Cipla Q3 Review - Strong Growth In India, RoW; Better Margins: ICICI Direct 
Cipla House, the headquarters of Cipla Ltd. in Lower Parel area of Mumbai, India. (Photo: BloombergQuint)

Cipla Q3 Review - Strong Growth In India, RoW; Better Margins: ICICI Direct 


BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Cipla Ltd.’s Q3 revenues grew 18.2% YoY to Rs 5169 crore led by strong growth in domestic and Rest of World markets.

Domestic sales grew 25.5% YoY to Rs 2231 crore.

RoW markets business grew 47.2% YoY to Rs 823 whereas South Africa business fell 2.5% YoY to Rs 579 crore. U.S. grew 9.6% YoY to Rs 1037 crore.

Ebitda margins expanded 647 basis points YoY to 23.8% mainly due to significantly lower other expenditure. Hence, Ebitda grew 62.3% YoY to Rs 1231 crore.

Profit after tax more than doubled to Rs 748 crore versus Rs 351 crore in Q3 FY20.

Click on the attachment to read the full report:

ICICI Direct Cipla Q3FY21 Result Update.pdf


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