Piramal Pharma Ltd

Piramal Pharma Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Piramal Pharma Ltd

₹ 139 -2.32%
24 Apr - close price
piramal.com BSE: 543635 NSE : PPLPHARMA
About

Piramal Pharma Limited (PPL) is part of the Piramal group of companies. The company operates through 3 major segments
(1) Contract development and manufacturing organisations (CDMO), (2) Complex hospital generics (critical care), and (3) consumer healthcare (OTC).
Company entered Pharma space back in 1988 with acquisition of Nicholas Laboratories and grew through a series of Mergers & Acquisitions[1] and various organic initiatives. In 2010 the Domestic formulations business was sold to Abott for $3.7 billion[2] and Diagnostic Services was sold to Super Religare Laboratories (SRL)[3]

Key Points

Business units [1]
(1) Contract Development and Manufacturing Operations (CDMO)
The company operates out of 13 CDMO sites with major presence in North America (4), Europe(2) and India (7). It is amongst the Top 3 CDMO players in India and the 13th largest Globally with capabilities across drug substance and drug product. It works with ~500 CDMO customers globally.
The CDMO business offers Drug discovery, drug development and commercial manufacturing. 46% of molecules are in Phase-3 development. It has an integrated offering form Pre-clinical to commercialization stage covering all requirements of innovators.
In Q3FY24, company received its first integrated anti-body drug conjugate (ADC) order involving monoclonal antibodies. Three sites were involved in this – Lexington, Grangemouth and Yapan.[2]

Website BSE NSE
  • Market Cap ₹ 18,369 Cr.
  • Current Price ₹ 139
  • High / Low ₹ 149 / 67.9
  • Stock P/E 115
  • Book Value ₹ 48.0
  • Dividend Yield 0.00 %
  • ROCE 3.71 %
  • ROE 1.40 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 2.89 times its book value
  • Earnings include an other income of Rs.212 Cr.
  • Company's cost of borrowing seems high
  • Working capital days have increased from 95.3 days to 135 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Pharmaceuticals Industry: Pharmaceuticals - Indian - Bulk Drugs & Formln

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
803 796 1,127 746 829 813 1,055 846 994 1,024
692 658 945 813 782 786 965 830 908 899
Operating Profit 111 138 182 -66 47 27 90 17 86 126
OPM % 14% 17% 16% -9% 6% 3% 8% 2% 9% 12%
61 57 75 107 111 54 63 27 89 33
Interest 15 15 20 20 29 33 34 34 28 17
Depreciation 38 41 51 45 47 47 53 50 51 52
Profit before tax 119 139 187 -25 82 1 66 -41 96 90
Tax % 23% 19% 19% 30% 42% 427% 36% 18% 20% 17%
91 112 151 -17 47 -2 42 -33 77 74
EPS in Rs 0.36 -0.02 0.32 -0.25 0.58 0.56
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Mar 2022 Mar 2023 TTM
2,939 3,340 3,443 3,919
2,320 2,864 3,345 3,602
Operating Profit 619 476 98 318
OPM % 21% 14% 3% 8%
216 209 334 212
Interest 5 57 116 113
Depreciation 144 165 192 206
Profit before tax 687 462 124 211
Tax % 17% 20% 44%
572 368 70 160
EPS in Rs 0.53 1.21
Dividend Payout % 0% 18% 0%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 11%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -13%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 101%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 995 1,186 1,193 1,323
Reserves 3,106 3,937 4,068 5,021
174 1,164 1,649 625
1,482 1,083 1,131 1,388
Total Liabilities 5,757 7,371 8,042 8,358
1,627 2,439 2,602 2,860
CWIP 121 405 417 155
Investments 1,592 1,630 1,747 1,692
2,417 2,897 3,277 3,651
Total Assets 5,757 7,371 8,042 8,358

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Mar 2022 Mar 2023
35 249 72
-4,383 -1,165 -435
4,494 896 290
Net Cash Flow 146 -19 -73

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Mar 2022 Mar 2023
Debtor Days 104 108 96
Inventory Days 125 125 169
Days Payable 174 151 157
Cash Conversion Cycle 56 82 108
Working Capital Days 39 112 135
ROCE % 10% 4%

Shareholding Pattern

Numbers in percentages

3 Recently
Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
34.78% 34.78% 34.78% 35.02% 35.02% 35.02%
41.29% 39.28% 35.01% 32.37% 32.51% 30.58%
5.26% 4.98% 5.48% 8.01% 9.68% 12.12%
18.27% 20.57% 24.32% 24.21% 22.41% 21.89%
0.39% 0.39% 0.39% 0.38% 0.38% 0.37%
No. of Shareholders 2,29,9602,41,3592,77,2703,00,6062,92,3122,97,996

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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