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 ₹ 9,779 Cr.
- Current Price ₹ 82.0
- High / Low ₹ 202 / 63.1
- Stock P/E
- Book Value ₹ 56.8
- Dividend Yield 0.00 %
- ROCE 1.99 %
- ROE -2.76 %
- Face Value ₹ 10.0
Pros
Cons
- Company has low interest coverage ratio.
- Promoter holding is low: 34.8%
- Earnings include an other income of Rs.272 Cr.
* 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 | |
|---|---|---|---|
| 6,315 | 6,559 | 7,082 | |
| 4,887 | 5,609 | 6,453 | |
| Operating Profit | 1,428 | 950 | 628 |
| OPM % | 23% | 14% | 9% |
| 230 | 320 | 272 | |
| Interest | 163 | 198 | 344 |
| Depreciation | 545 | 586 | 677 |
| Profit before tax | 949 | 485 | -120 |
| Tax % | 12% | 22% | -55% |
| Net Profit | 835 | 376 | -186 |
| EPS in Rs | -1.56 | ||
| Dividend Payout % | 0% | 0% | 0% |
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| TTM: | 8% |
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| TTM: | -148% |
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| Last Year: | -3% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|
| 995 | 1,186 | 1,193 | |
| Reserves | 4,610 | 5,511 | 5,580 |
| 3,025 | 4,128 | 5,637 | |
| 2,047 | 1,781 | 2,112 | |
| Total Liabilities | 10,677 | 12,605 | 14,523 |
| 6,105 | 6,879 | 8,034 | |
| CWIP | 627 | 1,172 | 853 |
| Investments | 123 | 267 | 639 |
| 3,822 | 4,286 | 4,996 | |
| Total Assets | 10,677 | 12,605 | 14,523 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|
| 598 | 766 | 484 | |
| -4,464 | -1,737 | -1,339 | |
| 3,977 | 794 | 818 | |
| Net Cash Flow | 110 | -177 | -37 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|
| Debtor Days | 91 | 99 | 93 |
| Inventory Days | 218 | 207 | 227 |
| Days Payable | 163 | 153 | 161 |
| Cash Conversion Cycle | 147 | 153 | 159 |
| Working Capital Days | 78 | 115 | 146 |
| ROCE % | 7% | 2% |
Documents
Announcements
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 1 Jun
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 29 May
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Compliances-Reg.24(A)-Annual Secretarial Compliance
26 May - Secretarial Compliance Report for the year ended 31st March, 2023
- Audio Recording Of Conference Call On The Financial Results (Standalone And Consolidated) For The Quarter And Year Ended 31St March, 2023 25 May
- Intimation Of Annual General Meeting Of The Company 24 May
Annual reports
No data available.
Concalls
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May 2023Transcript PPT REC
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May 2023TranscriptNotesPPT
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Feb 2023Transcript PPT REC
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Nov 2022TranscriptPPT
Business units [1]
(1) Contract Development and Manufacturing Operations (CDMO) (59% of revenues in FY22)[2]
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 has grown at a CAGR of 13% (FY11-FY22) and 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.