CIPLA Announces Quarterly Results (4QFY20); Net Profit Down 35.1%

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CIPLA Announces Quarterly Results (4QFY20); Net Profit Down 35.1%
Tue, 19 May

CIPLA has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

CIPLA Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m44,04043,71043,7620.1%-0.6%
Other incomeRs m95472193229.2%-2.3%
TurnoverRs m44,99344,43144,6940.6%-0.7%
ExpensesRs m34,42936,12737,4273.6%8.7%
Gross profitRs m9,6117,5836,335-16.5%-34.1%
DepreciationRs m5,1032,7793,45824.4%-32.2%
InterestRs m44846253014.8%18.4%
Profit before taxRs m5,0145,0643,279-35.2%-34.6%
TaxRs m1,2781,528856-44.0%-33.0%
Profit after taxRs m3,7363,5362,423-31.5%-35.1%
Gross profit margin%21.817.314.5
Effective tax rate%25.530.226.1
Net profit margin%8.38.05.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 0.6% on a year-on-year (YoY) basis. The expenses were up by 8.7% YoY during the same period.
  • The company's operating profit declined by 34.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.5% in 4QFY20 as against 21.8% in 4QFY19.
  • Depreciation charges declined by 32.2% and finance costs increased by 18.4% YoY, respectively.
  • Other income declined by 2.3% YoY during the quarter.
  • Net profit for the quarter declined by 35.1% YoY. Net profit margins during the quarter declined from 8.3% in 4QFY19 to 5.4% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.6% QoQ during the same period.
  • The company's operating profit declined by 16.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.5% in 4QFY20 as against 17.3% in 3QFY19.
  • Net profit for the quarter declined by 31.5% QoQ, while net profit margins declined from 8.0% in 3QFY19 to 5.4% in 4QFY20.

To see how CIPLA has performed over the last eight quarters,please visit here.

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CIPLA Share Price Performance

Over the last one year,CIPLA share price has moved up from Rs 544.0 to Rs 604.0, registering a Gain of Rs 60.1 or around 11.0%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 15,070.3 (up 1.1%). Over the last one year it has moved up from 13,201.2 to 15,070.3, a gain of 1,869 points (up 14.2%).

Overall, the S&P BSE SENSEX is down 22.1% over the year.

Current Valuations

At the current price of Rs 604.0, the price to earnings (P/E) ratio of CIPLA stands at 31.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.2 times.

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