Q2FY24 Quarterly Result Announced for Cipla Ltd.
Pharmaceuticals company Cipla announced Q2FY24 results: 1. Financial Performance: - Cipla achieves highest ever quarterly revenue of Rs 6,678 crore, a 14.6% YoY increase. - EBITDA margin reaches a record 26% at Rs 1,734 crore, a 33.1% YoY growth. - PAT stands at Rs 1,131 crore, a significant 43.4% YoY increase. - R&D; investments increased by 13% YoY, totaling Rs 379 crore or 5.7% of sales. - Strong balance sheet health continues with a robust net cash position of Rs 5,850 crore. 2. One-India Business: - One-India business records a 10% YoY growth, driven by strong performance in Branded Prescription and Trade Generics. - Branded Prescription grows at 11% YoY, outperforming the market. - Trade Generics achieve double-digit growth despite weak seasonality, aided by declining raw material costs. - Consumer Health sees improvement, with chronic share increasing by 140 bps YoY to 60%. 3. North America: - North America business reaches a quarterly revenue of USD 229 million, growing by 28% YoY. - Market share expands across key differentiated assets, with Lanreotide's market share at 20%. - Strong traction and share expansion in core products drive the growth in North America. 4. South Africa: - The private Market in South Africa grows at 12% YoY in local currency terms, outpacing the overall market. - Robust performance in prescription and OTC contributes to the growth. - Acquisition of Actor expected to expand OTC share. Umang Vohra, MD and Global CEO, Cipla said, "Pleased to share an exceptional set of results reflecting the strength of our core business across key markets of India, North America, and South Africa. We reported our highest-ever quarterly revenue with EBITDA margins scaling up to 26%. One-India business grew at a healthy 10% YoY with continued market-beating performance in the branded prescription and Trade Generics business. In South Africa, the private market business grew in double digits driven by strong execution across prescription and OTC. The North America business scaled up to USD 229 million, growing 28% YoY, driven by strong traction across core products with share expansion in differentiated assets. Our pipeline is progressing well with key milestones achieved in Respiratory and Peptide assets. We will continue our focus on driving profitable growth across businesses" Result PDF27-10-2023
