India’s largest pharma firm, Mumbai head-quarterd Sun Pharmaceuticals, posted a 124 per cent year-on-year rise in net profit in the fourth quarter of the 2020-21 fiscal to Rs 894.1 crore. When compared to Rs 636 crore net profit in Q4FY19, the rise is around 40 per cent.
The year 2019-20 was partially hit by the Covid-19-induced national lockdown imposed last March, impacting sales. Sun Pharma’s consolidated sales from operations came in at Rs 8,431 crore, up 4.4 per cent YoY, and when compared to Q4FY19, it is up 19 per cent.
Brokerages had estimated an over 100 per cent rise in profits during the quarter backed by healthy operating performance and a low base in the same quarter last year. For example, Kotak Institutional Securities had expected a 141 per cent rise in profit and a 41 per cent in Ebitda YoY.
Dilip Shanghvi, Managing Director of the company said, “FY21 was a year marked by a highly volatile business environment due to the global Covid-19 pandemic and lockdowns in various countries. Despite these challenges, I am happy to see that we have been able to maintain business continuity and record positive overall growth. While our India business continues to outperform the average industry growth, our global specialty sales have continued to show an improving trend. Global Ilumya sales for the year have grown by 51 per cent to $ 143 million.”
Sun Pharma recorded an Ebitda of Rs 1,956.8 crore, up 56 per cent over Q4 last year with a resulting Ebitda margin of 23.2 per cent.
India sales posted stronger growth than the US market–up 13 per cent during the quarter. US finished dosage sales, in turn, posted a 1.3 per cent decline to $370 million. Emerging market sales were up by 2.8 per cent to $192 million.
Sales of branded formulations in India for Q4FY21 were at Rs 26,70 crore, up by 12.9 per cent over Q4 last year, accounting for 31.7 per cent of total sales. “Sun Pharma is ranked No. 1 and holds approximately 8.2 per cent market share in the over Rs. 1,474,000 million Indian pharmaceutical market as per AIOCD AWACS MAT March-2021 report,” the company claimed.
For Q4FY21, the company launched 31 new products in the Indian market.
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