Views on Cipla 4QFY2014 results - Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking) on Cipla 4QFY2014 results:

"Cipla, posted numbers much below expectations on net profit level, on back of lower than expected OPM, while the sales were above expectations. During the quarter the company, posted net sales of Rs. 2,429cr V/s Rs. 2,382cr expected, posting a yoy growth of 27.3%. The growth was aided by the exports, which grew by 31.5%, while the domestic sales grew by 19.3%. On the operating front, Its OPM (excluding technical know-how fees) came in at 13.1% V/s 21.2% expected; which lead the net profit to come in at Rs. 261cr v/s Rs. 361cr expected, down by 5.8% yoy. The dip in the OPM, was on back of the GPM declining by 4.3%, on back of higher proportion of the export mix, in the sales (62.6% V/s 60.3% in the last corresponding period). Currently, we have a buy with a target price of Rs. 495."

Shares of CIPLA LTD. was last trading in BSE at Rs.395.55 as compared to the previous close of Rs. 387. The total number of shares traded during the day was 292155 in over 6941 trades.

The stock hit an intraday high of Rs. 397 and intraday low of 387. The net turnover during the day was Rs. 114712219.

Source : Equity Bulls

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