Sun Pharma posts ₹1,444-cr Q1 net

Sun Pharmaceutical Industries Limited reported financials for the first quarter ending June 30th, 2021.

These results were taken on record by the Board of Directors at a meeting held today. 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.”

Debt Repayment
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.

Dilip Shanghvi, Managing Director, said the strong first quarter performance was 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 (fourth quarter) last year. Our India business continues to do well while our global specialty revenues have grown over Q4,” he said. MB Bureau