Sun Pharmaceuticals Industries Ltd share Price Today

Divi’s is engaged in manufacturing generic APIs and intermediates, custom synthesis (CS) of active ingredients and advanced intermediates for pharma MNCs, other speciality chemicals like Carotenoids and complex compounds like peptides and Nucleotide revenues.

• In CS, the company maintains strong relationship with global big pharma players while in generics it enjoys significant market share in products like Naproxen, Dextromethorphan and Gabapentin among others
• Divi’s is fully backward integrated in products with high market share. The management intends to follow suit in other products

Beat estimates on back of strong order-book of custom synthesis.

• Sales were up 46.5% YoY to ₹ 2493.2 crore
• EBITDA was at ₹ 1097.2 crore, up 58.7% YoY with margins at 44%
• Consequent PAT was at ₹ 902.2 crore (up 91.7% YoY)

Sun Pharmaceutical Industries announced Q3FY24 & 9MFY24 results:

• Consolidated Q3FY24:
  • Gross sales at Rs 121,569 million, growth of 9.5%
  • India formulation sales at Rs 37,785 million, up 11.4%
  • US formulation sales at US$ 477 million, up 13.2%
  • Global specialty sales at US$ 296 million, including US$20 million milestone received in Q3. Ex-milestones, up 24.2%
  • Global specialty sales, ex-milestone, accounted for 19.2% of Q3FY24 sales
  • Emerging Markets formulation sales at US$ 252 million, lower by 2.3%
  • Rest of World formulation sales at US$ 214 million, up 12.9%
  • R&D investments at Rs 8,245 million compared to Rs 6,702 million for Q3FY23
  • EBITDA at Rs 34,768 million (including other operating revenues), up 15.8%. EBITDA margin for Q3 at 28.1% vs 26.7% during Q3FY23
  • Adjusted net profit (excluding the exceptional items) for Q3FY24 was Rs 25,936 million, up 19.7%. Reported net profit for Q3FY24 was Rs 25,238 million compared to Rs 21,660 mn during Q3FY23
• Consolidated 9MFY24:
  • Gross sales at Rs 359,451 million, growth of 10.4%
  • India formulation sales at Rs 111,814 million, up 9.2%
  • US formulation sales at US$ 1,378 million up 9.8%
  • Emerging Markets formulation sales at US$ 796 million, up 4.5%
  • Rest of World formulation sales at US$ 615 million, up 9.7%
  • EBITDA at Rs 99,880 million (including other operating revenues), up 12.9%, with a resulting EBITDA margin of 27.4%
  • Net profit for 9MFY24 was Rs 69,218 million. Like for like, adjusted net profit at Rs 73,145 million, up 12.7%
• The Board has declared an interim dividend of Rs 8.50 per share for the year FY24 against Rs 7.50 per share interim dividend for the previous year. 

Result PDF