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Cipla Q4FY23 PAT up 45.2% yoy at Rs526 crore on 54% EBITDA growth and 600 bps higher EBITDA margins
Cipla Ltd reported 9.1% growth in total revenues for the March 2023 quarter on consolidated basis at Rs5,739cr. On a sequential basis, the revenues were down -1.22%. India business saw yoy growth of 16% in the fourth quarter while the US business grew 27% on record revenues. The African market faced headwinds due to supply chain constraints in the quarter.
Much of the profit boost came from EBITDA growing 54% to Rs1,174 crore and the EBITDA margins expanding by 600 bps from 14.5% to 20.5% in Q4FY23. India still dominates the revenue mix of Cipla for Q4FY23 at 39% followed by the US at 29%. API sales marked a 3% contraction under pricing pressures. In terms of yoy growth, only African market saw negative growth in the quarter.
Financial highlights for Mar-23 compared yoy and sequentially
Cipla Ltd | |||||
Rs in Crore | Mar-23 | Mar-22 | YOY | Dec-22 | QOQ |
Total Income (Rs cr) | ₹ 5,739 | ₹ 5,260 | 9.11% | ₹ 5,810 | -1.22% |
Operating Profit (Rs cr) | ₹ 962 | ₹ 523 | 83.82% | ₹ 1,250 | -23.02% |
Net Profit (Rs cr) | ₹ 526 | ₹ 362 | 45.18% | ₹ 801 | -34.37% |
|
|
|
|
| |
Diluted EPS (Rs) | ₹ 6.51 | ₹ 4.48 |
| ₹ 9.92 |
|
OPM | 16.76% | 9.95% |
| 21.51% |
|
Net Margins | 9.16% | 6.88% |
| 13.79% |
|
For the full year FY23, the EBITDA grew 10% while the EBITDA margins expanded by 106 basis points. For Fy23, the PAT margins also expanded by 75 bps to 12.3%. The board has declared a final dividend of Rs8.50 per share to the shareholders on a face value of Rs2 per share.
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