Buy Cipla, target price Rs 1140: Emkay Global

Emkay Global has buy call on Cipla with a target price of Rs 1140. The current market price of Cipla Ltd. is Rs 953.8. Time period given by analyst is one year when Cipla price can reach defined target.

Cipla Ltd., incorporated in the year 1935, is a Large Cap company (having a market cap of Rs 76775.91 Crore) operating in Pharmaceuticals sector.

Cipla Ltd. key Products/Revenue Segments include Pharmaceuticals, Other Operating Revenue, Export Incentives,Royalty Income and Scrap for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 5569.28
Crore, up 19.34 % from last quarter Total Income of Rs 4666.58 Crore and up 26.24 % from last year same quarter Total Income of Rs 4411.61 Crore. Company reported net profit after tax of Rs 711.80 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 36.7 per cent stake in the company as of June 30, 2021, while FIIs held 24.8 per cent, DIIs 16.2 per cent and public and others 22.3 per cent.