Cipla

Cipla hit a new 52-week low after it reported a very sharp 69% (YoY) fall in net profit for Q4FY16 at Rs.81 crore though income from operations rose 6% at Rs.3267 crore. This fall can be blamed entirely on various one-time expenses – restructuring expenses, write-off on inventory reduction, changes in payment of Bonus Act. In terms of revenue, domestic sales rose 16% while exports showed a small 3% increase.

EBITDA for the quarter was down 57% at Rs.3266 crore while margins showed a very steep decline from 16.4% to 6.7%. The company had a tax credit of Rs.4 crore and that to some extent arrested a much steeper fall in net profit.

For Fy16, the company’s consolidated net sales showed a 23% rise at Rs.13372 crore and net profit rose 27% at Rs.1506 crore. Equity stands at Rs.161 crore and EPS is at Rs.19 (FV of Rs.2/share). Borowings stand at Rs.5191 crore.