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Thursday, December 14, 2000

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Cipla's CP gets P1 plus

THE CREDIT Rating Information Services of India (Crisil) has assigned P1 plus rating to the Rs. 15 crore commercial paper programme of Cipla (Cipla).

The rating reflects Cipla's strong market position as one of the leading players in the domestic pharmaceutical industry, its wide product range, leading market shares in various segments, established manufacturing and R&D strengths, and a reasonably strong export presence. Besides an impressive top line growth due to its successful new product introductions, the company enjoys high profitability margins on account of its process re- engineering capabilities and value-added speciality exports. Complementing the strong business profile of the company is an extremely favourable financial profile characterised by low gearing, surplus cash generation from operations and a sizable liquid investment portfolio.

Cipla, one of the leading players in the domestic pharmaceutical market, has presence in a wide range of therapeutic segments with a strong presence in the antibiotic/antibacterials, anti- asthmatics, cardiovasculars, anti-ulcerant, anti-inflammatory, and oncology segments.The company reported a sales of Rs. 759.7 crores and a PAT of Rs. 133.10 crores for 1999-2000. Exports constituted around a fifth of the company's sales for the year.

Corporate Bureau

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