By
New Update
/connect-gujarat-english/media/media_files/GNnaaBeoj0n5zBQBETGf.jpeg)
Follow Us
Pharmaceutical firm Piramal Pharma is aiming to double its revenue to $2 billion by 2029-30.
At the same time, the earnings before interest, depreciation, and amortisation (Ebitda) would triple, and the company aims to bring down its net debt to Ebitda levels to 1x by FY30 from the current 2.9x.
Piramal Pharma stock ended the day’s trade at Rs 227 apiece on BSE, up 4.75 per cent, after rising by 9 per cent in intraday trade.
Nandini Piramal, chairperson, Piramal Pharma, told reporters today that they aim to become a $1.2 billion contract development and manufacturing organisation (CDMO) with a 25 per cent Ebitda margin by FY30.
At the same time, the critical care business vertical is targeting a topline of $600 million with a 25 per cent Ebitda margin by FY30, and the consumer healthcare business would reach a turnover of $200 million by then with double-digit Ebitda margins.
She also clarified that they would not be raising funds through the equity route, but they would fund expansions and investments through a mix of debt and internal accruals.
At the moment, Piramal Pharma has a 17 per cent Ebitda margin and net debt of Rs 4,000 crore as of 2023-24.
Piramal said that over the next five years, Piramal Pharma aims to double its CDMO revenues, growing at twice the market rate of 6-7 per cent, driven by differentiated offerings, cross-selling, as well as integrated services.
The CDMO business now contributes 58 per cent to Piramal Pharma’s topline, while 12 per cent comes from the India consumer health business, and 32 per cent comes from the complex hospital generics business.
Latest Stories