Press release for Q4 and FY 2025-26
CIPLA · price
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Cipla reported FY26 record revenue of INR 28,163 Cr, up 2% YoY, driven by strong One-India growth of 9% (crossing INR 12,500 Cr annual milestone) and One Africa growth of 12% in USD terms. However, North America revenue declined 13% to USD 780 Mn due to pricing headwinds, and EBITDA margin compressed significantly to 21.0% in FY26 vs 25.9% in FY25, while Q4 margin fell to 15.2% from 22.8% YoY. PAT for FY26 was INR 3,879 Cr vs INR 5,273 Cr prior year. The company secured USFDA approval for its first AB-rated gVentolin manufactured from its US facility. Management flagged near-term challenges in certain markets while highlighting growth in chronic therapies and a strong net cash position of INR 10,526 Cr. The Board recommended a dividend of ₹13 per share.
The sharp EBITDA margin compression in both quarterly and annual results is a concern for shareholders. North America's declining contribution and margin pressure suggest the stock may face headwinds despite record revenue and a strong balance sheet.