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CIPLA LIMITED |
Delayed
Other stock markets
|
|
5-day change | 1st Jan Change | |
| 1,204.5 INR | -1.20% | -1.03% | +11.90% | |
| 04:13am | Cipla Unit Recalls Anti-Epileptic Drugs Due to Sachet Leaks | MT |
| Nov. 27 | Cipla's Arm Acquires Additional 15% Stake in Joint Venture | MT |
Valuation
| Fiscal Period : March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 426 134 | 340 917 | 657 346 | 821 377 | 726 839 | 984 241 | - | - |
| Enterprise Value (EV) 1 | 463 108 | 359 042 | 658 708 | 810 334 | 716 397 | 929 065 | 902 454 | 872 904 |
| P/E ratio | 27,9x | 22,1x | 27,4x | 32,7x | 26,0x | 25,0x | 22,5x | 20,3x |
| Yield | 0,57% | 0,71% | 0,61% | 0,49% | 0,94% | 0,63% | 0,70% | 0,78% |
| Capitalization / Revenue | 2,60x | 1,99x | 3,43x | 3,77x | 3,19x | 3,83x | 3,50x | 3,21x |
| EV / Revenue | 2,83x | 2,10x | 3,44x | 3,72x | 3,15x | 3,61x | 3,20x | 2,85x |
| EV / EBITDA | 15,0x | 11,2x | 15,5x | 17,8x | 14,3x | 15,2x | 13,3x | 11,8x |
| EV / FCF | 34,8x | 14,4x | 21,1x | 29,1x | 29,9x | 30,2x | 24,6x | 21,1x |
| FCF Yield | 2,87% | 6,95% | 4,74% | 3,43% | 3,35% | 3,31% | 4,06% | 4,74% |
| Price to Book | 2,70x | 2,16x | 3,59x | 3,94x | 3,11x | 3,70x | 3,25x | 2,87x |
| Nbr of stocks (in thousands) | 805 699 | 806 235 | 806 460 | 806 814 | 807 151 | 807 350 | - | - |
| Reference price 2 | 529 | 423 | 815 | 1 018 | 901 | 1 219 | 1 219 | 1 219 |
| Announcement Date | 5/22/19 | 5/15/20 | 5/14/21 | 5/10/22 | 5/12/23 | - | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period : March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 163 624 | 171 320 | 191 596 | 217 633 | 227 531 | 257 062 | 281 594 | 306 592 |
| EBITDA 1 | 30 973 | 32 060 | 42 524 | 45 528 | 50 270 | 61 100 | 67 909 | 73 913 |
| EBIT 1 | 17 710 | 20 313 | 31 848 | 35 008 | 38 549 | 50 195 | 56 144 | 61 060 |
| Operating Margin | 10,8% | 11,9% | 16,6% | 16,1% | 16,9% | 19,5% | 19,9% | 19,9% |
| Earnings before Tax (EBT) 1 | 20 791 | 21 782 | 32 901 | 34 933 | 40 384 | 54 375 | 61 122 | 67 404 |
| Net income 1 | 15 277 | 15 465 | 24 049 | 25 168 | 28 019 | 39 311 | 43 781 | 48 537 |
| Net margin | 9,34% | 9,03% | 12,6% | 11,6% | 12,3% | 15,3% | 15,5% | 15,8% |
| EPS 2 | 18,9 | 19,2 | 29,8 | 31,2 | 34,7 | 48,9 | 54,2 | 60,1 |
| Free Cash Flow 1 | 13 311 | 24 957 | 31 255 | 27 818 | 23 971 | 30 751 | 36 677 | 41 372 |
| FCF margin | 8,13% | 14,6% | 16,3% | 12,8% | 10,5% | 12,0% | 13,0% | 13,5% |
| FCF Conversion (EBITDA) | 43,0% | 77,8% | 73,5% | 61,1% | 47,7% | 50,3% | 54,0% | 56,0% |
| FCF Conversion (Net income) | 87,1% | 161% | 130% | 111% | 85,6% | 78,2% | 83,8% | 85,2% |
| Dividend per Share 2 | 3,00 | 3,00 | 5,00 | 5,00 | 8,50 | 7,73 | 8,55 | 9,55 |
| Announcement Date | 5/22/19 | 5/15/20 | 5/14/21 | 5/10/22 | 5/12/23 | - | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period : March | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 51 687 | 46 065 | 55 044 | 55 198 | 54 789 | 52 603 | 53 752 | 58 285 | 58 101 | 57 393 | 63 289 | 64 692 | 64 715 | 61 935 | 68 329 |
| EBITDA 1 | 12 309 | 7 962 | 13 459 | 12 262 | 12 310 | 7 497 | 11 434 | 13 023 | 14 076 | 11 737 | 14 939 | 15 121 | 15 088 | 12 727 | - |
| EBIT 1 | 9 825 | 5 111 | 10 848 | 9 731 | 9 835 | 4 594 | 8 889 | 10 030 | 11 354 | 8 275 | 12 547 | 12 819 | 12 879 | 9 751 | 13 324 |
| Operating Margin | 19,0% | 11,1% | 19,7% | 17,6% | 18,0% | 8,73% | 16,5% | 17,2% | 19,5% | 14,4% | 19,8% | 19,8% | 19,9% | 15,7% | 19,5% |
| Earnings before Tax (EBT) 1 | 10 215 | 5 437 | 9 955 | 9 958 | 10 541 | 4 478 | 9 746 | 11 004 | 12 181 | 7 454 | 13 746 | 13 757 | 13 362 | 10 751 | - |
| Net income 1 | 7 482 | 4 134 | 7 147 | 7 114 | 7 286 | 3 621 | 6 864 | 7 889 | 8 010 | 5 257 | 9 957 | 9 743 | 9 453 | 7 478 | - |
| Net margin | 14,5% | 8,97% | 13,0% | 12,9% | 13,3% | 6,88% | 12,8% | 13,5% | 13,8% | 9,16% | 15,7% | 15,1% | 14,6% | 12,1% | - |
| EPS 2 | 9,26 | 5,12 | 8,85 | 8,80 | 9,02 | 4,48 | 8,50 | 9,77 | 9,92 | 6,51 | 12,3 | 12,5 | 11,7 | 9,70 | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 1/29/21 | 5/14/21 | 8/5/21 | 10/26/21 | 1/25/22 | 5/10/22 | 7/29/22 | 11/4/22 | 1/25/23 | 5/12/23 | 7/26/23 | - | - | - | - |
1INR in Million2INR
Estimates
Balance Sheet Analysis
| Fiscal Period : March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 36 974 | 18 125 | 1 363 | - | - | - | - | - |
| Net Cash position 1 | - | - | - | 11 043 | 10 443 | 55 176 | 81 787 | 111 337 |
| Leverage (Debt/EBITDA) | 1,19x | 0,57x | 0,03x | - | - | - | - | - |
| Free Cash Flow 1 | 13 311 | 24 957 | 31 255 | 27 818 | 23 971 | 30 751 | 36 677 | 41 372 |
| ROE (net income / shareholders' equity) | 10,4% | 10,1% | 14,1% | 12,9% | 12,7% | 15,4% | 15,0% | 14,7% |
| Shareholders' equity 1 | 146 207 | 153 876 | 170 448 | 195 841 | 221 247 | 255 896 | 292 528 | 329 512 |
| ROA (Net income/ Total Assets) | 6,53% | 6,49% | 9,85% | 9,63% | 9,91% | 12,5% | 12,2% | 12,0% |
| Assets 1 | 234 120 | 238 129 | 244 072 | 261 266 | 282 821 | 313 986 | 359 450 | 406 167 |
| Book Value Per Share 2 | 196 | 196 | 227 | 258 | 290 | 330 | 375 | 424 |
| Cash Flow per Share 2 | 21,0 | 38,0 | 46,5 | 41,2 | 40,1 | 57,5 | 58,5 | 66,1 |
| Capex 1 | 3 601 | 5 728 | 6 297 | 5 441 | 11 829 | 9 909 | 10 194 | 10 089 |
| Capex / Sales | 2,20% | 3,34% | 3,29% | 2,50% | 5,20% | 3,85% | 3,62% | 3,29% |
| Announcement Date | 5/22/19 | 5/15/20 | 5/14/21 | 5/10/22 | 5/12/23 | - | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating :
Investor Rating :
ESG Refinitiv :
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
37
Last Close Price
1,219.1INR
Average target price
1,260.46INR
Spread / Average Target
+3.39%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +12.31% | 11 795 M $ | |
| +22.90% | 35 534 M $ | |
| +32.20% | 20 944 M $ | |
| 0.00% | 13 229 M $ | |
| -15.88% | 8 436 M $ | |
| +52.65% | 7 746 M $ | |
| -0.05% | 6 788 M $ | |
| -8.87% | 5 726 M $ | |
| -0.70% | 4 969 M $ | |
| +48.81% | 4 886 M $ |
- Stock
- Equities
- Stock Cipla Limited - NSE India Stock Exchange
- Financials Cipla Limited
