Cipla (CIPLA) investor relations material

Executive summary

• Achieved record quarterly revenue of INR 7,589 crore, up 8% year-over-year, with robust EBITDA margin of 25% and strong performance across India, US, Africa, and EU markets.

• Profit after tax was INR 1,351 crore, representing 17.8% of sales, with year-over-year growth in both EBITDA and PAT.

• Maintained leadership in chronic therapies in India, expanded consumer health, and launched new products in North America and Africa.

• Unaudited consolidated and standalone financial results for the quarter and half year ended 30th September 2025 were approved and released, with statutory auditors providing an unmodified review conclusion.

• Achin Gupta will become CEO effective January 1, with full responsibilities from April 1.

Financial highlights

• Quarterly revenue grew 8% year-over-year to INR 7,589 crore; half-year consolidated revenue was INR 14,546.91 crore, up from INR 13,744.96 crore year-over-year.

• EBITDA margin at 25%; gross margin at 67% due to product mix and R&D material costs.

• Profit after tax for Q2 FY26 was INR 1,351 crore, with a PAT margin of 17.8%; half-year net profit was INR 2,644.98 crore.

• R&D spend was INR 539 crore, representing 7.1% of revenue.

• Net cash balance at INR 9,901 crore after debt and dividend payout.

Outlook and guidance

• Revised full-year EBITDA margin guidance to 22.75%–24%, reflecting higher R&D spend and lower Revlimid contribution in H2.

• Plans to launch four major respiratory assets in North America by calendar year 2026, including gAdvair in Q4FY26.

• Priorities include regaining growth momentum in India, accelerating new product launches in North America, margin expansion in South Africa, and top-line growth in EMEU.

• R&D spend for the year expected to be 0.5% of revenue higher than planned, focused on complex generics and peptides.

• Management expects a favorable outcome in ongoing litigation with the NPPA and has not made provisions for the related demand notices.