Sun Pharmaceutical Industries, a Rs.27,200 crore plus India's leading pharma company, has posted lower consolidated profit of Rs.888 crore during the fourth quarter ended March 2015 as compared to Rs.1,587 crore in the corresponding period of last year mainly due to merger of Ranbaxy Laboratories Ltd. The performance has impacted due to various one-time charges. EBIDTA worked out to Rs.880 crore and EBIDTA margin of 14.3 per cent. EPS worked out to Rs.3.69 as against Rs.7.66 in the last period.
Its consolidated net sales moved up sharply by 52 per cent to Rs.6,145 crore from Rs.4,044 crore. The sales of branded generic sales in India amounted to Rs.1,569 crore during the quarter under review. Its US finished dosage sales reached at US$ 488 million and in emerging market at $123 million.
Dilip Shanghvi, managing director, said, “Post the completion of the merger, we have commenced the integration of Ranbaxy, Our performance has been impacted due to various one-time charges, mainly on account of the Ranabxy merger as well as due to price erosion for some of our products in the US. It also reflects the impact of supply constraints related to the on-going remediation efforts at some of our facilities. We are pledged to being 100 per cent cGMP compliant and are fully responsible towards our customers and patients across the world who rely on us for quality products.”
Sun Pharma's consolidated net for the full year ended March 2015 touched to Rs.27,287 crore with merger of Ranabxy Laboratories as compared to Rs.6,004 crore in the previous year. Its consolidated net profit reached at Rs.4,541 crore as against Rs.3,141 crore. EPS worked out to Rs.18.85 as against Rs.15.17 in the last period.
The company's sales of branded generics in India amounted to Rs.6,717 crore. Its sales of formulation in US reached at US$ 2,244 million accounting for 50 per cent of total sales. Taro's sales were at $863 million, up by 14 per cent. The sales in emerging markets accounted for 14 per cent at $611 million. RoW sales of formulation reached at $381 million. RoW market accounted for over 8 per cent of revenues for full year 2014-15.
The company increased the API supply for captive consumption significantly for key products which enabled it to enjoy the benefits of strategic vertical integration. Its full year's APIs sales reached at Rs.991 crore. A cumulative of 396 DMF/CEP applications have been made, with 270 approved so far.
The R&D expenditure for the year 2014-15 reached at Rs.1,955 crore at 7.2 per cent of sales during 2014-15. It now has a comprehensive product offering in the US market with approved ANDAs for 438 products while filings for 159 products await US FDA approval, including 12 tentative approvals. For 2014-15, ANDAs for 19 products were filed and 14 approvals were received. The total number of patent applications submitted now stands at 1,598 with 951 patents granted so far.