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Sun Pharma Q1 FY22 Conference Call Highlights - Sun Pharma Financial Results | Invest Yadnya

Sun Pharma Q1 FY22 Conference Call Highlights

Published on 02 August 2021 Views 15 Comments 0

Financial Highlights

Standalone Business

  • Revenue from operations according to Sun Pharma annual report, stood at 3326 crores rising 12% YOY & 5% QOQ of the Sun Pharma mutual fund.

  • Operating Expenses of Sun Pharma share price also rose to 2836 crores rising 23% YOY & 14% QOQ as of Sun Pharma financial report.

  • The EBITDA of Sun Pharma financial result stood at 689 crores declining 7% YOY & 3% QOQ according to Sun Pharma fundamental analysis.

  • EBITDA of Sun Pharma fundamental Margin stood at 21% declining 4% YOY & 2%QOQ as of Sun Pharma technical analysis.

  • PAT of Sun Pharma analysis stood at 419 crores declining 21% YOY but rising 28% QOQ according to Sun Pharma technical chart.

  • PAT margin stood at 13% declining 5% YOY but rising 3% QOQ

Consolidated Business

  • Revenue from operations as of Sun Pharma share price history stood at 9719 crores rising 28% YOY & 14% QOQ

  • Operating Expenses also rose to 6978 crores rising 19% YOY & 7.7% QOQ

  • EBITDA stood at 2974 crores rising 49% YOY & 38% QOQ

  • EBITDA Margin stood at 31% rising 5% YOY & 6%QOQ

  • PAT stood at 1444 crores rising 187% YOY & 61% QOQ

  • PAT margin stood at 15% rising 37% YOY& 5% QOQ

Note: YOY PAT & PAT margin was negative due to one-off events

Business Highlights

  • Results were driven by robust core business growth, low base, and some sale of Covid products

  • India contributed 34% of total revenue. Covid products contributed 8-10% of India sales. The sale of branded formulations in India for Q1FY22 was at Rs. 33,084 million, up by 39% over Q1 last year, and accounting for 34% of total sales.

  • Sun Pharma is ranked No. 1 and holds above 8.0% market share in the over Rs. 1,594 Billion Indian pharmaceutical market as per AIOCD AWACS MAT June-2021 report. For Q1FY22, the company launched 13 new products in the Indian market.

  • The company launched 13 new products in the Indian market in Q1FY22

  • The US was 29% of total sales, driven by growth in specialty business

  • The management witnessed an uptick in sales of ILumya, Ceqa, etc, which countered the loss in business of Absorica

  • Following specialty products are under development ILumya for Psoriatic Arthritis

    • GLP 1R for diabetes

    • SCD-044 for Atopic Dermatitis

  • Recently licensed Winlevi (topical treatment for acne) will add to Derma portfolio and the management expects to launch the same in the US by December 2021

  • Patients doctor visit in the US is still below pre-Covid levels but the situation is getting normalized.

  • Emerging Markets: Sales in Emerging Markets were at US$ 218 million for Q1, a growth of 25% over Q1 last year. Overall sales in Emerging Markets accounted for about 17% of total consolidated sales for the quarter.

  • Rest of World Markets: Formulation sales in Rest of World (ROW) markets, excluding US and Emerging Markets, were US$ 185 million in Q1FY22, up by 35% over Q1 last year and accounted for approximately 14% of total consolidated sales.

  • Active Pharmaceutical Ingredients (API): Strategic strength For Q1FY22, external sales of API were at Rs. 5,149 million, down 7% over Q1 last year. API business imparts benefits of vertical integration and continuity of supply chain for the formulations business.

  • Global specialty revenue for Q1FY22: US$148 million. The management guided for double-digit growth in specialty portfolio for FY22

  • Consolidated R&D investment for Q1FY22 was 592.6 crore compared to 420.6 million for Q1 last year. Specialty R&D was 26% of total R&D investment

  • Approved ANDAs: 505, approved NDAs: 53 filings: 86 ANDAs & 13 NDAs await US FDA approval, including 22 tentative approvals. Six approvals were received in Q1FY22

  • The company has repaid debt of about US$185 million in Q1FY22. Over the last five quarters, debt repaid was about US$765 million. The company is net cash positive (ex-Taro)

  • R&D Expenditure Breakup: 592.6 crores: Capital Exp:17.7 crores & Revenue 574.8 crores

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