over Q1 2023 driven by healthy revenue growth and cost optimization measures
• We maintain our excellent performance of zero OAI (Official Action Indicated) as we successfully closed the US FDA inspection of the Pithampur facility without remarks
• Strengthened our Leadership Team by appointing Jeffrey Hampton as President and Chief Operating Officer of Piramal Critical Care (CHG Division)
• We have shared the details of our Rights Issue – INR Rights Price. 81, registration date of 2 August 2023 and ownership ratio of 5:46

Nandini Piramal, President of Piramal Pharma Limitedhe has declared: “We had a positive start to the new financial year with good revenue growth and an improvement in our EBITDA margins. Our CDMO business is also seeing continued order flow, particularly for our differentiated offerings and the innovation-driven work.Our inhalation anesthesia portfolio is seeing good demand and our India Consumer Healthcare business is experiencing strong growth led by major brands.We continue to maintain our excellent track record in quality and we are also taking multiple ESG-related initiatives to responsibly grow our business. Historically our second quarter has always been better than the first, both in terms of revenue and profitability. We are working to build on our strong start to the financial year and continue that momentum to deliver strong year-over-year performance for the remainder of the year. We believe in the growth potential of our company and are therefore working on executing our strategic priorities to create shareholder value. Our promoter and promoter group agreed to underwrite 100% of the shares offered in our rights issue, thereby reaffirming their confidence in the
underlying strengths of our company”.

Highlights for Q1 2024 (Q1 2024)

Contract Development and Manufacturing (CDMO):
– We have seen continued momentum in order intake and strong execution in Q1 2024. We continue to see good demand from our supply
differentiated into the niche areas of highly active APIs, peptides, drugs
Antibody Conjugates (ADCs) and Patented API Development and Manufacturing – Recent facility expansion capabilities with a differentiated offering that is
seeing encouraging customer demand – Antibody Drug Conjugate (ADC) Capacity Expansion at Plant in
Grangemouth to strengthen our position in the ADC market
– YoY improvement in demand for our generic API business – We maintained our quality performance: we successfully passed 8 regulatory inspections (including a US FDA inspection at our
Pithampur) and multiple customer reviews Q1 2024 – Cost optimisation, procurement strategy and operational excellence helping to mitigate inflationary pressures and improve profitability

Complex Hospital Generics (CHG):
– Continued momentum in inhaled anesthesia (IA) sales, primarily driven by a
Strong Demand for Sevoflurane – Expanding Inhalational Anesthesia Capacity to Meet Growing Demand – Intrathecal product range in the US continues to hold market share of
Featured – Building a pipeline of over 27 new products that are in various stages of development. Launch
of 1 new product in Q1 2024 – Appointed Jeffrey Hampton as President and Chief Operating Officer of CHG Division. Jeff has
previously worked with Accord Healthcare, Inc. and Apotex Inc.

India Consumer Healthcare (ITH):

– 11 new products and 3 new SKUs launched in Q1 2024 – We continue our commercial and media investments to drive the growth of the most
Major – Major brands, namely Littles, Lacto Calamine, Polycrol, Tetmosol and I-range, grew 15% year over year in Q1 2024, contributing 43% of sales of
ICH – E-commerce grew over 18% YoY in Q1 2024 – Broad distribution reach in general commerce and we are also strengthening our presence in alternative distribution channels including e-commerce, modern commerce And
through our direct customer website: Wellify.in

Consolidated balance sheet and consolidated income statement

(In INR)

Financial data disclosed
Detailed information Q1FY24 Q1FY23 Change YoY Q4FY22 Change QoQ
Income from activities 1,749 1,482 18% 2,164 -19%
operative
Other income 38 72 -47% 25 56%
Total revenues 1,787 1,554 15% 2,188 -18%
Cost of materials 627 574 9% 840 -25%
Employee expenses 496 461 8% 474 5%
Other expenses 494 430 15% 499 -1%
EBITDA 171 89# 92% 376 -55%
Financial cost 119 62 90% 104 14%
Depreciation 174 162 7% 184 -6%
Share pertaining to 14 20 -28 % 8 85 %
result of the period
of related companies
Profit before -107 -115 -7 % 95 -213 %
taxes
Transom -9 -6 N/A 45 -119%
Net profit after -99 -109 N/A 50 -297 %
of taxes

Voices of nature 0 0 0
extraordinary
Net profit -99 -109 N/A 50 -297 %
tax considering the
voices of nature
extraordinary

# EBITDA in Q1 2023 had a one off impact on inventory margin of INR 68

Q1 2024 earnings call

Piramal Pharma Limited will hold a video conference for investors/analysts on August 4, 2023 at 10:00 (IS) to discuss Q1 2024 results.

The details for connecting to the call are as follows:

Event Place and time Telephone number
Teleconference India: 10:00 IST [phone]/[phone] (number
nza of the primary)

August 4th
2023

1 800 120
1221
(number
verde)

States Toll Free
united:
12:30 18667462133

(Not
standard
Oriental,
New York)

Kingdom Toll Free
United: 5:30
08081011573
(Melted
time of
London)

Singapore: Toll free
12:30
8001012045
(Melted
time of
Singapore)

Hong Kong: Toll Free
12:30
800964448
(Melted
time of
Hong Kong)
Join Use this link to pre-register and reduce waiting times at one Express when joining the call: con Diamond Registration/register?confirmationNumber=9503078&linkSecurityString=33aa158d84 (https: Pass™ //clicktime.symantec.com/15tT4GjxmEhECEVGEkzno?h=FyraOXJiyZoP2HmL8HIjzoz6xFG9wsBTH0Lym zV70kI=&u=Registration/register?confirmation
Number%3D9503078%26linkSecurityString%3D33aa158d84)

About Piramal Pharma Ltd:

Piramal Pharma Limited (NSE: PPLPHARMA) (BSE: 543635), offers a portfolio of differentiated products and services through its 17 global development and manufacturing 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 hospital generic complex drug company; and the India Consumer Healthcare division, which sells over-the-counter products. Additionally, one of PPL’s ​​related companies, Allergan India Private Limited, is a joint venture with AbbVie Inc. and has emerged as one of the market leaders in the field of ophthalmological therapies. Additionally, PPL has a minority investment in Yapan Bio Private Limited. PPL received a 20% strategic growth investment in October 2020 from the Carlyle Group.

For more information visit: www.piramaI.com/pharma I I inkedln | Facebook I Twitter

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Questions & contact:

Rajiv Banerjee,
Corporate Communications,
Piramal Enterprises Ltd. [e-mail] ([phone]) | For Investors: Gagan Borana General Manager – Investor Relations & Sustainability,
[e-mail]

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