Piramal Pharma (PPLPHARMA) Q4 21/22 earnings summary

Executive summary

• FY22 consolidated revenue was ₹6,559.10 crore; consolidated net profit after tax and associates was ₹375.96 crore, with Pharma cited as the main revenue-growth driver. FY21 comparatives cover 13 months.

• Standalone total income reached ₹3,318.54 crore, while EBITDA fell to ₹620.89 crore and net profit to ₹343.05 crore.

Financial highlights

• Consolidated EBITDA was ₹1,225.46 crore versus ₹1,592.07 crore; PBT was ₹441.03 crore versus ₹883.58 crore, with FY21 covering 13 months.

• Consolidated net profit after tax and associates was ₹375.96 crore versus ₹835.03 crore; net profit margin was 5.73% versus 13.22%.

• Standalone revenue from operations was ₹3,094.95 crore and total income ₹3,318.54 crore; net profit was ₹343.05 crore versus ₹571.50 crore.

• Standalone basic and diluted EPS was ₹2.91; prior-period EPS was ₹9.11 and was restated for the FY22 bonus issue.

Outlook and guidance

• The proposed Pharma Business demerger and related amalgamations remained subject to shareholder, creditor and regulatory approvals; NCLT ordered creditor and shareholder meetings for PEL in May 2022.

• Management said strategies would focus on strengthening financial performance; audited statements assessed resources as adequate for continued operations, while noting COVID-19 uncertainty.