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Below is quote on Cipla Limited Q1FY22 results by Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd   

Cipla reported a better than expected number for Q1FY22.

Cipla has reported top-line growth of 27% YoY at ₹5,504 crores, on the back of growth in domestic business as well as API business. In the domestic business, the company has reported chronic growth of 16% which is better than the market growth of 12% along with support from the covid portfolio due to the second wave in India.

SAGA market has also reported revenue growth of 13% as the company continues to gain market share. USA business has reported revenue growth of 5%, the company continues its market share expansion in Albuterol.On the EBITDA margin front company has reported EBITDA margins of 24.5% improved by 32 bps YoY and reported EBITDA of ₹1,346 crores.

Cipla Limited has reported another strong set of numbers for Q1FY22, domestic market growth was better than expected, and the company was able to report growth in the US market on the back of Albuterol. We have a positive outlook on Cipla Limited. 

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