Blockchain Press Releases
Piramal Pharma Limited Announces Consolidated Results for Q1FY24
MUMBAI, India, Aug. 3, 2023 /PRNewswire/ — Piramal Pharma Limited (NSE: PPLPHARMA | BSE: 543635), today announced its consolidated results for the first quarter (Q1) ended 30th June 2023.
Consolidated Financial Highlights |
|||||
(In INR Crores) |
|||||
Particulars |
Q1 FY24 |
Q1 FY23 |
YoY Growth |
Q4 FY23 |
QoQ Growth |
Revenue from Operation |
1,749 |
1,482 |
18 % |
2,164 |
-19 % |
CDMO |
898 |
770 |
17 % |
1,285 |
-30 % |
Complex Hospital Generic (CHG) |
617 |
508 |
22 % |
702 |
-12 % |
India Consumer Healthcare (ICH) |
239 |
211 |
13 % |
206 |
16 % |
EBITDA |
171 |
89# |
92 % |
376 |
-55 % |
EBITDA Margin |
10 % |
6 % |
17 % |
||
PAT |
-99 |
-109 |
NA |
50 |
-297 % |
PAT Margin |
-6 % |
-7 % |
2 % |
# Q1 FY23 EBITDA had one-time inventory margin impact of INR 68 Crore
Key Highlights for Q1FY24
- Revenue from Operation grew by 18% YoY in Q1FY24 driven by broad base performance across all three businesses – CDMO, CHG and ICH
- EBITDA margin in Q1FY24 was 10%, a YoY improvement compared to 6% in Q1FY23, driven by healthy revenue growth and cost optimization measures
- We maintain our quality track record of zero OAIs (Official Action Indicated) as we successfully closed the US FDA inspection at the Pithampur facility with zero observations
- We strengthened our Management Team by appointing Jeffrey Hampton as President & Chief Operating Officer for Piramal Critical Care (CHG business)
- We have shared the details of our Rights Issue – Rights Price of INR. 81, Record Date of August 2, 2023 and Entitlement Ratio of 5:46
Nandini Piramal, Chairperson, Piramal Pharma Limited said, “We had a positive start to the new financial year with healthy revenue growth and improvement in our EBITDA margins. Our CDMO business is also witnessing continued order inflows, especially for our differentiated offerings and innovation related work. Our Inhalation Anesthesia portfolio is seeing a healthy demand and our India Consumer Healthcare business is delivering good growth driven by power brands. We continue to maintain our best-in-class quality track record and are also taking multiple initiatives in the area of ESG to grow our business responsibly.
Historically our H2 has been better than H1, both in terms of revenue and profitability. We are working to leverage our good start to the financial year and continuing this momentum to deliver a healthy YoY performance for the rest of the year. We believe in the growth potential of our business and are accordingly executing on our strategic priorities to create shareholder value. Our promoter and promoter group have agreed to subscribe to the extent of 100% of the equity shares offered in our Rights Issue, thereby reaffirming their confidence in the underlying strengths of our business.”
Key Business Highlights for Q1FY24 |
Contract Development and Manufacturing Organization (CDMO):
Complex Hospital Generics (CHG):
India Consumer Healthcare (ICH):
|
Consolidated Profit and Loss Statement |
|||||
(In INR Crores) |
|||||
Reported Financials |
|||||
Particulars |
Q1FY24 |
Q1FY23 |
YoY Change |
Q4FY22 |
QoQ Change |
Revenue from Operations |
1,749 |
1,482 |
18 % |
2,164 |
-19 % |
Other Income |
38 |
72 |
-47 % |
25 |
56 % |
Total Income |
1,787 |
1,554 |
15 % |
2,188 |
-18 % |
Material Cost |
627 |
574 |
9 % |
840 |
-25 % |
Employee Expenses |
496 |
461 |
8 % |
474 |
5 % |
Other Expenses |
494 |
430 |
15 % |
499 |
-1 % |
EBITDA |
171 |
89# |
92 % |
376 |
-55 % |
Finance Cost |
119 |
62 |
90 % |
104 |
14 % |
Depreciation |
174 |
162 |
7 % |
184 |
-6 % |
Share of net profit of associates |
14 |
20 |
-28 % |
8 |
85 % |
Profit Before Tax |
-107 |
-115 |
-7 % |
95 |
-213 % |
Tax |
-9 |
-6 |
NA |
45 |
-119 % |
Net Profit after Tax |
-99 |
-109 |
NA |
50 |
-297 % |
Exceptional item |
0 |
0 |
0 |
||
Net Profit after Tax after exceptional item |
-99 |
-109 |
NA |
50 |
-297 % |
# Q1 FY23 EBITDA had one-time inventory margin impact of INR 68 Crore
Q1FY24 Earnings Conference Call
Piramal Pharma Limited will be hosting a conference call for investors / analysts on 4th August 2023 at 10:00 AM (IST) to discuss its Q1FY24 Results.
The dial-in details for the call are as under:
Event |
Location & Time |
Telephone Number |
Conference call on |
India – 10:00 AM IST |
+91 22 6280 1461 / +91 22 7115 8320 (Primary Number) |
1 800 120 1221 (Toll free number) |
||
USA – 12:30 AM (Eastern Time – New York) |
Toll free number 18667462133 |
|
UK – 5:30 AM (London Time) |
Toll free number 08081011573 |
|
Singapore – 12:30 PM (Singapore Time) |
Toll free number 8001012045 |
|
Hong Kong – 12:30 PM (Hong Kong Time) |
Toll free number 800964448 |
|
Express Join with Diamond Pass™ |
Please use this link for prior registration to reduce wait time at the time of joining the call –https://services.choruscall.in/DiamondPassRegistration/register?confirmationNumber=9503078&linkSecurityString=33aa158d84 |
About Piramal Pharma Ltd:
Piramal Pharma Limited (NSE: PPLPHARMA) (BSE: 543635), offers a portfolio of differentiated products and services through its 17 global development and manufacturing facilities and a global distribution network in over 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated contract development and manufacturing organization; Piramal Critical Care (PCC), a complex hospital generics business; and the India Consumer Healthcare business, selling over-the-counter products. In addition, one of PPL’s associate companies, Allergan India Private Limited is a JV with AbbVie Inc. and has emerged as one of the market leaders in the ophthalmology therapy area. Further, PPL has a minority investment in Yapan Bio Private Limited. In October 2020, PPL received a 20% strategic growth investment from the Carlyle Group.
For more information visit: www.piramaI.com/pharma I I inker1ln | Facebook I Twitter.
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View original content:https://www.prnewswire.co.uk/news-releases/piramal-pharma-limited-announces-consolidated-results-for-q1fy24-301893273.html
Blockchain Press Releases
HTX Collaborates with Astar Network to Accelerate Blockchain Innovation through the TGE Catalyst Grant
SINGAPORE, May 8, 2024 /PRNewswire/ — The leading digital assets exchange HTX has collaborated with Astar Network, a blockchain that aims to become Polkadot’s “smart contract hub” and serves as a parachain for Polkadot, in support of its newly launched “TGE Catalyst Grant. This initiative marks a significant step forward in fostering innovation within the blockchain ecosystem, particularly through the Astar zkEVM platform.
The TGE Catalyst Grant is designed to empower emerging projects preparing for their Token Generation Events (TGE) on Astar’s zkEVM. This groundbreaking program provides a holistic support package that includes financial assistance, strategic collaboration with key opinion leaders, and robust marketing campaigns, all aimed at ensuring successful token launches.
“As an active participant in the blockchain sector, HTX is committed to supporting transformative projects that drive the industry forward. Our collaboration with Astar Network through the TGE Catalyst Grant underscores our HTX Ventures’ dedication to nurturing innovation and providing comprehensive market support from the outset,” said Edward, Managing Partner of HTX Ventures. “We are excited to work alongside Astar Network and other leading exchanges to facilitate a new generation of token projects, ensuring they have the tools and support needed to succeed.”
HTX Ventures, the global investment arm of the HTX, has been an investor in Astar Network since 2021, demonstrating a long-term commitment to the growth and success of Astar’s platform and its associated projects.
“We are deeply grateful for the support from HTX and their belief in our vision to expand the frontiers of blockchain technology.” said Astar Network, “This collaboration through the TGE Catalyst Grant not only accelerates our mission at Astar Network but also cultivates significant synergies that will enhance our joint efforts to drive global blockchain innovation. We are excited about the future and look forward to working together to bring about transformative impacts within the ecosystem.”
Key features of the TGE Catalyst Grant include:
- Strategic CEX Collaboration: Streamlining the listing process and boosting market momentum through collaborations with top CEXs including HTX.
- Unique Marketing and KOL Alliances: Utilizing Astar’s “SAMURAI Support” marketing framework to enhance project visibility and engagement within the Web3 community.
- Listing Acceleration Package: Offering financial support for marketing and promotional activities on CEXs, alongside liquidity advisory services and audit support to ensure project readiness and security.
HTX’s involvement in the TGE Catalyst Grant not only strengthens its portfolio of innovative blockchain services but also enhances its role as a catalyst in the decentralized finance (DeFi) landscape.
About HTX:
Founded in 2013, HTX has evolved over a decade from a simple cryptocurrency exchange to a comprehensive blockchain business ecosystem. This expansion covers a wide range of services including digital asset trading, financial derivatives, wallets, research, investments, incubation, and more. As a world-leading portal to Web 3.0, HTX is committed to a growth strategy focused on global expansion, ecological prosperity, wealth effect, and safety and compliance. This approach enables us to offer comprehensive, safe, and reliable services and value to virtual currency enthusiasts around the world, reinforcing our position as a global gateway to Web3.
Contact Details
Michael Wang
[email protected]
Company Website
https://www.htx.com/
About Astar:
Astar Network is the gateway for projects across enterprises, entertainment & gaming in Japan and beyond, driving global adoption and delivering web3 to billions. It leverages a cross-virtual machine powered by Polygon and Polkadot to offer customizable blockchain solutions that accelerate web3 adoption. With zk-powered Ethereum L2 Scaling (zkEVM), EVM, WASM, and a cutting-edge ecosystem, Astar delivers robust, secure, and interoperable web3 technology.
Astar zkEVM is the new Layer-2 solution to scale a web3 experience on Ethereum with zero knowledge (ZK) technology. Astar Network connects you to web3.
Photo – https://mma.prnewswire.com/media/2407910/HTX_Astar.jpg
Logo – https://mma.prnewswire.com/media/2391903/image_ID__Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/htx-collaborates-with-astar-network-to-accelerate-blockchain-innovation-through-the-tge-catalyst-grant-302140043.html
Blockchain
Omnichain protocols offer the answer to blockchain fragmentation
Blockchain fragmentation, stemming from the proliferation of diverse blockchain networks, poses challenges for interoperability and seamless data exchange. In response, omnichain protocols emerge as a solution to bridge these fragmented ecosystems.
These protocols aim to create a unified framework that enables communication and data transfer across multiple blockchain networks. By establishing common standards and protocols, omnichain solutions facilitate interoperability, allowing different blockchains to interact seamlessly.
The adoption of omnichain protocols addresses key issues such as data silos, redundant processes, and inefficiencies caused by blockchain fragmentation. These protocols enable businesses and developers to leverage the strengths of various blockchain networks while mitigating the drawbacks of fragmentation.
With omnichain protocols, organizations can achieve greater flexibility, scalability, and efficiency in their blockchain implementations. These protocols provide a foundation for building interconnected blockchain ecosystems, fostering innovation and collaboration across industries.
As blockchain technology continues to evolve, omnichain protocols play a vital role in overcoming the challenges of blockchain fragmentation and unlocking the full potential of distributed ledger technology.
Source: cointepegraph.com
The post Omnichain protocols offer the answer to blockchain fragmentation appeared first on HIPTHER Alerts.
Blockchain
State-owned German Bank Set to Introduce Blockchain-Backed Digital Bonds
Germany’s state-owned bank, Kreditanstalt fuer Wiederaufbau (KfW), is set to embrace the digital age by issuing its first blockchain-based digital bond. This move signals the bank’s foray into blockchain technology and its commitment to driving its adoption in the financial sector.
The bond that KfW plans to issue will be tokenized, marking it as a ‘crypto security.’ This tokenization involves representing the bond on a blockchain, enabling validation of its transactional history and ownership.
Tokenizing bonds offers several advantages, including the automation of various aspects of bond management such as interest payments and maturity settlements. Additionally, it reduces the need for intermediaries in the process, thereby cutting down on overall transaction costs.
Melanie Kehr, a member of the Executive Board of KfW Group, expressed the bank’s innovative approach in testing new financial market products. She emphasized that the issuance of the digital bond under the German Electronic Securities Act reflects the bank’s commitment to exploring innovative solutions in the financial market.
The issuance of the blockchain-based bond marks a significant step for KfW, as it seeks to attract investors and enhance efficiency and scalability in bond transactions. Tim Armbruster, Treasurer at KfW, highlighted the importance of digitalization in increasing efficiency and scalability, emphasizing the bank’s goal of attracting a wide range of investors for the digital bond.
KfW plans to engage in dialogues with institutional investors in Europe to better understand their needs and explore the potential of blockchain technology in fintech. Cashlink Technologies GmbH, a Frankfurt-based fintech company, will serve as the crypto securities registrar for KfW, facilitating the issuance of the digital bond.
The decision by KfW to issue a blockchain-based digital bond underscores the growing interest in blockchain technology within the financial sector. It represents a significant step towards leveraging blockchain for innovation and efficiency in financial markets.
Source: cryptonews.com
The post State-owned German Bank Set to Introduce Blockchain-Backed Digital Bonds appeared first on HIPTHER Alerts.
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