BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Cipla Ltd.’s Q1 FY21 revenues grew 9.0% YoY to Rs 4,346 crore due to 15.9% YoY growth in domestic formulations to Rs 1,608 crore. U.S. revenues declined 8.8% YoY to Rs 1,021 crore.
Rest of world markets grew 53.1% YoY to Rs 672 crore due to base effect. Europe grew 19.4% YoY to Rs 240 crore.
Ebitda margins improved 145 basis points YoY to 24.1% on account of a sharp drop in other expenditure amid Covid-19 lockdown, partly offset by lower gross margins due to higher contribution from margin dilutive trade generics segment.
Subsequently, Ebitda grew 15.9% YoY to Rs 1,049 crore. Net profit grew 21.4% YoY to Rs 578 crore in line with the operational performance.
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