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Sun Pharma reports Q2FY20 results

Posted On: 2019-11-07 16:45:18


Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715) reported financials for the second quarter & first half ending September 30th, 2019.

Highlights of Q2FY20 consolidated financials

- Sales / Income from operations at Rs. 7,949 crores, a growth of 16% over same quarter last year.
- India sales at Rs. 2,515 crores, growth of 35% over Q2 last year.
- US finished dosage sales at US$ 339 million, flat over Q2 last year.
- Emerging Markets sales at US$ 201 million, up by 3% Q2 last year.
- Rest of World sales at US$ 161 million, growth of 49% over Q2 last year.
- R&D investments at Rs. 488 crores (6.1% of sales) compared to Rs. 452 crores (6.6% of sales) for Q2FY19.
- EBITDA at Rs. 1,616 crores up by 12% over Q2 last year, with resulting EBITDA margin of 20.3%.
- Net profit for quarter at Rs. 1,064 crores, with resulting net profit margin at 13.4%. Adjusted for the exceptional item of Rs. 1,214 crores for Q2 last year, net profit growth was 12.6%.

Highlights of H1FY20 consolidated financials

- Sales / Income from operations at Rs. 16,208 crores, growth of 16% over same period last year.
- India sales at Rs. 4,828 crores, up by 20% over H1 last year.
- US finished dosage sales at US$ 763 million up by 6% over H1 last year.
- Emerging Markets sales at US$ 394 million up by 1% over H1 last year.
- Rest of World sales at US$ 328 million, growth of 52% over H1 last year.
- EBITDA at Rs. 3,496 crores up by 18% over H1 last year, with resulting EBITDA margin of 21.6%.
- Net profit for H1FY20 at Rs. 2,452 crores, with resulting net profit margin at 15.1%. Adjusted for the exceptional item of Rs. 1,214 crores for H1 last year, net profit growth was 22.5%.

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

Dilip Shanghvi, Managing Director of the Company said, "Our Q2 and H1 performance demonstrates sustained growth momentum and is in-line with our full-year guidance. We continue to focus on cost savings and efficiency improvement to align our generic business with the changing industry dynamics. Simultaneously, we continue to progress on building our global specialty business. In the US, we recently launched Cequa while Ilumya continues to gain traction. The recently released long-term follow-up clinical data for Ilumya demonstrates sustained response for patients over four-year period with very good safety profile. We are excited about the long term prospects of Ilumya."

Shares of SUN PHARMACEUTICAL INDUSTRIES LTD. was last trading in BSE at Rs.440.45 as compared to the previous close of Rs. 427.55. The total number of shares traded during the day was 895727 in over 11204 trades.

The stock hit an intraday high of Rs. 444 and intraday low of 423.45. The net turnover during the day was Rs. 389945023.


Source: Equity Bulls

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