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Swing Capital

Cipla Ltd

NSE: CIPLA BSE: 500087

Incorporated in 1935, Cipla Ltd is in the business of manufacturing, developing, and marketing a wide range of branded and generic formulations and APIs[1]

₹1,434
52W: ₹1166 — ₹1673
PE 31.3 · Book ₹423 · +239% vs book
Market Cap₹1,15,855 Cr
Stock P/E31.3Price to Earnings
ROCE14.7%Return on Capital
ROE11.2%Return on Equity
Div. Yield0.92%Face Value ₹2

Strengths

  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 26.9%

Weaknesses

  • −The company has delivered a poor sales growth of 10.9% over past five years.
  • −Promoter holding has decreased over last 3 years: -4.34%

Shareholding Pattern

Promoters29.22%
FIIs22.55%
DIIs31.71%
Public16.26%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters30.91%30.93%▲0.029.19%▼1.729.2%▲0.029.19%▼0.029.22%▲0.029.22%29.22%
FIIs27.82%28.8%▲1.026.65%▼2.226.28%▼0.425.24%▼1.024.54%▼0.723.93%▼0.622.55%▼1.4
DIIs24.66%23.95%▼0.727.49%▲3.527.89%▲0.428.98%▲1.129.98%▲1.030.45%▲0.531.71%▲1.3
Public16.4%16.11%▼0.316.43%▲0.316.36%▼0.116.3%▼0.115.99%▼0.316.12%▲0.116.26%▲0.1

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales4,3814,0374,5014,7754,9714,7985,0465,2264,4984,210
Expenses3,0253,2093,1413,3373,3093,4793,4223,7033,7773,643
Operating Profit1,3568281,3601,4381,6621,3191,6241,523721567
OPM %31%21%30%30%33%27%32%29%16%13%
Net Profit1,1141,0381,0561,1781,4381,4851,3031,211617385
EPS ₹13.812.8613.0814.5917.8118.3916.1314.997.644.76

AI Insights

Revenue Trend

Mar 2026 revenue at ₹18,980Cr, down 0.3% YoY. OPM at 23%.

Debt Position

Borrowings at ₹125Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Capex Cycle

CWIP at ₹720Cr (13% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 31.71% (+7.66pp change). FIIs: 22.55% (-2.94pp change). Promoters hold 29.22%.

Margin & Efficiency

ROCE improving from 14% (Mar 2015) to 15% (Mar 2026). Working capital days: 260.

Valuation

PE 31.3x with 14.7% ROCE. Price is 239% above book value of ₹423. Dividend yield: 0.92%.

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