CIPLA LTD - RESULTS FOR = Q4 FY 2011 = FY 2011 = NPT BELOW COMPARABLE PERIODS IN Q4 FY 11 AND IN FY 11

Cipla Limited

NSE Symbol             CIPLA

CIPLA LTD has declared its 4^th qtr FY 2011 results.

Net Sales for Q4 FY 11 is Rs.1615.22 cr – against Rs.1317.49 cr in Q4 FY 10.The same for FY 11 is Rs.6123.84 Cr – against Rs.5359.52 Cr in FY 10,indicating a healthy increase in sales on qtrly and annual basis.

Total Expenditure is Rs.1436.74 Cr in Q4 FY 11 – against Rs.1166.18 cr in Q4 FY 10. The same for FY 11 is Rs.5234.16 cr – against Rs.4459.59 Cr in FY 10.

Profit from Operations  is Rs.232.46 cr  in Q4 FY 11 – against Rs.   208.51 Cr in Q4 FY 10. The same for FY 11 is Rs.1083.82 cr – against Rs.1165.32 Cr for FY 10. There is a reduction in OPT in  FY 11 compared to FY 10 – due to heavier increase in expenditure.

Profit  before Tax  is Rs.251 cr for Q4 FY 11 – against Rs.348.13 cr for Q4 FY 10. The same for FY 11 is Rs.1158.12 cr – against Rs.1324.99 cr for FY 10. There is a reduction in PBT also in  FY 11 compared to FY 10.

Net Profit after Tax is Rs.214     Cr in Q4 FY 11 – against Rs.275.53 Cr for Q4 FY 10; The same for FY 11 is Rs.967.12 Cr – against Rs.1081.49 Cr for FY 10.

Against a face Value of Rs.2 – the Earning per Share is Rs.2.67 for Q4 FY 11; and Rs.3.43 for Q4 FY 10. The same for FY 11 is Rs.12.05 for FY 11 and Rs.13.69 for FY 10. Thus – overall, CIPLA has produced results below the level of its comparable earlier periods.

RESULTS TABLE :

CIPLA	31-Mar-11	31-Dec-10	30-Sep-10	30-Jun-10	31-Mar-10
Net Sales	161522	150136	157988	142738	131749
Other Operating Income	5398	5231	3547	5238	5720
Increase in SIT /WIP	-6249	-6635	3972	2086	-8872
Raw Materials	66398	57426	53841	52247	56612
Traded Goods	19831	18793	17057	12690	13342
Employees Cost	13075	13509	13758	13756	9986
Depreciation	6965	6525	6391	5482	4948
Other Expenditure	43654	40456	36251	32137	40602
Total Expenditure	143674	130074	131270	118398	116618
Profit from Operations	23246	25293	30265	29578	20851
Other Income	2035	2569	1664	1675	4508
Interest	181	293	28	11	46
Profit before tax	25100	27569	31901	31242	34813
Tax expense	3700	4300	5600	5500	7260
Net Profit	21400	23269	26301	25742	27553
Face Value (In Rs	2	2	2	2	2
Paid Up Equity	16058	16058	16058	16058	16058
Basic EPS	2.67	2.9	3.27	3.21	3.43
Public holding (%)	62.72	62.6	62.43	62.4	62.38

05-05-2011 Cipla Limited has informed the NSE regarding the standalone Results for the quarter ended on 31-MAR-2011 as follows: Net Sales of Rs. 161522 lacs for quarter ending on 31-MAR-2011 against Rs. 131749 lacs for the quarter ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 21400 lacs for the quarter ending on 31-MAR-2011 against Rs. 27553 lacs for the quarter ending on 31-MAR-2010.

NOTE :

In 2003, the Company received notice of demand from the National Pharmaceutical Pricing Authority, Government of India on account of alleged overcharging in respect of certain drugs under the Drug Price Control Order. This was contested before the jurisdictional High Courts wherein it was held in favour of the Company. The orders were challenged before the Hon'ble Supreme Court by the Government. The Hon'ble Supreme Court by separate orders restored the matter to the jurisdictional High Court for interpreting the Drug Policy on the basis of directions and principles laid down by them and also restrained the Government from taking any coercive action against the Company.  The Company has been legally advised that on the basis of these orders there is no probability of demand crystallising. Hence no provision is considered necessary in respect of notice of demand aggregating to Rs.1230.28 crores (inclusive of interest) for the period July 1995 to April 2009.

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