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MUMBAI, India, May 11, 2024 /PRNewswire/ — Piramal Pharma Limited (NSE: PPLPHARMA) (BSE: 543635), a leading global pharmaceutical company, today announced its standalone and consolidated results for the fourth quarter (Q4). and the full year ending March 31, 2024.
Q4 and FY2024 Highlights
Nandini Piramal, President, Piramal Pharma Limited, said, “FY24 has been a strong year for the Company with overall improvements, primarily driven by our CDMO business, which delivered strong YoY revenue growth of 19%. We saw a significant increase in order intake, especially for commercial patent-based manufacturing, amid a difficult biotech funding environment Contributions from our work related to innovation and differentiated offerings also increased in FY24. It was commercialized. expanding capacity at our Grangemouth facility for the antibody-drug conjugate segment and is generating strong customer interest.
In the inhalation anesthesia business, we continue to maintain our leadership position in sevoflurane in the US market and are expanding our capabilities to take advantage of growing demand in ROW markets. Our Consumer Healthcare business in India also continues to perform well, focusing on better EBITDA margin.
During the year, we also showed significant improvement in our profitability with an EBITDA margin of 17% (up from 12% in FY23). Our three businesses generated 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 beginning of the year.”
Fourth Quarter and Fiscal Year 2024 Results Conference Call
Piramal Pharma Limited will host an investor/analyst conference call on May 13, 2024 from 9:30 AM to 10:15 AM (IST) to discuss its Q4 and FY2024 results.
Dial-in details for the call are as follows:
About Piramal Pharma Ltd:
Piramal Pharma Limited (PPL, NSE: PPLPHARMA) (BSE: 543635), offers a portfolio of differentiated products and services through its 17 global facilities that include end-to-end manufacturing and development capabilities and a global distribution network across more from 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated contract development and manufacturing organization; Piramal Critical Care (PCC), a Complex Hospital Generics business; and the India Consumer Healthcare business, which sells over-the-counter products. Additionally, one of PPL’s associate companies, AbbVie Therapeutics India Private Limited (formerly Allergan India Pvt Ltd), is a joint venture between Allergan (now part of AbbVie) and PPL and has become one of the market leaders in the area of ophthalmological therapy. Additionally, PPL has a minority investment in Yapan Bio Private Limited. In October 2020, PPL received a 20% strategic growth investment from Carlyle Group.
For more information, visit: https://www.piramalpharma.com/, Facebook, Twitter, LinkedIn
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