Piramal Pharma Limited Announces Consolidated Results for Q2 & H1 FY2023.

MUMBAI, India: Piramal Pharma Limited (NSE: PPLPHARMA) (BSE: 543635), a leading global pharmaceuticals company, today announced its consolidated results for the Second Quarter (Q2) and Half Year (H1) ended 30th September 2022.

Consolidated Financial Highlights

(In INR Crores)

Particulars

Quarterly

Q2FY23

Q2FY22

YoY Growth

Q1FY23

QoQ Growth

Revenue from Operation

1,720

1,578

9 %

1,482

16 %

CDMO

940

886

6 %

770

22 %

Complex Hospital Generic

562

500

12 %

508

11 %

India Consumer Healthcare

227

192

18 %

211

7 %

EBITDA

219

214

2 %

89

146 %

EBITDA Margin (%)

13 %

14 %

6 %

PAT

-37

37

-109

Note: The previous year (FY22) financials do not include non-common control

transactions and hence YoY financials are not strictly comparable. Also, Q1FY23

includes one-time, non-recurring impact of inventory margin, hence QoQ

financials are also not strictly comparable. Please refer to pages 3 and 4 for

detailed explanation and comparable financials.

Key Highlights for H1FY23

Revenue from Operation grew by 11% to INR 3,202 Cr. versus INR 2,889 Cr. in H1FY22

CDMO business grew by 12% YoY

Complex Hospital Generic business grew by 11% YoY

India Consumer Healthcare business grew by 12% YoY

Normalized EBITDA in H1FY23 was INR 376 Cr. with EBITDA margin of 12%

Capital Expenditure for H1FY23 was INR 427 Cr.

Successfully cleared 22 regulatory inspections and 111 customer audits in H1FY23

Released Piramal Pharma Sustainability Report FY 2021-22

Nandini Piramal, Chairperson, Piramal Pharma Limited said, "We announce our first results post demerger as an independent and focused pharma company. Over the last 10 years, we have made several strategic choices that have helped nurture and scale our business and establish Piramal Pharma (PPL) as a leading global pharmaceuticals player.

For the quarter and half year ended September 2022, our business has delivered a resilient performance despite multiple internal and external challenges. We expect to deliver a much improved performance in second half of the current financial year. Historically we have had a greater skew of sales and profits in the second half of the year and this year is no different.

We have a vision to grow all our businesses to significant scale over the medium term and have strong growth levers in place for each of them. We continue to make investments to drive growth in these businesses."

Key Business Highlights for Q2 and H1 FY2023

Contract Development and Manufacturing Organization (CDMO):

Witnessing continued strong inflows of Request for Proposal (RFP) and increase in customer audits, however experiencing slower decision making by the customers due to macro-economic pressures

Undertaking judicious price increases, cost optimization and operational excellence measures to offset inflationary pressures

Maintaining our best-in-class quality track record - successfully cleared over 20 regulatory inspections and over 100 customer audits in H1FY23

Executing growth CAPEX as per plan - have already announced growth CAPEX of $157mn to be completed over the next 18-24 months

Developing alternate vendors and building resilient supply...