Stockrabit · Analysts
Questions across 2 calls

Bharat Gupta

Fair Value Capital

Piramal Pharma Limited

Piramal Pharma Limited CC-Sep23.pdf · 2023-10-30
I have just one question, and that pertains to one of the statements which was made by the chairman prior to the demerger. So, in the pharma business, the chairman highlighted that the margins is likely to be on the improving trajectory, and that remains to be near about 25% odd levels over next 4 to 5 years. So, now with nearly one-and-a-half years passed by, so how do we see, like, are we still on the target to achieve and sustain the margins of about 25% over the next four to five years ? And what can be the growth levers likely to be there across the different segments?
And particularly with respect to the product mix, currently, if I look at the CDMO space, so innovative category constitutes close to 45% of the overall top line. So, in order to the margins to sustain over 20 %-odd, so where do we see the products mix change changing over the next four years?