Latest news with #Piramal
Time of India
6 hours ago
- Business
- Time of India
Piramal Healthcare targets $2 bn revenue by FY30, to focus on organic expansion: Chairperson Nandini Piramal
Piramal Healthcare will focus on organic expansion as its primary growth driver for the next 4-5 years, while it looks for licensing of product acquisition deals in both complex hospital generics and consumer healthcare business, chairperson Nandini Piramal told ET in an interaction. She reiterated the company's revenue target of $2 billion by FY30 despite macroeconomic volatility and sector-specific headwinds. Explore courses from Top Institutes in Please select course: Select a Course Category others Project Management Management Technology Product Management Finance Public Policy PGDM Degree Data Science Design Thinking Artificial Intelligence MBA Cybersecurity MCA healthcare Leadership Healthcare Digital Marketing Data Science Others Operations Management Data Analytics CXO Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT - ISB Cybersecurity for Leaders Program India Starts on undefined Get Details 'Our network of facilities is well-balanced and as people think about diversifying supply chains, and even think of going back to the US, I think we are well set for that. Our focus on differentiated offerings such as antibody-drug conjugate (ADCs) is seeing growth. Overall, the other businesses are also on track for that growth,' she said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Wakefield: This Is The Truth About "No Fuss" Cremations Golden Leaves Undo ADC is an area of pharmaceutical research that focuses on creating targeted cancer therapies. Talking about the current global headwinds, Piramal said near-term macro-economic uncertainty and biotech funding volatility in the US are some of the significant risk factors to watch out for in the months ahead. Live Events On Monday, the company announced its first quarter results with a net loss of Rs 82 crore in Q1 FY26 versus net loss of Rs 89 crore a year ago. Revenue from operations fell 1% year-on-year to Rs 1,934 crore. EBITDA margin for Q1 FY26 was 9% versus 11% in Q1 FY25, primarily impacted by inventory destocking. This was partly offset by improved profitability of the overseas facilities in the CDMO business. About 69% of Piramal Pharma's revenue comes from regulated markets like the US, UK, Europe and Japan. Going ahead, Piramal said growth will be balanced between India, US and UK. The focus will be on broadening the customer base and getting new projects. The company is investing $90 million to expand two of its US facilities in Lexington and Riverview. The Lexington capability will come online in 2027, she said, and play a vital role in the company's integrated antibody-drug conjugate (ADC) development and manufacturing program.
Mint
8 hours ago
- Business
- Mint
Piramal Pharma's loss narrows to Rs82 crore in June quarter
Piramal Pharma Ltd will focus on increasing capacities for its contract development and manufacturing business, its largest revenue driver, even as it expects muted growth in 2025-26, chairperson Nandini Piramal said on Tuesday. The company is aiming to double its revenues to $2 billion by 2029-30, Piramal told Mint in a post-results interview. The Mumbai-based firm plans to spend $100-125 million in 2025 on capacity expansion. '...but even to reach our 2029-30 goals, we will have to continue to spend on capex…obviously, there is maintenance and compliance capex, but we will continue to spend on de-bottlenecking and increasing capacities where needed,' Piramal said. The company on Monday reported a 1% year-on-year decline in its June-quarter revenue at ₹ 1,934 crore, missing the Bloomberg estimate of ₹ 2,047 crore based on a poll of seven brokerages. Its Ebitda fell 26% to ₹ 165 crore, with Ebitda margin contracting to 9% compared to 11% in Q1FY25. Ebitda is short for earnings before interest, taxes, depreciation, and amortization. Its net loss stood at ₹ 82 crore, down 8% on-year. The Saridon maker said the revenue was impacted by the destocking of one of its largest CDMO (Contract Development and Manufacturing Organization) products. It anticipated 2025-26 growth to remain muted due to this and funding uncertainty for biotechs in the US. 'What we're quite pleased at is that if you take away the de-stocking event, we've grown at mid-teens, and we've also seen a more balanced growth in our overseas sites,' Piramal said, adding that the second half of the fiscal year is expected to be stronger. The company anticipates mid-single-digit revenue growth, mid-teens Ebitda growth, and an improvement in profitability in 2025-26, said Piramal. The firm expects a recovery in 2026-27, Piramal had told Mint in an earlier conversation. In the first three months of 2025-26, Piramal Pharma commenced expansion of two of its US facilities, Lexington, Kentucky, and Riverview, Michigan, for which it had previously announced a $90 million investment. The company has 15 global CDMO facilities, with four in North America, two in the UK and nine in India. Piramal's focus on capacity expansion comes as interest in Indian CDMOs, especially those with niche and differentiated capabilities, grows. As global pharma innovators and biotechs look at derisking their operations and shifting supply chains away from China, Indian firms are poised to grab a large share of this lucrative business. While companies, including Piramal, have seen an increase in requests for proposals (RFPs), indicating growing interest, the switch to actual clients is still slow. Piramal told Mint earlier that customers were pausing decision-making. Domestic factors in the US, like tax and interest rates and FDA funding cuts, were also slowing down biotech recovery. Export-focused CDMO peers such as Divi's Laboratories, Sai Life Sciences, and Syngene International are also aggressively ramping up capacities. Piramal is banking on its differentiated offerings for growth. Its Lexington and Riverview expansions will play a vital role in the development and manufacturing of antibody-drug conjugates (ADC). ADCs are a type of cancer therapy designed to deliver chemotherapy directly to cells, and have seen huge interest from innovators over the last few years. Piramal's differentiated products, including ADCs, sterile fill finish, payload link, high-potent APIs, and on-patent commercial product development, have been growing faster than the rest of the business, and 'will be the driver going forward', said Piramal. The company is not exploring inorganic growth for its CDMO business yet. 'We would do licensing and brand acquisitions in the complex hospital generics business or the consumer healthcare business. I think those are the most likely candidates for acquisitions rather than more facilities and new capabilities,' said Piramal. Piramal Pharma's stock price dipped over 3% to ₹ 196.8 per share on Tuesday morning on National Stock Exchange before settling at ₹ 206.03, up 0.82% at market close.
Time of India
2 days ago
- Business
- Time of India
Private equity deal: Multiples-led consortium moves CCI for 32% VIP Industries stake; Rs 1,438 crore deal to trigger open offer
A consortium led by Multiples Alternate Asset Management has approached the Competition Commission of India (CCI) seeking approval to acquire a 32% stake in luggage maker VIP Industries, according to a notice filed with the regulator. The application follows the July 13 announcement that VIP Industries' promoters — Dilip Piramal and family — will sell up to 32% of their shareholding to the Multiples-led group. The proposed acquisition will trigger a mandatory open offer for an additional 26% stake from public shareholders, in accordance with Sebi's takeover code, PTI reported. Assuming full acceptance of the open offer, the deal is valued at Rs 1,437.78 crore. Upon completion, control of the company will shift to Multiples, although the Piramal family will remain shareholders. Dilip Piramal will be designated Chairman Emeritus. The investor consortium includes Multiples Private Equity Fund IV (MPEF), Multiples Private Equity Gift Fund IV (MPGF), Samvibhag Securities (a portfolio company of investor Akash Bhanshali), and Caratlane founder Mithun Padam Sacheti and his brother Siddhartha Sacheti. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo Profitex Shares and Securities is also part of the transaction. 'The proposed combination will not lead to any change in the competitive dynamics, let alone cause any appreciable adverse effect on competition in India,' the consortium stated in its CCI filing. It also noted that defining a relevant market could be left open, consistent with previous CCI practice. Multiples focuses on core sectors such as financial services, pharma and healthcare, consumer, and technology. Samvibhag Securities represents interests aligned with Bhanshali. As of June 2025, promoter entities held 51.73% in VIP Industries. With a market capitalisation of Rs 6,389.47 crore, the Mumbai-based firm competes with Samsonite and Safari Industries in the premium and mass segments. It owns brands like VIP, Aristocrat, Skybags, Carlton, and Caprese, and had over 50% market share in India's branded luggage space in FY24. However, increasing competition has begun to eat into VIP's share. For FY25, the company reported revenue of Rs 2,169.66 crore. Founded in 1971, VIP is Asia's largest and the world's second-largest luggage manufacturer, with over 10,000 retail points across 45 countries. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Sydney Morning Herald
3 days ago
- Business
- Sydney Morning Herald
The Gen Z billionaires who are bored with business
The family that ran India's largest luggage maker for more than half a century is packing it in, with control of Mumbai-based VIP Industries passing to private equity. 'What do I do?' chairman Dilip Piramal, 75, wondered aloud in a TV interview after announcing the sale. 'The younger generation is not interested in management.' Piramal isn't the only ageing businessperson to have run out of successors. 'Today among the scions of some of the most affluent families of India, someone is an artist, someone wants to be a sportsman, someone wants to run a small restaurant. There's nothing wrong in that. It's the modern trend, people want to do their own things,' he said. Two hundred years ago, that 'modern' trend among young people used to be enterprise. That's when families like Piramal's began to spread out of the Marwar region in land-locked northern India to take advantage of British-controlled trading opportunities in the port cities of Bombay and Calcutta – now Mumbai and Kolkata. Cotton, jute and opium sold to China provided the seed capital to the Marwari business community for everything from textile mills to cement factories. By the early 20th century, these emerging industrial empires were large enough to challenge the colonial masters and their commercial interests. The likes of Ghanshyam Das Birla openly supported Mahatma Gandhi's campaign for independence, even as they outran rivals like Andrew Yule & Co. The Birla House in Delhi, a prominent hub for the freedom movement, was also where Gandhi was assassinated. As the sway of family firms continued after India's 1947 independence, it was believed that newer generations would always be available to take over the reins. Below the surface, however, the link between ownership and management has been weakening for some time. Piramal's daughter, Radhika, a Harvard University MBA, was the chief executive officer for a few years before quitting in 2017 and relocating with her spouse to London. Her same-sex marriage is not legally recognised in India. The luggage maker was back to being in the care of professional managers, a double-edged sword considering that a rival firm set up by a former managing director is now three-fifths bigger than VIP by market value. The heirs of prominent business families – Millennial and Gen Z billionaires – are setting their own life goals. It's the sensible thing to do. In a labour-surplus economy, access to capital through clan networks and strategic marital alliances was family-run firms' core advantage. But via public markets and private equity, finance is now available to a much wider section of entrepreneurs. Risk-taking has been democratised. That frees up younger members of business dynasties to try new things. Someone recently asked the singer-songwriter Ananya Birla on social media if she was from the family behind India's largest-selling cement brand. She is indeed the great-great-granddaughter of Ghanshyam Das Birla. But from financial inclusion among rural women to a recently launched beauty brand, the 31-year-old Oxford graduate has her own interests that are independent of the sprawling commodities behemoth led by her father.
The Age
3 days ago
- Business
- The Age
The Gen Z billionaires who are bored with business
The family that ran India's largest luggage maker for more than half a century is packing it in, with control of Mumbai-based VIP Industries passing to private equity. 'What do I do?' chairman Dilip Piramal, 75, wondered aloud in a TV interview after announcing the sale. 'The younger generation is not interested in management.' Piramal isn't the only ageing businessperson to have run out of successors. 'Today among the scions of some of the most affluent families of India, someone is an artist, someone wants to be a sportsman, someone wants to run a small restaurant. There's nothing wrong in that. It's the modern trend, people want to do their own things,' he said. Two hundred years ago, that 'modern' trend among young people used to be enterprise. That's when families like Piramal's began to spread out of the Marwar region in land-locked northern India to take advantage of British-controlled trading opportunities in the port cities of Bombay and Calcutta – now Mumbai and Kolkata. Cotton, jute and opium sold to China provided the seed capital to the Marwari business community for everything from textile mills to cement factories. By the early 20th century, these emerging industrial empires were large enough to challenge the colonial masters and their commercial interests. The likes of Ghanshyam Das Birla openly supported Mahatma Gandhi's campaign for independence, even as they outran rivals like Andrew Yule & Co. The Birla House in Delhi, a prominent hub for the freedom movement, was also where Gandhi was assassinated. As the sway of family firms continued after India's 1947 independence, it was believed that newer generations would always be available to take over the reins. Below the surface, however, the link between ownership and management has been weakening for some time. Piramal's daughter, Radhika, a Harvard University MBA, was the chief executive officer for a few years before quitting in 2017 and relocating with her spouse to London. Her same-sex marriage is not legally recognised in India. The luggage maker was back to being in the care of professional managers, a double-edged sword considering that a rival firm set up by a former managing director is now three-fifths bigger than VIP by market value. The heirs of prominent business families – Millennial and Gen Z billionaires – are setting their own life goals. It's the sensible thing to do. In a labour-surplus economy, access to capital through clan networks and strategic marital alliances was family-run firms' core advantage. But via public markets and private equity, finance is now available to a much wider section of entrepreneurs. Risk-taking has been democratised. That frees up younger members of business dynasties to try new things. Someone recently asked the singer-songwriter Ananya Birla on social media if she was from the family behind India's largest-selling cement brand. She is indeed the great-great-granddaughter of Ghanshyam Das Birla. But from financial inclusion among rural women to a recently launched beauty brand, the 31-year-old Oxford graduate has her own interests that are independent of the sprawling commodities behemoth led by her father.
