Piramal Pharma Limited Announces Results for Q4 and FY2025

Consolidated Financial Highlights

(in ₹ Crores or as stated)

Particulars

Q4FY25

Q4FY24

YoY Growth

FY25

FY24

YoY Growth

Revenue from Operations

2,754

2,552

8 %

9,151

8,171

12 %

   CDMO

1,788

1,649

8 %

5,447

4,750

15 %

   CHG

705

667

6 %

2,633

2,449

8 %

   ICH

274

238

15 %

1,093

985

11 %

EBITDA

603

556

8 %

1,580

1,372

15 %

EBITDA Margin

22 %

22 %

17 %

17 %

PAT (before exceptional item)

154

132

16 %

91

81

13 %

Exceptional Item*

-

(31)

NM

-

(63)

NM

PAT (after exceptional item)

154

101

52 %

91

18

411 %

* Q4FY24 - ₹ 31 Cr towards non-cash write down of investment and license rights in relation to a certain third-party product no longer being commercialized;
Q3FY24 - ₹ 32 Cr. related to non-recurring charges towards product recall triggered by a 3^rd party supplier

Key Business Highlights for Q4 and FY2025

Contract Development and Manufacturing Organization (CDMO):

-  Increasing contribution from Innovation¹ related work - Up from 50% in FY24 to 54% in FY25, driven by commercial manufacturing of on-patent molecules

-  Robust growth in on-patent commercial manufacturing revenues - Grew by over 50% YoY to reach $179mn (Vs. $116mn in FY24 and $53mn in FY23)

-  Revenues from differentiated offerings grew 28% YoY, contributing to 49% of CDMO revenues

-  Healthy growth in API generics business

-  YoY improvement in EBITDA margin driven by better procurement strategies, cost optimization and operational excellence initiatives

-  Maintained our best-in-class quality track record - Successfully cleared 36 regulatory inspections and 165 customer audits in FY25 without any major observations

Complex Hospital Generics (CHG):

-  Inhalation Anesthesia (IA) - Major GPO contract renewal and order wins supporting IA sales in the US. Witnessing encouraging traction in the RoW markets

-  Capacity expansion in India completed and commercialized on time; poised to capitalize on ~US$400 mn² Sevoflurane market opportunity in the RoW markets

-  Maintained our #1 Rank in the US in Sevoflurane (44% market share²) and in intrathecal Baclofen (75% market share²)

-   Received approval for Neoatricon®³ for multiple markets in EU and UK by our partner BrePco Pharma. Neoatricon® is the only pre-diluted, age-appropriate formulation of dopamine, approved for treating children and infants

-  Moderation in EBITDA margins due to some non-recurring expenses and capacity expansion in India. However, recovery expected from FY26 with commercialization of these added capacities

India Consumer Healthcare (ICH):

-  ICH business crossed the strategic revenue milestone of ₹ 1,000 crores during the year

-  Power Brands continue to grow strength to strength with 20% YoY during FY25. Power Brands contributed to 49% of total ICH sales

o  Excluding i-range, which was impacted by regulatory price control, growth in power brands was about 26% in FY25

-  New Product Launches - Added 21 new products and 31 new SKUs in FY25

-  Investments in Media and Promotions – 11% of ICH sales in FY25. Launched our new media campaign with Yami Gautam for Little's

-  E-commerce sales grew at 39% YoY in FY25, contributing 21% to ICH sales,. Present on more than 20 e-commerce platforms

Consolidated Profit and Loss Statement

(in ₹ Crores or as stated)

Quarterly

Full Year

Q4FY24

YoY  Change

FY25

FY24

YoY  Change

Revenue from Operations

2,754

2,552

8 %

9,151

8,171

12 %

Other Income

42

26

59 %

135

175

(23 %)

Total Income

2,796

2,579

8 %

9,286

8,347

11 %

Material Cost

955

1,014

(6 %)

3,232

2,954

9 %

Employee Expenses

612

494

24 %

2,307

2,030

14 %

Other Expenses

626

514

22 %

2,167

1,991

9 %

EBITDA

603

556

8 %

1,580

1,372

15 %

Finance Cost

104

114

(9 %)

422

448

(6 %)

Depreciation

243

196

24 %

816

741

10 %

Share of net profit of associates

16

12

35 %

73

59

23 %

Profit Before Tax

273

258

6 %

415

242

71 %

Tax

119

126

(5 %)

324

161

100 %

Net Profit after Tax (before exceptional item)

154

132

16 %

91

81

13 %

Exceptional item*

-

(31)

NM

-

(63)

NM

Net Profit after Tax (after exceptional item)

154

101

52 %

91

18

411 %

* Q4FY24 - ₹ 31 Cr towards non-cash write down of investment and license rights in relation to a certain third-party product no longer being commercialized;
Q3FY24 - ₹ 32 Cr. related to non-recurring charges towards product recall triggered by a 3^rd party supplier

Consolidated Balance Sheet

   Key Balance Sheet Items

As at

31-Mar-24

Total Equity

8,125

7,911

Net Debt

4,199

3,932

Total

12,324

11,843

Net Fixed Assets

9,110

9,106

    Tangible Assets

4,534

4,250

    Intangible Assets including goodwill

3,599

3,740

    CWIP (including IAUD^*)

977

1,116

Net Working Capital

2,798

2,339

Other Assets^#

416

398

Total Assets

12,324

11,843

*IAUD – Intangible Assets Under Development

# Other Assets include Investments and Deferred Tax Assets (Net)

Location & Time

Telephone Number

Conference call on
15^th May, 2025

India – 09:30 AM IST

+91 22 6280 1461 / +91 22 7115 8320 (Primary Number)

1 800 120 1221 (Toll free number)

USA – 12:00 AM

(Eastern Time – New York)

Toll free number

18667462133

UK – 05:00 AM

(London Time)

Toll free number

08081011573

Singapore – 12:00 PM

(Singapore Time)

Toll free number

8001012045

Hong Kong – 12:00 PM

(Hong Kong Time)

Toll free number

800964448

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