R Subramaniakumar was initially appointed for a period of three years as MD and CEO of the bank in June 2022
Piramal Pharma on Friday said it will pay USD 407,400 to US-based VetDC, Inc to settle a dispute over rejected batches of a product. Piramal Pharma Solutions Inc, a unit of the company, and VetDC, Inc have entered into a settlement agreement for an amount of USD 407,400, the drug maker said in a regulatory filing. VetDC had claimed damages on account of rejection of certain batches of product manufactured and supplied by Piramal Pharma Solutions Inc. "While the company continues to believe that its legal stand is appropriate against claims made by VetDC and maintains that it has defence to VetDC's claims of liabilities and damages, in order to solely avoid continued legal costs and uncertainties of protracted litigation, the Company and VetDC have both decided to settle," Piramal Pharma said. The company shall have no responsibility for any other costs beyond the amount of USD 407,400, it added. "This settlement will not have a significant impact on the financial position of the .
Till 12:35 pm; a combined 32.3 million shares representing 2.43 per cent of total equity of PPL changed hands on the NSE and BSE.
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's company's revenue for the quarter under review stood at Rs 2,242 crore as compared to Rs 1,911 crore which implies an increase of 17 per cent Y-o-Y
Eyeing tripling of Ebitda and bringing down net debt during the same period
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
Piramal Pharma Ltd on Friday reported a narrowing of consolidated net loss at Rs 88.64 crore in the first quarter that ended June 30, 2024, on the back of higher sales. The company had posted a consolidated net loss of Rs 98.58 crore in the same quarter last fiscal, Piramal Pharma said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 1,951.14 crore as compared to Rs 1,748.85 crore in the year-ago period, the company added. Total expenses in the first quarter were higher at Rs 2,038.16 crore as compared to Rs 1,908.66 crore in the same period a year ago. "We have had a good start to the financial year with a steady all-round performance...," Piramal Pharma Chairperson Nandini Piramal said. The company's CDMO (Contract Development and Manufacturing Organisation) business continues to witness sustained order inflows, especially for on-patent commercial manufacturing, she added. "We are also seeing good demand for our differentiate
Pharma to financial services conglomerate Piramal Group has denied any data breach in its system. A hacker on dark web last week claimed to be allegedly selling a database belonging to Piramal Group. When contacted, a Piramal spokesperson denied the claim. "We can confirm that there has been no data breach at Piramal Group. The suspicious activity on the dark web was evaluated and confirmed by our cybersecurity team as a false claim," the spokesperson said. The spokesperson said that as per the group's investigation, the sample data shared has no relevance to the group. "As per our investigation, the sample data shared is not Piramal Organization data and has no relevance to us. On further investigation, we have also found that the information in question seems to have originated from a third-party platform, Mailinator and not any of the systems at Piramal. Mailinator is not associated with Piramal Group in any form," the spokesperson said. Piramal Group has also shared the same
Shares of Piramal Pharma rose 3.51 per cent, reaching their 52-week high at Rs 172.10 per share on the BSE in Friday''s intraday trade
In 2016, Reliance Ethane had raised a loan of $572 million with a 12-year tenor to purchase six new ethane carriers
Piramal said that they are focusing on organic growth across all their verticals - OTC business in India, complex hospital generics, and the Contract Development and Manufacturing (CDMO) business
The assets under management of Annapurna Finance exceed $1.25 billion as of March 31, 2024, with 1,372 branches spread across 20 states and covering nearly 450 districts
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
On a sequential basis, the company exhibited a 2.47 percent increase in revenue whereas the PAT declined by 51.07 percent
During the quarter, the group made a regulatory provision of Rs 3,540 crore with regard to its investments in AIFs as per the Reserve Bank of India's (RBI) mandate
As per the RBI's direction, regulated entities must liquidate their investments in AIFs within 30 days should the fund invest in an existing borrower
Company's Ebitda grows 44% year-on-year, Chairperson Nandini Piramal anticipates a stronger financial performance in H2