Cipla Ltd Q3 net down -2.6% yoy at Rs729cr on higher raw material costs and other expenses

Cipla Ltd reported 6.00% yoy growth in total revenues for the Dec-21 quarter on consolidated basis at Rs5,479cr

January 25, 2022 7:03 IST | India Infoline News Service
Cipla Ltd reported 6.00% yoy growth in total revenues for the Dec-21 quarter on consolidated basis at Rs5,479cr. On a sequential basis, the revenues were down by -0.74%.

During the December 2021 quarter, the company sustained its traction across branded and generic markets. India revenues grew by 13% yoy on core therapies and flagship brands.

The US business showed 7% growth in dollar terms on robust momentum in core business, especially the respiratory portfolio. India accounts for 46% of revenues and the US for 21%. As of 31-Dec,

Cipla has a total of 167 approved ANDAs, 18 tentatively approved ANDAs and 72 ANDAs that are under approval.

For the Dec-21 quarter, the operating profits were flat on a yoy basis at Rs984cr. The company reported overall EBITDA margins of 22.7% for the quarter.

There was pressure on operating profit growth across international market with the API business alone accounting for a 27% fall in EBITDA due to the sharp rise in competition and thinning of margins in the business.

Operating margins contracted from 19.01% in Dec-20 quarter to 17.95% in the Dec-21 quarter. Operating margins were higher on a sequential basis.

Net Profit after tax (PAT) for the Dec-21 quarter was down -2.61% yoy at Rs729cr on the back of pressure on operating profits. To an extent, the higher material costs and other expenses were offset by inventory efficiency gains in the quarter. 

PAT margins contracted from 14.47% in the Dec-20 quarter to 13.30% in the Dec-21 quarter. The PAT margins were higher by 41 basis point on a sequential basis.

Financial highlights for Dec-21 compared yoy and sequentially

Cipla Ltd
Rs in Crore Dec-21 Dec-20 YOY Sep-21 QOQ
Total Income (Rs cr) ₹ 5,479 ₹ 5,169 6.00% ₹ 5,520 -0.74%
EBITDA (Rs cr) ₹ 984 ₹ 982 0.11% ₹ 973 1.06%
Net Profit (Rs cr) ₹ 729 ₹ 748 -2.61% ₹ 711 2.42%
Diluted EPS (Rs) ₹ 9.02 ₹ 9.26 ₹ 8.80
EBITDA Margin 17.95% 19.01% 17.63%
Net Margins 13.30% 14.47% 12.89%

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