Cipla
No. of schemes that newly added the stock: 19
Total no. of active schemes that held the stock: 150
A sample of schemes that newly added the stock: SBI Large & Midcap, UTI LT Equity and Nippon India Vision Fund
Indian pharmaceutical major, Cipla Limited, declared its results for the third quarter ending December 31, 2022 (Q3FY23) on January 25.
The company posted a consolidated profit after tax (PAT) of Rs 801 crore for the quarter, increasing by 10 percent from Rs 729 crore reported in the same quarter last year. It had reported a profit of Rs 789 crore in the September'22 quarter.
Consolidated revenue came in higher Y-o-Y by 6 percent at Rs 5,801 crore, compared to Rs 5,479 crore logged in December 2021 quarter. Revenue in Q2FY23 stood at Rs 5,829 crore.
Commenting on the performance of the company, Umang Vohra, MD and Global CEO, said, "Our Q3FY23 performance reflects sustained momentum in core One-India and US businesses driving our overall revenue growth of 6% reported and 11% on a excovid basis."
India business saw double-digit traction in core portfolio across therapies and business segments sustaining momentum across respiratory, cardiac, anti-diabetic in core portfolio. It also mentioned Consistent traction across anchor and transitioned brands driving 16% YoY adjusted growth.
Meanwhile, its North America business reported its highest ever quarterly revenue at US$195 million amounting to a 30% Y-o-Y growth on the back of strong traction seen in its differentiated portfolio including market share expansion in key respiratory and peptide injectable products.
Earnings before interest, depreciation, tax, and amortisation (EBITDA) came in at Rs 1,408 crore which is higher by 13 percent from Rs 1,243 crore reported last year. It was up 8 percent on a sequential basis from Rs 1,302 crore in the previous quarter. EBITDA margin stood higher at 24.2% compared to 22.7% reported for the same quarter a year ago.
Cipla’s SAGA (South Africa, Sub-Saharan Africa and Global Access) business saw its sales contract 24% Y-o-Y to Rs. 680 Crore with the company mentioning that it is addressing supply challenges. On other international markets front including emerging markets and Europe, it saw sales rise 3.3% Y-o-Y.
R&D investments stood at Rs 363 crores up by 39% Y-o-Y driven by on-going clinical trials on a respiratory asset and other developmental efforts continuing including biosimilars.
“Our reported operating profitability of 24.2% reflects our focused efforts on navigating external headwinds and continued higher R&D spends stemming from ongoing respiratory trials and initiation of biosimilar programs.” Vohra commented.
