Guidance ledger · Q4 FY26

Cipla CIPLA

3 revisions on record · 3 lowered · 0 raised — the strikethrough is what management used to say

mixed guidance posture · shifted across quarters

Holding view → · latest concall · The pulse

↓ lowered FY27 EBITDA margin (new anchor) Q3 FY26 → Q4 FY26

~~previously refused~~ → 18.5% to 20% (excluding Lanreotide)

“We expect the EBITDA margins to be in the range of 18.5% to 20%”

↓ lowered FY26 EBITDA margin Q2 FY26 → Q3 FY26

~~22.75% to 24%~~ → around 21%

“choices and will lead to FY’26 EBITDA margin guidance to land at around 21%”

↓ lowered FY26 EBITDA margin Q1 FY26 → Q2 FY26

~~23.5% to 24.5%~~ → 22.75% to 24%

“guidance to about 22.75% to 24%. The earlier guidance was 23.5% to 24.5%”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.