The shares of this pharmaceutical company gained up to 4.4 percent after the company announced the expansion of its application delivery controller (ADC) capabilities at the manufacturing facility of Piramal Healthcare UK Ltd.
With a market capitalization of Rs 17,330.62 Crores, The shares of Piramal Pharma Ltd were trading at Rs 131.00 a share, an increase of 3.39 percent from the previous closing price of Rs 126.70 a share.
According to the exchange filing, Piramal Pharma Ltd announced the expansion of its application delivery controller (ADC) capabilities at the manufacturing facility of Piramal Healthcare UK Ltd, a wholly-owned subsidiary of the company, at Grangemouth, Scotland.
In addition to the above paragraph, the company’s multipurpose state-of-the-art Antibody-Drug Conjugate (ADC) manufacturing facility expands capacity by approximately 70-80 percent. This facility represents the culmination of a £45m investment to address the rapidly growing demand for ADC manufacturing by a £2.4m Scottish Enterprise grant.
In the United States, Piramal Pharma Ltd. holds a dominant 76% share of the pre-filled buprofen syringe market. The company also began increasing the capacity of its peptide facility in Turbhe, India, and its Riverview facility in the US during the fiscal year.
Furthermore, the company introduced 28 new product pipeline which is under various stage of development with an addressable market size of over $2bn. Piramal Pharma Ltd has a distribution network in more than 100 countries across the globe.
Piramal Pharma Ltd’s revenue increased by 11 percent from Rs 1,720.01 Crore in Q2FY23 to 1,911.38 Crore in Q2FY24. During the same period, net profits increased by 113 percent from a loss of Rs 37.34 Crore to a profit of Rs 5.02 Crore.
The company’s capital expenditure is Rs 965 crore for the expansion of facilities that are in high demand such as Riverview, Grangemouth, Trubhe, and Ahmedabad.
When it comes to revenue from the geographic segment, the company’s revenue in India increased by 17.5%, from Rs 1,225.55 crore in FY2021–22 to Rs 1,444.49 crores in FY2022–23, while revenue from outside of India increased by 5.6 percent from Rs 5,333.55 crore in FY2021-22 to Rs 5,637 crore in FY2022-23.
Piramal Pharma Ltd. provides complete development and manufacturing solutions throughout the drug life cycle, The company is a Contract Development and Manufacturing Organization (CDMO).
Written by:- Abhishek Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
