PIRAMAL ENTERPRISES LTD
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BSE Code:
500302
NSE Code:
PEL
Business Profile
Business Profile
Piramal Healthcare (formerly Nicholas Piramal India) is a pharmaceutical company. It operates in the therapeutic segments of anti-bacterials, cardiovasculars, anti-diabetics, nutritional, central nervous system and gastro-intestinal. In addition, it has a presence in the OTC segment through various joint ventures and alliances.
Nicholas Piramal`s primary brands Phensedyl, Ismo, Supradyn, Gardenal, Stemetil, Haemaccel and Rejoint account for 67% of the company`s turnover, whereas its secondary brands such as Paraxin, Flagyl and Omnatax account for 24% of its turnover. The secondary brands, however, are the company`s cash cows.
The company has inked joint ventures with Allergan (eye-care), Ambalal Sarabhai (distribution of ethical products), Boots (OTC products), Shree Dhootapapeshwar (ayurvedic medicines), Laporte (food additives), Bupa (Wellspring Hospital), Charak Pharmaceuticals (ayurvedic) and Solumiks Pharma (ayurvedic). It also has access to newly patented products coming out of the research pipeline of F. Hoffmann-La Roche and Boehringer Mannheim.
The company has four subsidiaries, namely, Gujarat Glass, Ceylon Glass Co., Drs. Tribedi & Roy Diagnostic Laboratories and Dr Phadke Pathalogy Laboratory and Infertility Centre. In December 2000, NPIL acquired 60% stake in Rhone Poulenc India.
The company`s manufacturing activities are well supported by active research and development, a phenomenon, which has shown a healthy growth in the past five years. It has set up an R&D facility called the `Quest Institute of Life Sciences` in Mumbai that focuses on process development.
Financials
The company reported a steep drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 47.62% to Rs 386.70 million from Rs 738.20 million in the same quarter last year. Net sales for the quarter rose 19.38% to Rs 5,804.60 million, while total income for the quarter rose 18.73% to Rs 5843.8 million, when compared with the prior year period. It posted earnings of Rs 1.90 a share during the quarter, registering 45.71% decline over previous year period.
Recent Developments
28-JAN-09
The company along with US based RxElite had acquired the entire issued outstanding capital stock of RxElite Holdings, the wholly own subsidiary of RxElite Holdings for cash consideration of USD 4.2 million.
15-APR-08
The company has inked definitive agreement for purchase of Anafortan and CEFI Brand Groups of Khandelwal Laboratories (K-Lab) for a total consideration of Rs 1,160 million.
03-MAR-08
The board of directors of Nicholas Piramal India at its meeting held on Mar. 03, 2008 approved the proposal for change of name of the company to `Piramal Healthcare`.
22-FEB-08
Nicholas Piramal - NPIL Research and Development (NRDL) has entered into an agreement with the Department of Biotechnology for the screening of bio-molecules from microbial diversity collected from different ecological niches.
Future Plans
Nicholas Piramal will launch its fully integrated formulation capabilities to both existing and new small, or virtual and large pharma customers in Europe and North America, via a series of road shows scheduled to begin in the second quarter of 2007.
The company also plans to move its research and development (R&D) activities into a separate company to drive the first new drug by 2010.