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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Cipla
Cipla (CIPLA) investor relations material
Cipla Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 26/27 earnings summary27 Oct, 2026
Executive summary
Q2 FY27 consolidated revenue was INR 7,403.93 crore, down from INR 7,589.44 crore a year earlier; One India recorded its highest-ever quarterly revenue.
U.S. generic Advair Diskus received FDA approval; South Africa private-market growth outpaced the market.
Financial highlights
Revenue was INR 7,404 crore, up 4% QoQ; EBITDA was INR 1,388 crore and margin excluding other income was 18.7%, versus 25.0% a year earlier.
PAT attributable to shareholders was INR 878 crore, or 11.9% of sales, versus INR 1,351 crore and 17.8% a year earlier; consolidated net profit in the financial results was INR 851.51 crore.
Gross margin after material cost was 64.4%; R&D expense, including depreciation, was INR 423 crore, or 5.7% of revenue.
Consolidated H1 revenue was INR 14,523.21 crore versus INR 14,284.46 crore; H1 net profit was INR 1,637.06 crore versus INR 2,644.98 crore.
Outlook and guidance
FY27 EBITDA margin guidance remains 18.5%-20%, with sequential improvement expected in each remaining quarter, supported by U.S. business ramp-up.
U.S. annualized exit revenue run-rate guidance remains $1 billion; growth is expected from Ventolin and Advair ramp-ups and three further significant launches.
Generic Advair is expected to launch in Q3, with revenue building in Q3 and Q4; three pending U.S. launches are expected to receive FY27 approval, subject to FDA timing.
FY R&D expense guidance remains 6%-7% of revenue; full-year tax rate is expected at 27%-27.5%.
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Latest events from Cipla
- FY18 margins expanded and PAT rose 40%, despite US pricing and launch headwinds.CIPLA
Q4 17/18 - Revenue grew 12%, while record margins and cash generation strengthened FY21 performance.CIPLAQ4 20/21
- Record FY22 revenue, with growth led by India, North America and SAGA.CIPLAQ4 21/22
- Record revenue and EBITDA, led by India and North America, amid regulatory and pricing risks.CIPLAQ4 22/23
- Revenue rose 8% as core markets lifted EBITDA margin to 19.4%.CIPLAQ4 18/19
- Core-market growth lifted FY17, but impairments and market pressures constrained reported results.CIPLAQ4 16/17
- Revenue topped ₹10,000 crore, but profit declined as investment and mix pressured margins.CIPLAQ4 13/14
- Revenue rose 11.5%, but profit fell 15% as mix and investment pressured margins.CIPLAQ4 14/15
- Record PAT and stronger cash flow offset COVID-19, pricing and regulatory headwinds.CIPLAQ4 19/20
Next Cipla earnings date
Q3 26/2722 Jan, 2027
Cipla
Next Cipla earnings date
Q3 26/2722 Jan, 2027
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Frequently asked questions
Cipla Limited is an India-based pharmaceutical company engaged in the development, manufacturing, and distribution of generic and branded medicines. The company’s product range spans respiratory, cardiovascular, anti-infective, and other therapeutic areas. Cipla Limited is headquartered in Mumbai, India, and its shares are listed on the NSE.