- Q1 Gross Sales at Rs. 96,694 million up 29% YoY
- Q1 Adjusted Net Profit at Rs. 19,792 million up 73% YoY
Sun Pharmaceutical Industries Ltd. reported financials for the first quarter ending June 30, 2021.
Highlights of Q1FY22 consolidated financials
- Consolidated sales from operations at Rs. 96,694 million, growth of 29% over Q1 last year and 14% over Q4 last year.
- India sales at Rs. 33,084 million, up 39% compared to Q1 last year
- US finished dosage sales at US$ 380 million, growth of 35% over same quarter last year
- Emerging Markets sales at US$ 218 million, up by 25% over Q1 last year
- Rest of World sales at US$ 185 million, up by 35% over Q1 last year
- R&D investments at Rs. 5,926 million compared to Rs. 4,206 million for Q1FY21.
- EBITDA at Rs. 27,718 million, up by 59% over Q1 last year, with resulting EBITDA margin of 28.7%
- Adjusted net profit for quarter was at Rs. 19,792 million, up by 73% YoY, after excluding the exceptional items of Rs. 6,311 million and relevant minority interest of Rs. 960 million. Adjusted net profit margin at 20.5% compared to 15.3% for Q1 last year. Reported net profit for Q1FY22 was at Rs. 14,442 million.
These results were taken on record by the Board of Directors at a meeting held recently.
Mr. Dilip Shanghvi, Managing Director of the Company, said: “We witnessed a strong Q1, driven by a combination of robust core business growth, low base and some sale of Covid products. We are enthused by the all-round growth across all our businesses compared to Q4 last year. Our India business continues to do well while our global specialty revenues have grown over Q4. We are happy with Ilumya’s performance which has grown both YoY and sequentially. We continue to focus on growing our overall business and simultaneously strengthening our global specialty portfolio. The recent in-licensing of Winlevi for US and Canada is a step forward in this direction.”
The company has repaid debt of about US$ 185 million in Q1FY22 compared to the debt as of March 31, 2021. Over the last 5 quarters, the Company has repaid debt of about US$ 765 million.
India Business – Market Leadership
Sale of branded formulations in India for Q1FY22 were at Rs. 33,084 million, up by 39% over Q1 last year, and accounting for 34% of total sales.
Sun Pharma is ranked No.1 and holds above 8.0% market share in the over Rs. 1,594 billion Indian pharmaceutical market as per AIOCD AWACS MAT June-2021 report. For Q1FY22, the company launched 13 new products in the Indian market.