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Informist, Friday, May 22, 2026

 

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--Sun Pharma Jan-Mar consol net profit INR 27.14 bln 
--Analysts saw Sun Pharma Jan-Mar consol net profit at INR 28.09 bln 
--Sun Pharma Jan-Mar consol revenue INR 146.12 bln 
--Analysts saw Sun Pharma Jan-Mar consol revenue at INR 145.90 bln 
--Sun Pharma Jan-Mar consol net profit INR 27.14 bln vs INR 21.50 bln yr ago 
--Sun Pharma Jan-Mar consol revenue INR 146.12 bln vs INR 129.59 bln yr ago 
--Sun Pharma to pay INR 5 per share final dividend 
--Sun Pharma FY26 consol net profit INR 114.79 bln vs INR 109.29 bln yr ago 
--Sun Pharma Jan-Mar consol EBITDA INR 39.54 bln, up 6.4% on year 
--Sun Pharma FY26 consol revenue INR 584.62 bln vs INR 525.78 bln yr ago 
--Sun Pharma Jan-Mar consol EBITDA margin 27.1% 
--Sun Pharma Jan-Mar US formulation sales $459 mln, down 1.1% on year 
--Sun Pharma FY26 US formulation sales were 29% of total sales 
--Sun Pharma Jan-Mar US formulation sales INR 42 bln vs INR 40.2 bln year ago 
--Sun Pharma Q4 emerging mkt formulation sales $306 mln, up 17.4% on yr 
--Sun Pharma FY26 emerging mkt formulation sales were 19% of total sales 
--Sun Pharma Q4 Rest of World formulation sales $220 mln, up 10% on year 
--Sun Pharma FY26 Rest of World formulation sales were 15% of total sales 
--Sun Pharma Jan-Mar consol R&D spend INR 9.76 bln, 6.7% of sales 
--Sun Pharma: US innovative medicines growth offset fall in generics ops Q4 
--Sun Pharma Q4 global innovative medicine sales $354 mln, up 20.1% on yr 
--Sun Pharma Q4 global innovative medicine sales were 22.2% of consol sales 
--Sun Pharma Jan-Mar API external sales INR 6.74 bln, up 26.4% on year 

 

By Gunjan Rajput

 

NEW DELHI – Sun Pharmaceutical Industries Ltd. reported mixed numbers for the March quarter, with its consolidated net profit missing analysts' expectations, driven by expenses rising to a multi-quarter year-on-year high. Despite weakness in its US generics business, its revenue was above Street estimates, driven by strong growth in domestic formulation and the global speciality portfolio sales.

 

This is the third consecutive quarter that net profit has risen year-on-year. However, the revenue growth declined in the March quarter compared with a year ago.

 

The pharma company's consolidated net profit for Jan-Mar rose over 26% on-year to INR 27.14 billion, but below the analysts' estimate of INR 28.09 billion. The consolidated revenue rose nearly 13% on year to INR 146.12 billion, marginally above analysts' expectation of INR 145.90 billion.

 

The company's earnings before interest, tax, depreciation and amortisation for the quarter rose 6.4% on year to INR 39.54 billion, while its EBITDA margin compressed to 27.1% from 28.7% in the year-ago quarter. 

 

The company's total expenses rose nearly 16% on year to INR 115.19 billion, largely because of a 21% on year jump in costs classified under 'other expenses' to INR 53.23 billion. The company's cost of materials consumed rose over 18% on year to INR 21.82 billion, while its employee benefit expenses rose nearly 19% to INR 29.60 billion. The purchase of stock-in-trade fell by over 27% to INR 7.53 billion. The overall rise in expenses was the sharpest in over four years.

 

Sun Pharmaceutical's sales in the India formulations business rose 15% on-year to INR 48.36 billion, accounting for 33.2% of consolidated sales, led by growth in cardiovascular, central nervous system, gastro and orthopaedic therapies. The company said it continued to gain market share in the domestic market, with a 0.3 percentage-point increase in the financial year 2025-26 (Apr-Mar), the highest annual increase since the Ranbaxy acquisition, according to the investor presentation. 

 

The US formulations sales for the quarter stood at $459 million, down 1.1% on year. The US sales, however, rose in rupee terms to INR 42 billion from INR 40.2 billion a year ago. The company said growth in innovative medicines in the US market offset the decline in the generics business. Global innovative medicines sales rose 20.1% on-year to $354 million in the March quarter and accounted for 22.2% of consolidated sales. Among other geographies, emerging markets formulations sales rose 17.4% on-year to $306 million, accounting for 19.2% of the total sales. Sales from the rest-of-world formulations increased by 10% to $220 million, accounting for 13.8% of total sales. 

 

Research and development expenditure in the reporting quarter was INR 9.76 billion, or 6.7% of sales. Of the total research and development spend, 36.9% was for innovative medicines. "Sun's innovative R&D (research and development) pipeline includes five novel entities in the clinical stage. Sun has a comprehensive product offering in the US market consisting of approved ANDAs (abbreviated new drug application) for 552 products, while filings for 122 ANDAs await US FDA (Food and Drug Administration) approval, including 28 tentative approvals," the company said in its investor presentation.

 

As on Mar. 31, the company's portfolio included 57 approved new drug applications, while 13 new drug applications await US FDA approval. 

 

For FY26, Sun Pharmaceutical's global innovative medicines sales rose 16% on-year to $1.42 billion, excluding milestone income, and accounted for 20.7% of total sales. The company's EBITDA increased 16% to INR 177.31 billion, while EBITDA margin stood at 30.3% in FY26. The company's research and development investment for the year was INR 35.54 billion, equivalent to 6.1% of sales.

 

For FY26, the company reported consolidated net profit of INR 114.79 billion, up 5% on year, while revenue rose over 11% to INR 584.62 billion. The company's board recommended a final dividend of INR 5 per share.

 

The company's shares closed 2.5% lower at INR 1,844.60 on the National Stock Exchange. The company announced its March quarter results during market hours.  End

 

Edited by Saji George Titus

 

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