Cipla Q3FY08 Results

Cipla Ltd has announced the following Unaudited results for the quarter ended December 31, 2007:

The Company has posted a net profit after tax of Rs 2106.50 million for the quarter ended December 31, 2007 as compared to Rs 1843.80 million for the quarter ended December 31, 2006. Total Income has increased from Rs 9133.30 million for the quarter ended December 31, 2006 to Rs 11286.90 million for the quarter ended December 31, 2007.

Cipla gets demand notice from Govt of India

With reference to the earlier announcements dated September 05, 2003, December 01, 2003, April 13, 2007, May 05, 2007, November 01, 2007 regarding notices received by the Company from the National Pharmaceutical Pricing Authority, Government of India demanding an aggregate of Rs 991.39 crores alongwith interest which according to them was allegedly overcharged by the Company till March 2007 in respect of drugs listed in the said notices, Cipla Ltd has informed that the Company has now received further demand notice where the Government has demanded an amount of Rs 24.23 crores inclusive of interest which according to them was allegedly overcharged by the Company during the period April 2006 to March 2007 in respect of the drug Ciprofloxacin. The demand is contrary to the orders of the Hon'ble Supreme Court of India and the Company has received legal advice that entire amounts demanded by the Government are not tenable and sustainable.

Cipla pulled up by Govt of India

With reference to the earlier announcement dated September 05, 2003, December 01, 2003, April 13, 2007, May 05, 2007 regarding notices received by the Company from the National Pharmaceutical Pricing Authority, Government of India demanding an aggregate of Rs 941.92 crores alongwith interest which according to them was allegedly overcharged by the Company till March 2006 in respect of five drugs, Cipla Ltd has informed that the Company has now received further demand notice where the Government has demanded an amount of Rs 49.47 crores inclusive of interest which according to them was allegedly overcharged by the Company during the period April 2006 to March 2007 in respect of the drug Salbutamol. These notices are contrary to the orders of the Hon'ble Supreme Court of India and the Company has received legal advice that entire amounts demanded by the Government are not tenable and sustainable.

Cipla Q2 Results

Cipla Ltd has announced the following Unaudited results for the quarter ended September 30, 2007:

The Company has posted a net profit of Rs 1906.20 million for the quarter ended September 30, 2007 as compared to Rs 1802.80 million for the quarter ended September 30, 2006. Total Income has increased from Rs 9120.30 million for the quarter ended September 30, 2006 to Rs 11402.10 million for the quarter ended September 30, 2007.

Citigroup - Cipla

Citigroup recommends a SELL on Cipla

They have a target price of Rs 165

District court ruling against Cipla in the Lexapro adds to the misery

Recent bounce opportunity to sell

Merrill Lynch - Cipla

Profits might be lower in FY08 than FY07

Uncertain margin outlook, rich valuations

Is at Over 25% premium for FY09E earnings

Recommend SELL

Citigroup - Cipla

Citigroup has cut the target price of Cipla from Rs 191 to Rs 165, which is a 14% cut. The feel that there would be sustained pressure in profitability on rupee appreciation and higher costs of imports from China