India · Delayed Price · Currency is INR Cipla Earnings Call Transcripts
Fiscal Year 2027
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Q1 FY27 saw record revenue of INR 7,119 crore, with strong growth in India and North America, and robust launches in chronic and respiratory therapies. EBITDA margin was 16.7%, with guidance maintained at 18.5%-20% for FY27, contingent on new product launches. North America targets a $1 billion EBIT run rate by year-end.
Fiscal Year 2026
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Q4 and FY26 saw robust growth across all geographies, with India and North America leading performance and key regulatory approvals boosting the pipeline. FY27 guidance targets double-digit India growth, a $1B U.S. run rate, and 18.5%-20% EBITDA margin, with risks from geopolitical factors.
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Q3 FY26 revenue was flat YoY at INR 7,074 crore, with strong India growth offset by U.S. generic declines and supply disruptions. EBITDA margin fell to 17.7% due to lower Lenalidomide and lanreotide sales, but new launches and pipeline investments are expected to drive future growth.
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Record quarterly revenue of INR 7,589 crore was achieved, with 8% year-over-year growth and a 25% EBITDA margin. Strategic launches, robust U.S. and India performance, and higher R&D spend led to revised EBITDA margin guidance of 22.75%-24%.
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Q1 FY26 saw 4% YoY revenue growth to INR 6,957 crore and a 25.6% EBITDA margin, with strong performance in India, North America, and Africa. New launches and a robust pipeline are set to offset price erosion and drive future growth, while guidance for FY26 EBITDA margin remains at 23.5%-24.5%.
Fiscal Year 2025
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Q4 FY25 saw 9% YoY revenue growth and record annual results, with strong performance across India, North America, Africa, and EMU. EBITDA margin exceeded guidance, and the outlook remains positive despite margin headwinds from generic Revlimid.
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Quarterly revenue and EBITDA margins reached record highs, driven by strong growth in India, Africa, and EMEU, while U.S. performance was impacted by supply issues and regulatory delays. Guidance for FY25 EBITDA was raised, with key product launches in the U.S. expected in FY26.
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Quarterly revenue grew 9% YoY to INR 7,051 crore, with record EBITDA margin of 26.7%. North America faced temporary lanreotide supply issues, while India chronic therapies and Africa segments outperformed. Margin guidance for FY25 remains at 24.5%-25.5%.
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Revenue grew 7% YoY to INR 6,694 crore, with strong performance in India, North America, and South Africa. EBITDA margin rose to 25.6%, and gross margin improved due to favorable product mix. Regulatory and supply risks remain, but guidance for EBITDA margin and ROIC is maintained.