Piramal Pharma Ltd
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]
- Market Cap ₹ 29,680 Cr.
- Current Price ₹ 224
- High / Low ₹ 244 / 87.5
- Stock P/E 737
- Book Value ₹ 59.8
- Dividend Yield 0.05 %
- ROCE 5.49 %
- ROE 0.22 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 3.74 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of 1.06% over last 3 years.
* 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|
6,315 | 6,559 | 7,082 | 8,171 | 8,373 | |
4,887 | 5,609 | 6,453 | 6,974 | 7,105 | |
Operating Profit | 1,428 | 950 | 629 | 1,197 | 1,268 |
OPM % | 23% | 14% | 9% | 15% | 15% |
230 | 319 | 272 | 172 | 161 | |
Interest | 163 | 198 | 344 | 448 | 437 |
Depreciation | 545 | 586 | 677 | 741 | 752 |
Profit before tax | 949 | 485 | -120 | 179 | 241 |
Tax % | 12% | 22% | 55% | 90% | |
835 | 376 | -186 | 18 | 28 | |
EPS in Rs | -1.41 | 0.13 | 0.22 | ||
Dividend Payout % | 0% | 18% | 0% | 82% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 9% |
TTM: | 14% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | -73% |
TTM: | 123% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 132% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 1% |
Last Year: | 0% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|
Equity Capital | 995 | 1,186 | 1,193 | 1,323 |
Reserves | 4,610 | 5,511 | 5,580 | 6,588 |
3,025 | 4,128 | 5,637 | 4,710 | |
2,047 | 1,781 | 1,893 | 2,461 | |
Total Liabilities | 10,677 | 12,605 | 14,303 | 15,083 |
6,105 | 6,879 | 7,469 | 7,990 | |
CWIP | 627 | 1,172 | 1,419 | 1,116 |
Investments | 123 | 267 | 639 | 385 |
3,822 | 4,286 | 4,777 | 5,592 | |
Total Assets | 10,677 | 12,605 | 14,303 | 15,083 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|
598 | 766 | 484 | 1,005 | |
-4,464 | -1,737 | -1,334 | -416 | |
3,977 | 794 | 818 | -422 | |
Net Cash Flow | 110 | -177 | -32 | 166 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|
Debtor Days | 91 | 99 | 93 | 95 |
Inventory Days | 218 | 207 | 227 | 269 |
Days Payable | 163 | 153 | 161 | 190 |
Cash Conversion Cycle | 147 | 153 | 159 | 174 |
Working Capital Days | 78 | 115 | 124 | 115 |
ROCE % | 7% | 2% | 5% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
1d - Schedule of Analyst/Investor meetings on 24th September.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
2d - Piramal Pharma commits to reduce GHG emissions by 2030.
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 10 Sep
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Announcement under Regulation 30 (LODR)-Acquisition
30 Aug - Approval for investment in Piramal Dutch Holdings N.V.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
23 Aug - Of Schedule of Analyst/ Institutional Investor Meetings under the SEBI (LODR) Regulations, 2015
Concalls
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Jul 2024Transcript PPT REC
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Jul 2024TranscriptNotesPPT
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May 2024Transcript PPT REC
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Jan 2024Transcript PPT
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Jan 2024TranscriptNotesPPT REC
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Oct 2023Transcript PPT
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Oct 2023TranscriptNotesPPT
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Aug 2023Transcript PPT
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May 2023Transcript PPT REC
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May 2023TranscriptNotesPPT
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Feb 2023TranscriptPPTREC
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Jan 2023TranscriptNotesPPT
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Nov 2022TranscriptPPT
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]