Angel Broking neutral on Cipla

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26 Aug, 2025 12:21

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Angel Broking's report on CiplaCipla posted a robust set of numbers for 1QFY2016. It posted sales of `3,777cr V/s `3,390cr expected and V/s `2,647cr in 1QFY2015, a yoy growth of 42.7%.The sales growth came in mainly on back of export formulations, which grew by 78.5% yoy. On the operating front, the gross margin came in at 66.9% V/s 63.4% expected and V/s 61.3% in 1QFY2015, mainly on back of improved sales mix. The OPM consequently came in at 25.5% V/s 19.5% expected and V/s 17.7% in 1QFY2015. Thus, the net profit came in at `651cr V/s `420cr expected and V/s `295cr in 1QFY2015, a yoy growth of 121%. For FY2016, the company expects a 20% yoy growth. We remain Neutral on stock.Outlook and valuation:We expect the company’s net sales to post a 18.9% CAGR to `16,515cr and EPS to record a 20.2% CAGR to `28.4 over FY2015–17E. The growth in the top-line would be driven by domestic formulation sales and exports. We maintain our Neutral stance on the stock,taking into consideration the rich valuations, says Angel Broking research report.For all recommendations,  click here  Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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