India · Delayed Price · Currency is INR Sun Pharmaceutical Industries Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY2026 saw 15.1% sales growth and 16% net profit rise year-over-year, driven by strong India, emerging markets, and innovative medicine performance. Gross margin improved to 81%, and the company maintains a robust net cash position of $3.2 billion.
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Q2 FY 2026 saw 8.6% sales growth, strong EBITDA and margin expansion, and robust innovative medicine performance, offset by U.S. generics decline. Cash position remains strong post-acquisitions, with continued R&D investment and new launches driving future growth.
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Q1 FY 2026 saw 10.1% sales growth and 19.2% EBITDA growth, led by strong India and innovative medicines performance. U.S. business grew modestly, offset by generic pricing pressure, while new launches and a robust cash position support future investments. EBITDA margin reached 31.1%.
Fiscal Year 2025
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FY25 saw 9% sales growth and 17% EBITDA growth, led by strong India and specialty business performance, while US generics faced pressure. FY26 guidance is for mid to high single-digit growth, with increased R&D and specialty launch investments.
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Q3 FY25 saw 10.5% sales growth and 15.3% EBITDA growth year-over-year, with strong India and specialty segment performance. Adjusted net profit rose 24.1%, and the company maintained a $3 billion net cash position while increasing its interim dividend.
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Q2 FY25 saw 10.5% revenue growth and 28% net profit increase, driven by strong India and U.S. performance, higher specialty sales, and robust R&D investment. Guidance for FY25 R&D spend is 7%-8% of sales, with continued focus on specialty pipeline and new launches.
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Q1 FY 2025 saw 6.3% revenue growth and a 40.2% net profit increase year-over-year, with strong India and specialty sales offsetting a slight U.S. decline. Taro is now fully consolidated, and R&D spend is set to rise in coming quarters.