Piramal

Piramal Pharma is utilising a capex of about USD 85 million for various initiatives, including capacity expansion, maintenance and de-bottlenecking of CDMO sites, in the current fiscal, according to its Chairperson Nandini Piramal. The Mumbai-headquartered firm, which aims to cross USD 2 billion in revenue by FY30, has already invested around USD 30 million in the first half of the ongoing fiscal on the initiatives. "We expect the capex this year to be at a similar level as last year, which is about USD 85 million," Piramal told PTI in an interaction. A part of the capex is planned for the domestic market while some of it would also go into the US business, she added. "Some part of it, around USD 30 million, is maintenance capex, and the rest would go into capacity expansion in Telangana and Dahej (Gujarat) plants and also towards de-bottlenecking of some of the CDMO sites," Piramal noted. The company last week reported over four-fold increase in consolidated net profit at Rs 23 c

Piramal Pharma on Thursday reported over four-fold increase in consolidated net profit at Rs 23 crore for the second quarter ended September. The Mumbai-based company had reported a net profit of Rs 5 crore in the July-September quarter of last fiscal. Revenue from operations rose to Rs 2,242 crore in the second quarter as compared with Rs 1,911 crore in the year-ago period, Piramal Pharma said in a statement. "We continue our momentum of delivering healthy revenue growth accompanied by YoY EBITDA margin expansion. This has been primarily driven by consistent growth in our CDMO business which has witnessed a good pick-up in innovation-related work and on-patent commercial revenues," Piramal Pharma Chairperson Nandini Piramal said. To sustain this growth momentum and to capitalise on rising demand for sterile fill-finish capabilities, the company has announced a USD 80 million expansion plan at the Lexington facility which is expected to be completed by the FY27 end, she added. "In

Piramal Pharma aims to achieve over $2 billion in revenue by FY30, which implies 2 times growth in revenue compared with FY24

As many as 43.42 million equity shares, representing 3.3 per cent of total equity of the pharma company, had changed hands on the NSE till afternoon

The company said that the acquisition of shares aligns with the promoters' belief in its growth trajectory, further reflecting their trust in the company's business fundamentals

The retail AUM, which accounts for 72 per cent of the total AUM, increased by 43 per cent Y-o-Y to Rs 50,000 crore

Piramal Enterprises on Tuesday reported a 64 per cent decline in its June quarter net profit to Rs 181 crore, impacted because of a higher base due to a one-off item last year. The city-headquartered non-bank lender had reported a consolidated net profit of Rs 509 crore in the year-ago period. Its managing director and chief executive Jairam Sridharan said the year-ago performance included a Rs 850 crore benefit from a stake sale in a Shriram Group entity, and added that the performance has been stable in the reporting quarter this year. The core net interest income grew 18 per cent to Rs 807 crore on the back of a 10 per cent increase in the overall assets under management to Rs 70,576 crore, while the net interest margin narrowed to 6.7 per cent from 7.3 per cent in the year-ago period. Sridharan said disbursements were impacted in the June quarter due to regulatory changes around fair practices but exuded confidence that the company will be able to meet its FY25 target of 15 per

In Q4FY24, Piramal Pharma reported a 102 per cent Year-on-Year (YoY) surge in Profit After Tax (PAT), totaling Rs 101.27 crore

On a sequential basis, the company's profit jumped more than nine-fold

The funding will be utilised to improve Biodeal's infrastructure and production capacity

Piramal Enterprises on Friday said its board has approved a buyback of 1.4 crore shares at Rs 1,250 each, entailing an outgo of Rs 1,750 crore. The company's board has approved a buyback of up to 1.4 crore shares of face value of Rs 2 each, representing 5.87 per cent of the pre-buyback fully paid-up shares at a price of Rs 1,250 each, aggregating to Rs 1,750 crore through the tender offer route, the Mumbai-based company said in a regulatory filing. The promoter and promoter group shall not participate in the buyback, it added.

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Proceeds of the issue will be utilised for payment of debt and general corporate purposes

CDPQ on Friday divested a 0.89 per cent stake in Piramal Pharma Ltd for Rs 100 crore through an open market transaction. Caisse De Depot Et Placement Du Quebec (CDPQ) is a global investment group. According to the bulk deal data available with the National Stock Exchange (NSE), CDPQ offloaded a total of 1,05,70,466 shares, amounting to a 0.89 per cent stake in Piramal Pharma. The shares were sold at an average price of Rs 94.48 apiece, taking the transaction size to Rs 99.86 crore. Post the latest transaction, CDPQ's shareholding has been reduced to 4.64 per cent from 5.53 per cent at March-end. Meanwhile, Vanguard Group acquired more than 62 lakh shares of Piramal Pharma at an average price of Rs 94.71 per share, while other buyer(s) identity is not known. Shares of Piramal Pharma went up 3.04 per cent to close at Rs 94.95 per piece on the NSE. In a separate bulk deal, SmallCap World Fund Inc offloaded more than 7 lakh shares of Aavas Financiers for nearly Rs 96 crore through a

Piramal Critical Care, a part of Piramal Pharma, on Tuesday said it has appointed Jeffrey Hampton as President and Chief Operating Officer (COO). For his new role, Hampton will be based in the United States. He joins the company from Accord Healthcare, where he was President and responsible for accelerating the firm's growth strategy. Before that, he was the Senior Vice President and General Manager at Apotex for the US and Latin America regions. "His experience across the domains of sales and marketing will help us develop stronger, long-term global operations strategies to deliver profitable growth," Piramal Pharma Global Pharma CEO Peter DeYoung said in a statement. His expertise across functions augurs well for the business, as Piramal Critical Care sets its sight to further reinforce its position as a leading global player in complex hospital generics, he added. Piramal Critical Care is a global player in anaesthesia, pain management, and intrathecal therapy. It has a presen

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Piramal Pharma on Thursday reported a net loss of Rs 90 crore on a consolidated basis for the third quarter ended December 31, 2022. The Mumbai-based company had reported a net profit of Rs 163 crore in the October-December quarter of last fiscal. Revenue from operations stood at Rs 1,716 crore for the third quarter, while the same was at Rs 1,539 crore in the year-ago period. The company said the third quarter results were not comparable to the same period last year as the NCLT in August 12, 2022 approved the composite scheme of demerger of the pharma business from Piramal Enterprises Ltd (PEL) into Piramal Pharma Ltd. The NCLT also approved amalgamation of Piramal Pharma's wholly-owned subsidiaries Hemmo Pharmaceuticals and Convergence Chemical into itself with an appointed date of April 1, 2022. Accordingly, the financial statements of Piramal Pharma have been prepared giving effect to the scheme from April 1, 2022. "Based on our recent increase in customer engagements and ...

This is the first time that an e-auction of this scale would take place for a debt resolution under the Insolvency and Bankruptcy Code, 2016

"Lenders will decide on the further course of action, including the stance for negotiations on Friday," the source said

While Deloitte, the process advisor to RCap's administrator, is said to be rooting for liquidation, CoC advisor KPMG hopes to close deal and award the firm to highest bidder