BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Religare maintains hold on Cipla
Cipla's Q4 EBITDA of Rs220 crore is 66 per cent below our estimates due to inventory write-offs, higher R&D expenses. Cipla's operating margins at 13.6 per cent is 450-500 basis points below estimates. We reduce earnings per share estimates of Cipla for FY2017/18 by 12 per cent and10 per cent respectively.