CIPLA LIMITED
Cipla Limited is an Indian multinational pharmaceutical company, headquartered in Mumbai, India. They have extended their presence to 80+ countries providing over 1,500 products across various therapeutic categories in 50+ dosage forms. To make healthcare more affordable globally, they are deepening their presence in the key markets of India, South Africa, the U.S. among other economies of the emerging world. CIPLA’s business model is driven by the OneCipla Credo and their purpose of Caring for Life. These encourage and inspire their employees and partners to strive for excellence in what they do, keeping ethics, transparency and good governance practices in mind.
Pharma major Cipla Limited announced that it has signed a royalty-free, non-exclusive voluntary licensing agreement with Eli Lilly and Company, USA, for the manufacturing and commercialization of rheumatoid athritis drug – Barichitinib for treatment of Covid-19 patients. The company has recently associated with GoApptiv and acquired their 21.85% shares, they have incorporated a wholly owned subsidiary – Iconphygital. The shareholding pattern is divided into: Promoter and Promoter groups having 36.73% shares, DII’s having 17.18% shares, FII’s having 23.25% shares, and Public having 22.84% shares.
Cipla has been at forefront in battling the deadly virus by taking various steps like : Baricitinib was issued a restricted emergency use approval by the Central Drugs Standard Control Organization (CDSCO), Union Ministry of Health, for use of the drug in combination with Remdesivir for the treatment of suspected or laboratory confirmed Covid-19 patients. The company recently announced a INR 25 Cr. fund to support the Indian Government’s efforts to combat the pandemic. They have also contributed 5 Lac Sanitizers, 1 Lac masks, 25000 PPE kits to the health workers.
For the quarter ending 31-03, the company has recorded a decrease of 10.87% from last quarter and stands at Rs. 4606.45 Cr. (Q4), their profit has also decreased by 44.74% from last quarter and now stands at Rs.413.38% Cr. (Q4). Their EPS value is Rs.5.13 Cr. against Rs.9.28 Cr. in the last quarter. The board of directors have recommended a final dividend of Rs.5 per equity share of the year ending 03-2021.
Although the company recorded a decrease in revenue from the last quarter, it grew by 5.3% YoY, with North American business showing a 17% YoY growth India business 4% growth. Their profit also jumped by 72% YoY basis. The Mumbai-based firm is expected to show even higher profit percent in the coming quarters. After announcing the dividend, the company’s stock also hit an intraday high of Rs.966 and the net turnover during the day was Rs.588143144.
