Cipla’s revenue crosses Rs 25,000 crore at 24.5% profitability in FY24

New Delhi: Cipla Limited, a leading pharmaceutical company, recently unveiled its impressive financial results for the fourth quarter and fiscal year 2024. 

For the fiscal year 2024, Cipla’s annual revenue crossed Rs 25,000 crores, achieving a growth rate of 14% year-on-year (YoY). The company’s profitability also witnessed a remarkable increase, reaching 24.5%, representing a YoY growth of 26%. These impressive figures highlight Cipla’s strong performance and its position as a key player in the pharmaceutical industry.

In the fourth quarter of FY24, Cipla reported a total income from operations of Rs 6,163 crores, marking a YoY growth of 10%. The earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 1,316 crores, representing a YoY growth of 13%. The profit after tax (PAT) for the quarter was Rs 939 crores, demonstrating a substantial YoY growth of 79%.

Cipla’s performance across different business segments showcased notable achievements in the fiscal year. In the One India Business segment, the company witnessed a 7% YoY growth, driven by robust performance in branded prescription and trade generics, outpacing market growth. Despite soft seasonal demand, trade generics maintained their leadership position in the market. In North America, Cipla reported a revenue of $226 million, marking an 11% increase YoY, attributed to sustained growth in both differentiated assets and the base portfolio. Meanwhile, in the South Africa Private Market, Cipla achieved remarkable revenue growth of 26% in local currency terms, securing its position as the top player in the prescription market.

The company also prioritized Research and Development, investing Rs 444 crores, equivalent to 7.2% of sales, with a focus on product filings and developmental efforts. Additionally, capital expenditure of Rs 1,315 crores was directed towards enhancing growth and capabilities. Cipla’s strategic inorganic investments, including the acquisition of Actor Pharma and a marketing and distribution partnership with Sanofi, further underscored its commitment to expansion and innovation.

Umang Vohra, MD and Global CEO of Cipla, expressed satisfaction with the company’s performance, “I am pleased to share our performance for the year where we made substantial progress across our focused markets. In FY24, our revenues crossed the threshold of INR 25,000 Cr whereas operating margins significantly improved to cross INR 6,000 Cr for very first time, growing at healthy 14% on topline and 26% on profitability YoY. This was backed by One-India revenue breaching Rs 10,000 crore, North America revenue surpassing $ 900 Mn and South Africa reaching top spot in prescription market, with all three businesses growing in double digits over last year with improved profitability.”

“As we enter into FY25, our focus will be on our priorities of market leading growth in our key markets, growing big brands bigger, investing in future pipeline as well as focusing on resolutions on regulatory front,” added Vohra.