Sun Pharmaceutical Industries Limited — Investor Meet, 29-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Sun Pharma reported 9% sales growth at Rs. 52,041 Cr for FY25 with EBITDA margin at 29% and adjusted PAT rising 19% to Rs. 11,984 Cr. Q4 sales grew 8.5% YoY to Rs. 12,816 Cr, EBITDA margin improved to 28.7%, and adjusted profit rose 4.8% despite Rs. 362 Cr in exceptional items. India formulations jumped 13.7% (Rs. 16,923 Cr), maintaining the largest market share (8.3%). US sales reached $1.92 billion (+3.6%) driven by Specialty, though Q4 US sales dipped 2.5% on generics pressure. Emerging markets grew 7%, Specialty sales surged 17.1% to $1.22 billion, led by ILUMYA at $681 million (+17%). R&D spend was Rs. 811 Cr (6.4% of sales), with plans for $100 million more in FY26 targeting Specialty launches including Leqselvi. Management expects mid to high single-digit revenue growth amid global uncertainties, with no margin guidance due to investment phase. Net cash stands at $3.1 billion.