Cipla (CIPLA) Q4 24/25 earnings summary

Executive summary

• Achieved significant milestones and robust financial performance across India, North America, Africa, and EMU, with One India revenue surpassing INR 11,615 crore and North America securing three key new drug approvals.

• Double-digit growth in profitability and margin expansion, with strong launches and market leadership in key therapies.

• Maintained strong net cash position, supporting future growth investments and strategic alliances.

• Audited standalone and consolidated financial results for FY25 were approved with an unqualified audit opinion.

• Board recommended a total dividend of INR 16 per share for FY25, subject to shareholder approval.

Financial highlights

• Q4FY25 revenue at INR 6,730 crore, up 9% YoY; FY25 revenue at INR 27,548 crore, up 8% YoY; EBITDA margin for FY25 at 25.9%.

• FY25 PAT at INR 5,273 crore, up 28.4% YoY; basic EPS (consolidated) for FY25 was 65.29.

• Gross margin for FY25 at 67.6%, up 157 bps YoY; R&D spend at INR 1,524 crore, 5.5% of revenue.

• Net cash position exceeded $1 billion as of March 2025; cash and cash equivalents at INR 588.69 crore.

• Net cash generated from operating activities for FY25 was INR 5,004.98 crore.

Outlook and guidance

• FY 2026 focus: maintain growth momentum in India, maximize commercial execution in North America, margin expansion in South Africa, and deepen EMU market penetration.

• Revenue trajectory expected to remain on a growth path despite generic Revlimid losing exclusivity.

• Projected EBITDA margin for FY 2026 is 23.5%-24.5%; R&D investment to remain within 6%-6.5% of revenue.

• Continued investment in branded and consumer health portfolios in India, with new launches planned.

• Board expects to pay the recommended dividend within 30 days of the AGM.