Cipla Q3 Results Review - India, SAGA Businesses Disappoint: Systematix

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Systematix Research Report.Cipla Ltd.’s Q3 FY23 revenue was 7.3%/5.9% below our/consensus estimate as India branded formulation revenue were lower than expected. U.S. sales ramped up on expected lines and on back of growth in peptide portfolio and seasonal benefit. Cipla recorded U.S. sales of $195 million, a growth of 30% YoY and 9% QoQ in constant currency terms. The company’s India and South Africa, Sub-Saharan, and Cipla Global Access business reported a weak set of numbers. SAGA business is currently facing supply issues and is expected to rebound from FY24, while the company is confident of delivering double digit YoY growth in the India business in the future. Launch of gAdvair in the U.S. market was expected in H2 FY23, which has now been delayed to Q1 FY24. Cipla has received a U.S. Food and Drug Administration target action date for Advair in the first week of April 2023. The company also expects to launch two more peptide products in FY24..Click on the attachment to read the full report:.Cipla Q3 Results: Profit Rises, But Misses Estimates.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Cipla Q3 Results Review - India, SAGA Businesses Disappoint: Systematix

Cipla’s Q3 FY23 revenue at Rs 58,101 million, was up 6% YoY but down 0.3% QoQ.

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