Integrated Filing — IndAS



General information about company

Scrip Code 500087
NSE Symbol CIPLA
MSEI Symbol NOTLISTED
ISIN INE059A01026
Name of company CIPLA LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2026
Date of end of financial year 31-03-2027
Date of board meeting when results were approved 27-10-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 28-09-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Single segment
Description of single segment Pharmaceutical and related products
Start date and time of board meeting 27-10-2026   10:00:00
End date and time of board meeting 27-10-2026   13:30:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2026 01-04-2026
B Date of end of reporting period 30-09-2026 30-09-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 7,40,393.00 14,52,321.00
Other income 15,116.00 36,206.00
Total income 7,55,509.00 14,88,527.00
2 Expenses
(a) Cost of materials consumed 1,52,374.00 2,88,067.00
(b) Purchases of stock-in-trade 1,31,259.00 2,56,429.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (20,259.00) (14,404.00)
(d) Employee benefit expense 1,47,461.00 2,97,202.00
(e) Finance costs 1,674.00 3,377.00
(f) Depreciation, depletion and amortisation expense 34,486.00 64,910.00
(f) Other Expenses
1 Other Expenses 1,90,780.00 3,67,019.00
Total other expenses 1,90,780.00 3,67,019.00
Total expenses 6,37,775.00 12,62,600.00
3 Total profit before exceptional items and tax 1,17,734.00 2,25,927.00
4 Exceptional items 0.00 0.00
5 Total profit before tax 1,17,734.00 2,25,927.00
6 Tax expense
7 Current tax 37,233.00 76,511.00
8 Deferred tax (5,151.00) (14,946.00)
9 Total tax expenses 32,082.00 61,565.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 85,652.00 1,64,362.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method (501.00) (656.00)
16 Total profit (loss) for period 85,151.00 1,63,706.00
17 Other comprehensive income net of taxes 13,430.00 32,836.00
18 Total Comprehensive Income for the period 98,581.00 1,96,542.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 87,754.00 1,66,659.00
Total profit or loss, attributable to non-controlling interests (2,603.00) (2,953.00)
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 1,01,280.00 1,99,542.00
Total comprehensive income for the period attributable to owners of parent non-controlling interests (2,699.00) (3,000.00)
21 Details of equity share capital
Paid-up equity share capital 16,157.00 16,157.00
Face value of equity share capital 2 2
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 10.86 20.63
Diluted earnings (loss) per share from continuing operations 10.85 20.62
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 10.86 20.63
Diluted earnings (loss) per share from continuing and discontinued operations 10.85 20.62
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1. The above financial results are prepared in accordance with the Indian Accounting Standard prescribed under section 133 of the Companies Act, 2013 and are in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended). 2. The National Pharmaceutical Pricing Authority (“NPPA”) issued several demand notices to the Company commencing from the year 1998 seeking recovery of alleged overcharge regarding scheduled drugs under the Drugs (Prices Control) Orders-1995 (“DPCO”). In 1999 and 2000, the Company filed writ petitions before the Hon’ble Bombay High Court (“Bombay HC”) challenging inclusion of certain drugs under DPCO and challenging the demand notices issued by NPPA demanding payment of alleged overcharged amounts. On 31st August, 2001, by way of its common judgment, the Bombay HC decided the writ petitions in favor of the Company, thereby holding that these drugs do not fall within the purview of DPCO and also quashed the demand notices raised by NPPA. The NPPA appealed the order to the Hon’ble Supreme Court (“SC”). On 1st August, 2003, SC set aside the Bombay HC judgment and remanded the matter to the Bombay HC for being considered afresh by it. Further, the SC stayed recovery of 50% of the alleged overcharged amounts subject to payment of the remaining 50% of the alleged overcharged amounts pending fresh determination by the Bombay HC. Accordingly, in terms of SC’s Judgment the Company deposited an amount of Rs 175.08 Crore with NPPA, representing 50% of the alleged overcharged amounts in respect of demand notices raised till 2003. Post 2003, the Company continued to receive demands (“Subsequent demands”) alleging overcharging. These demands included several duplicate demands. In 2019, the Company applied to the Bombay HC to amend its pleadings to include: (i) subsequent demands (ii) take on record the NPPA/ Government of India’s RTI response on unavailability of any records pertinent to and what should have been the basis for inclusion of these drugs under the DPCO (iii) deduction of trade margin of 16% from outstanding demands (as having not accrued to the Company, as manufacturer) basis the Allahabad HC’s TC Healthcare judgment (iv) re-calculation of interest from the due date of demand notice and (v) duplication of several demands. The Bombay HC vide order dated 23rd February, 2024 allowed the amendment conditional upon the Company depositing 50% of the subsequent demands raised. The Company appealed the Bombay HC order in a special leave petition before the SC. On 19th April, 2024, the SC was pleased to issue notice and the matter is pending to be heard further. Without prejudice to the Company’s position of no amount being due towards the alleged overcharge (principal) or consequential interest, on 15th July, 2025 the Company has voluntarily deposited with the NPPA an additional amount of Rs 27.07 Crore towards the principal against certain demand notices. The Company has reviewed all the notices/communications received which are attributable to the Company and are under litigation. After removing duplications as indicated above, the amount covered by the notices/communications aggregates to Rs 2,011 Crore with the principal of Rs 863 Crore and interest of Rs 1,148 Crore. The above demand notices do not include certain demand notices, jointly addressed to Okasa Pharma Private Limited or Okasa Limited (related parties and promoter group companies, collectively “Okasa), and the Company. These pertain to products manufactured by Okasa and marketed by Cipla. The Company responded to these demand notices (amounting to Rs 9.96 Crore), stating that it is not the manufacturer and therefore not liable. These demand notices are also subject matter under Business Transfer Agreement between Okasa and Cipla’s subsidiary which excludes the DPCO liability as part of the business transferred by Okasa to the subsidiary. Further, Okasa has independently challenged these demand notices before the Hon’ble Bombay HC. The Company has been legally advised that it expects a favourable outcome in respect of these matters and therefore no provision is considered necessary in respect of the aforementioned demand notices received till date including demand notices addressed singly/ jointly w.r.t transactions with Okasa 3. The paid-up equity share capital stands increased to Rs 161.57 Crore (80,78,70,615 equity shares of face value Rs 2 each) upon allotment of 19,350 (half year ended 30th September, 2026 - 74,253) equity shares and 5,949 (half year ended 30th September, 2026 - 13,731) equity shares of Rs 2 each pursuant to ESOS 2013-A and “Cipla ESAR Scheme 2021” respectively during the quarter ended 30th September 2026. 4. Effective 21st November, 2025, The Government of India had consolidated multiple existing labour legislations into a unified framework comprising four Labour Codes collectively referred to as the 'New Labour Codes'. Pursuant to the Group's assessment performed as at 31st December, 2025, the Group recognized an incremental gratuity liability arising from past service cost and an increase in leave liability aggregating Rs 275.91 Crore, primarily due to the revised definition of “wages” applicable to employees and contract labour. Considering the materiality and non-recurring nature of this change, the Group has presented such incremental expenses under “Exceptional Item” in the financial results. 5. The unaudited standalone financial results for the quarter and half year ended 30th September, 2026 are available on the Company’s website i.e. www.cipla.com under Investor Information section and on the stock exchange websites i.e. www.bseindia.com and www.nseindia.com. 6. Operating segment information is presented in a manner consistent with the internal reporting reviewed by the Group’s Chief Operating Decision Maker (“CODM”) for the purpose of allocating resources and assessing performance. The CODM of the Group is the Chief Executive Officer, who is responsible for making strategic decisions. During the year ended 31st March 2026, the Group reassessed its operating segments consequent to a change in the CODM. Based on this reassessment, the Group has determined that it operates as a single operating segment, namely Pharmaceutical and related products. Accordingly, the comparative information for the previous year has been restated, wherever necessary, to reflect the Group as operating under a single reportable segment, in accordance with Ind AS 108 - Operating Segments. 7. During the year ended 31st March 2026, the group has recorded an impairment of Rs 42.02 Crore in the financial results in respect of associates, on account of change in certain business conditions and market dynamics. 8. The Board of Directors of the Company, at its meeting held on 19th March 2026, approved the Scheme of Amalgamation of Inzpera Healthsciences Limited, a wholly owned subsidiary of the Company (the “Transferor Company”), with Cipla Limited (the “Transferee Company” or the “Company”). The Scheme of Amalgamation is subject to the necessary approvals required under the Companies Act, 2013, including the approval of the Hon’ble National Company Law Tribunal (“NCLT”), Mumbai. The Company has filed the Scheme with the Hon’ble NCLT and its approval is awaited. 9. Effective 1st April, 2026, the Group presents certain marketing and promotional expenditures as a reduction from Revenue from Operations. The Group believes that this presentation provides more relevant information on the Group’s financial performance. In the comparative periods, these amounts were presented under Sales promotion expenses within Other Expenses and amounted to Rs 131.27 Crore, Rs 246.47 Crore and Rs 528.29 Crore for the quarter ended 30th September, 2025, half year ended 30th September, 2025 and year ended 31st March, 2026, respectively. This change relates solely to presentation and has no impact on Profit for the period/year, Earnings per Share, Total Equity or Cash Flows 10. The above results have been reviewed and recommended to the Board of Directors by the Audit Committee and subsequently approved by the Board of Directors at its meeting held on 27th October, 2026. These results have been subjected to limited review by statutory auditors who have expressed an unmodified review conclusion.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2026
Date of end of reporting period 30-09-2026
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 6,55,459.00
Capital work-in-progress 1,71,140.00
Investment property 0.00
Goodwill 3,85,441.00
Other intangible assets 2,64,886.00
Intangible assets under development 60,349.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 10,590.00
Non-current financial assets
Non-current investments 44,557.00
Trade receivables, non-current 0.00
Loans, non-current 149.00
Other non-current financial assets
1 Other financial assets 18,734.00
Total of other non-current financial assets 18,734.00
Total non-current financial assets 63,440.00
Deferred tax assets (net) 96,657.00
Other non-current assets
1 Non- Current tax assets (net) 56,321.00
2 Other non-current assets 72,953.00
Total of other non-current assets 1,29,274.00
Total non-current assets 18,37,236.00
2 Current assets
Inventories 6,77,844.00
Current financial asset
Current investments 6,13,414.00
Trade receivables, current 5,99,988.00
Cash and cash equivalents 1,65,917.00
Bank balance other than cash and cash equivalents 44,500.00
Loans, current 2,720.00
Other current financial assets
Total of other current financial assets 2,39,053.00
Total current financial assets 16,65,592.00
Current tax assets (net) 0.00
Other current assets
1 Other current assets 1,62,644.00
Total of other current assets 1,62,644.00
Total current assets 25,06,080.00
3 Non-current assets classified as held for sale 117.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 43,43,433.00
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 16,157.00
Other equity 35,23,393.00
Total equity attributable to owners of parent 35,39,550.00
Non controlling interest 12,672.00
Total equity 35,52,222.00
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 13,113.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities
1 Lease Liabilities 33,823.00
2 Other Financial liabilities 16,689.00
Total of other non-current financial liabilities 50,512.00
Total non-current financial liabilities 63,625.00
Provisions, non-current 14,967.00
Deferred tax liabilities (net) 9,640.00
Deferred government grants, Non-current
Other non-current liabilities
1 Other Non-current liabilities 5,286.00
Total of other non-current liabilities 5,286.00
Total non-current liabilities 93,518.00
Current liabilities
Current financial liabilities
Borrowings, current 13,630.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 21,991.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 3,04,610.00
Total Trade payable 3,26,601.00
Other current financial liabilities
1 Lease Liabilities 9,381.00
2 Other current financial liabilities 89,946.00
Total of other current financial liabilities 99,327.00
Total current financial liabilities 4,39,558.00
Other current liabilities 31,719.00
1 Other current liabilities 31,719.00
Total of other current liabilities 31,719.00
Provisions, current 2,13,690.00
Current tax liabilities (Net) 12,726.00
Deferred government grants, Current
Total current liabilities 6,97,693.00
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 7,91,211.00
Total equity and liabilites 43,43,433.00
Disclosure of notes on assets and liabilities Textual Information(1)



Text Block

Textual Information(1) Notes: i. The above statement of cashflow has been prepared under the ‘Indirect Method’ as set out in Indian Accounting Standard (Ind AS) 7-Statement of Cash Flows. ii. Purchase and sale of property, plant and equipment represents additions and deletions to property, plant and equipment and investment properties adjusted for movement of capital work in progress, capital advances, capital creditors during the period.



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2026 01-04-2026
Date of end of reporting period 30-09-2026 30-09-2026
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2026 01-04-2026
B Date of end of reporting period 30-09-2026 30-09-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Items that will not be reclassified to profit or loss (198.00) 2,227.00
Total Amount of items that will not be reclassified to profit and loss (198.00) 2,227.00
2 Income tax relating to items that will not be reclassified to profit or loss (51.00) 559.00
3 Amount of items that will be reclassified to profit and loss
1 Items that will be reclassified to profit or loss 14,610.00 33,484.00
Total Amount of items that will be reclassified to profit and loss 14,610.00 33,484.00
4 Income tax relating to items that will be reclassified to profit or loss 1,033.00 2,316.00
5 Total Other comprehensive income 13,430.00 32,836.00



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2026
B Date of end of reporting period 30-09-2026
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 2,25,927.00
Adjustments for reconcile profit (loss)
Adjustments for finance costs 3,377.00
Adjustments for decrease (increase) in inventories (11,768.00)
Adjustments for decrease (increase) in trade receivables, current (38,226.00)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 1,922.00
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 0.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current (600.00)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities (23,891.00)
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 64,910.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 0.00
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 0.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains (4,962.00)
Adjustments for dividend income 0.00
Adjustments for interest income 10,810.00
Adjustments for share-based payments 1,832.00
Adjustments for fair value losses (gains) (1,365.00)
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow (21,920.00)
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items 369.00
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) (41,132.00)
Net cash flows from (used in) operations 1,84,795.00
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 62,928.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 1,21,867.00
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 1,383.00
Purchase of property, plant and equipment 91,664.00
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 24,466.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 960.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 12,121.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 1,48,171.00
Net cash flows from (used in) investing activities 44,585.00
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 1.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 851.00
Repayments of borrowings 865.00
Payments of lease liabilities 5,289.00
Dividends paid 1,05,020.00
Interest paid 2,386.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 7,186.00
Net cash flows from (used in) financing activities (1,05,522.00)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 60,930.00
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 2,966.00
Net increase (decrease) in cash and cash equivalents 63,896.00
Cash and cash equivalents cash flow statement at beginning of period 1,01,539.00
Cash and cash equivalents cash flow statement at end of period 1,65,435.00