Piramal Enterprises acquires Digeplex from Shreya Lifesciences

The acquisition is part of a move to expand the company’s consumer products business.

Dec 01, 2017 10:12 IST India Infoline News Service

Piramal Enterprises has announced that they would be acquiring Digeplex and the associated brands from Shreya Lifesciences for an undisclosed sum in order to expand their consumer products business. Specifically, this acquisition would help with expanding the gastro-intestinal product portfolio of Piramal Enterprises. According to the management, the gastro-intestinal market has been growing at 11% every year.

In FY17, the company’s revenue from the pharma business came in at ~Rs4,054cr. Of this, Rs3,517cr came in from the Global Pharma business and Rs537 came in from the Indian Consumer Products business. The company’s revenue from pharma has grown by 17% CAGR from FY11-17 and is expected to reach Rs6,500-7,000 by FY20.

Piramal Enterprises Ltd is currently trading at Rs 2824, up by Rs 49.25 or 1.77% from its previous closing of Rs 2774.75 on the BSE. The stock touched a 52 week high of Rs 3083.05 on 13-Jun-2017 and a 52 week low of Rs 1443.9 on 26-Dec-2016. Last one week high and low of the scrip stood at Rs 2817.65 and Rs 2587.8 respectively.

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