Piramal Pharma Ltd

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

Piramal Pharma Ltd

₹ 209 -4.33%
21 Feb - 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 ₹ 27,715 Cr.
  • Current Price ₹ 209
  • High / Low ₹ 308 / 114
  • Stock P/E 528
  • Book Value ₹ 59.6
  • Dividend Yield 0.05 %
  • ROCE 5.49 %
  • ROE 0.22 %
  • Face Value ₹ 10.0
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Pros

Cons

  • Stock is trading at 3.51 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

Part of Nifty Total Market Nifty Alpha 50 Nifty MidSmallcap 400 BSE Healthcare Nifty Smallcap 50

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024
1,539.12 2,131.36 1,481.99 1,720.01 1,715.97 2,163.58 1,748.85 1,911.38 1,958.57 2,552.36 1,951.14 2,241.75 2,204.22
1,313.53 1,733.30 1,464.91 1,547.45 1,628.64 1,812.31 1,616.53 1,645.74 1,690.20 2,022.43 1,746.65 1,900.14 1,866.48
Operating Profit 225.59 398.06 17.08 172.56 87.33 351.27 132.32 265.64 268.37 529.93 204.49 341.61 337.74
OPM % 14.66% 18.68% 1.15% 10.03% 5.09% 16.24% 7.57% 13.90% 13.70% 20.76% 10.48% 15.24% 15.32%
169.74 97.20 91.74 50.35 98.11 32.28 52.70 68.30 43.19 7.90 41.94 78.37 29.18
Interest 50.13 57.16 62.30 82.98 94.65 104.25 118.52 109.87 105.88 114.22 106.96 107.64 103.31
Depreciation 147.15 165.16 161.66 166.19 164.43 184.41 173.61 184.51 186.32 196.13 184.55 192.22 196.81
Profit before tax 198.05 272.94 -115.14 -26.26 -73.64 94.89 -107.11 39.56 19.36 227.48 -45.08 120.12 66.80
Tax % 17.51% 25.24% -5.29% 42.19% 22.46% 47.19% -7.96% 87.31% 47.78% 55.48% 96.63% 81.19% 94.49%
163.37 204.06 -109.05 -37.34 -90.18 50.11 -98.58 5.02 10.11 101.27 -88.64 22.59 3.68
EPS in Rs -0.28 -0.68 0.38 -0.75 0.04 0.08 0.77 -0.67 0.17 0.03
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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 8,949
4,887 5,609 6,453 6,974 7,536
Operating Profit 1,428 950 629 1,197 1,414
OPM % 23% 14% 9% 15% 16%
230 319 272 172 157
Interest 163 198 344 448 432
Depreciation 545 586 677 741 770
Profit before tax 949 485 -120 179 369
Tax % 12% 22% 55% 90%
835 376 -186 18 39
EPS in Rs -1.41 0.13 0.30
Dividend Payout % 0% 18% 0% 82%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 9%
TTM: 15%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: -73%
TTM: 252%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 53%
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 Sep 2024
Equity Capital 995 1,186 1,193 1,323 1,323
Reserves 4,610 5,511 5,580 6,588 6,584
3,025 4,128 5,637 4,710 4,786
2,047 1,781 1,893 2,461 2,548
Total Liabilities 10,677 12,605 14,303 15,083 15,242
6,105 6,879 7,469 7,990 8,475
CWIP 627 1,172 1,419 1,116 621
Investments 123 267 639 385 241
3,822 4,286 4,777 5,592 5,905
Total Assets 10,677 12,605 14,303 15,083 15,242

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%

Shareholding Pattern

Numbers in percentages

2 Recently
Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024
34.78% 34.78% 34.78% 35.02% 35.02% 35.02% 34.94% 34.94% 34.94%
41.29% 39.28% 35.01% 32.37% 32.51% 30.58% 31.41% 31.73% 31.68%
5.26% 4.98% 5.48% 8.01% 9.68% 12.12% 12.95% 13.80% 14.09%
18.27% 20.57% 24.32% 24.21% 22.41% 21.89% 20.20% 19.06% 18.85%
0.39% 0.39% 0.39% 0.38% 0.38% 0.37% 0.47% 0.45% 0.40%
No. of Shareholders 2,29,9602,41,3592,77,2703,00,6062,92,3122,97,9963,06,3983,59,7514,18,442

* 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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