Piramal Pharma Ltd

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

Piramal Pharma Ltd

₹ 246 -1.88%
21 Nov - 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 15 CDMO sites with major presence in North America (4), Europe(2) and India (9). It is amongst the Top 3 CDMO players in India and the 13th largest globally.
The company has ~500 CDMO customers as of FY24. [2]
The company is targeting more integrated projects, 40% of their new orders in FY24 were for integrated projects.
Revenue by Services[3]
Other Commercial Manufacturing - 50%
On-patent Commercial Manufacturing - 20%
Development - 26%
Discovery - 4%
84% of the revenues is earned from regulated markets like US, Europe and Japan. [4]

Website BSE NSE
  • Market Cap ₹ 32,600 Cr.
  • Current Price ₹ 246
  • High / Low ₹ 308 / 114
  • Stock P/E 50.7
  • Book Value ₹ 52.9
  • Dividend Yield 0.04 %
  • ROCE 8.25 %
  • ROE 6.48 %
  • Face Value ₹ 10.0
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Pros

  • Company is expected to give good quarter

Cons

  • Stock is trading at 4.65 times its book value
  • Company has a low return on equity of 5.31% 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

Part of BSE 400 MidSmallCap Index Nifty Smallcap 50 Nifty Smallcap 250 Nifty Smallcap 100 BSE Allcap

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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 Mar 2024 Jun 2024 Sep 2024
803 796 1,127 746 829 813 1,055 846 994 1,024 1,525 1,063 1,284
692 658 945 813 782 786 965 830 908 899 1,136 912 1,032
Operating Profit 111 138 182 -66 47 27 90 17 86 126 390 152 253
OPM % 14% 17% 16% -9% 6% 3% 8% 2% 9% 12% 26% 14% 20%
61 57 75 107 111 54 63 27 89 33 53 37 106
Interest 15 15 20 20 29 33 34 34 28 17 28 25 30
Depreciation 38 41 51 45 47 47 53 50 51 52 52 52 54
Profit before tax 119 139 187 -25 82 1 66 -41 96 90 363 112 276
Tax % 23% 19% 19% -30% 42% 427% 36% -18% 20% 17% 25% 24% 24%
91 112 151 -17 47 -2 42 -33 77 74 273 85 210
EPS in Rs 0.36 -0.02 0.32 -0.25 0.58 0.56 2.06 0.64 1.58
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
2,939 3,340 3,443 4,390 4,897
2,320 2,864 3,345 3,772 3,977
Operating Profit 619 476 98 618 920
OPM % 21% 14% 3% 14% 19%
216 209 334 202 229
Interest 5 57 116 107 100
Depreciation 144 165 192 205 210
Profit before tax 687 462 124 508 840
Tax % 17% 20% 44% 23%
572 368 70 391 643
EPS in Rs 0.53 2.96 4.84
Dividend Payout % 0% 18% 0% 4%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 14%
TTM: 32%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: -11%
TTM: 674%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 98%
Return on Equity
10 Years: %
5 Years: %
3 Years: 5%
Last Year: 6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 995 1,186 1,193 1,323 1,323
Reserves 3,106 3,937 4,068 5,389 5,694
174 1,164 1,649 1,177 1,457
1,482 1,083 1,131 1,662 1,549
Total Liabilities 5,757 7,371 8,042 9,551 10,023
1,627 2,439 2,602 2,612 2,915
CWIP 121 405 417 533 254
Investments 1,592 1,630 1,747 1,708 2,964
2,417 2,897 3,277 4,697 3,890
Total Assets 5,757 7,371 8,042 9,551 10,023

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Mar 2022 Mar 2023 Mar 2024
35 249 72 358
-4,383 -1,165 -435 -635
4,494 896 290 451
Net Cash Flow 146 -19 -73 175

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 104 108 96 111
Inventory Days 125 125 169 200
Days Payable 174 151 157 192
Cash Conversion Cycle 56 82 108 119
Working Capital Days 39 112 135 129
ROCE % 10% 4% 8%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
34.78% 34.78% 34.78% 35.02% 35.02% 35.02% 34.94% 34.94%
41.29% 39.28% 35.01% 32.37% 32.51% 30.58% 31.41% 31.73%
5.26% 4.98% 5.48% 8.01% 9.68% 12.12% 12.95% 13.80%
18.27% 20.57% 24.32% 24.21% 22.41% 21.89% 20.20% 19.06%
0.39% 0.39% 0.39% 0.38% 0.38% 0.37% 0.47% 0.45%
No. of Shareholders 2,29,9602,41,3592,77,2703,00,6062,92,3122,97,9963,06,3983,59,751

* 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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