Cipla Q4 Review - Misses Estimates; Focus Remains Intact: ICICI Direct
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ICICI Direct Report
Cipla Ltd.'s Q4 revenue grew 5.3% YoY to Rs 4,606 crore.
Domestic sales grew 4.5% YoY to Rs 1,807 crore. U.S. grew 17.1% YoY to Rs 1,002 crore on the back of continued Albuterol ramp-up.
Rest of world markets business fell 4.8% YoY to Rs 674 crore.
South Africa business grew 13.9% YoY to Rs 606 crore tracking strong private business momentum.
Ebitda margin expanded 281 basis points YoY (down 653 basis points QoQ) to 17.3% mainly due to significantly lower other expenditure partially offset by lower gross margins.
Subsequently, Ebitda grew 25.7% YoY to Rs 796 crore.
Profit after tax was up 68% YoY to Rs 413 crore.
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