Sun Pharmaceutical Industries Limited – Investor Presentation Summary

Key Operational Highlights

  • Global presence across 100+ countries with 47,000+ employees
  • 40 manufacturing facilities across India, Americas, Asia, Africa, Australia and Europe
  • Operates in Innovative Medicines, branded generics, generics & APIs segments
  • 13th largest generics company in US market (IQVIA Mar 2026)
  • Largest pharma company in India with 8.4% market share (AIOCD AWACS Mar 2026)
  • Key drivers: Focus on complex products, differentiated offerings, and geographic expansion

Segment-wise Performance

  • US Formulations: FY26 sales Rs 168,242 million (29% of total)
  • India Formulations: FY26 sales Rs 192,904 million (33% of total)
  • Emerging Markets Formulations: FY26 sales Rs 111,865 million (19% of total), operating in 80+ countries
  • Rest of World Formulations: FY26 sales Rs 85,684 million (15% of total), including Western Europe, Canada, Japan, ANZ, Israel
  • API & Others: FY26 sales Rs 24,506 million (4% of total)

Financial Highlights

Revenue: Rs 582,201 million (FY26), 12% YoY growth

EBITDA: Rs 177,314 million (FY26), 16% YoY growth

PAT: Rs 114,794 million (FY26), 5% YoY growth

Adjusted Net Profit: Rs 124,015 million (FY26), 3.5% YoY growth

EPS: Rs 47.8 (Diluted), Rs 51.7 (Adjusted Diluted)

Margins: Gross Margin 80.2%, EBITDA Margin 30.3%, Net Margin 19.6%, Adjusted Net Margin 21.2%

YoY comparison: Sales growth 12% (FY26 vs FY25), EBITDA growth 16%

Drivers: Higher revenue growth across businesses, operational efficiencies

R&D Spend: Rs 35,540 million (6.1% of sales)

Q4 FY26 Performance

Gross Sales: Rs 145,598 million, 13.6% YoY growth

Revenue from operations: Rs 146,118 million, 12.8% YoY growth

EBITDA: Rs 39,542 million, 6.4% YoY growth

Net Profit: Rs 27,140 million, 26.2% YoY growth

R&D Spend: Rs 9,757 million (6.7% of net sales)

Geographical Revenue Split

Domestic: Rs 192,904 million (33% of total)

Export: Rs 389,297 million (67% of total)

Regional Breakdown: US (29%), Emerging Markets (19%), Rest of World (15%), API & Others (4%)

Balance Sheet Snapshot

Net Fixed Assets: Rs 260,409 million (28% YoY growth)

Investments: Rs 247,225 million (35% YoY growth)

Cash and Bank Balances: Rs 116,031 million (2% YoY growth)

Inventory: Rs 114,929 million (12% YoY growth)

Sundry Debtors: Rs 155,097 million (19% YoY growth)

Sundry Creditors: Rs 73,338 million (19% YoY growth)

Financial Health: Strong cash position with Rs 116 billion cash reserves

Capex & Cash Flow Health

Capital Expenditure: Not specified in exact amount

Free Cash Flow: Not explicitly disclosed

Operating Cash Flow: Not explicitly disclosed

Net Debt Movement: Company maintains net cash position (excluding debt)

Investment Rationale: Focus on capacity expansion, technology upgrades, and regulatory compliance

Strategic & R&D Initiatives

Innovative Medicines Portfolio: 29 products marketed globally including Ilumya, Winlevi, Cequa, Yonsa, Sezaby, Absorica

R&D Pipeline: Fibromun (anti-cancer immunotherapy), Nidlegy (immunocytokines), GL0034 (GLP-1R Agonist), MM-II (liposomal lubrication)

Expected Impact: Strengthening position in dermatology, oncology, and metabolic disorders

Strategic Rationale: Building global specialty generic company with focus on complex products

Industry Trends & Business Environment

Macro Trends: Growing pharmaceutical consumption in emerging markets, increased focus on specialty medicines

Impact on Company: Opportunities for geographic expansion, portfolio diversification, and market share gains

Management Commentary & Growth Outlook

Strategic Outlook: Focus on mid to high single digit consolidated topline growth for FY26

FY Guidance: Target sustainable and profitable growth with focus on improving return ratios

Risks: Regulatory compliance challenges, competitive market environment

Opportunities: In-licensing opportunities for patented products, expansion in key markets

ESG Updates

Environmental: 41% energy from renewable sources, 21% reduction in Scope 1 & 2 emissions vs 2020 baseline, 25% reduction in water consumption

Social: 18.59% gender diversity, 6,978 new hires, 0 fatalities, INR 1,424 million CSR spending touching 1 million lives

Governance: 62.5% independent board directors, 50% board members with pharma industry experience

Corporate Governance

Board Composition: 9 members with 5 independent directors including Dr. Pawan Goenka (Lead Independent), Gautam B. Doshi, Rolf Hoffmann, Dr. Andreas Eugen Busch, Satyavati Berera

Attendance: 92.9% average board meeting attendance

Company History and Key Deals

2026: Announced Organon & Co. acquisition to enhance global scale in Women's Health and biosimilars

2025: Acquired Checkpoint Therapeutics Inc. (anti-PD-L1 treatment for cSCC)

2024: Completed Taro merger (100% subsidiary), In-licensed Fibromun (anti-cancer immunotherapy)

2023: In-licensed Nidlegy (Europe, ANZ), Acquired Concert Pharmaceuticals (alopecia areata treatment)

2022: Various licensing agreements for Winlevi expansion

2015: Sun Pharma-Ranbaxy merger creating largest Indian pharma company