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Sun Pharmaceutical Industries Results: Latest Quarterly Results & Analysis

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Sun Pharmaceutical Industries Ltd. 22 May 2026 15:14 PM
Result PDF

Q4FY26 & FY26 Result Announced for Sun Pharmaceutical Industries Ltd.

Pharmaceuticals company Sun Pharmaceutical Industries announced Q4FY26 & FY26 results

Standalone Financial Highlights:

  • Revenue from Operations:
    • Q4FY26: Rs 48,872.7 million, compared to Rs 56,512.1 million in Q3FY26 (QoQ decrease of 13.52%) and Rs 71,006.5 million in Q4FY25 (YoY decrease of 31.17%).
    • FY26: Rs 206,090.2 million, compared to Rs 225,984.0 million in FY25 (YoY decrease of 8.80%).
  • Total Income:
    • Q4FY26: Rs 49,868.1 million, compared to Rs 58,676.7 million in Q3FY26 (QoQ decrease of 15.01%) and Rs 73,115.8 million in Q4FY25 (YoY decrease of 31.79%).
    • FY26: Rs 211,739.7 million, compared to Rs 233,565.4 million in FY25 (YoY decrease of 9.35%).
  • Net Profit After Tax:
    • Q4FY26: Rs 6,087.0 million, compared to Rs 7,054.4 million in Q3FY26 (QoQ decrease of 13.71%) and Rs 20,419.7 million in Q4FY25 (YoY decrease of 70.19%).
    • FY26: Rs 26,234.2 million, compared to Rs 42,280.8 million in FY25 (YoY decrease of 37.95%).

Consolidated Financial Highlights:

  • Revenue from Operations:
    • Q4FY26: Rs 145,597.5 million, compared to Rs 154,690.7 million in Q3FY26 (QoQ decrease of 5.88%) and Rs 128,155.8 million in Q4FY25 (YoY increase of 13.61%).
    • FY26: Rs 582,201.1 million, compared to Rs 520,412.5 million in FY25 (YoY increase of 11.87%).
  • Total Income:
    • Q4FY26: Rs 150,702.9 million, compared to Rs 160,993.8 million in Q3FY26 (QoQ decrease of 6.39%) and Rs 135,717.1 million in Q4FY25 (YoY increase of 11.04%).
    • FY26: Rs 604,337.6 million, compared to Rs 545,434.8 million in FY25 (YoY increase of 10.80%).
  • Net Profit for the Period/Year:
    • Q4FY26: Rs 27,140.3 million, compared to Rs 33,688.1 million in Q3FY26 (QoQ decrease of 19.44%) and Rs 21,498.8 million in Q4FY25 (YoY increase of 26.24%).
    • FY26: Rs 114,794.2 million, compared to Rs 109,290.4 million in FY25 (YoY increase of 5.04%).

Business Highlights:

  • Dividend: The Board recommended a Final Dividend of Rs 5.00 per equity share (face value Re 1/- each) for FY26. This is in addition to the interim dividend of Rs 11.00 per share paid during FY26, bringing the total dividend to Rs 16.00 per share.
  • India Formulations: Sales grew 14.8% YoY in Q4FY26 to Rs 48,359 million, accounting for 33.2% of total consolidated sales.
  • Organon Acquisition: The Group entered into a definitive agreement to acquire all outstanding shares of Organon & Co. for an enterprise valuation of USD 11.75 billion, with indicative closure by Q4FY27.
  • R&D: R&D investment for FY26 was Rs 35,540 million (6.1% of sales), with 38.7% of this spend dedicated to Innovative Medicines.
  • Financial Position: Strong balance sheet with a Net Cash position of USD 3.2 billion as of March 31, 2026.

Kirti Ganorkar, Managing Director, said: “Our full-year performance reflects several significant achievements. Sun’s 0.3 percentage point gain in the India market is our highest gain since the Ranbaxy acquisition. Our U.S. Innovative Medicines business has surpassed USD 1 billion in revenues, while Ex-US Innovative Medicines continues to demonstrate strong growth momentum. The recently announced Organon acquisition is expected to further accelerate Sun’s transformation into a leading global pharmaceutical company.”

Result PDF

Result PDF

Pharmaceuticals company Sun Pharmaceutical Industries announced Q3FY26 results

  • Sales at Rs 154,691 million, a growth of 15.1%.
  • Global Innovative Medicines sales stood at USD 423 million, including USD 55 million milestone payment.
  • Global Innovative Medicines sales up 13.2%, accounting for 21.2% of sales, both Ex-milestone.
  • EBITDA was Rs 49,485 million, up 23.4%. EBITDA margin was 31.9%.
  • Profit before exceptional items and tax was Rs 47,166 million, up 24.4%.
  • Net profit was Rs 33,688 million, up 16.0%.
  • R&D investment was Rs 8,928 million at 5.8% of sales.

Kirti Ganorkar, Managing Director, said: “Our results this quarter demonstrate well?rounded growth across all businesses, prominently led by our Branded businesses in India, Emerging Markets and Global Innovative Medicines. Our innovative product offering has expanded further with the launch of Unloxcyt in the US and the introduction of Ilumya in India. Together, these new initiatives bring differentiated therapies and meaningful innovation closer to the patients.”

Result PDF

Pharmaceuticals company Sun Pharmaceutical Industries announced Q2FY26 results

  • Sales at Rs 1,44,052 million, a growth of 8.6%.
  • Global Innovative Medicines sales stood at USD 333 million, up 16.4% and accounting for 20.2% of sales.
  • EBITDA was Rs 45,271 million, up 14.9%. EBITDA margin was 31.3%.
  • Profit before exceptional items and tax was Rs 41,676 million, up 15.8%.
  • Net profit was Rs 31,180 million, up 2.6%.
  • R&D investment was Rs 7,827 million or 5.4% of sales.

Kirti Ganorkar, Managing Director, said: “India, Emerging Markets and Rest of World led our growth for the period. US sales of Innovative Medicines have surpassed Generics for the first time during the quarter. We remain focused on broadening our portfolio while strengthening in-house talent pool and execution capability.”

Result PDF

Pharmaceuticals company Sun Pharmaceutical Industries announced Q1FY26 results

  • Gross sales at Rs 1,37,861 million, growth of 10.1%.
  • India formulation sales at Rs 47,211 million, up 13.9%.
  • US formulation sales at USD 473 million, up 1.4%.
  • Global Innovative Medicines sales at USD 311 million, up 16.9%, accounting for 19.3% of Q1FY26 sales.
  • Emerging Markets formulation sales at USD 298 million, up 5.1%.
  • Rest of World formulation sales at USD 219 million, up 15.5%.
  • R&D investments at Rs 9,029 million or 6.5% of sales compared to Rs 7,940 million for Q1FY25.
  • EBITDA at Rs 43,017 million (including other operating revenues), up 19.2%, with resulting EBITDA margin of 31.1%.
  • Profit before exceptional items and tax was Rs 39,908 million up 16.6%.
  • Adjusted net profit (excluding the exceptional items) for Q1FY26 was Rs 29,961 million, up 5.7%. Reported net profit for Q1FY26 was Rs 22,786 million compared to Rs 28,356 million during Q1FY25.

Dilip Shanghvi, Chairman and Managing Director, said: "Sun had a strong performance during the quarter, where the overall growth reflects steady progress across all our markets. India continues to show strong momentum, contributing meaningfully to our performance. The U.S. launch of LEQSELVI represents an important step forward, offering a new treatment option for patients with severe alopecia areata. LEQSELVI augments our portfolio in dermatology and adds a growth engine to our Innovative Medicines business."

Result PDF

Pharmaceuticals company Sun Pharmaceutical Industries announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Gross sales at Rs 128,156 million, growth of 8.5%
  • India formulation sales at Rs 42,130 million, up 13.6%
  • US formulation sales at USD 464 million, down 2.5%
  • Global Specialty sales at USD 295 million, up 8.6%, accounting for 19.9% of Q4FY25 sales
  • Emerging Markets formulation sales at USD 261 million, up 6.3%
  • Rest of World formulation sales at USD 200 million, up 2.0%
  • R&D investments at Rs 8,166 million
  • EBITDA at Rs 37,161 million (including other operating revenues), up 22.4%, with resulting EBITDA margin of 28.7%
  • Adjusted net profit (excluding the exceptional items) for Q4FY25 was Rs 28,891 million, up 4.8%. Reported net profit for Q4FY25 was Rs 21,499 million compared to Rs 26,546 million during Q4FY24

FY25 Financial Highlights:

  • Gross sales at Rs 520,412 million, growth of 9.0%
  • India formulation sales at Rs 169,230 million, up 13.7%
  • US formulation sales at USD 1,921 million, up 3.6%
  • Global Specialty sales at USD 1,216 million, up 17.1%, accounting for 19.7% of FY25 sales
  • Emerging Markets formulation sales at USD 1,114 million, up 7.0%
  • Rest of World formulation sales at USD 847 million, up 4.5%
  • EBITDA at Rs 152,717 million (including other operating revenues), up 17.3%, with resulting EBITDA margin of 29.0%
  • Adjusted net profit (excluding the exceptional items) for FY25 was Rs 119,844 million, up 19.0%. Reported net profit for FY25 was Rs 109,290 million compared to Rs 95,764 million during FY24.

Dilip Shanghvi, Chairman and Managing Director of the Company said, "Our businesses delivered a robust performance for the year, driven by improving market share in India and growth in Global Specialty. The nearterm pipeline in Global Specialty is promising, with products such as Leqselvi and Unloxcyt—the latter through our recently announced Checkpoint acquisition—offering significant improvements in patient care. We look forward to Specialty becoming an increasingly important part of our business."

Result PDF

Pharmaceuticals company Sun Pharmaceutical Industries announced Q3FY25 results

  • Gross sales at Rs 134,369 million, growth of 10.5%.
  • India formulation sales at Rs 43,004 million, up 13.8%.
  • US formulation sales at USD 474 million, down 0.7%.
  • Global Specialty sales at USD 370 million, including USD 45 million milestone. Ex-milestones, up 17.5%.
  • Global Specialty sales, ex-milestone, accounted for 21% of Q3FY25 sales.
  • Emerging Markets formulation sales at USD 277 million, up 10.1%.
  • Rest of World formulation sales at USD 259 million, up 21%.
  • R&D investments at Rs 8,450 million compared to Rs 8,245 million for Q3FY24.
  • EBITDA at Rs 40,090 million (including other operating revenues), up 15.3%, with resulting EBITDA margin of 29.3%.
  • Adjusted net profit (excluding the exceptional items) for Q3FY25 was Rs 32,196 million, up 24.1%. Reported net profit for Q3FY25 was Rs 29,034 million compared to Rs 25,238 million during Q3FY24.

Dilip Shanghvi, Chairman & Managing Director, said: “Our performance in the quarter showed all-round improvement. Product sales in Global Specialty crossed 1/5th of overall sales. Our market share gain in India has been driven by industry leading volume growth. Emerging Markets demonstrated strong performance in spite of currency challenges across geographies. All our businesses remain well positioned for future.”

Result PDF

Pharmaceuticals company Sun Pharmaceutical Industries announced H1FY25 & Q2FY25 results

Q2FY25 Financial Highlights:

  • Gross sales at Rs 132,642 million, growth of 10.5%.
  • India formulation sales at Rs 42,652 million, up 11%.
  • US formulation sales at USD 517 million, up 20.3%.
  • Global Specialty sales at USD 286 million, up 19.2%.
  • Emerging Markets formulation sales at USD 293 million, up 3.2%.
  • Rest of World formulation sales at USD 199 million, down 3.5%.
  • R&D investments at Rs 7,929 million compared to Rs 7,734 million for Q2FY24.
  • EBITDA at Rs 39,390 million (including other operating revenues), up 23.9%, with resulting EBITDA margin of 29.6%.
  • Net profit for Q2FY25 was Rs 30,402 million, up 28% YoY.

H1FY25 Financial Highlights:

  • Gross sales at Rs 257,887 million, growth of 8.4%.
  • India formulation sales at Rs 84,097 million, up 13.6%.
  • US formulation sales at USD 983 million, up 9.1%.
  • Emerging Markets formulation sales at USD 577 million, up 5.9%.
  • Rest of World formulation sales at USD 388 million, down 3.2%.
  • EBITDA at Rs 75,466 million (including other operating revenues), up 15.9%, with resulting EBITDA margin of 29.1%.
  • Net profit for H1FY25 was at Rs 58,758 million, up 24.5% over the adjusted Net Profit of H1FY24.

Dilip Shanghvi, Chairman and Managing Director of the Company said: “Sun has recently strengthened its specialty pipeline through an agreement with Philogen for commercializing late stage candidate Fibromun, upon approval. With Fibromun, our product basket for dermatologists has expanded further. We shall continue to leverage our strong cash position to strengthen our pipeline with products that are close to market.”

Result PDF

Pharmaceuticals company Sun Pharmaceutical Industries announced Q1FY25 results:

  • Gross sales at Rs 1,25,245 million, growth of 6.3%
  • India Formulation sales at Rs 41,445 million, up 16.4%
  • US Formulation sales at USD 466 million, lower by 1.0%
  • Global Specialty sales at USD 266 million, up 14.7%
  • Global Specialty sales accounted for 17.7% of Q1FY25 sales
  • Emerging Markets Formulation sales at USD 284 million, up by 8.8%
  • Rest of World Formulation sales at USD 190 million, down by 2.9%
  • R&D investments at Rs 7,940 million compared to Rs 6,796 million for Q1FY24
  • EBITDA at Rs 36,076 million (including other operating revenues), up 8.3%. EBITDA margin for Q1 at 28.5% vs 27.9% during Q1FY24.
  • Net profit for Q1FY25 was Rs 28,356 million, up 40.2% YoY; up 20.9% over adjusted net profit of Q1FY24.

Dilip Shanghvi, Chairman and Managing Director of the Company said, “Sun has recently attained several milestones with the approval of Leqselvi in the US, the filing of Nidlegy in Europe and the completion of acquisition of Taro minority shares. These steps advance our innovative as well as generic business offerings, and will help us serve patients better.”

Result PDF

Sun Pharmaceutical Industries announced Q3FY24 & 9MFY24 results:

  • Consolidated Q3FY24:
    • Gross sales at Rs 121,569 million, growth of 9.5%
    • India formulation sales at Rs 37,785 million, up 11.4%
    • US formulation sales at US$ 477 million, up 13.2%
    • Global specialty sales at US$ 296 million, including US$20 million milestone received in Q3. Ex-milestones, up 24.2%
    • Global specialty sales, ex-milestone, accounted for 19.2% of Q3FY24 sales
    • Emerging Markets formulation sales at US$ 252 million, lower by 2.3%
    • Rest of World formulation sales at US$ 214 million, up 12.9%
    • R&D investments at Rs 8,245 million compared to Rs 6,702 million for Q3FY23
    • EBITDA at Rs 34,768 million (including other operating revenues), up 15.8%. EBITDA margin for Q3 at 28.1% vs 26.7% during Q3FY23
    • Adjusted net profit (excluding the exceptional items) for Q3FY24 was Rs 25,936 million, up 19.7%. Reported net profit for Q3FY24 was Rs 25,238 million compared to Rs 21,660 mn during Q3FY23
  • Consolidated 9MFY24:
    • Gross sales at Rs 359,451 million, growth of 10.4%
    • India formulation sales at Rs 111,814 million, up 9.2%
    • US formulation sales at US$ 1,378 million up 9.8%
    • Emerging Markets formulation sales at US$ 796 million, up 4.5%
    • Rest of World formulation sales at US$ 615 million, up 9.7%
    • EBITDA at Rs 99,880 million (including other operating revenues), up 12.9%, with a resulting EBITDA margin of 27.4%
    • Net profit for 9MFY24 was Rs 69,218 million. Like for like, adjusted net profit at Rs 73,145 million, up 12.7%
  • The Board has declared an interim dividend of Rs 8.50 per share for the year FY24 against Rs 7.50 per share interim dividend for the previous year. 

Result PDF

Sun Pharmaceutical Industries announced Q2FY24 & H1FY24 results:

  • Consolidated Q2FY24:
    • Gross sales at Rs 1,20,031 million, growth of 11.0% vs Q2FY23
    • India formulation sales at Rs 38,425 million, up 11.1% vs Q2FY23
    • US formulation sales at USD 430 million, up 4.2% vs Q2FY23
    • Global specialty sales at USD 240 million, up 19.3% vs Q2FY23
    • Global specialty sales accounted for 16.4% of Q2FY24 sales
    • Emerging Markets formulation sales at USD 284 million, up 9.4% vs Q2FY23.
    • Rest of World formulation sales at USD 206 million, up 13.7% vs Q2FY23
    • R&D investments at Rs 7,734 million (6.4% of sales) compared to Rs 5,710 million (5.3% of sales) for Q2
      last year
    • EBITDA at Rs 31,794 million (including other operating revenues), up 7.5% vs Q2FY23. EBITDA
      margin for Q2FY24 at 26.1% vs 27% for Q2FY23.
    • Net profit for the quarter was at Rs 23,755 million, up 5% YoY
  • Consolidated H1FY24:
    • Gross sales at Rs 2,37,883 million, a growth of 10.9% over H1FY23
    • India formulation sales at Rs 74,029 million, up 8.1% over H1FY23
    • US formulation sales at USD 901 million up by 8.2% over H1FY23
    • Emerging Markets formulation sales at USD 545 million up by 8.0% over H1FY23
    • Rest of World formulation sales at USD 401 million up by 8.0% over H1FY23
    • EBITDA at Rs 65,112 million (including other operating revenues), up 11.5% over H1FY23, with a resulting EBITDA margin of 27%
    • Net profit for H1FY24 was at Rs 43,981 million. Excluding the exceptional items of H1 current year, adjusted net profit was up by 9.2%

Dilip Shanghvi, Managing Director of the Company said, “US FDA’s acceptance of deuruxolitinib NDA for treatment of moderate to severe alopecia areata marks an important milestone. There are limited treatment options for alopecia areata and deuruxolitinib should make a meaningful difference in patient lives, once approved. Similarly, another late stage candidate Nidlegy will potentially complement our Odomzo franchise. Nidlegy’s recent positive phase-3 data in patients with locally advanced fully resectable melanoma positions us to provide patient solutions across a broad spectrum of skin cancers.”

 

Result PDF

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