External broker reports(aggregated public sources), Sharekhan

Sharekhan

External broker reports(aggregated public sources)

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Sharekhan's research report onCipla Cipla’s revenue reached Rs. 7,051 crore, reflecting a 7% y-o-y increase and a 6% q-o-q rise, meeting our expectations.</li><li>EBITDA stood at Rs. 1,886 crore with 15% y-o-y growth; it slightly missed our estimates by 1% and margins remained steady at 27%.</li><li>Cipla is poised for growth in North America, driven by demand for its generic asthma drug and cancer injectables, along with four new approvals secured during the quarter.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Sharekhan's research report onCipla Cipla’s revenue reached Rs. 7,051 crore, reflecting a 7% y-o-y increase and a 6% q-o-q rise, meeting our expectations.EBITDA stood at Rs. 1,886 crore with 15% y-o-y growth; it slightly missed our estimates by 1% and margins remained steady at 27%.Cipla is poised for growth in North America, driven by demand for its generic asthma drug and cancer injectables, along with four new approvals secured during the quarter.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cipla Ltd - Meaningful New Launches to Drive Growth

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>The company’s US revenue stood at $237 Mn, reflecting a 3.5% YoY increase, although this was affected by lower Lanreotide sales as the partner’s manufacturing plant underwent capacity expansion.</li><li>India’s branded prescription segment grew by 4.7%, with seasonal impacts on the acute category, which increased by 4.9% compared to 12% in the previous quarter.</li><li>Chronic products now comprise 61% of revenue, continuing to outpace IPM growth.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The company’s US revenue stood at $237 Mn, reflecting a 3.5% YoY increase, although this was affected by lower Lanreotide sales as the partner’s manufacturing plant underwent capacity expansion.India’s branded prescription segment grew by 4.7%, with seasonal impacts on the acute category, which increased by 4.9% compared to 12% in the previous quarter.Chronic products now comprise 61% of revenue, continuing to outpace IPM growth.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CIPLA Ltd - Regulatory Hurdles Cloud the Outlook

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Cipla delivered in-line 1QFY25 performance.</li><li>It continued to track well in the US generics segment, with sales scaling an all-time quarterly high of USD250m.</li><li>However, the benefit was partly offset by a temporary disruption in the trade generics segment.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cipla delivered in-line 1QFY25 performance.It continued to track well in the US generics segment, with sales scaling an all-time quarterly high of USD250m.However, the benefit was partly offset by a temporary disruption in the trade generics segment.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cipla - The US and Emerging Markets Drive Earnings

<ul><li>gAdvair and gAbraxane are expected to contribute to revenue growth in FY25E, as regulatory challenges ease.</li><li>gSynbicort has been filed, and one peptide product, valued at $300-400 Mn, has already been launched, with plans to introduce two more peptides in FY25E.</li><li>Cipla has demonstrated success in launching peptides over the past year. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

gAdvair and gAbraxane are expected to contribute to revenue growth in FY25E, as regulatory challenges ease.gSynbicort has been filed, and one peptide product, valued at $300-400 Mn, has already been launched, with plans to introduce two more peptides in FY25E.Cipla has demonstrated success in launching peptides over the past year. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CIPLA Ltd - Strong Gross Margins Led by Healthy Product Mix

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>In Q1FY25, <a href="https://www.smartkarma.com/entities/cipla-ltd" target="_blank" data-smartkarma-citation="entities:3918:1" rel="noopener">Cipla Ltd (CIPLA IN)</a> posted 7% YoY revenue growth to INR66.9B. Despite surging R&amp;D expenditure, EBITDA increased 26% YoY to INR17.2B, leading to 154bps margin expansion to 25.6%.</li>
<li>Record high quarterly revenue in the U.S. market, double-digit revenue growth in India branded prescription business, and continued strong momentum in South Africa drove overall performance.</li>
<li>Cipla is well-positioned for mid-to-high single-digit revenue growth through FY27. Sitting on a robust cash balance of INR90B, Cipla is eyeing on M&amp;A. Valuation still looks reasonable.</li>
</ul>


In Q1FY25, Cipla Ltd (CIPLA IN) posted 7% YoY revenue growth to INR66.9B. Despite surging R&amp;D expenditure, EBITDA increased 26% YoY to INR17.2B, leading to 154bps margin expansion to 25.6%.
Record high quarterly revenue in the U.S. market, double-digit revenue growth in India branded prescription business, and continued strong momentum in South Africa drove overall performance.
Cipla is well-positioned for mid-to-high single-digit revenue growth through FY27. Sitting on a robust cash balance of INR90B, Cipla is eyeing on M&amp;A. Valuation still looks reasonable.


Cipla (CIPLA IN): Starts FY25 On Firm Note; EBITDA Margin Ahead of Guidance Range

India

Cipla Limited manufactures and sells pharmaceutical and personal care products. The Company offers active pharmaceutical ingredients, and formulations in therapeutic areas, such as allergy, analgesic, anti malarial, anti-infectives, cardiology, dermatology and cosmeceuticals, diabetology, gastroenterology, steroids, iron chelators, nutritional products.

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Cipla Ltd (CIPLA IN)

Cipla Ltd - Meaningful New Launches to Drive Growth

Sharekhan's research report onCipla Cipla’s revenue reached Rs. 7,051 crore, reflecting a 7% y-o-y increase and a 6% q-o-q rise, meeting our...

Sharekhan

CIPLA Ltd - Regulatory Hurdles Cloud the Outlook

The company’s US revenue stood at $237 Mn, reflecting a 3.5% YoY increase, although this was affected by lower Lanreotide sales

Axis Direct

Cipla - The US and Emerging Markets Drive Earnings

Cipla delivered in-line 1QFY25 performance. It continued to track well in the US generics segment, with sales scaling an all-time quarterly high of...

Motilal Oswal

CIPLA Ltd - Strong Gross Margins Led by Healthy Product Mix

gSynbicort has been filed, and one peptide product, valued at $300-400 Mn, has already been launched, with plans to introduce two more peptides in...

Axis Direct

Cipla (CIPLA IN): Starts FY25 On Firm Note; EBITDA Margin Ahead of Guidance Range

In Q1FY25, Cipla posted 7% YoY revenue growth to INR66.9B. EBITDA increased 26% YoY to INR17.2B, leading to 154bps margin expansion to 25.6%, ahead...

Tina Banerjee

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