Cipla Q1 net seen down 18% at Rs 328 cr: P Lilladher
Prabhudas Lilladher expects Cipla to report a 22.7 percent growth quarter-on-quarter (fall of 18.1 percent year-on-year) in net profit at Rs 328.2 crore.
August 08, 2013 / 19:34 IST
Prabhudas Lilladher has come out with its first quarter (April-June) earnings estimates for the pharmaceutical sector. The brokerage house expects Cipla to report a 22.7 percent growth quarter-on-quarter (fall of 18.1 percent year-on-year) in net profit at Rs 328.2 crore.
Revenues are expected to increase by 5 percent Q-o-Q (up 4.4 percent Y-o-Y) to Rs 2,000 crore, according to Prabhudas Lilladher.Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 31.9 percent Q-o-Q (down 7.8 percent Y-o-Y) to Rs 460.2 crore.EBITDA margin or operating profit margin is likely to be at 23 percent in June quarter as against 18.3 percent in March quarter and 26 percent in a year ago period.Prabhudas Lilladher report on CiplaCipla's Q1FY14E revenues are likely to grow at 4 percent Y-o-Y and 5 percent Q-o-Q due to 5 percent reduction in domestic formulations. While exports grows on higher volume from Indore facility and favourable USD/INR, domestic formulations is likely to be one of the most impacted in the industry. As per our estimates, Cipla’s exposure to new NLEM policy to be 30 percent of its portfolio of products. Core EBITDA margin is likely to be reduced by 300bps Y-o-Y as the company had one-off revenues from Lexapro supply to Teva in H1FY13. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
