Fintech PR
Piramal Pharma Limited Announces Results for Q2 and H1 FY25
MUMBAI, India, Oct. 23, 2024 /PRNewswire/ — Piramal Pharma Limited (NSE: PPLPHARMA) (BSE: 543635), a leading global pharmaceuticals and wellness company, today announced its standalone and consolidated results for the Second Quarter (Q2) and Half Year (H1) ended 30th September 2024.
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Consolidated Financial Highlights |
||||||
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(in ₹ Cr. or as stated) |
||||||
|
Particulars |
Q2FY25 |
Q2FY24 |
YoY |
H1FY25 |
H1FY24  |
YoY |
|
Revenue from Operations |
2,242 |
1,911 |
17 % |
4,193 |
3,660 |
15 % |
|
CDMO |
1,324 |
1,068 |
24 % |
2,381 |
1,967 |
21 % |
|
CHG |
643 |
589 |
9 % |
1,274 |
1,206 |
6 % |
|
ICH |
277 |
256 |
8 % |
541 |
495 |
9 % |
|
EBITDA |
403 |
315 |
28 % |
627 |
485 |
29 % |
|
EBITDA Margin |
18 % |
16 % |
– |
15 % |
13 % |
– |
|
Share of Net Profit of Associates |
17 |
19 |
(10) % |
40 |
33 |
18 % |
|
PAT |
23 |
5 |
350 % |
(66) |
(94) |
NM |
|
PAT Margin |
1 % |
0 % |
– |
(2) % |
(3) % |
– |
Key Highlights for Q2FY25
- Revenue from Operations grew by 17% YoY, primarily driven by robust growth in CDMO business
- EBITDA grew by 28% YoY with EBITDA margin of 18%, a YoY improvement of about 150bps, driven by operating leverage, cost optimization initiatives and superior revenue mix
- Released our FY2024 Sustainability Report. The report follows GRI standards and is aligned with SASSB and UNGC frameworks. It also highlights our commitment to reduce our GHG1 emissions in-line with SBTi’s2 1.5o decarbonization pathway
Nandini Piramal, Chairperson, Piramal Pharma Limited said, “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. To sustain this growth momentum and to capitalize on rising demand for sterile fill-finish capabilities, we have announced a US$80Mn expansion plan at our Lexington facility which is expected to get complete by end FY27. In our CHG business, we are witnessing steady volume growth in Inhalation Anesthesia products in the US and Emerging Markets. In our ICH business, we continue to see a robust growth in our power brands and e-commerce sales.
During the quarter, we released our Sustainability Report for FY24 under the theme, ‘Building Resilience for a Sustainable Tomorrow’, highlighting our progress on the sustainability initiatives.
Over the long term, we remain committed to achieving our financial goals of US$2 bn revenue with 25% EBITDA margin and 1x net debt / EBITDA by FY30.”
1. Green House Gas; 2. Science Based Target initiative
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Key Business Highlights for Q2 and H1 FY25 |
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Contract Development and Manufacturing Organization (CDMO): – Market outlook – Biotech funding improved over previous years but remains uneven across months. Regulatory changes and supply chain diversification driving increase in customer enquiries and visits, but decision making by customers remains delayed – Targeted Business Development efforts resulting in steady inflow of new orders – YoY improvement in demand in our generic API business – Operating leverage and cost optimization initiatives yielding continued YoY improvement in EBITDA margins – Maintained our quality track record with receipt of EIR for our PPDS facility (India) with Zero Form – 483 observations and NAI designation – Customer led US$80Mn expansion planed in Lexington to more than double our capacity to capture rising demand for Sterile Fill-Finish capabilities
Complex Hospital Generics (CHG): – Good volume growth in inhalation anesthesia portfolio in the US and emerging markets – Capacity expansion at Dahej and Digwal underway to capture growth opportunity in the RoW markets – Investing in portfolio expansion – Building portfolio of Differentiated and Specialty products to drive long term profitable growth – Working on multiple cost optimization and productivity enhancement initiatives in the areas of sourcing, manufacturing, distribution, and operational excellence to maintain our healthy EBITDA margin in this business
India Consumer Healthcare (ICH): – Added 9 new products and 13 new SKUs to our portfolio during H1FY25 – Continue to invest in media and trade spends to drive growth in Power Brands. Power Brands grew by 18% YoY in Q2 and H1 FY25 and contributed to 48% of ICH sales – Growth in i-range adversely impacted due to regulator mandated price reductions – E-commerce grew by over 30% YoY in Q2 and H1 FY25. Focus on improving the profitability of this channel through pricing, mix and investment optimization – Plan to widen our reach – Transition from a Pharmacy-dominant to an Omni-channel consumer healthcare company. Establish winning NPDs from online channel to offline, with general trade and modern trade ready SKUs
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Consolidated Profit and Loss Statement |
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(in ₹ Cr. or as stated) |
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Particulars |
Quarterly |
Half Yearly |
||||||
|
Q2FY25 |
Q2FY24 |
YoY |
Q1FY25 |
QoQ Change |
H1FY25 |
H1FY24 |
YoY |
|
|
Revenue from Operations |
2,242 |
1,911 |
17 % |
1,951 |
15 % |
4,193 |
3,660 |
15 % |
|
Other Income |
61 |
49 |
24 % |
20 |
213 % |
81 |
88 |
(8) % |
|
Total Income |
2,303 |
1,961 |
17 % |
1,971 |
17 % |
4,274 |
3,748 |
14 % |
|
Material Cost |
796 |
638 |
25 % |
674 |
18 % |
1,471 |
1,264 |
16 % |
|
Employee Expenses |
560 |
516 |
8 % |
580 |
(3) % |
1,139 |
1,012 |
13 % |
|
Other Expenses |
544 |
492 |
11 % |
493 |
10 % |
1,037 |
986 |
5 % |
|
EBITDA |
403 |
315 |
28 % |
224 |
80 % |
627 |
485 |
29 % |
|
Interest Expenses |
108 |
110 |
(2) % |
107 |
1 % |
215 |
228 |
(6) % |
|
Depreciation |
192 |
185 |
4 % |
185 |
4 % |
377 |
358 |
5 % |
|
Share of Net Profit of Associates |
17 |
19 |
(10) % |
22 |
(23) % |
40 |
33 |
18 % |
|
Profit Before Tax |
120 |
40 |
204 % |
(45) |
NM |
75 |
(68) |
NM |
|
Tax |
98 |
35 |
182 % |
44 |
124 % |
141 |
26 |
442 % |
|
Net Profit after Tax |
23 |
5 |
350 % |
(89) |
NM |
(66) |
(94) |
NM |
|
Exceptional item |
– |
– |
– |
– |
– |
– |
– |
– |
|
Net Profit after Tax after Exceptional Item |
23 |
5 |
350 % |
(89) |
NM |
(66) |
(94) |
NM |
|
Consolidated Balance Sheet |
||
|
(in ₹ Cr. or as stated) |
||
|
Key Balance Sheet Items |
As at |
|
|
30-Sep-24 |
31-Mar-24 |
|
|
Total Equity |
7,907 |
7,911 |
|
Net Debt |
4,235 |
3,932 |
|
Total |
12,143 |
11,843 |
|
Net Fixed Assets |
9,096 |
9,106 |
|
Tangible Assets |
4,298 |
4,250 |
|
Intangible Assets including goodwill |
3,669 |
3,740 |
|
CWIP (including IAUD*) |
1,130 |
1,116 |
|
Net Working Capital |
2,651 |
2,339 |
|
Other Assets# |
396 |
398 |
|
Total Assets |
12,143 |
11,843 |
|
*IAUD – Intangible Assets Under Development; # Other Assets include Investments and Deferred Tax Assets (Net) |
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Q2FY25/H1FY25 Earnings Conference Call
Piramal Pharma Limited will be hosting a conference call for investors / analysts on 24th October 2024 from 5:00 PM to 5:45 PM (IST) to discuss its Q2 and H1 FY25 Results.
The dial-in details for the call are as under:
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Event |
Location & Time |
Telephone Number |
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Conference call on |
India – 05:00 PM IST |
+91 22 6280 1461 / +91 22 7115 8320 (Primary Number) |
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1 800 120 1221 (Toll free number) |
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USA – 07:30 AM (Eastern Time – New York) |
Toll free number 18667462133 |
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UK – 12:30 PM (London Time) |
Toll free number 08081011573 |
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Singapore – 07:30 PM (Singapore Time) |
Toll free number 8001012045 |
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Hong Kong – 07:30 PM (Hong Kong Time) |
Toll free number 800964448 |
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Express Join with Diamond Pass™ |
Please use this link for prior registration to reduce wait time at the time of joining the call – Click Here |
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About Piramal Pharma Limited:
Piramal Pharma Limited (PPL, NSE: PPLPHARMA I BSE: 543635), offers a portfolio of differentiated products and services through its 17* global development and manufacturing facilities and a global distribution network in over 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated contract development and manufacturing organization; Piramal Critical Care (PCC), a complex hospital generics business; and the India Consumer Healthcare business, selling over-the-counter consumer and wellness products. In addition, one of PPL’s associate companies, Abbvie Therapeutics India Private Limited, a joint venture between Abbvie and PPL, has emerged as one of the market leaders in the ophthalmology therapy area in the Indian pharma market. Further, PPL has a strategic minority investment in Yapan Bio Private Limited, that operates in the biologics / bio-therapeutics and vaccine segments. In October 2020, PPL received a 20% strategic growth investment from the Carlyle Group.
For more information, visit: Piramal Pharma | LinkedIn
* Includes one facility via PPL’s minority investment in Yapan Bio
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View original content:https://www.prnewswire.co.uk/news-releases/piramal-pharma-limited-announces-results-for-q2-and-h1-fy25-302284959.html
TAIPEI, Dec. 26, 2024 /PRNewswire/ — VIVOTEK (3454-TW), the global leading security solution provider, has once again demonstrated its outstanding commitment to sustainability. Participating for the first time in the 17th Taiwan Corporate Sustainability Awards (TCSA), VIVOTEK emerged victorious, earning the Sustainability Report Award for the Information, Communication, and Broadcasting Industry and the Taiwan Corporate Sustainability Excellence Award. These recognitions showcase VIVOTEK’s remarkable success in corporate governance, environmental protection, and social responsibility, affirming its dedication to sustainable growth.
Pioneering Sustainability with Dual Recognition
“For over seven years, VIVOTEK has independently published sustainability reports, actively driving and disclosing our internal sustainability initiatives.” said Allen Hsieh, VIVOTEK’s Spokesperson and Director of the Global Marketing Division. “These awards not only recognize our integrity and efforts in presenting operational performance, environmental data, and social impact but also serve as a strong motivation for us to continue advancing on the path of sustainable development.”
Driving Sustainability through AI Innovation
VIVOTEK delivers advanced AI-powered security solutions built on cutting-edge AI and edge computing technologies. Beyond innovation, the company drives green initiatives, reduces its carbon footprint, and fosters a sustainable, supportive workplace.
Committed to social responsibility, VIVOTEK leads the security industry’s sustainability efforts through its ‘Safety Map’ initiative. For four years, employees have formed security teams to enhance safety in neighborhoods, care centers, and schools with on-site assessments and improvement plans.
In 2024, VIVOTEK will expand its efforts to Hualien’s Dacheng Village, where it will help improve local safety environments and support cultural preservation and tourism revitalization. These actions reflect its dedication to sustainability, community well-being, and lasting societal contributions.
Security Sustainability as a Foundation for Social Impact
VIVOTEK proudly received two prestigious honors at the Taiwan Corporate Sustainability Awards, highlighting its dedication to sustainable practices. These accolades inspire the company to deepen its internal efforts and mark the start of an exciting new chapter.
Building on this achievement, VIVOTEK aims to strengthen its mission of becoming the world’s most trusted smart security brand. By aligning with global market needs and fostering collaboration with customers, partners, and employees, VIVOTEK is committed to shaping a sustainable future founded on mutual trust and shared success.
To learn more about VIVOTEK’s sustainability initiatives, please refer to the 2023 Sustainability Report.
View original content:https://www.prnewswire.co.uk/news-releases/vivotek-wins-double-honors-for-its-commitment-to-sustainability-302339223.html
Fintech PR
2024 Global Youth Design Contest on Chinese Characters Themed “Guiyang in Characters” Successfully Concluded
GUIYANG, China, Dec. 26, 2024 /PRNewswire/ — To fully implement the spirit of “carrying forward China’s cultural heritage” and “promoting the creative transformation and innovative development of fine traditional Chinese culture”, the 2024 Global Youth Design Contest on Chinese Characters Themed “Guiyang in Characters”, organized by the Publicity Department of the CPC Guiyang Municipal Committee and hosted by www.huanqiu.com, has successfully concluded on Dec.16. The contest drew thousands of teenagers from both China and abroad, who used cultural empowerment and innovative designs of Chinese characters to narrate and promote Guiyang.
At the “Colorful Guizhou • Literary Plateau” Farming and Reading Event, 59 outstanding works from 26 countries, along with 21 representative pieces from various countries and regions, were showcased. According to the organizing committee of the Global Youth Design Contest on Chinese Characters, “This exhibition serves as both a lasting commemoration of the event and a report to all those who care about the inheritance and promotion of Guiyang and Chinese culture.”
In their submissions, the teenagers selected Chinese characters or phrases they believed best represented Guiyang and reimagined them through innovative designs. Outstanding designs incorporated Guiyang’s iconic architecture and cultural landmarks into Chinese characters to present the city’s urban landscape and historical culture. Some works spotlighted Guiyang’s distinctive cuisine, offering a glimpse into the vibrant and diverse local culinary culture. Some other designs drew inspiration from martial arts villages in Guizhou and featured dragon motifs to symbolize the depth and vitality of Guizhou culture.
Saison from Tajikistan was among the participants in this year’s Global Youth Design Contest on Chinese Characters. Speaking about his design of the Chinese characters, he shared that his design sought to merge the beauty of Chinese characters with the charm of Guiyang. “Guiyang is a captivating place, known for its beautiful scenery, delicious food, and diverse ethnic minorities. I tried to incorporate the beauty of Guiyang into my Chinese character design, hoping to convey the city’s charm and the wonders of Chinese characters through my work.”
The contest officially opened for submissions on September 30. In an effort to boost public engagement and participation, a “cheerleading campaign” was organized for shortlisted works from November 22 to 29. Following expert reviews, 80 outstanding works were ultimately selected for public exhibition.
Photo – https://mma.prnewswire.com/media/2587793/image_5002696_33228126.jpg
View original content:https://www.prnewswire.co.uk/news-releases/2024-global-youth-design-contest-on-chinese-characters-themed-guiyang-in-characters-successfully-concluded-302339323.html
Fintech PR
Markets Show Resilience Ahead of End-of-Year Options Expirations: Bybit x Block Scholes Crypto Derivatives Report
DUBAI, UAE, Dec. 26, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, released the latest Crypto Derivatives Analytics Report in collaboration with Block Scholes, highlighting the muted market volatility despite major options expirations on Friday. BTC and ETH’s realized volatility has increased, but short-term options haven’t adjusted to this change. This indicates that while spot prices are fluctuating, the options market is not fully reacting to these shifts, although BTC and ETH volumes have displayed slightly different patterns.
With more than $525 million in BTC and ETH options contracts expiring on Dec 27, 2024’s end-of-year options expiration looks set to be one of the biggest yet, yet expectations for volatility have remained subdued. The report highlights an unusual inversion in ETH’s volatility structure, but BTC has not mirrored the reaction. Additionally, a change in funding rates—sometimes turning negative as spot prices drop—signals a new market phase. Notably, BTC’s volatility structure has been less responsive to changes in spot prices, whereas ETH’s short-term options are exhibiting more noticeable fluctuations.
Key Findings:
BTC Options Expirations:
In the past month, BTC’s realized volatility has been higher than implied volatility on three occasions, each time reaching a relatively calm equilibrium. Open interest in BTC options remains high, contributing to potential increased volatility as we near the end of the year. Around $360 million worth of BTC options (both puts and calls) are set to expire soon, which can affect price movement.
ETH Options: Calls Dominate
Despite a mid-week inversion, ETH’s volatility term structure has flattened, maintaining levels similar to those seen over the past month. In the final week of 2024, calls overwhelmed puts in open interest in ETH options, although market movements and trading activities are more on the put side.
Access the Full Report:
Gain deeper insights and explore the potential impacts on your crypto trading strategies by downloading the full report here: Bybit X Block Scholes Crypto Derivatives Analytics Report (Dec 24, 2024)
#Bybit / #BybitResearch
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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Photo – https://mma.prnewswire.com/media/2587821/Sources_Bybit_Block_Scholes.jpg
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View original content:https://www.prnewswire.co.uk/news-releases/markets-show-resilience-ahead-of-end-of-year-options-expirations-bybit-x-block-scholes-crypto-derivatives-report-302339299.html
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