Piramal Pharma Navigates Challenges to Pursue FY2030 Milestones
Piramal Pharma reports a decline in quarterly revenue amidst destocking challenges, yet the CDMO business shows growth. Chairperson Nandini Piramal expresses optimism in achieving FY2030 goals of becoming a USD 2 billion company. Company shares experience a slight dip on BSE.
- Country:
- India
Mumbai-based pharmaceutical giant, Piramal Pharma, reported a minor revenue decline for the April-June quarter. The company's revenue decreased to Rs 1,934 crore, down from Rs 1,951 crore in the same period last year, according to a recent regulatory filing.
Excluding destocking effects on a major on-patent product, Piramal's Contract Development and Manufacturing Organization (CDMO) business showed promising growth, achieving mid-teen revenue increases and improved EBITDA margins overseas, as stated by Chairperson Nandini Piramal.
The firm anticipates growth acceleration in its complex hospital generics sector in the year's remainder, despite current headwinds, guiding towards their FY2030 vision of reaching USD 2 billion in revenue and a 25% EBITDA margin. Currently, shares are slightly down at Rs 202.20 on the BSE.
(With inputs from agencies.)
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