- 02 Nov 2022
- ICICIdirect Research
Sun Pharma numbers in line; specialty business shines
SUNPHARMA - 1822 Change: 22.45 (1.25 %)News:
Revenues grew 13.8% YoY to Rs 10952.3 crore, driven by market share gain in India, sustained ramp-up of global specialty business and growth in Emerging Markets. Gross margins increased ~147 bps over previous year to 75.3%. The expansion was mainly due to the change in product mix, higher contribution from specialty products. EBITDA margins declined 33 bps YoY to 27%. The decline was due to higher employee and other expenses. Adjusted PAT increased 10.5% YoY to Rs 2262 crore
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The company’s performances continued to thrive on remunerative businesses of US (and Global) Specialty and domestic formulations. What is more important is despite muted Taro results the company was able to deliver a decent performance. It remains strategically focused on specialty and branded formulations for future growth with calibrated R&D allocation
Impact:
Positive