Piramal Pharma has announced its consolidated results for the fourth quarter (Q4) and full year FY23 ended 31 March 2023.
The previous year (FY22) financials do not include non-common control transactions and hence YoY financials are not strictly comparable. Please refer to pages 3 and 4 for detailed explanation and like-to-like financials.
EBITDA stands for earnings before interest, taxes, depreciation, and amortisation which has been arrived at by adding finance expense, depreciation expense to the profit before tax for the period
Key Highlights for Q4 FY23 and FY23
- Revenue from Operation grew by 2% YoY in Q4FY23 and 8% in FY23
- EBITDA margin for Q4 FY23 and FY23 was 17% and 12% respectively impacted by lower sales and higher operating expenses
- Successfully cleared multiple regulatory inspections and customer audits in FY23
- New capabilities / capacity expansion gone live at Ahmedabad PDS, peptide facility (Turbhe, India) and Riverview (US) are witnessing good customer demand
- Rights Issue – DLOF filed with the SEBI, currently under review
Nandini Piramal, Chairperson, Piramal Pharma said: “Over the recent years, Q4 has always been the strongest quarter for the company in terms of revenue contribution and EBITDA margin. This year as well, we have seen a healthy pickup in our Q4 revenues and EBITDA margin compared to previous three quarters of the financial year.
"Our CDMO business, which had a challenging year, witnessed significant pickup in order bookings in Q4. Our Inhalation Anesthesia portfolio continues to see a healthy demand and hence we are expanding our capacities. Our India Consumer Healthcare business is delivering good growth driven by our power brands.
"We continue to maintain our quality track record with successful US FDA inspections – zero observations at Riverview and Digwal facilities, and EIR received for Lexington and Sellersville facilities. We believe in the potential of our businesses and our main focus over the next few months will be on capturing demand and executing them well, driving productivity through operational excellence and executing critical maintenance and growth capex.”