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Revenue
₹6,163 Cr
verified against source
Revenue YoY
10%
reported change
EBITDA
Pending
latest reported figure
Source
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record provenance
Actual signal trajectory
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Quarter read
What the record says.
Cipla reported Q4 FY24 revenue of INR 6,163 crore, up 10% YoY, with EBITDA margin expanding 95 bps to 21.4%. Full-year revenue hit a record INR 25,455 crore (+14% YoY) and PAT stood at INR 4,106 crore (16% margin). Growth was driven by One India crossing INR 10,000 crore, North America reaching $906 million (+24% YoY), and South Africa leading prescription market share. Key drivers included branded prescription growth (10% YoY), lanreotide market share of 20.8%, and albuterol share rising to 15.5% in April. Management guided FY25 EBITDA margin of 24.5%-25.5% (up to 100 bps expansion) and capex of INR 1,500 crore. Risks include USFDA observations at Patalganga and Kurkumbh facilities, potential disruption from trade generics channel restructuring, and timing uncertainty for Goa plant reinspection and Abraxane launch.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects EBITDA margin expansion of up to 100 bps over FY24's 24.5%, driven by cost measures and portfolio mix.
- Capital investments planned to enhance manufacturing capability and sustainability.
- Aim to grow top line YoY, backed by commercial execution of existing portfolio and new launches.
- Targeting to launch four peptide assets during the fiscal year.
Risks flagged
- Patalganga received six 483 observations and Kurkumbh one; official classification awaited, potentially delaying product approvals.
- Transition to direct stockist model may cause temporary hiccups in Q1 FY25, impacting trade generics growth.
- Goa plant reinspection expected around July-August 2024; Abraxane launch depends on inspection outcome and subsequent 90-day process.
- As a two-player market, pricing may vary depending on competitor actions, though management aims to grow total value.
Key quotes
- In FY 2024, we recorded our highest ever revenue and EBITDA, including major milestones across our flagship businesses of One India, North America, and South Africa.
- We want Cipla to have a chance to be able to play a formidable role, just like it does in the chemistry side of the world, but also to play that role in the biology side of the world.
- The whole idea is to actually grow that value this year.
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