Q1 FY23 Preview: Cipla: Revenue seen at Rs53,720 million; PAT at Rs5,770 million

28 Jul 2022 , 02:23 PM

Result date: 29th July
Recommendation: Buy
Target price: Rs1,075
Source: IIFL Research

During the June 2022 quarter, Cipla’s US sales could grow by 20-21%, on the back of new launches and market share gains in gAlbuterol/g-Lanreotide. Domestic formulation sales could decline 15% over the year-ago quarter on a high base  Overall revenue is pegged at Rs53,720 million, down 1.8% over the year-ago quarter. Profit After Tax (PAT) is forecasted at Rs5,770 million. This will be a y-o-y decline of 22.7%.  

 
Key management insights to look into:

• Update on ARV tenders for Low and Middle Income countries (LMIC)
• Details on: a) gAbraxane, and b) other niche molecules expected in FY24
• Performance across markets and segments
• Margin drivers

Rs million	June 2022 estimates	Y-o-Y
Revenue	53,720	(1.8%)
Profit After Tax	5,770	(22.7%)

Source: Brokerage Reports