Sharekhan's research report on Cipla
Cipla reported healthy numbers for Q4FY2022, adjusting for one-off expenses of Rs. 200 crore towards inventory charges relating to COVID-19 portfolio. Revenues and PAT grew strongly in double digits. The outlook for US business is strong backed by growth in the respiratory products and high-value launches being lined up in H2FY23 in the US markets. Cipla expects to outperform the Industry growth in the domestic markets, backed by strong growth in the acute as well as chronic therapies, new brands and likely traction in consumer business. While there are near-term challenges in the form of cost pressures, long-term growth drivers are in place.
We maintain our Buy recommendation on the stock with unchanged PT of Rs. 1,150.
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