Cipla Promoters To Exit Via Rs 2,000 Crore Block Deal

Cipla Ltd. promoters Samina Hamied and Rumana Hamied will exit the pharmaceutical company and offload stakes worth Rs 2,004 crore through a block deal on Monday. The equity shares will be sold at Rs 1,442 per share, according to the term sheet viewed by NDTV Profit.

The floor price is at a discount of 6% from Friday's closing price of Rs 1,533.90 per share, according to the term sheet. The promoters are going to sell 1.39 crore shares, representing 1.72% in the company.

Kotak Securities Ltd. will be the sole bookrunner for the bulk deal.

Samina Hamied, as of September 2024, held a 1.11% stake, whereas Rumana Hamied held a 0.16% stake in Cipla.

Cipla's consolidated net profit rose 13% to Rs 1,305.01 crore in the second quarter of the current financial year, compared to Rs 1,155.37 crore in the same quarter of the previous fiscal year.

Revenue increased by 5.6% year-on-year for the three months ended September, reaching Rs 7,051.02 crore. Operating income, or earnings before interest, taxes, depreciation, and amortisation, rose 9% year-on-year to Rs 1,885.59 crore. The Ebitda margin expanded by 70 basis points to 26.7% from 26% in the same period the previous year.

The branded prescription segment saw slower growth this quarter, largely due to weaker market growth in anti-infectives, Cipla's key therapy area, which grew by 4.9% compared to over 12% in the previous year.

The consumer health segment registered a 21% year-on-year growth, with flagship brands Nicotex, Omnigel, and Cipladine sustaining their leadership in their respective categories.