
Sun Pharmaceuticals Ltd., India’s largest drugmaker, released its financial results for the April-June quarter, showing a mixed performance across different segments.
Key Highlights
- US Formulation Sales:
- Reported sales of $466 million, a decline of 1% compared to the same quarter last year.
- This figure was below the estimated $518 million.
- US formulations contributed to 31.1% of Sun Pharma’s consolidated sales during the quarter.
- Net Profit:
- The company reported a net profit of ₹2,835.5 crore, surpassing expectations of ₹2,589.6 crore.
- Revenue:
- Revenue for the quarter stood at ₹12,652 crore, slightly below the expected ₹12,844 crore.
- This represents a 6% increase from the same quarter last year.
- EBITDA:
- Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) were ₹3,607 crore, marginally higher than the estimated ₹3,344.5 crore.
- The EBITDA margin improved to 28.5%, compared to the estimated 26%.
Metric | Current Quarter | Comparison/Estimate | Year-on-Year Change |
---|---|---|---|
US Formulation Sales | $466 million | $518 million (estimate) | -1% |
Consolidated Sales Contribution | 31.1% | ||
Net Profit | ₹2,835.5 crore | ₹2,589.6 crore (estimate) | |
Revenue | ₹12,652 crore | ₹12,844 crore (estimate) | +6% |
EBITDA | ₹3,607 crore | ₹3,344.5 crore (estimate) | +8.3% |
EBITDA Margin | 28.5% | 26% (estimate) | +60 basis points |
India Formulation Sales | ₹4,144.5 crore | +16.4% | |
Global Specialty Sales | $266 million | +14.7% | |
Rest of the World Formulation Sales | $190 million | -2.9% | |
API External Sales | ₹494.6 crore | -8.3% |
Segment Performance
- India Formulation Sales:
- Increased by 16.4% from last year, reaching ₹4,144.5 crore.
- Global Specialty Sales:
- Grew by 14.7% year-on-year, amounting to $266 million.
- These sales accounted for 17.7% of the June quarter’s total sales.
- Rest of the World Formulation Sales:
- Declined by 2.9% to $190 million.
- Active Pharmaceutical Ingredients (API):
- External sales of API declined by 8.3% to ₹494.6 crore.
- The company emphasized its focus on increasing API supply for key products.
Sun Pharma’s mixed results highlight challenges in the US market, but strong growth in other areas like India and global specialty sales. The company’s focus on enhancing its API capabilities and maintaining a balanced portfolio is crucial for its future gro