On consolidated basis
Quarter ended September 2024 compared with Quarter ended September 2023.
Net sales (including other operating income) of Sun Pharmaceuticals Industries has increased 9.01% to Rs 13291.39 crore. Operating profit margin has jumped from 26.08% to 29.64%, leading to 23.89% rise in operating profit to Rs 3,938.96 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 13.79% to 12.50%. Purchase of finished goods cost fell from 8.34% to 6.67%. Employee cost decreased from 19.58% to 18.90%. Other expenses fell from 31.97% to 31.89%. Other income rose 20.57% to Rs 354 crore. PBIDT rose 23.61% to Rs 4292.96 crore. Provision for interest rose 40.33% to Rs 69.17 crore. Loan funds rose to Rs 2,571.95 crore as of 30 September 2024 from Rs 1,928.23 crore as of 30 September 2023. Inventories declined from Rs 9,956.41 crore as of 30 September 2023 to Rs 9,935.65 crore as of 30 September 2024. Sundry debtors were higher at Rs 12,941.99 crore as of 30 September 2024 compared to Rs 11,302.65 crore as of 30 September 2023. Cash and bank balance rose to Rs 9,015.00 crore as of 30 September 2024 from Rs 7,222.01 crore as of 30 September 2023. Investments rose to Rs 17,743.71 crore as of 30 September 2024 from Rs 12,868.35 crore as of 30 September 2023 . PBDT rose 23.37% to Rs 4223.79 crore. Provision for depreciation fell 1.09% to Rs 625.91 crore. Fixed assets increased to Rs 20,696.74 crore as of 30 September 2024 from Rs 11,118.54 crore as of 30 September 2023. Intangible assets declined from Rs 17,790.58 crore to Rs 8,771.19 crore. Profit before tax grew 28.92% to Rs 3,597.88 crore. Provision for tax was expense of Rs 567.21 crore, compared to Rs 390.1 crore. Effective tax rate was 15.74% compared to 14.06%. Net profit attributable to owners of the company increased 27.98% to Rs 3,040.16 crore. Equity capital stood at Rs 239.93 crore as of 30 September 2024 to Rs 239.93 crore as of 30 September 2023. Per share face Value remained same at Rs 1.00. Promoters’ stake was 54.48% as of 30 September 2024 ,compared to 54.48% as of 30 September 2023 . Promoters pledged stake was 0.79% as of 30 September 2024 ,compared to 2.44% as of 30 September 2023 . For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Sun Pharmaceuticals Industries has increased 7.50% to Rs 25944.14 crore. Operating profit margin has jumped from 26.98% to 29.09%, leading to 15.90% rise in operating profit to Rs 7,546.58 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 14.79% to 12.46%. Purchase of finished goods cost rose from 7.09% to 7.30%. Employee cost decreased from 20.03% to 19.23%. Other expenses rose from 30.73% to 31.57%. Other income rose 78% to Rs 886.55 crore. PBIDT rose 20.32% to Rs 8433.13 crore. Provision for interest rose 0.41% to Rs 130.71 crore. Loan funds rose to Rs 2,571.95 crore as of 30 September 2024 from Rs 1,928.23 crore as of 30 September 2023. Inventories declined from Rs 9,956.41 crore as of 30 September 2023 to Rs 9,935.65 crore as of 30 September 2024. Sundry debtors were higher at Rs 12,941.99 crore as of 30 September 2024 compared to Rs 11,302.65 crore as of 30 September 2023. Cash and bank balance rose to Rs 9,015.00 crore as of 30 September 2024 from Rs 7,222.01 crore as of 30 September 2023. Investments rose to Rs 17,743.71 crore as of 30 September 2024 from Rs 12,868.35 crore as of 30 September 2023 . PBDT rose 20.69% to Rs 8302.42 crore. Provision for depreciation fell 0.24% to Rs 1281.04 crore. Fixed assets increased to Rs 20,696.74 crore as of 30 September 2024 from Rs 11,118.54 crore as of 30 September 2023. Intangible assets declined from Rs 17,790.58 crore to Rs 8,771.19 crore. Profit before tax grew 25.50% to Rs 7,021.38 crore. Share of profit/loss was 82.31% higher at Rs -4.08 crore. Provision for tax was expense of Rs 1119.46 crore, compared to Rs 858.2 crore. Effective tax rate was 15.95% compared to 16.35%.Net profit attributable to owners of the company increased 33.60% to Rs 5,875.78 crore. Equity capital stood at Rs 239.93 crore as of 30 September 2024 to Rs 239.93 crore as of 30 September 2023. Per share face Value remained same at Rs 1.00. Promoters’ stake was 54.48% as of 30 September 2024 ,compared to 54.48% as of 30 September 2023 . Promoters pledged stake was 0.79% as of 30 September 2024 ,compared to 2.44% as of 30 September 2023 . Cash flow from operating activities increased to Rs 6,299.15 crore for YTD ended September 2024 from Rs 5,718.66 crore for YTD ended September 2023. Cash flow used in acquiring fixed assets during the YTD ended September 2024 stood at Rs 697.50 crore, compared to Rs 957.72 crore during the YTD ended September 2023.
Full year results analysis.
Net sales (including other operating income) of Sun Pharmaceuticals Industries has increased 10.51% to Rs 48496.85 crore. Operating profit margin has jumped from 26.54% to 26.85%, leading to 11.82% rise in operating profit to Rs 13,023.13 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 17.45% to 14.32%. Purchase of finished goods cost fell from 8.01% to 7.19%. Employee cost increased from 18.61% to 19.56%. Other expenses rose from 29.80% to 31.91%. Other income rose 113.42% to Rs 1354.19 crore. PBIDT rose 17.07% to Rs 14377.32 crore. Provision for interest rose 38.65% to Rs 238.47 crore. Loan funds declined from Rs 6,885.87 crore as of 31 March 2023 to Rs 3,273.67 crore as of 31 March 2024. Inventories declined from Rs 10,513.05 crore as of 31 March 2023 to Rs 9,868.29 crore as of 31 March 2024. Sundry debtors were lower at Rs 11,249.37 crore as of 31 March 2024 compared to Rs 11,438.51 crore as of 31 March 2023. Cash and bank balance rose to Rs 10,520.68 crore as of 31 March 2024 from Rs 5,770.29 crore as of 31 March 2023. Investments rose to Rs 15,025.77 crore as of 31 March 2024 from Rs 14,824.34 crore as of 31 March 2023 . PBDT rose 16.76% to Rs 14138.85 crore. Provision for depreciation rose 1.08% to Rs 2556.64 crore. Fixed assets declined from Rs 20,680.57 crore as of 31 March 2023 to Rs 19,966.31 crore as of 31 March 2024. Intangible assets increased from Rs 8,358.03 crore to Rs 8,598.95 crore. Profit before tax grew 20.90% to Rs 11,582.21 crore. Share of profit/loss was 19.81% higher at Rs -38.41 crore. Extraordinary items were decreased to Rs -494.32 crore. Provision for tax was expense of Rs 1439.45 crore, compared to Rs 847.59 crore. Effective tax rate was 13.03% compared to 9.05%. Minority interest decreased 14.51% to Rs 33.65 crore. Net profit attributable to owners of the company increased 13.01% to Rs 9,576.38 crore. Equity capital stood at Rs 239.93 crore as of 31 March 2024 to Rs 239.93 crore as of 31 March 2023. Per share face Value remained same at Rs 1.00. Promoters’ stake was 54.48% as of 31 March 2024 ,compared to 54.48% as of 31 March 2023 . Promoters pledged stake was 2.05% as of 31 March 2024 ,compared to 1.78% as of 31 March 2023 . Cash flow from operating activities increased to Rs 12,134.98 crore for year ended March 2024 from Rs 4,959.33 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 2,201.81 crore, compared to Rs 2,085.58 crore during the year ended March 2023. Other Highlights
In
Q2 FY25, India formulation sales went up 11% compared to Q2 FY24. US
formulation sales grew 20.3%, Emerging Markets formulation sales up 3.2%, Global Specialty sales increased 19.2%, and Rest of World formulation sales
went down 3.5% on YoY basis.
In
H1 FY25, India formulation sales went up 13.6% compared to H1 FY24. US
formulation sales grew 9.1%, Emerging Markets formulation sales up 5.9%, and
Rest of World formulation sales went down 3.2% on YoY basis.
In Q2 FY25, external sales of API stood at
Rs 533.8 crore, up by 7.4% YoY.
R&D
investments stood at Rs 792.9 crore in Q2 FY25.
Management Comments :
Dilip Shanghvi, Chairman and Managing
Director of the Company said, “Sun has recently strengthened its specialty
pipeline through an agreement with Philogen for commercializing late stage
candidate Fibromun, upon approval. With Fibromun, our product basket for dermatologists
has expanded further. We shall continue to leverage our strong cash position to
strengthen our pipeline with products that are close to market.”
| Sun Pharmaceuticals Industries : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202409 | 202309 | Var.(%) | 202409 | 202309 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 13,291.39 | 12,192.41 | 9.01 | 25,944.14 | 24,133.25 | 7.50 | 48,496.85 | 43,885.68 | 10.51 | | OPM (%) | 29.64 | 26.08 | 356 bps | 29.09 | 26.98 | 211 bps | 26.85 | 26.54 | 31 bps | | OP | 3,938.96 | 3,179.38 | 23.89 | 7,546.58 | 6,511.15 | 15.90 | 13,023.13 | 11,646.79 | 11.82 | | Other Inc. | 354.00 | 293.61 | 20.57 | 886.55 | 498.05 | 78.00 | 1,354.19 | 634.52 | 113.42 | | PBIDT | 4,292.96 | 3,472.99 | 23.61 | 8,433.13 | 7,009.20 | 20.32 | 14,377.32 | 12,281.31 | 17.07 | | Interest | 69.17 | 49.29 | 40.33 | 130.71 | 130.17 | 0.41 | 238.47 | 172.00 | 38.65 | | PBDT | 4,223.79 | 3,423.70 | 23.37 | 8,302.42 | 6,879.03 | 20.69 | 14,138.85 | 12,109.31 | 16.76 | | Depreciation | 625.91 | 632.82 | -1.09 | 1281.04 | 1284.14 | -0.24 | 2556.64 | 2529.43 | 1.08 | | PBT | 3,597.88 | 2,790.88 | 28.92 | 7021.38 | 5594.89 | 25.50 | 11582.21 | 9579.88 | 20.90 | | Share of Profit/(Loss) from Associates | 6.66 | -15.68 | LP | -4.08 | -23.07 | 82.31 | -38.41 | -47.9 | 19.81 | | PBT before EO | 3604.54 | 2775.2 | 29.88 | 7017.3 | 5571.82 | 25.94 | 11543.8 | 9531.98 | 21.11 | | EO Income | 0 | 0 | - | 0 | -322.87 | - | -494.32 | -171.45 | -188.32 | | PBT after EO | 3604.54 | 2775.2 | 29.88 | 7017.3 | 5248.95 | 33.69 | 11049.48 | 9360.53 | 18.04 | | Taxation | 567.21 | 390.1 | 45.40 | 1119.46 | 858.2 | 30.44 | 1439.45 | 847.59 | 69.83 | | PAT | 3037.33 | 2385.1 | 27.35 | 5897.84 | 4390.75 | 34.32 | 9610.03 | 8512.94 | 12.89 | | Minority Interest (MI) | -2.83 | 9.59 | LP | 22.06 | -7.3 | PL | 33.65 | 39.36 | -14.51 | | Net profit | 3040.16 | 2375.51 | 27.98 | 5875.78 | 4398.05 | 33.60 | 9576.38 | 8473.58 | 13.01 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 3040.16 | 2375.51 | 27.98 | 5875.78 | 4398.05 | 33.60 | 9576.38 | 8473.58 | 13.01 | | EPS (Rs)* | 12.67 | 9.90 | 27.98 | 24.49 | 19.46 | 25.85 | 41.70 | 35.96 | 15.95 | | | * EPS is on current equity of Rs 239.93 crore, Face value of Rs 1, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
|