Prabhudas Lilladher's research report on Cipla
CIPLA’s Q1FY24 EBITDA (Rs15bn; 23.6% OPM) was 13% above our estimates, aided by higher GMs (64.3%) and US sales of US$222mn. We continue to remain positive on growth across key segments including India and US given 1) strong traction in respiratory and other portfolio, 2) potential growth of +10% in domestic formulations and 3) sustainability of current US revs, backed by prospective key launches over FY25. Our FY24E and FY25E EPS stands increased by ~5% as we factor in higher US sales and margins. We expect 17% EPS CAGR over FY23-25E.
Outlook
Maintain ‘Buy’ rating with revised TP of Rs1,220 based on 24x (22x earlier) FY25E EPS. Any further FDA escalation to Indore unit and erosion in key products in US will be key risk to our call.
For all recommendations report, 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.
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!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
