Cipla Ltd. share price target

CIPLA's Q4FY25 EBITDA (Rs15.4bn; 22.8% OPM) was in line with our estimates. While Q4 is seasonally weak quarter; margins at 23% were above our estimate. Despite delay in new launches and supply issues of gLanreotide; Cipla managed to deliver strong profitability/margins in H2FY25. We expect Cipla to maintain its existing US sales run-rate. This will be aided by several high value niche launches in the US like gAbraxane, Nilotininb, gAdvair. Further, Cipla's...

Cipla has secured its much awaited USFDA approval of gAbraxane following Change in Estimates | Target | Reco the Goa facility clearance in November 2024, milestone that reinforces our positive stance on the company. Our FY26E and FY27E EPS factors in...

We maintain our BUY recommendation with a target price of Rs 1,700/share.

CIPLA delivered better-than-expected 3QFY25 earnings. While revenue was in line, EBITDA/adj. PAT beat our estimates, aided by a better product mix and lower R&D spending.

Cipla's "Future Fit" strategy outlines ambitious growth objectives, including becoming India’s 2nd largest pharmaceutical company, leading South Africa’s prescription and OTC markets, ranking 2nd in U.S. respiratory generics, and doubling international revenue.

Goa plant receiving VAI likely to speed up gAbraxane launch in FY25E. In its 2QFY25 earnings call CIPLA said this would be delayed to H1FY27

We maintain our BUY recommendation on the stock

Earnings in line with our estimates on all fronts. However, US sales was down and 5% lower than our estimates in rupee terms

Cipla’s revenue reached Rs. 7,051 crore, reflecting a 7% y-o-y increase and a 6% q-o-q rise, meeting our expectations.

We have BUY on the stock.

Cipla delivered in-line 1QFY25 performance. It continued to track well in the US generics segment, with sales scaling an all-time quarterly high of USD250m.

Considering a healthy pipeline of niche products and superior execution in the
branded generics segment, we value Cipla on SOTP basis (24x 12M forward
earnings and NPV of INR30 for g-Revlimid) to arrive at our TP of INR1,700. We
maintain BUY rating on the stock.

Strong traction in North America business and consistent performance in One-India; South Africa and Global Access business stabilising