Piramal Pharma Invests $85M to Fuel Growth, Eyes $2B Revenue by FY30

27 Oct 2024 , 05:05 PM

Piramal Pharma plans a capital expenditure of $85 million for FY25, focusing on capacity expansion, maintenance, and de-bottlenecking of CDMO (Contract Development and Manufacturing Organization) sites, as shared by Chairperson Nandini Piramal.

Approximately $30 million has already been allocated to these initiatives in the first half of the current fiscal. The company expects this year’s capex to match last year’s, which was also about $85 million.

Investments will target both domestic and US markets, with a split allocation for maintenance and capacity expansion in key plants in Telangana and Dahej, Gujarat. Piramal Pharma Solutions (PPS) is set to invest $80 million in expanding its sterile injectables facility in Lexington, Kentucky, USA, projected for completion by FY27.

The company reported a four-fold increase in consolidated net profit to ₹23 Crore for Q2 FY25, with revenue rising to ₹2,242 Crore from ₹1,911 Crore YoY.

Aiming for $2 billion in revenue by FY30, Piramal Pharma targets its CDMO vertical to reach $1.2 billion and critical care and consumer healthcare to hit $600 million and $200 million, respectively, over the next five years. The company continues to explore inorganic growth to support its revenue goals.

Piramal Pharma includes Piramal Pharma Solutions (PPS), Piramal Critical Care (PCC), and the India Consumer Healthcare segment focused on over-the-counter products.