IT IS A new beginning for Piramal Pharma Ltd (PPL) after its demerger from parent Piramal Enterprises Ltd (PEL). After the National Company Law Tribunal (NCLT) approved the demerger on August 12, 2022, the group’s pharma businesses were consolidated into PPL, which was then listed on the bourses on October 19. The responsibility of nurturing the new entity has fallen on the shoulders of Nandini Piramal, 41, daughter of industrialist Ajay Piramal, Chairman of the Piramal Group. Nandini earlier headed the OTC (over-the-counter) business of PEL, and provided assistance in areas such as setting the strategy and driving results at the group’s pharma business. She also headed the HR, IT and quality functions as Executive Director of PEL.
As Chairperson of PPL, Nandini is gearing up to take the new entity on a path of sustained growth. With ₹6,559 crore in consolidated revenues in FY22, PPL manufactures pharma products in 15 global facilities with distribution spread over 100 countries. PPL includes Piramal Pharma Solutions (PPS), a contract development and manufacturing organisation (CDMO) that also provides discovery and development services; Piramal Critical Care (PCC), a complex hospital generics business; and the India consumer healthcare business that sells OTC products. Its CDMO business is among the top three in India and 13th largest globally, while the consumer and PCC businesses are also well-positioned with differentiated products and business models.
This story is from the January 22, 2023 edition of Business Today India.
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This story is from the January 22, 2023 edition of Business Today India.
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