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Cipla
Cipla (CIPLA) investor relations material
Cipla Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 25/26 earnings summary23 Jan, 2026
Executive summary
Q3 FY26 revenue was INR 7,074 crore, flat year-over-year, with strong double-digit growth in India and chronic therapies, but declines in U.S. generics and Lenalidomide sales.
EBITDA margin was 17.7%, impacted by lower generic revenues and increased R&D investments; PAT was INR 676 crore, reflecting a significant YoY decline.
India business grew 10% YoY, led by chronic therapies and consumer health, with key therapies outpacing market growth.
North America revenue was $167 million, with Albuterol maintaining #1 market share, but Lanreotide supply was paused due to USFDA observations.
Strategic alliances included exclusive marketing of Pfizer brands in India, acquisition of Inzpera Healthsciences, and launches of Afrezza and Mounjaro.
Financial highlights
Gross margin was 62.8%, down due to Lenalidomide decline and product mix; EBITDA margin at 17.7%, PAT margin at 9.6%.
R&D spend was INR 419–494 crore (7% of revenue), up significantly YoY.
Net cash position was INR 10,229 crore, with total debt at INR 489 crore; cash balance stood at INR 10,718 crore.
Exceptional item of INR 276 crore (consolidated) recognized due to increased employee benefit liabilities from new labour codes.
PAT dropped 57% YoY to INR 676 crore, impacted by the exceptional item.
Outlook and guidance
FY26 EBITDA margin guidance revised to around 21% due to lower-than-expected lanreotide and Lenalidomide performance.
U.S. revenue guidance for FY27 will be revised downward due to lanreotide supply disruption.
Focus remains on new launches in respiratory and peptide segments, with several significant U.S. launches expected in the next 6–12 months.
FY27 margin guidance will be provided after finalizing the annual operating plan.
Strategic focus on expanding therapy coverage and scaling consumer wellness brands.
Explain confidence in favorable NPPA outcome
New Labour Codes: Any future financial impact
Galvus rights: Expected ROI or strategic value
Exclusivity and market size of key US launches
Strategy to defend margins post REVLIMID exit
Lanreotide supply disruption remediation plan
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Next Cipla earnings date
Q4 25/2612 May, 2026
Cipla
Next Cipla earnings date
Q4 25/2612 May, 2026
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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.
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