Buy Cipla., target price Rs 1022: ICICI Direct

ICICI Direct has buy call on Cipla with a target price of Rs 1022. The current market price of Cipla is Rs 1014. Time period given by analyst is Intra Day when Cipla price can reach defined target. ICICI Direct recommended to keep stop loss at Rs 1000.8.

Cipla, incorporated in the year 1935, is a Large Cap company (having a market cap of Rs 81728.03 Crore) operating in Pharmaceuticals sector.

Cipla key Products/Revenue Segments include Pharmaceuticals, Royalty Income, Other Operating Revenue, Export Incentives and Scrap for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 5873.93 Crore, down -.85 % from last quarter Total Income of Rs 5924.53 Crore and up 10.32 % from last year same quarter Total Income of Rs 5324.35 Crore. Company has reported net profit after tax of Rs 523.12 Crore in latest quarter.

The company’s top management includes Dr.Y K Hamied, Ms.Punita Lal, Mr.Adil Zainulbhai, Dr.Peter Mugyenyi, Mr.Robert Stewart, Mr.P R Ramesh, Mr.Ashok Sinha, Mr.S Radhakrishnan, Mr.Umang Vohra, Ms.Samina Hamied, Mr.M K Hamied, Dr.Mandar Vaidya. Company has Walker Chandiok & Co. LLP as its auditors. As on 31-03-2023, the company has a total of 81 Crore shares outstanding.

Investment Rationale
Price closed above previous gap down area suggest further upsides in coming sessions.

Promoter/FII Holdings
Promoters held 33.55 per cent stake in the company as of 31-Mar-2023, while FIIs owned 27.42 per cent, DIIs 21.72 per cent.