Cipla Q4 Results Update

On 10th May 2022, India’s 3rd largest pharma and drug-making company Cipla announced its quarterly results for the last quarter of FY2022.

Key Highlights:

- The company reported revenue from operations at Rs.5260 Crore grew by 14% YoY

- EBITDA at Rs.763 Crores down by 4.2% YoY 

- Cipla reported a robust 21% YoY revenue growth

- Business in South African, Sub-Saharan Africa and Cipla Global Access (SAGA) region grew by 8% YoY 

- US/North American businesses reported $160 million in revenue with a growth of 17% YoY.

- R&D investments stood at Rs.322 Crore with a growth of 16% YoY.

- The consolidated net profit came at Rs.363 Crore, down by 50% sequentially and 12.4% YoY

Segment-wise revenue:

- Pharmaceuticals- Revenue at Rs.5175.95 crores up by 14% YoY

- New venture- Revenue stood at Rs.110.5 Crores with a growth of 18% YoY

Business Highlights:

- Cipla signed a pact with Genes2Me to launch COVID-19 RT PCR test kits

- Cipla acquires stake in Clean Max Auriga Power LLP, progresses towards championing its ESG agenda

- Eli Lilly and Cipla entered into a strategic partnership in India to enhance access to Lilly’s key diabetics products

- Cipla and Kemwell Biopharma announced the execution of a Joint venture agreement for developing manufacturing and commercializing biosimilars.

- Cipla launched ‘ViraGen’, a polymerase chain reaction RT PCR test

Commenting on the results, Umang Vohra, MD and Global CEO of Cipla Ltd said, “I am pleased to see the continued momentum across our key markets despite adverse seasonality impacting overall business mix. Our One-India business continued the double-digit trajectory during the quarter. We crossed the $1 billion milestone in our domestic branded prescription business driven by sustained growth across our acute and chronic portfolio. Our established respiratory franchise and contribution from peptide assets have strengthened our US run rate to $160 Million. Adjusting for covid linked and other one-time charges, our core operating profitability continues to be strong, underpinned by the strength of our business fundamentals. We continue to respond to the challenging input cost environment with cost optimization and mix management while maintaining high serviceability. We are excited about the upcoming complex launches in H2FY23, which will further strengthen the overall business and profitability.”