Cipla Q1 FY27: Record INR7,100cr revenue, maintains US $1bn exit guidance

Cipla posted highest ever Q1 revenue of INR7,119cr (+2% YoY, 4% adjusted). India business grew 12% with branded Rx up 15.4% per IQVIA. North America at $162M; US pipeline of 4 major launches (3 respiratory including generic Advair, 1 peptide) on track for $1bn FY27 exit rate. Generic Ventolin launched in US. EBITDA margin at 16.7% (below steady state), FY27 guidance of 18.5-20% maintained. Net cash INR9,494cr post INR1,050cr dividend. CFO transition from Ashish Adukia to Dinesh Jain.