Cipla Ltd.margin up 200 bps to 18.7%, US $1 Bn exit goal held

Cipla's Q2 FY27 call, held on 27 October 2026, reported revenue of ₹7,404 crore, up 4% on the quarter, and an EBITDA margin of 18.7% excluding other income, up 200 basis points, with profit after tax of ₹878 crore.

One India grew 12% with branded prescriptions up 15%, led by anti-diabetes at +50% including GLP-1, and North America revenue was $172 million, up $10 million. Generic Advair was approved, its first DPI approval from a US plant, and launches in Q3, while a licence with Qilu adds a Keytruda biosimilar and three more significant US launches, two respiratory and one peptide, are expected this year. Management maintained the full-year EBITDA margin guide of 18.5% to 20% and the $1 billion annualised US exit run rate, with Ventolin's ramp tied to supply from a new US plant.

The FDA found seven observations at Pithampur. Of 17 earlier promises, 3 are met, 1 came early, 9 are on track, 1 cannot be checked yet and 3 were not mentioned.