Sun Pharmaceuticals Industries Ltd

Sun Pharmaceuticals Industries Ltd

₹ 1,552 0.11%
04 Mar 4:01 p.m.
About

Sun Pharmaceutical Industries Ltd is engaged in the business of manufacturing, developing and marketing a wide range of branded and generic formulations and Active Pharma Ingredients (APIs). The company and its subsidiaries has various manufacturing facilities spread across the world with trading and other incidental and related activities extending to global market.[1] It is the largest pharmaceutical company in India.[2]

Key Points

Product Offerings
The company produces a comprehensive and diverse portfolio of generic and specialty medicines targeting wide spectrum of chronic and acute treatments. Its product portfolio includes generics, branded generics, specialty, difficult-to-make technology intensive products, anti-retrovirals, APIs and intermediates.[1] It offers medicines in all form of dosages i.e. injectables, sprays, ointments, creams, liquids, tablets and capsules.[2]

  • Market Cap 3,72,317 Cr.
  • Current Price 1,552
  • High / Low 1,588 / 922
  • Stock P/E 39.8
  • Book Value 249
  • Dividend Yield 0.74 %
  • ROCE 16.4 %
  • ROE 16.6 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 26.4% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 56.0%

Cons

  • The company has delivered a poor sales growth of 10.6% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 14.0% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
8,837 8,523 9,719 9,626 9,863 9,447 10,762 10,952 11,241 10,931 11,941 12,192 12,381
6,431 6,475 6,898 6,996 7,257 7,106 7,877 7,996 8,237 8,129 8,609 9,013 8,904
Operating Profit 2,406 2,048 2,821 2,630 2,606 2,340 2,884 2,957 3,004 2,802 3,332 3,179 3,477
OPM % 27% 24% 29% 27% 26% 25% 27% 27% 27% 26% 28% 26% 28%
315 -562 -479 223 433 -3,822 2 85 174 202 -118 294 180
Interest 26 30 35 36 19 37 14 19 46 93 81 49 35
Depreciation 532 553 503 530 554 556 588 610 660 672 651 633 622
Profit before tax 2,163 903 1,804 2,287 2,466 -2,076 2,285 2,412 2,471 2,240 2,481 2,791 3,000
Tax % 11% 6% 22% 9% 14% -7% 8% 6% 11% 10% 19% 14% 14%
1,913 842 1,404 2,086 2,126 -2,227 2,093 2,256 2,181 1,983 2,006 2,385 2,561
EPS in Rs 7.72 3.73 6.02 8.53 8.58 -9.49 8.59 9.43 9.03 8.27 8.43 9.90 10.52
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
8,019 11,131 16,080 27,392 28,487 31,578 26,489 29,066 32,838 33,498 38,654 43,886 47,445
5,047 6,346 9,078 19,498 20,313 21,476 20,858 22,689 25,855 25,028 28,397 32,109 34,655
Operating Profit 2,972 4,784 7,003 7,894 8,174 10,102 5,631 6,377 6,983 8,470 10,258 11,777 12,790
OPM % 37% 43% 44% 29% 29% 32% 21% 22% 21% 25% 27% 27% 27%
702 -90 -1,968 283 -42 610 -135 -258 382 -3,449 -3,505 333 557
Interest 28 43 44 579 523 400 518 555 303 141 127 172 258
Depreciation 291 336 409 1,195 1,038 1,265 1,500 1,753 2,053 2,080 2,144 2,529 2,578
Profit before tax 3,355 4,315 4,581 6,403 6,571 9,048 3,479 3,810 5,010 2,799 4,481 9,408 10,512
Tax % 9% 20% 15% 14% 14% 13% 26% 16% 16% 18% 24% 9%
3,042 3,469 3,879 5,476 5,658 7,846 2,542 3,208 4,172 2,272 3,389 8,513 8,934
EPS in Rs 12.83 14.40 15.17 21.92 18.89 29.03 8.73 11.11 15.69 12.10 13.64 35.32 37.12
Dividend Payout % 17% 9% 10% 14% 5% 12% 23% 25% 25% 62% 73% 33%
Compounded Sales Growth
10 Years: 15%
5 Years: 11%
3 Years: 10%
TTM: 12%
Compounded Profit Growth
10 Years: 10%
5 Years: 26%
3 Years: 30%
TTM: 16%
Stock Price CAGR
10 Years: 10%
5 Years: 28%
3 Years: 36%
1 Year: 61%
Return on Equity
10 Years: 14%
5 Years: 12%
3 Years: 14%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 104 104 207 207 241 240 240 240 240 240 240 240 240
Reserves 12,132 14,886 18,318 25,431 32,742 36,400 38,074 41,169 45,025 46,223 47,771 55,755 59,586
321 260 2,561 8,996 8,497 9,832 10,385 10,514 8,315 3,869 1,290 6,886 1,928
3,762 5,128 8,009 14,089 13,948 14,624 15,598 12,666 14,615 17,291 20,474 17,831 17,687
Total Liabilities 16,319 20,377 29,095 48,723 55,428 61,095 64,297 64,590 68,194 67,622 69,776 80,712 79,441
3,951 5,647 6,817 12,682 15,872 17,675 18,853 21,837 22,847 21,553 22,665 24,420 27,892
CWIP 345 563 842 2,039 2,175 2,801 2,465 1,411 1,220 1,567 1,287 4,973 1,017
Investments 2,213 2,412 2,786 2,716 1,830 1,192 7,143 7,903 10,143 9,612 12,849 14,830 12,868
9,810 11,756 18,650 31,286 35,550 39,427 35,837 33,439 33,984 34,890 32,975 36,489 37,664
Total Assets 16,319 20,377 29,095 48,723 55,428 61,095 64,297 64,590 68,194 67,622 69,776 80,712 79,441

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
2,234 3,357 3,959 5,616 6,686 7,082 3,907 2,196 6,555 6,170 8,985 4,959
-748 -2,375 -2,176 -1,502 -3,949 -4,186 -3,104 -310 -2,225 407 -5,556 -7,220
-544 -665 507 -1,187 -1,889 -2,285 -1,539 -2,731 -5,715 -5,980 -5,193 2,376
Net Cash Flow 942 316 2,290 2,927 848 611 -736 -844 -1,386 596 -1,765 115

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 95 79 50 68 87 83 108 112 105 99 99 95
Inventory Days 464 454 410 307 370 307 338 366 311 378 315 360
Days Payable 221 186 174 178 207 197 234 192 142 167 158 194
Cash Conversion Cycle 338 347 286 197 251 193 212 285 274 310 255 261
Working Capital Days 127 111 126 76 104 73 79 137 112 84 55 93
ROCE % 26% 32% 34% 23% 18% 20% 10% 10% 10% 13% 17% 16%

Shareholding Pattern

Numbers in percentages

4 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
54.48% 54.48% 54.48% 54.48% 54.48% 54.48% 54.48% 54.48% 54.48% 54.48% 54.48% 54.48%
11.67% 11.50% 12.07% 13.00% 14.44% 14.95% 16.00% 16.87% 16.88% 16.48% 16.78% 17.08%
21.62% 21.97% 21.73% 20.99% 20.02% 19.66% 19.64% 19.08% 19.18% 19.65% 19.56% 19.42%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.06% 0.06% 0.06% 0.09% 0.10% 0.11%
12.23% 12.05% 11.72% 11.53% 11.06% 10.91% 9.80% 9.52% 9.38% 9.28% 9.05% 8.92%
No. of Shareholders 7,09,0457,57,3666,75,9086,80,8006,62,3846,47,1676,43,5126,32,3376,25,2526,24,5616,16,5886,12,626

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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