Piramal Pharma (PPLPHARMA) Q4 24/25 earnings summary

Executive summary

• Achieved 12% year-over-year revenue growth in FY25, reaching $1 billion (₹9,151 crore), led by 15% CDMO growth and strong consumer healthcare and complex hospital generics performance.

• Net profit after tax for FY25 rose over 5x to ₹323.51 crore, with Q4 net profit at ₹153.50 crore, up 52% year-over-year.

• Q4FY25 delivered 8% revenue growth, 22% EBITDA margin, and the Board recommended a ₹0.14 per share dividend.

• CDMO innovation-related work comprised 54% of segment revenue, with differentiated offerings at 49%.

• Maintained U.S. market leadership in sevoflurane (44%) and intrathecal baclofen (75%).

Financial highlights

• FY25 EBITDA margin was 17%, with EBITDA up 15% year-over-year to ₹1,580 crore.

• Net profit after tax for FY25 was ₹323.51 crore, up from ₹161.47 crore in FY24.

• Net debt-to-EBITDA improved to 2.7x in FY25 from 5.6x in FY23.

• Q4 net profit after tax exceeded ₹150 crore, up 52% year-over-year.

• Basic and diluted EPS for FY25 stood at ₹0.69, compared to ₹0.14 in FY24.

Outlook and guidance

• FY2026 expected to see mid-single-digit consolidated revenue growth and mid-teen EBITDA margin due to temporary inventory normalization by a major CDMO customer.

• Significant recovery anticipated in FY2027, with mid-to-high-teen revenue growth and EBITDA margin improving to 19-20%.

• Long-term goal to reach $2 billion revenue and 25% EBITDA margin by FY2030.

• Plans to reduce net debt-to-EBITDA to ~1x and enhance ROCE to high teens by FY2030.