Gross sales was at Rs 8,459 crores up 6 percent YoY and Q2 adjusted net profit is at Rs 1,590 crores up 49 per cent YoY
Sun Pharmaceutical Industries has reported financials for the second quarter and first half ending September 30, 2020. In Q2FY21 consolidated financials, the consolidated sales from operations was at Rs 8,459 crores, a growth of 6 percent over Q2 last year and up by 13 percent over Q1FY21. India sales was at Rs 2,531 crores, a growth of 1 percent over Q2 last year and up by 6 percent over Q1FY21. The US finished dosage sales was at $335 million, flat over Q2 last year and up by 19 percent compared to Q1FY21. The emerging markets sales was at $210 million, up by 4.5 percent over Q2 last year and up by 21 percent over Q1FY21. The Rest of World sales isat $178 million, growth of 10 percent over Q2 last year and up by 31 percent compared to Q1FY21. The R&D investments is at Rs 613 crores (7.2 percent of sales) compared to Rs 488 crores (6.1 percent of sales) for Q2FY20 and Rs 421 crores (5.6 percent of sales) for Q1FY21. The EBITDA was at Rs 2,099 crores, up by 30 percent over Q2 last year, with resulting EBITDA margin of 24.8 percent. Sequentially, EBITDA was up 22 percent with EBITDA margin improvement of 170 bps and was driven by gradual recovery in overall business coupled with control on expenses, despite higher R&D spending and forex losses. The adjusted net profit for Q2 was Rs 1,590 crores, up by 49 percent over Q2 last year, with resulting net profit margin of 18.8 percent. Compared to Q1FY21 adjusted net profit was up 39 percent. Reported net profit for Q2FY21 was at Rs 1,813 crores, up by 70 percent over Q2 last year.
During H1FY21 consolidated financials, the consolidated sales from operations was at Rs 15,926 crores, decline of 1.7 percent over same period last year. India sales was at Rs 4,920 crores, up by 2 per cent over H1 last year. The US finished dosage sales was at $ 617 million down by 19.2 percent over H1 last year. Sales for H1 last year included a one-time contribution from the special business in US and hence the numbers are not strictly comparable. The emerging markets sales is at $383 million down by 3 per cent over H1 last year. The Rest of World sales was at $314 million, down by 4.5 percent over H1 last year. The EBITDA was at Rs 3,824 crores up by 9.4 per cent over H1 last year, with resulting EBITDA margin of 24 per cent. Excluding the exceptional items, adjusted net profit for H1FY21 was at Rs 2,736 crores, up 12 per cent YoY, with resulting net profit margin at 17.2 per cent. Reported net profit for H1FY21 was at Rs. 157 crores.
The results were taken on record by the Board of Directors at a meeting held today.
Dilip Shanghvi, MD, Sun Pharma, said, “Our Q2 performance reflects our focus on business improvement which has enabled a gradual recovery in all our businesses compared to Q1, despite market conditions that have not fully normalised. Sales of our specialty products have improved sequentially with Ilumya and Cequa reaching pre-Covid levels. We continue to focus on growing our topline, gaining market share, cost control and business continuity. We also continue to serve our patients and customers while ensuring safety of our employees.”
