Cipla falls nearly 3% after Executive Vice Chairperson Samina Hamied steps down

In a strategic move, Samina Hamied, Executive Vice Chairperson of pharmaceutical major Cipla, has announced her resignation from the current position. Despite stepping down from the executive role, Samina will continue to serve as a non-executive director, subject to rotation-based retirement.

The decision, attributed to “personal and family commitments,” was acknowledged by the Board through a regulatory filing on Thursday, officially accepting her resignation letter. Samina Hamied, reflecting on the evolution of Cipla over the past decade, stated, “A decade ago, they believed that Cipla needed an engaged and active promoter from the next generation to steer and strengthen the company. Today, as I step down from my executive position, I am proud to say that Cipla is strong and resilient and ready for the future.”


Cipla, on January 22, disclosed a consolidated net profit of Rs 1,068.4 crore for the quarter ending December 2023. This figure marks a substantial 32.25% increase compared to the same period in the previous year when the net profit stood at Rs 807.8 crore. The reported net profit aligns closely with CNBC TV-18’s estimate of Rs 1,020.4 crore.

In the third quarter of the fiscal year 2023-24, Cipla’s consolidated revenue from operations surged by 13.66%, reaching Rs 6,603.81 crore, as opposed to Rs 5,810.09 crore in the corresponding period a year ago.

Despite these positive financial results, Cipla’s shares witnessed a 2.85% decline, trading at ₹1,330.55 as of 9:15 am. The departure of Samina Hamied from the executive role is viewed as part of a larger promoter strategy, emphasizing the company’s confidence in its strengthened leadership team and its readiness for future challenges.