- 25 Sep 2024
- ICICI Securities
PIRAMAL PHARMA ANALYST MEET TAKEAWAYS
News: Piramal pharma in Analyst meet has guided for its FY2030 targets where it envisages to double its revenue(overall and in each segment) and achieve USD 2 Billion sales with 25% + Ebitda Margins. By FY2030 company expects CDMO space to clock USD 1.2 Billion revenue with around 25% Ebitda margins, Complex Hospital generics to reach USD 600 Million revenues with 25%+ Ebitda margins and Indian consumer healthcare portfolio to aspire USD 200 Million revenue with double digit Ebitda Margins. Management has also guided to target Net debt/Ebitda of 1x and ROCE in High teens by FY2030.
Views: The company for the first time has given long term guidance on an open forum breaking it segment wise. This is mainly organic growth guidance based on global capacities and capabilities ( excluding some licensing requirements). The guidance also excludes potential windfall from the implications of Biosecure Act. The core of the guidance is based on offering or differentiated services, offering vertically integrated model and a tilt towards innovation related offerings. We believe the guidance is measured with scope for positive surprises.
Impact: Positive