Annual Capex: $120-135 Million
Full-year capex guidance maintained at $120-135 million, with $21 million already spent in Q1. Lexington sterile injectable expansion remains on track for calendar year 2027 completion.
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Piramal Pharma · forward-looking guidance across the available source record.
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capex
Full-Year Growth Guidance Reaffirmed
Management maintained original annual guidance for revenue growth and profitability across all three business segments despite strong Q1 performance, citing early stage of fiscal year.
EBITDA Margin Target: 25% by FY30
Company targets 25% EBITDA margins by FY30, primarily driven by CDMO business operating leverage as overseas facility utilization scales up and differentiated offerings mix improves.
Normalized Tax Rate: 24-25% at Scale
Effective tax rate appears elevated currently due to overseas facilities not yet at scale. Normalized rate should reach 24-25% once operations scale, with reduction phased by jurisdiction.
FY26 guidance reaffirmed as stretch target
Management continues to stand by FY26 guidance despite acknowledging the target requires catch-up in remaining quarters; detailed FY27 guidance to be provided at subsequent board meeting.
$2B revenue aspiration by 2030 maintained
Long-term roadmap targeting $2B revenue by 2030 remains intact with CDMO expected to contribute ~$1B over next 3-4 years, supported by $90M capacity expansion.
Capex run-rate of $70-100M annually
Average annual capex guidance of $70-100M, currently elevated near-term due to Lexington and Riverview expansions, with asset turns expected to reach 2-2.5x at optimum utilization.
Effective tax rate guidance of 24-25%
Long-term ETR expected in 24-25% range as overseas facilities reach optimum capacity utilization; tax losses available for carry-forward to offset accounting impact.