Sun Pharma crosses $2 billion in sales

Sun Pharma grew 40 percent over previous year to record Rs 11,239 crore in net sales in FY 2012-13 with the recurring net profit growing 39 percent over previous year


Sun Pharmaceutical reported financials for the fourth quarter and year ending March 31, 2013. The consolidated FY13 consolidated financials saw net sales at Rs 11,239 crore, a growth of 40% over previous year. The India branded generic sales were at Rs 2,966 crore. The US finished dosage sales at US$ 1,132 million grew by 56% (in US$ terms) over previous year while international formulation sales at US$ 281 million grew by 21% (in US$ terms) over the same period last year. EBITDA was Rs 4,906 crore and grew by 51% YoY. The recurring net profit was at Rs 3,591 crore witnessed a growth of 39% over previous year with a resulting margin of 32%. For Q3FY13, the net sales stood at Rs. 3,071 crore, a growth of 32% over same quarter last year.

In Q2FY13, the company had made a provision of Rs 584 crore towards potential damages in respect of patent infringement litigation related to generic Protonix. After considering this provision, net profit for FY13 was at Rs 3,008 crore, registering a growth of 16% over corresponding period last year.

Mr Dilip Shanghvi, managing director of the company said, "I am very pleased to announce that, our sales for FY13 have crossed the US$ 2 billion mark. While it took us almost 27 years to record US$ 1 billion in revenues, the next billion was added in just 3 years."

He further said, "All our businesses continue to perform in-line with our expectations. We continue to focus on building a differentiated and specialty product portfolio and enhancing our international presence. Overall, we shall strive to remain focused on execution and building a business with consistent performance."

The sale of branded prescription formulations in India was Rs 780 crore for the fourth quarter, accounting for 25% of total sales. For FY13, sales were at Rs 2,966 crore accounting for 26% of total sales.


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