Sun Pharma Q2 FY27 Net Profit at ₹19.9 Billion

The document is a transcript of Sun Pharma's Q2 FY27 Financial Results Conference Call, an earnings call held post-results.
The event was held on October 30, 2026, at 06:30 pm IST.
The stated purpose was to provide an update on the financial performance and business highlights for the quarter, pipeline updates, and to respond to questions.
The meeting was scheduled after the earnings announcement, as the financials, press release, and earnings presentation had been sent out earlier in the day.
Management participants included:
Mr. Dilip Shanghvi, Chairman
Mr. Kirti Ganorkar, Managing Director
Ms. Jayashree Satagopan, Chief Financial Officer
Mr. Richard Ascroft, CEO (North America)
Dr. Abhishek Sharma, Vice President and Head of Investor Relations and Strategic Projects (Moderator)
The call recording and transcript were stated to be made available on the company's website shortly after the call.
The company included standard compliance language, stating the discussion might include forward-looking statements that must be viewed in conjunction with the risks the business faces.

Q2 FY27 Financials (Consolidated):
Sales: ₹1,61,000 million (growth of 11.8% YoY)
Gross Margin: 80.8%
EBITDA: ₹47,439 million (growth of 4.8% YoY); Margin: 29.3%
Forex Gain: ₹785 million
Reported Net Profit: ₹19,885 million
Adjusted Net Profit: ₹31,620 million
EPS: ₹8.3 per share
Exceptional Items: Includes provision for a litigation settlement and Organon-related acquisition costs.
Effective Tax Rate: 28.3% (vs. 24.7% in Q2 FY26)
Net Cash: USD 3.3 billion

Business Segment Performance:
Global Innovative Medicines: Sales of USD 356 million (up 6.9% YoY), accounting for 21.1% of total sales. Key drivers: Ilumya, Cequa, Odomzo.
India Formulations: Sales of ₹55,523 million (up 17.3% YoY), accounting for 34.5% of total sales. Sun Pharma is ranked #1 with an 8.6% market share (Pharmarack MAT Sept '26). Volume growth was 6.7% for the quarter.
US Formulations: Sales of USD 455 million (declining 8.2% YoY, but growing 6.5% QoQ), accounting for 27% of total sales. The YoY decline was attributed to lenalidomide erosion. Five new generic products were launched.
Emerging Markets: Sales of USD 350 million (up 7.6% YoY), accounting for 20.7% of total sales.
Rest of World: Sales of USD 241 million, accounting for 14.3% of total sales.

Key Business Updates:
Ilumya: Approved in the US for psoriatic arthritis; a soft launch is planned for November '26 with a full launch to follow. Performance slowed in the US in Q2, but management expects a return to growth over the next few quarters.
Unloxcyt: Elevated to a Category 2A preferred recommendation in NCCN guidelines for advanced CSCC. Long-term data showed complete responses in 34% of locally advanced and 17-21% of metastatic patients.
Organon Acquisition: Integration planning is progressing. Regulatory approvals have been secured in a majority of regions. The transaction is on track to close in Q4 FY27 (early calendar 2027).
New Partnership: Partnership with LIB Therapeutics for Lerodalcibep (PCSK9 inhibitor) outside US and China.
R&D Spend: Consolidated R&D investment was ₹7,784 million (4.8% of sales) for the quarter, with Innovative R&D accounting for 32.4% of the total. A significant ramp-up is expected in H2 FY27.
US Government Agreement: Sun Pharma signed an agreement to extend Most Favored Nation pricing to state Medicaid programs, delaying Section 232 tariffs for over 2 years and providing exemptions from certain Medicare models.

The document is a full transcript of the earnings conference call, including the Q&A session with analysts.
The transcript was filed pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015.
No financial attachments (e.g., presentation deck) were included with this specific transcript document, though they were referenced as being available on the company's website.
The transcript contains extensive financial data and management commentary, making it a detailed source of information.