Piramal Pharma Limited Announces Consolidated Results for Q1FY24.
Key Highlights for Q1FY24
Revenue from Operation grew by 18% YoY in Q1FY24 driven by broad base performance across
all three businesses – CDMO, CHG and ICH
EBITDA margin in Q1FY24 was 10%, a YoY improvement compared to 6% in Q1FY23, driven by
healthy revenue growth and cost optimization measures
We maintain our quality track record of zero OAIs (Official Action Indicated) as we successfully
closed the US FDA inspection at the Pithampur facility with zero observations
We strengthened our Management Team by appointing Jeffrey Hampton as President & Chief
Operating Officer for Piramal Critical Care (CHG business)
We have shared the details of our Rights Issue – Rights Price of INR. 81, Record Date of August 2,
2023 and Entitlement Ratio of 5:46
Nandini Piramal, Chairperson, Piramal Pharma Limited said, “We had a positive start to the new financial
year with healthy revenue growth and improvement in our EBITDA margins. Our CDMO business is also
witnessing continued order inflows, especially for our differentiated offerings and innovation related work.
Our Inhalation Anesthesia portfolio is seeing a healthy demand and our India Consumer Healthcare
business is delivering good growth driven by power brands. We continue to maintain our best-in-class
quality track record and are also taking multiple initiatives in the area of ESG to grow our business
responsibly.
Historically our H2 has been better than H1, both in terms of revenue and profitability. We are working to
leverage our good start to the financial year and continuing this momentum to deliver a healthy YoY
performance for the rest of the year. We believe in the growth potential of our business and are accordingly
executing on our strategic priorities to create shareholder value. Our promoter and promoter group have
agreed to subscribe to the extent of 100% of the equity shares offered in our Rights Issue, thereby
reaffirming their confidence in the underlying strengths of our business”
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