Consolidated Sales Of Sun Pharma Rises 11 Per Cent

Sun Pharmaceutical Industries said that specialty business of the company has been growing and it has registered INR 9,386.1 crore consolidated sales from operations which is 11 per cent high.

Dilip Shanghvi, Managing Director, Sun Pharma said, “FY22 was a good year with strong topline and EBITDA growth. All our geographies have recorded double-digit growth and profitability has improved despite rising costs.”

He said that specialty business continues to ramp-up strongly with global ILUMYA sales recording 81 per cent growth to reach USD 315 million in FY22. Our India business continues to grow faster than market, leading to increase in market share. According to Sun Pharma website, ILUMYA is a prescription medicine used to treat adults with moderate to severe plaque psoriasis who may benefit from taking injections, pills (systemic therapy), or phototherapy (treatment using ultraviolet or UV light).

“We continue to focus on expanding our global specialty business, growing all our businesses and on improving operational efficiencies,” Shanghvi added.

On the whole, Sun Pharma has 93 Abbreviated New Drug Applications (ANDAs) pending approval from US Food and Drug Administration (USFDA) from all its sites put together.

However, the company has also posted net loss of INR 2,277 crore for the fourth quarter of the financial year 2021-22 on account of settlement charges of pending litigations in the US, restructuring operations in some countries,  against a profit of INR 894.15 crore in the same quarter last year.

It said the adjusted net profit for Q4FY22 was INR 1,582.1 crore, up 18 per cent YoY, after excluding the exceptional items of INR 3,935.7 crore and an exceptional tax gain of INR 76.4 crore.

ITs EBITDA came in at INR 2,279 crore, up by about 14.6 per cent over Q4 last year, with a resulting EBITDA margin at 24.3 per cent.

The results were declared after market hours. The company declared a dividend of INR 3 per equity share of INR 1 face value.

India formulations sales were up 16 per cent during the quarter over the same period last year to INR 3,095.6 crore while the US formulation sales came in at USD 389 million (around 2,956Cr), up 5 per cent over Q4 last year. The emerging markets formulation sales at USD 206 million, up by 7 per cent over Q4 last year.

Together, India and the emerging markets contributed 50 per cent of Sun Pharma’s global consolidated revenues. India alone contributes about 33 per cent of consolidated revenues while the US contributes 31 per cent.

For the full year, Sun Pharma posted a 15.6 per cent rise in sales from operations to INR 38,426.4 crore, while its net profit for FY22 was INR 3,272.7 crore, up 13 per cent. The EBITDA at INR 10,169 crore is up about 23.6 per cent over last year, with EBITDA margin at 26.5 per cent, an expansion of 170bps YoY.

Sun Pharmaceuticals

Sun Pharma is the world’s fourth largest specialty generic pharmaceutical company and India’s top pharmaceutical company. A vertically integrated business and a skilled team enables it to deliver high-quality products, trusted by customers and patients in over 100 countries across the world, at affordable prices.

Its global presence is supported by manufacturing facilities spread across six continents and approved by multiple regulatory agencies, coupled with a multi-cultural workforce comprising over 50 nationalities.

Sun Pharma fosters excellence through innovation supported by strong R&D capabilities across multiple R&D centres, with investments of approximately 6 per cent of annual revenues in R&D.