Net Sales are expected to increase by 2.6 percent Q-o-Q (up 6.8 percent Y-o-Y) to Rs 3687 crore, according to Centrum.
We expect Cipla’s EBIDTA margin to decline by 490bps YoY to 18.0% from 22.9% due to the absence of high-margin generic Nexium opportunity and higher R & D spend. We expect its material cost to increase by 220bps YoY to 37.4% from 35.2% due to change in product mix.
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