Meanwhile, EBITDA for the quarter under review increased 13% YoY to Rs 1,316 crore as against 1166 crore in the last year period.
surged 6.4% to Rs 1,425 in Monday's trade on BSE after the firm reported a of Rs 939 crore for the quarter ended March 2024. The profit surged 79% from Rs 525 crore posted in the last-year period.Its from operations increased 7% year-on-year (YoY) to Rs 6,163 crore in the March quarter.
Meanwhile, for the quarter under review increased 13% YoY to Rs 1,316 crore as against 1166 crore in the last year period.
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The company's board has also recommended a payment of final of Rs 13 per equity share for the financial year ended March 2024.
Should you buy or sell Cipla's stock? Here's what analysts say:
Kotak Institutional Equities retained its 'Add' rating on Cipla with a target price of Rs 1,550 (Rs 1,545 earlier).
"In a seasonally weak quarter, Cipla delivered a steady performance with 12% YoY EBITDA growth. Armed with a healthy growth outlook despite the regulatory hurdles, Cipla has guided for a robust 24.5-25.5% EBITDA margin in FY2025E (KIE: 24.5%)," Kotak said.
"Cipla’s key launch pipeline is largely on track with delayed reinspection of the Goa facility by the US FDA being a risk. Apart from the US, the outlook in India and the SA private market stays upbeat. We expect Cipla to report a robust 16% ex-gRevlimid EPS CAGR over FY2024-27E," it said.
Motilal Oswal reiterated its 'Buy' call on Cipla with a target price of Rs 1,600.
"While g-Revlimid contributed meaningfully to overall earnings for FY24, we expect a 12% earnings CAGR over FY24-26. This would be largely driven by: commercialization of complex assets in the US and outperformance of chronic therapies in the DF segment, a transformed operating model in trade generics, and sustained growth in the consumer healthcare segment," it said.
Prabhudas Lilladher reiterated its 'Accumulate' call on Cipla with a target price of Rs 1,405.
"We continue to remain positive on key segments growth including India & US given strong traction in respiratory & other portfolios, potential +10% growth in domestic formulations, and sustainability of current US revs," it said.
InCred Equities maintained its 'Hold' rating on Cipla with a target price of Rs 1,479.
"We expect FY25F to be a moderate year for Cipla, with key launches pushed back to FY26F, and expect the stock to be range-bound in the medium term. Our FY25F/26F earnings are reset by +1%/+4%, respectively, factoring in higher margins," it said.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Source: Stocks-Markets-Economic Times