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Stock Analysis

Description

Cipla is engaged in the Business of Pharmaceuticals.

Key Growth Triggers

Market Leadership, #, # , #, # , #, #, # , # Market Leadership [1] # 3rd largest in the India domestic Rx market # Leadership in Gx # 1st rank in Respiratory # Top 5 in Urology and Anti-infectives. # Over 5 Lac+ no of downloads - Digital Breathe free # 7,500+ field force detailing to HCPs across the country – 85% of physicians prescribe at least one Cipla product. # 3rd largest player in private Rx market in SAGA # Fastest growing generic player in North America.

Order Book

Currently no data available for Order Book.

Key Red Flags

The company has delivered a poor sales growth of 8.51% over past five years.
Promoter holding has decreased over last 3 years: -4.40%

Key Dates To Watch

Board meeting on January 23, 2026, to review and approve unaudited financial results for Q3 FY26.

Corporate Announcements

31st Mar 26

Impact Rating: -

No description available.

30th Mar 26

Impact Rating: 8

Cipla's Board, meeting March 30, 2026, approved Achin Gupta as MD & Global CEO. Saurabh Gambhir and Satyavan Manikani are now Senior Management Personnel from April 1, 2026. Umang Vohra resigns as Director effective April 1, 2026, post his MD tenure.

30th Mar 26

Impact Rating: 7

Cipla's Board meeting on March 30th, 2026, resulted in the categorization of Saurabh Gambhir and Satyavan Manikani as Senior Management Personnel from April 1st, 2026. Umang Vohra resigned as Director.

28th Mar 26

Impact Rating: -

No description available.

26th Mar 26

Impact Rating: 7

Cipla Limited announced successful postal ballot results, with members approving the appointment of Achin Gupta as Managing Director and Global Chief Executive Officer, alongside re-appointing P.R. Ramesh as Independent Director.

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	Sun Pharma.Inds.	1662.25	34.52	398829.51	0.95	3124.95	2.56	14478.31	8.93	20.21	54964.01	30.12	11543.96	3117.95	5.11	12.97	0.07
2.	Divi's Lab.	6252.35	66.77	165980.21	0.47	689.00	35.10	2715.00	16.12	20.44	10029.00	32.37	2485.00	689.00	10.74	13.53	0.01
3.	Torrent Pharma.	4000.80	62.51	135405.25	0.81	591.00	32.49	3302.00	14.30	27.05	12248.00	32.60	2166.53	600.17	16.03	13.26	0.33
4.	Cipla	1396.40	21.71	112797.24	0.94	1210.53	2.75	5225.72	9.44	20.08	20040.66	30.58	5198.39	1210.53	3.38	14.45	0.00
5.	Lupin	2179.20	23.10	99545.55	0.55	1484.83	73.34	7047.51	24.23	21.30	24750.69	27.25	4324.63	1477.92	5.10	12.41	0.32
6.	Dr Reddy's Labs	1176.30	17.05	98177.56	0.67	1336.80	7.28	8828.30	9.83	22.69	34310.00	24.64	5772.20	1347.10	2.74	12.95	0.16
7.	Mankind Pharma	2186.00	51.64	90239.18	0.04	520.18	-22.00	3697.16	20.77	15.98	13545.67	24.12	1748.55	511.51	5.99	8.89	0.55
–	Median: 149 Co.	399.9	29.99	1774.7	0.11	13.49	11.71	161.76	10.58	14.89	591.73	15.93	45.26	13.96	3.15	8.56	0.22

Quarterly Results

Standalone figures in ₹ crores

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	4,151	3,536	3,566	4,318	4,234	4,381	4,037	4,501	4,775	4,971	4,798	5,046	5,226
Expenses	3,090	2,707	2,854	3,114	3,009	3,025	3,209	3,141	3,337	3,309	3,479	3,422	3,703
Operating Profit	1,061	829	711	1,205	1,225	1,356	828	1,360	1,438	1,662	1,319	1,624	1,523
Other Income	107	208	-1	158	319	265	595	214	289	189	588	271	255
Profit before tax	985	901	540	1,226	1,358	1,477	1,281	1,430	1,578	1,704	1,756	1,744	1,633
Tax %	27%	25%	34%	27%	24%	25%	19%	26%	25%	16%	15%	25%	26%
Net Profit	720	679	355	895	1,030	1,114	1,038	1,056	1,178	1,438	1,485	1,303	1,211
EPS in Rs	8.93	8.41	4.40	11.09	12.75	13.80	12.86	13.08	14.59	17.81	18.39	16.13	14.99

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	9,457	10,132	12,118	10,768	11,390	12,374	12,659	11,303	13,092	14,345	16,574	19,045	20,041
Expenses	7,460	8,162	10,064	9,155	9,194	9,869	9,952	8,235	9,725	10,992	12,090	13,266	13,913
Operating Profit	1,996	1,969	2,053	1,613	2,196	2,505	2,707	3,067	3,366	3,353	4,484	5,778	6,128
Other Income	273	140	280	113	257	575	893	654	935	640	1,434	1,279	1,302
Interest	128	136	147	39	12	17	36	45	27	22	20	15	16
Depreciation	324	433	443	500	530	570	600	469	460	596	588	574	577
Profit before tax	1,818	1,540	1,744	1,187	1,911	2,493	2,964	3,208	3,815	3,375	5,310	6,469	6,837
Net Profit	1,388	1,181	1,462	975	1,469	1,888	2,318	2,468	2,958	2,513	4,077	5,158	5,437
EPS in Rs	17.29	14.71	18.20	12.12	18.24	23.44	28.75	30.61	36.66	31.14	50.50	63.86	67.32
Dividend Payout %	12%	14%	11%	16%	16%	13%	14%	16%	14%	27%	26%	25%	–

Balance Sheet

Standalone figures in ₹ crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	161	161	161	161	161	161	161	161	161	161	161	162	162
Reserves	9,931	10,930	11,825	12,640	13,952	15,621	17,242	19,766	22,352	24,477	27,812	31,938	33,083
Borrowings	877	1,381	1,132	324	174	0	6	52	19	50	46	117	125
Other Liabilities	1,955	2,721	2,121	2,482	2,807	2,637	2,997	2,984	2,917	2,908	3,034	3,349	4,075
Total Liabilities	12,924	15,192	15,239	15,607	17,095	18,419	20,406	22,964	25,449	27,596	31,053	35,566	37,445
Fixed Assets	3,524	3,594	3,826	4,236	4,320	4,189	4,151	4,066	3,391	3,809	3,719	3,878	4,268
Gross Block	5,395	5,945	4,268	5,152	5,755	6,161	6,698	7,066	7,388	7,766	8,046	8,689	–
Accumulated Depreciation	1,871	2,351	442	917	1,435	1,972	2,547	2,999	3,997	3,957	4,327	4,811	–
CWIP	377	361	551	556	463	297	320	355	214	504	670	638	581
Investments	3,587	4,421	4,256	4,286	4,637	5,815	7,190	9,726	10,974	11,909	13,794	17,351	17,474
Other Assets	5,436	6,816	6,606	6,530	7,675	8,117	8,745	8,816	10,870	11,374	12,871	13,699	15,121
Total Assets	12,924	15,192	15,239	15,607	17,095	18,419	20,406	22,964	25,449	27,596	31,053	35,566	37,445

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	1,812	1,051	1,728	2,207	1,117	1,468	2,018	3,460	2,773	3,035	3,727	3,301
Cash from Investing Activity	-1,467	-1,194	-1,206	-1,192	-593	-1,148	-1,127	-3,361	-2,464	-2,758	-2,883	-2,309
Cash from Financing Activity	-404	180	-547	-1,011	-351	-473	-694	-66	-427	-425	-709	-1,074
Net Cash Flow	-59	37	-25	5	173	-153	197	33	-117	-148	135	-82

Ratios

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	67	74	57	66	75	93	103	98	54	73	59	74
Inventory Days	244	302	217	234	267	232	255	274	229	242	234	241
Days Payable	93	126	74	114	139	120	136	133	99	121	121	126
Cash Conversion Cycle	217	250	201	185	203	206	222	239	185	195	172	189
Working Capital Days	92	91	88	105	126	145	146	149	163	176	160	154
ROCE %	19%	14%	14%	9%	14%	16%	17%	15%	17%	13%	19%	20%

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	33.61%	33.55%	33.46%	33.46%	33.46%	33.46%	30.91%	30.93%	29.19%	29.20%	29.19%	29.22%
FIIs	28.39%	27.42%	25.49%	25.74%	25.73%	25.82%	27.82%	28.80%	26.65%	26.28%	25.24%	24.54%
DIIs	20.87%	21.83%	24.05%	23.90%	24.05%	24.15%	24.66%	23.95%	27.49%	27.89%	28.98%	29.98%
Public	16.91%	16.99%	16.76%	16.68%	16.53%	16.36%	16.40%	16.11%	16.43%	16.36%	16.30%	15.99%

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

JSW Dulux Notifies Shareholders of Postal Ballot for Key Resolutions

31st March 2026, 2:30 pm

Cipla Appoints Achin Gupta as MD & CEO, Names Senior Management Personnel, Director Resigns

30th March 2026, 11:52 pm

Cipla Announces New Senior Management Appointments and Director Resignation Effective April 1st

30th March 2026, 11:48 pm

Cipla Announces Special Window for Physical Share Transfer and Dematerialisation

29th March 2026, 2:24 am

Cipla Shareholders Approve Key Appointments and Remuneration via Postal Ballot

27th March 2026, 3:43 am

Published by Other Websites

External media mentions & references

US Tariff Threat Hits Indian Pharma Stocks Hard, Index Down 3%

2nd April 2026, 11:10 am

Nifty Eyes 23,200; BSE, Laurus Labs Shine, Cipla Faces Sell-Off

2nd April 2026, 6:43 am

Markets Rally 1.5% on Geopolitical Calm; Nifty Surges Past 22,600

1st April 2026, 4:05 pm

Cipla Stock Hits 2-Year Low on US Woes, Growth Concerns

1st April 2026, 3:14 pm

Nifty Crosses 22,800; IndiGo Soars 8% Amid Geopolitical Watch

1st April 2026, 1:10 pm

News Articles

Editorial & research coverage

AI Fears, Dollar Surge Sink Indian Markets

13th February 2026, 5:18 pm

Pharma Innovation Push: India Faces Execution Hurdles

9th February 2026, 6:36 pm

Hims & Hers Sparks Legal War With Cheaper Wegovy Rival

6th February 2026, 3:06 pm

Cipla Hit by GST Probe Amid Steep Profit Slump; Margins Under Pressure

5th February 2026, 7:35 pm

Indian Markets Pullback on Global Jitters, RBI Policy Looms

5th February 2026, 5:18 pm

Documents

Announcements

Update On Lanreotide Supply Pursuant To US Food And Drug Administration (USFDA) Inspectional Observations In Form 483 On Pharmathen International S.A.

1d - Pharmathen Form 483 (9 observations); Lanreotide production paused; resupply expected H1 FY2026-27.

Announcement under Regulation 30 (LODR)-Earnings Call Transcript

9 Jan - Q3FY26 unaudited results release and earnings call on January 23, 2026 at 1600 IST.

Reply On Clarification Sought By Exchange

7 Jan - Pharmathen received nine USFDA Form 483 observations after Nov 10–21, 2025 inspection; supplies Lanreotide to Cipla USA.

Intimation Under Regulation 30(11) Of The SEBI (LODR) Regulations, 2015 - Clarification On USFDA Inspectional Observations In Form 483 On Pharmathen International S.A.

7 Jan - Pharmathen received nine Form 483 observations after Nov 10–21, 2025 inspection; Cipla evaluating impact.

Clarification sought from Cipla Ltd

7 Jan - Exchange has sought clarification from Cipla Ltd on January 07, 2026, with reference to news appeared in https://www.moneycontrol.com/ dated January 07, 2026 quoting "Cipla shares …