Sun Pharmaceuticals Industries Ltd

About [ edit ]

Sun Pharmaceuticals Industries is engaged in the business of manufacturing, developing and marketing a wide range of branded and generic formulations and Active Pharmaceutical Ingredients (APIs).(Source : 202003 Annual Report Page No:112)

  • Market Cap 165,902 Cr.
  • Current Price 691
  • High / Low 722 / 434
  • Stock P/E 35.8
  • Book Value 188
  • Dividend Yield 0.80 %
  • ROCE 10.5 %
  • ROE 9.06 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 24.38%

Cons

  • Stock is trading at 3.68 times its book value
  • The company has delivered a poor sales growth of 3.69% over past five years.
  • Company has a low return on equity of 8.36% for last 3 years.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
6,977 7,224 6,938 7,740 7,164 8,374 8,123 8,155 8,185 7,585 8,553 8,837
5,294 5,617 5,406 5,587 6,147 6,379 6,334 6,313 6,822 5,742 6,360 6,431
Operating Profit 1,683 1,607 1,531 2,153 1,017 1,996 1,790 1,841 1,363 1,844 2,193 2,406
OPM % 24% 22% 22% 28% 14% 24% 22% 23% 17% 24% 26% 27%
Other Income 303 200 -863 193 282 213 201 120 -158 -3,480 544 315
Interest 155 131 130 145 150 104 84 63 52 52 33 26
Depreciation 455 402 427 471 454 457 473 547 575 496 499 532
Profit before tax 1,376 1,274 112 1,730 694 1,647 1,433 1,351 577 -2,184 2,205 2,163
Tax % -15% 7% 241% 16% -4% 9% 19% 24% 14% -11% 12% 11%
Net Profit 1,342 1,057 -270 1,242 636 1,387 1,064 914 400 -1,656 1,813 1,852
EPS in Rs 5.60 4.41 -1.12 5.18 2.65 5.78 4.43 3.81 1.67 -6.90 7.56 7.72

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
4,183 4,007 5,728 8,019 11,131 16,080 27,392 28,487 31,578 26,489 29,066 32,838 33,160
2,319 2,644 3,768 4,816 6,346 9,367 19,706 20,425 21,489 20,885 22,710 25,883 25,354
Operating Profit 1,864 1,363 1,960 3,203 4,784 6,713 7,686 8,062 10,089 5,605 6,356 6,955 7,806
OPM % 45% 34% 34% 40% 43% 42% 28% 28% 32% 21% 22% 21% 24%
Other Income 214 211 355 472 -90 -1,679 491 69 623 -108 -237 410 -2,779
Interest 6 6 74 28 43 44 579 523 400 518 555 303 163
Depreciation 123 153 205 291 336 409 1,195 1,038 1,265 1,500 1,753 2,053 2,102
Profit before tax 1,949 1,415 2,036 3,355 4,315 4,581 6,403 6,571 9,048 3,479 3,810 5,010 2,762
Tax % 4% 5% 6% 9% 20% 15% 14% 14% 13% 26% 16% 16%
Net Profit 1,818 1,351 1,816 2,657 2,983 3,141 4,539 4,546 6,964 2,096 2,665 3,765 2,410
EPS in Rs 8.78 6.52 8.77 12.83 14.40 15.17 21.92 18.89 29.03 8.73 11.11 15.69 10.05
Dividend Payout % 16% 21% 20% 17% 9% 10% 14% 5% 12% 23% 25% 25%
Compounded Sales Growth
10 Years:23%
5 Years:4%
3 Years:1%
TTM:4%
Compounded Profit Growth
10 Years:11%
5 Years:-3%
3 Years:-17%
TTM:16%
Stock Price CAGR
10 Years:12%
5 Years:-3%
3 Years:13%
1 Year:54%
Return on Equity
10 Years:15%
5 Years:12%
3 Years:8%
Last Year:9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
104 104 104 104 104 207 207 241 240 240 240 240 240
Reserves 6,941 7,725 9,380 12,132 14,886 18,318 25,383 32,741 36,400 38,074 41,169 45,025 44,832
Borrowings 179 171 426 321 260 2,561 8,996 8,497 9,832 10,385 10,514 8,315 5,473
917 951 2,329 3,762 5,128 8,009 14,137 13,949 14,624 15,598 12,666 14,615 17,126
Total Liabilities 8,141 8,951 12,238 16,319 20,377 29,095 48,723 55,428 61,095 64,297 64,590 68,194 67,671
1,788 1,939 3,293 3,951 5,647 6,817 12,682 15,872 17,675 18,853 21,837 22,847 22,780
CWIP 157 145 235 345 563 842 2,039 2,175 2,801 2,465 1,411 1,220 982
Investments 1,859 3,166 2,230 2,213 2,412 2,786 2,716 1,830 1,192 7,143 7,903 10,143 9,954
4,336 3,701 6,480 9,810 11,756 18,650 31,286 35,550 39,427 35,837 33,439 33,984 33,956
Total Assets 8,141 8,951 12,238 16,319 20,377 29,095 48,723 55,428 61,095 64,297 64,590 68,194 67,671

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
2,165 781 2,281 2,234 3,357 3,959 5,616 6,686 7,082 3,907 2,196 6,555
-1,484 -214 -1,300 -748 -2,375 -2,176 -1,502 -3,949 -4,186 -3,104 -310 -2,225
-267 -346 -804 -544 -665 507 -1,187 -1,889 -2,285 -1,539 -2,731 -5,715
Net Cash Flow 414 221 177 942 316 2,290 2,927 848 611 -736 -844 -1,386

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 31% 19% 23% 28% 35% 38% 25% 20% 21% 10% 11% 11%
Debtor Days 77 107 70 95 79 50 68 87 83 108 112 105
Inventory Turnover 1.09 1.16 1.22 1.00 0.97 1.06 1.66 1.14 1.31 1.16 1.15 1.25

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
54.38 54.38 54.38 54.38 54.38 54.55 54.56 54.69 54.69 54.69 54.48 54.48
16.40 16.78 14.88 15.54 14.93 14.70 13.89 12.81 12.70 12.38 12.19 11.67
16.58 16.53 17.65 17.32 17.98 18.53 19.07 19.56 20.11 20.45 20.84 21.62
12.64 12.31 13.09 12.76 12.71 12.23 12.48 12.94 12.51 12.48 12.49 12.23

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