Gross Sales at Rs.7,467crores Adjusted Net Profit at Rs. 1,146crores
Mumbai, July31,2020: Sun Pharmaceutical Industries Limited(Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715) reported financials for the first quarter ending June30th,2020.
Highlights of Q1FY21 consolidated financials
Consolidated salesfrom operations at Rs.7,467crores, a decline of about 9.6%over same quarter last year.
India sales at Rs.2,388crores, growth of3.2% over Q1 lastyear.
US finished dosage salesat US$ 282million,downby33.5%over Q1last year.Sales for Q1lastyearincluded a one-time contribution from the special business in US and hence the numbers are not strictly comparable.
Emerging Markets sales at US$ 173million,a decline of10.5%over Q1last year.
Rest of Worldsales at US$ 136million,downby 18.5% overQ1last year.
R&D investments atRs. 421crores(5.6%of sales)compared to Rs. 422crores (5.1% of sales) for Q1FY20.
EBITDA at Rs. 1,725crores, with resulting EBITDA margin of 23.1%.
Excluding the exceptionalitems of Rs. 3,633 crores (and its minority interest of Rs. 832 crores), adjusted net profit for Q1FY21 was at Rs. 1,146crores with resulting net profit margin at 15.3%. Reported net loss for quarter was at Rs. 1,656croresdue to the exceptional items mentioned above.
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, “The Q1 performance reflects the impact of the global COVID-19 pandemic and consequent lockdown across markets and is not an indicator of the underlying strength of our business. Despite challenging conditions, we have done well and have not lost market share for any of our key specialty products in the US. We have also maintained our market share in the Indian domestic market. Our timely risk mitigation initiatives ensured smooth operations of our manufacturing network, thereby maintaining continuous supplies of drugs. In the meantime, we continue to focus on serving our patients and customers,ensuring safety of our employees and business continuity.
