Cipla (CIPLA) Q4 25/26 earnings summary

Executive summary

• Achieved record FY26 revenue of INR 28,163 crore, with double-digit growth across India, North America, and Africa, and robust launches in respiratory, diabetes, and urology segments.

• Maintained strong performance despite headwinds, with strategic partnerships and acquisitions including Eli Lilly, MannKind, Pfizer, and full acquisition of Inzpera Healthscience.

• Audited standalone and consolidated financial results for FY26 were approved, with an unmodified audit opinion from statutory auditors.

• A final dividend of ₹13 per equity share was recommended for FY26, subject to shareholder approval.

• AI-led transformation and new product launches, including Ciplostem and first AB-rated generic Ventolin with CGT exclusivity in the US.

Financial highlights

• FY26 consolidated revenue: INR 28,163 crore; Q4 revenue: INR 6,541 crore.

• EBITDA margin: 15.2% for Q4, 21% for FY26; PAT for FY26: INR 3,879 crore (13.8% margin); Q4 PAT: INR 555 crore.

• Net profit for FY26 was INR 3,861.74 crore; total comprehensive income: INR 4,549.48 crore.

• R&D spend: INR 1,974 crore for FY26 (7% of revenue).

• Net cash and equivalents: INR 10,526–11,140 crore as of March 2026; debt including lease liabilities: INR 258–614 crore.

Outlook and guidance

• Targeting double-digit growth and market outperformance in India, especially in chronic therapies.

• North America aiming for $1 billion run rate by end of FY27, with major respiratory and complex generic filings expected.

• EBITDA margin guidance for FY27: 18.5%-20%, with higher margins expected in H2 as new launches ramp up.

• No contribution from lanreotide included in FY27 guidance.

• Dividend payout planned within 30 days of AGM approval.