Piramal

Piramal Pharma on Thursday reported a net loss of Rs 90 crore on a consolidated basis for the third quarter ended December 31, 2022. The Mumbai-based company had reported a net profit of Rs 163 crore in the October-December quarter of last fiscal. Revenue from operations stood at Rs 1,716 crore for the third quarter, while the same was at Rs 1,539 crore in the year-ago period. The company said the third quarter results were not comparable to the same period last year as the NCLT in August 12, 2022 approved the composite scheme of demerger of the pharma business from Piramal Enterprises Ltd (PEL) into Piramal Pharma Ltd. The NCLT also approved amalgamation of Piramal Pharma's wholly-owned subsidiaries Hemmo Pharmaceuticals and Convergence Chemical into itself with an appointed date of April 1, 2022. Accordingly, the financial statements of Piramal Pharma have been prepared giving effect to the scheme from April 1, 2022. "Based on our recent increase in customer engagements and ...

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Piramal Pharma on Wednesday reported a consolidated net loss of Rs 37 crore for the second quarter ended September, as against a net profit of Rs 37 crore in the year-ago period. However, the company's revenue from operations grew to Rs 1,720 crore during the July-September quarter, from Rs 1,578 crore in the corresponding period of the previous fiscal. Nandini Piramal, Chairperson, Piramal Pharma Limited said, "We announce our first results post demerger as an independent and focused pharma company. Over the last 10 years, we have made several strategic choices that have helped nurture and scale our business and establish Piramal Pharma (PPL) as a leading global pharmaceuticals player." "For the quarter and half year ended September 2022, our business has delivered a resilient performance despite multiple internal and external challenges. We expect to deliver a much improved performance in the second half of the current financial year," she added. The National Company Law Tribunal

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The company was listed separately on October 19, following its demerger from Piramal Enterprises

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Piramal Enterprises Ltd on Friday reported an 8.95 per cent decline in consolidated net profit to Rs 485.98 crore for the first quarter ended June 30, impacted by higher expenses. The company had posted a consolidated net profit of Rs 533.79 crore in the same period last fiscal, Piramal Enterprises Ltd (PEL) said in a regulatory filing. Its revenue from operations in the first quarter stood at Rs 3,548.37 crore compared to Rs 2,908.68 crore in the year-ago period, it added. Total expenses in the quarter were higher at Rs 3,252.09 crore against Rs 2,492.97 crore a year ago. PEL said its pharmaceuticals vertical clocked revenue of Rs 1,485.43 crore, up from Rs 1,362.02 crore in the year-ago quarter. The financial services segment registered a revenue of Rs 2,062.94 crore against Rs 1,546.66 crore in the first quarter of the last fiscal, the company added. "In financial services, we achieved significant growth in retail disbursements through our branches as well as by leveraging dig

Piramal Enterprises has received shareholders' approval to demerge its Piramal Pharma business and simplify the corporate structure

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Piramal Enterprises Limited (PEL) on Wednesday announced the appointment of Rupen Jhaveri as its Group President, with primary focus on financial services. In the newly created role, Jhaveri will be responsible for business development, strategy, merger and acquisition, capital allocation and corporate finance. The appointment is effective January 24, 2022, the company said in a statement. His appointment is following the company's announcement in October 2021 that it would demerge its financial services and pharmaceuticals operations, aimed at simplifying PEL's corporate structure and unlocking value. Post the demerger, PEL will become one of the largest diversified NBFCs with capabilities in affordable home lending, small business lending, construction finance and digital embedded finance, the company said. Jhaveri joins PEL from global investment firm KKR, where he was a managing director at its India private equity team. Prior to joining KKR, he was with Goldman Sachs & Co in .

In a Q&A, the Chairman of Piramal Group talks about the prospects of both businesses, the rationale for the demerger and how supply side issues are impacting Indian companies

Analysts say the demerger will make it easier for investors to value the two companies

The demerger will give potential investors the option of being associated with the business of their choice