Sun Pharmaceutical Industries Ltd.

Company Background

Sun Pharmaceutical is India's largest drugmaker. It sells mainly generic drugs, an area in which Indian companies do well, in more than 150 countries, including the U.S. It has over 20 production bases around the world and supplies more than 1,000 products. It has succeeded in expanding its business globally, given that domestic sales account for only about 30% of its group sales. It has built a solid business base especially in the U.S., generating more around 50% of sales in that market.

The company was founded in 1983 by Dilip Shanghvi, who serves as managing director. It brought online its first active pharmaceutical ingredients factory in the western Indian state of Gujarat in 1995. It has been on a growth path recently on the back of the global expansion of India's generic drug business. Shanghvi is known for his aggressive merger and acquisition strategy and has expanded his company through buyouts including overseas companies. In 2014, it bought Ranbaxy Laboratories, an Indian drugmaker, which cemented its place at the top of India's pharmaceutical industry.

Shanghvi and other founding family members and affiliate companies own more than 60% of shares in Sun Pharmaceutical. Shanghvi is one of India's richest men, and he and his family are actively investing in India.

Business Summary

Sun Pharmaceutical Industries Ltd. engages in manufacturing, developing, and marketing of pharmaceuticals products. It offers tablets, capsules, injectable, inhalers, ointments, creams, and liquids. The company was founded by Dilip Shantilal Shanghvi in 1983 and is headquartered in Mumbai, India.

Financial Highlights

Mar 2022	INR	USD
Revenue	386,544.90M	5,187.85M
Gross Profit	169,267M	2,271.74M
Operating income	83,215.50M	1,116.84M
Income before tax	44,813.20M	601.44M
Net income	32,727.30M	439.23M
EBITDA	104,652.90M	1,404.55M
Diluted EPS	13.64	0.18
Dividends Per Share	10	0.13
Total Assets	713,814.60M	9,420.18M
Total liabilities	203,153.50M	2,681.00M
Total equity	480,112.20M	6,336.02M
Operating cash flow	91,214.60M	1,224.19M
	Currency in INR	Currency in USD

Historical Data

INR | USD

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Revenue	264,155.40M	290,659.10M	328,375M	334,981.40M	386,544.90M
Gross Profit	109,049.50M	122,523.20M	140,938.30M	140,851.90M	169,267M
Operating income	41,097.80M	49,220M	52,395.30M	64,988.60M	83,215.50M
Income before tax	34,789.80M	38,102M	50,095.90M	27,993.70M	44,813.20M
Net income	20,957M	26,654.20M	37,649.30M	29,038.20M	32,727.30M
EBITDA	56,096.20M	66,752.50M	72,923.10M	85,788.10M	104,652.90M
Diluted EPS	8.73	11.10	15.69	12.10	13.64
Dividends Per Share	2	2.75	4	7.50	10
Total Assets	645,163.50M	646,938.10M	682,524.60M	688,224.80M	713,814.60M
Total liabilities	223,180.80M	199,712.10M	191,277.70M	193,426.50M	203,153.50M
Total equity	383,141.10M	414,090.60M	452,644.50M	464,627.80M	480,112.20M
Operating cash flow	39,781.60M	24,425.10M	66,775.20M	62,354.80M	91,214.60M

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Revenue	4,097.58M	4,155.67M	4,631.13M	4,512.44M	5,187.85M
Gross Profit	1,691.58M	1,751.76M	1,987.67M	1,897.37M	2,271.74M
Operating income	637.51M	703.71M	738.94M	875.44M	1,116.84M
Income before tax	539.66M	544.76M	706.51M	377.09M	601.44M
Net income	325.08M	381.08M	530.97M	391.16M	439.23M
EBITDA	870.16M	954.38M	1,028.44M	1,155.62M	1,404.55M
Diluted EPS	0.13	0.15	0.22	0.16	0.18
Dividends Per Share	0.03	0.03	0.05	0.10	0.13
Total Assets	9,891.85M	9,338.69M	9,021.98M	9,413.06M	9,420.18M
Total liabilities	3,421.87M	2,882.88M	2,528.41M	2,645.55M	2,681.00M
Total equity	5,874.44M	5,977.48M	5,983.30M	6,354.86M	6,336.02M
Operating cash flow	617.09M	349.21M	941.74M	839.96M	1,224.19M

Valuation Measures

Mar 2022
PER	67.06
ROA	4.66%
ROE	6.92%
Operating margin	21.52%
Profit margin	8.46%

Key executives

Managing Director & Executive Director: Dilip Shantilal Shanghvi
Executive Vice President-Global Operations: Davinder Singh
Chief Financial Officer: C. S. Muralidharan
Secretary & Compliance Officer: Anoop Deshpande
Compliance Officer & Senior GM-Secretarial: Ashok I. Bhuta

Shareholders

Shanghvi Finance Pvt Ltd. (41.9%)
SHANGHVI DILIP SHANTILAL (9.5%)
Life Insurance Corporation of India (Investment Portfolio) (5.0%)
ICICI Prudential Asset Management Co. Ltd. (3.1%)
SBI Funds Management Pvt Ltd. (2.4%)
The Vanguard Group, Inc. (1.4%)
VALIA RAKSHA SUDHIR (1.2%)
Lakshdeep Investments & Finance Pvt Ltd. (1.1%)
Norges Bank Investment Management (1.1%)
BlackRock Fund Advisors (1.0%)

Contact Details

Website:http://www.sunpharma.com
Address: CTS No. 201 B/1, Sun House, Western Express Highway, Mumbai, 400063, India
Phone: +91.22.43244324

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Last Updated on 20 Mar, 2023