Piramal Pharma (PPLPHARMA) Q2 24/25 earnings summary

Executive summary

• Achieved 17% year-on-year revenue growth in Q2FY25, with consolidated revenue at ₹2,241.75 crore and total income at ₹2,302.86 crore, driven by strong performance across all business segments.

• EBITDA margin expanded by 150 basis points year-on-year to 18% in Q2FY25, supported by operating leverage and cost optimization.

• Net profit after tax for Q2 FY25 was ₹22.59 crore, compared to a net loss of ₹93.56 crore in Q2 FY24.

• All business verticals—CDMO, Complex Hospital Generics (CHG), and India Consumer Healthcare (ICH)—delivered robust growth, with ICH power brands growing 18% and contributing 48% of sales.

• Released FY2024 Sustainability Report, aligning with global standards and committing to greenhouse gas reduction.

Financial highlights

• Q2FY25 revenue from operations was ₹2,242 crore, up 17% year-on-year; H1FY25 revenue was ₹4,193 crore, up 15% year-on-year.

• Q2FY25 EBITDA was ₹403 crore, up 28% year-on-year; H1FY25 EBITDA was ₹627 crore, up 29% year-on-year.

• PAT improved to ₹23 crore in Q2FY25 from ₹5 crore in Q2FY24; PAT margin improved to 1% in Q2FY25 from 0% in Q2FY24.

• Net debt reduced to ₹3,932 crore as of September 30, 2024, from ₹4,235 crore as of March 31, 2024.

• Online sales in ICH grew over 30% year-on-year in H1, now making up 20% of ICH sales.

Outlook and guidance

• Strategic goal to achieve over $2 billion in revenue, 25% EBITDA margin, and 1x net debt-to-EBITDA by FY2030.

• Plans to more than double revenues and triple EBITDA by FY2030, with early teens PAT margins and high teens ROCE.

• H2 EBITDA expected to be higher than H1, with Q4 typically the largest quarter.

• Management and auditors confirm compliance with Indian Accounting Standards and regulatory requirements.