Sun Pharmaceutical Industries Ltd reported financials for the fourth quarter & full year ending March 31st, 2020 to BSE yesterday posting a 59% loss . Slump in profit was due to payment of Rs 260 crore to the Department of Justice in the USA as settlement charges and increasing expenses.
Highlights of Q4FY20 consolidated financials
· Sales / Income from operations at Rs. 8,078 crores, a growth of about 15% over same quarter last year.
· India sales at Rs. 2,365 crores for Q4FY20. Sales for same period last quarter include a one-time impact of
approximately Rs. 1,085 crores related to the change in distribution for India business. Adjusted for this
impact, India sales have grown 8% YoY for the quarter.
· US finished dosage sales at US$ 375 million, decline of 15% over same quarter last year. Sales for Q4 last year
included a one-time contribution from the special business in US and hence the numbers are not strictly
comparable.
· Emerging Markets sales at US$ 187 million, up by 8% over Q4 last year.
· Rest of World sales at US$ 155 million, up by 1% over Q4 last year.
· R&D investments at Rs. 536 crores (6.6% of sales) compared to Rs. 567 crores for Q4FY19.
· EBITDA at Rs. 1,256 crores, with resulting EBITDA margin of 15.5%. Approximately 50% of the EBITDA
margin decline versus Q3FY20 is due to the adverse impact of forex loss in Q4FY20.
· Adjusted net profit for quarter was at Rs. 660 crores excluding the impact of exceptional items of Rs. 260
crores. Reported net profit for Q4FY20 was at Rs. 400 crores.
Highlights of FY20 consolidated financials
· Sales / Income from operations at Rs. 32,325 crores, growth of about 13% over same period last year.
· India sales at Rs. 9,710 crores, up 32% YoY. Excluding the one-time impact mentioned above, the adjusted
growth was 15% YoY.
· US finished dosage sales at US$ 1,487 million, decline of 2% over same period last year.
· Emerging Markets sales at US$ 776 million, up by 1% over same period last year.
· Rest of World sales at US$ 638 million, growth of 29% over same period last year. This growth was partly
driven by the full year consolidation of Pola Pharma acquisition in Japan.
· EBITDA at Rs. 6,477 crores up by 9% over same period last year, with resulting EBITDA margin of 20%.
· Excluding the exceptional items for both FY20 and FY19, net profit for FY20 was at Rs. 4,026 crores, up
approximately 4% over FY19. Reported net profit for FY20 was at Rs. 3,765 crores.
These results were taken on record by the Board of Directors at a meeting held in Mumbai today. The Board has
proposed a final dividend of Re. 1 per share for the full year FY20.
Dilip Shanghvi, Managing Director of the Company said, “I am happy to see that we are able to maintain business
continuity in these challenging times, so that patients continue to get access to their much needed medications.
We are also supporting various Governments in their efforts to combat Covid-19. In terms of business
performance, we have done well and have started gaining market share in India. Our global specialty business has
also gained reasonable traction with Ilumya recording approximately US$ 94 million sales globally in the first full
year of commercialization. Our endeavor will be to gain market share in each of our businesses by doing better,
despite the near term uncertainties related to Covid-19."