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Indian drugmaker selling generic and branded respiratory, anti-infective and other medicines, plus APIs, across India, the US and Africa.
Indian drugmaker selling generic and branded respiratory, anti-infective and other medicines, plus APIs, across India, the US and Africa.
India and the US are the two biggest markets: at home it sells branded prescription and consumer-health medicines through chemists, while in the US it sells generics, led by respiratory products. Founded in 1935, the Hamied family is still a leading shareholder; it was an early supplier of low-cost HIV drugs to Africa.
In one line: A smaller Viatris.
Moat: narrow (regulatory licence, brand, process know-how). One of few Indian firms with complex-generic (inhaler) US approvals; strong India retail brand.
Headquarters: Mumbai, India · Founded: 1935 · Employees: 47,496
Size Cipla (CIPLA.NS) is an India Health Care company (Pharmaceuticals: Other) with a market value of $12.1B, the 98th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,411 on 6 Nov 2026.
Performance Over six months the shares gained 3.6%, against -6.7% for the median peer and 0.0% for the India market (cap-weighted) — 5th highest of 11 in its peer set.
Growth Revenue fell 0.7% over the last twelve months (peer median +10.3%); the operating margin is 12.5% (peer median 22.4%).
Valuation It trades at 29.0× forward earnings against a peer median of 18.1× (2nd most expensive of 8).
Price implies For today's price to make sense, revenue must grow about 28% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is +20 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.6 points below its cost of capital (12.0% WACC).
Next results Next results expected around 22 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹281B | ₹281B | ₹275B | ₹257B | ₹227B |
| Revenue growth | — | +2% | +7% | +13% | — |
| Gross profit | ₹109B | ₹100B | ₹108B | ₹99.4B | ₹80.5B |
| EBITDA | ₹48.3B | ₹59.7B | ₹71.3B | ₹63.6B | ₹50.8B |
| Net income | ₹29.0B | ₹38.8B | ₹52.7B | ₹41.2B | ₹28.0B |
| Free cash flow | n/a | ₹25.5B | ₹40.7B | ₹31.8B | ₹24.5B |
| Capital expenditure | n/a | ₹30.8B | ₹15.5B | ₹13.5B | ₹11.8B |
| Total debt | ₹6.99B | ₹6.14B | ₹4.38B | ₹5.59B | ₹8.03B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Cipla CIPLA.NS | $12.1B | +4% | -1% | 13% | 29.0× | 28.2% |
| Sun Pharmaceutical Industries SUNPHARMA.NS | $47.3B | +1% | +12% | 23% | 35.4× | 28.4% |
| Dr. Reddy's Laboratories DRREDDY.NS | $12.1B | +5% | -4% | 9% | 31.8× | 30.1% |
| Lupin LUPIN.NS | $9.65B | -19% | +24% | 24% | 20.9× | 8.8% |
| Teva Pharmaceutical Industries Limited Sponsored ADR TEVA | $49.7B | +19% | -4% | 19% | 15.1× | 10.2% |
| Viatris VTRS | $22.9B | +17% | +5% | 10% | 7.5× | 12.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CIPLA.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.3% | +3.2% | 5th highest of 11 |
| 6-month return | +3.6% | -6.7% | 5th highest of 11 |
| Distance from 52-week high | -8.4% | -21.8% | 2nd highest of 11 |
| Revenue growth (TTM) | -0.7% | +10.3% | 3rd lowest of 9 |
| Operating margin | 12.5% | 22.4% | 3rd lowest of 9 |
| Forward P/E | 29.0× | 18.1× | 2nd most expensive of 8 |
| Growth the price implies (Req g, 7 yrs) | 28.2% | 1.0% | 2nd most demanding of 9 |
| Growth delivered (Del g) | +8.1% | +6.1% | 4th highest of 9 |
| Hurdle (Req g minus delivered) | +20.1 pp | -2.6 pp | 2nd most demanding of 9 |
| ROIC minus cost of capital | -2.6 pp | +9.1 pp | 2nd lowest of 9 |
| EV / EBITDA | 22.0× | 10.2× | most expensive of 4 |
| Net debt / EBITDA | -1.6× | -0.1× | least indebted of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Cipla CIPLA.NS | India | $12.1B | +4% | -1% | 13% | 29.0× | 28.2% | +8.1% |
| Zhejiang NHU 002001.SZ | China | $12.3B | -23% | +11% | 33% | 9.9× | -7.8% | +16.7% |
| Aurobindo Pharma AUROPHARMA.NS | India | $10.9B | +22% | +14% | 15% | 22.4× | 21.0% | +6.3% |
| Lupin LUPIN.NS | India | $9.65B | -19% | +24% | 24% | 20.9× | 8.8% | +13.0% |
| Abivax ABVX.PA | France | $7.58B | -25% | n/a | n/a | n/a | n/a | n/a |
| Dong-E-E-Jiao 000423.SZ | China | $4.80B | -8% | +8% | 29% | 17.1× | -4.6% | +14.5% |
| Shijiazhuang Yiling Pharmaceutical 002603.SZ | China | $4.02B | -6% | +32% | 21% | 18.1× | -3.2% | -2.2% |
| Revolution Medicines RVMD | United States | $41.2B | +36% | n/a | n/a | n/a | n/a | n/a |
| Guangdong Zhongsheng Pharmaceutical 002317.SZ | China | $3.13B | +35% | -14% | 9% | 80.3× | 34.7% | +5.9% |
| Bausch Health Companies BHC.TO | Canada | $3.09B | +48% | +10% | 27% | 1.9× | -14.5% | +5.9% |
| Jilin Aodong Pharmaceutical 000623.SZ | China | $3.02B | -9% | -4% | -13% | n/a | 5.2% | +1.0% |