Nandini Piramal Shares Larger Goals Post Pharma Listing Piramal Pharma is well positioned to meet consumer demand, says the chairperson of Piramal Pharma Limited
By Shrabona Ghosh •
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Post the demerger from Piramal Enterprises Limited, the pharmaceuticals business– Piramal Pharma Limited(PPL) – was listed on the Indian stock exchanges, Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Wednesday.
Nandini Piramal, chairperson, PPL, is bullish about the growth of Piramal Pharma. "We have a lot of manufacturing in India, however, a significant amount of manufacturing and our people are outside India. One of our biggest businesses is contract manufacturing and the setup that we have really helped us in meeting the consumer demand, we are well equipped," she said.
"We are pleased that Piramal Pharma is embarking on a new journey. Today, we are growing faster than the market and are relevant to customers in each of our business lines where we offer our products and services," she added.
In June 2020, PPL signed an agreement with The Carlyle Group Inc. to invest growth equity capital for a 20 per cent stake in Piramal Pharma Limited. The pharmaceuticals business was vertically demerged from Piramal Enterprises Limited (PEL). In October 2021, the board of directors of PEL approved the demerger of the pharmaceuticals business and simplification of the corporate structure to transform PEL from being a multi-sector conglomerate to two separate sector-focused listed entities in financial services and pharmaceuticals.
"Today, with the listing of Piramal Pharma Limited, we have ensured timely completion of the demerger process announced last year. The listing is in line with our objective to transform the group from a multi-sector conglomerate into two separate sector-focused listed entities. The simplification of the corporate structure will unlock greater shareholder value. PPL is well poised to be a global Indian brand in the pharmaceutical space. It has an integrated business model, niche product offerings and a global team to deliver responsible growth in the future," said Ajay Piramal, chairman of Piramal Group.
The consumer products division, under PPL, caters to the Indian self-care market and is one of the fastest growing businesses of the company. The company has built a distribution network in almost all the nooks and corners of the country– from kirana stores to chemist shops– the products are available everywhere. "It is a very India-focused business, Indian customers are very aware of wellness, with the right product and pricing, I see great growth in the sector," she added.
The PPL chairperson intends to maintain focus on growing the chosen business lines and will identify and secure inorganic and organic growth opportunities to generate consistent shareholder value. "Looking at organic growth we have done a lot of investments here. In the next 18 to 24 months we would do another INR 1200 crore of brownfield capex. For inorganic growth we would look for technologies that are not present in our contract manufacturing businesses or look for brands with products in hospital generics, consumer products that would meet our value expectation and strategy," she said.
Piramal Pharma Limited (PPL) offers a portfolio of differentiated products and services through end-to-end manufacturing capabilities across 15 global facilities and a global distribution network over 100 countries.
