Buy Cipla, target price Rs 1660: ICICI Securities

Cipla Ltd. key Products/Revenue Segments include Pharmaceuticals, Royalty Income, Other Operating Revenue, Export Incentives and Scrap for the year ending 31-Mar-2023.

Mar 01, 2024, 09.45 AM IST

Promoters held 33.47 per cent stake in the company as of 31-Dec-2023, while FIIs owned 25.73 per cent, DIIs 23.92 per cent.

ICICI Securities has buy call on Cipla with a target price of Rs 1660. The current market price of Cipla Ltd. is Rs 1473.5.
Cipla Ltd., incorporated in the year 1935, is a Large Cap company (having a market cap of Rs 119625.11 Crore) operating in Pharmaceuticals sector.

Cipla Ltd. key Products/Revenue Segments include Pharmaceuticals, Royalty Income, Other Operating Revenue, Export Incentives and Scrap for the year ending 31-Mar-2023.

Financials
For the quarter ended 31-12-2023, the company reported a Consolidated Total Income of Rs 6788.44 Crore, down -.96 % from last quarter Total Income of Rs 6854.47 Crore and up 14.58 % from last year same quarter Total Income of Rs 5924.53 Crore. Company reported net profit after tax of Rs 1068.51 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 33.47 per cent stake in the company as of 31-Dec-2023, while FIIs owned 25.73 per cent, DIIs 23.92 per cent.

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