February 15, 2017 / 15:30 IST
Centrum's research report on Cipla The acquired Invagen and Exelan in the US are well-integrated with Cipla. The launch of Sereflo inhaler in UK is a positive step. The expected good growth in the domestic market, with leadership position in respiratory, oncology and ARV segments would drive future growth.
Outlook
We maintain our Buy rating on Cipla, with a TP of Rs 740 (earlier Rs610) based on 24x March’19E EPS of Rs 30.7. Cipla’s Q3FY17 results were in-line with our expectations. A slew of positive factors led to a 16% YoY growth in the company’s revenues, 390bps rise in margin to 18.6% and 44% growth in net profit.
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