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Saion Mukharji

Nomura
CIPLA

Cipla Limited

All company calls
Cipla Limited
23 Jul 2026
Open call
  1. Yes. Thank you for taking my question. Can you talk about the accounting change that you mentioned, how has that impacted your growth rates? If you can quantify for the branded markets, particularly India and South Africa?

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  2. Yes. That's right, Ashish. I mean, so you reported 2%, adjusted is 4%. I would assume the change would have impacted mostly the branded market. So, I just wanted to understand, 12% growth in India and minus 5% that you reported in rupee terms in South Africa. Is there an adjusted number for these two markets at least?

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  3. Okay. So, On India, the business has delivered 12% growth. In this quarter, you had tirzepatide plus the Pfizer brand distribution and one small acquisition. So, excluding these, do you think - - well, can you just tell what the growth rate is overall in India?

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