Sun Pharmaceutical Industries Announced Q1FY23 Result :
- Q1 Gross Sales at Rs. 106,440 million up 10.1% YoY
- Q1 Net Profit at Rs. 20,609 million up 42.7% YoY
- Gross sales at Rs. 106,440 million, growth of 10.1% over Q1 last year. Excluding Covid products sales for Q1 last year, overall sales are up by about 14%
- India formulation sales at Rs. 33,871 million, up 13% on like-to-like basis, excluding Covid products sales of Q1 last year. On reported basis, the growth is 2.4% over Q1 last year
- US formulation sales at US$ 420 million, growth of 10.7% over Q1 last year
- Emerging Markets formulation sales at US$ 245 million, up by 12.6% over Q1 last year
- Rest of World formulation sales at US$ 190 million, up by 2.6% over same quarter last year
- R&D investments at Rs. 4,608 million compared to Rs. 5,926 million for Q1FY22
- EBITDA at Rs. 28,844 million (including other operating revenues), with EBITDA margin at 26.8%
- Net profit for the quarter was at Rs. 20,609 million, up by 42.7% YoY. Excluding the exceptional items of Q1 last year, adjusted net profit was up by 4.1%.
- Production Linked Incentive (PLI) scheme – will help in further improving technology capabilities, capacity utilization and competitiveness.
Dilip Shanghvi, Managing Director of the Company said, “For Q1, all our businesses recorded good growth, driven by a combination of sustained scale-up for our specialty business and all-round growth across markets. Specialty business has grown by 29% driven by Ilumya, Cequa, Odomzo and Winlevi. Our India business continues to grow faster than market, leading to increase in market share. We have been able to report healthy margins despite rising costs. We continue to focus on expanding our global specialty business, growing all our businesses and improving our market share.”