Transcript for 22 May 2026 Analyst Meet
SUNPHARMA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Sun Pharma reported Q4 FY26 sales of INR 1,45,598 million, up 13.6% YoY, with gross margin at 80.8%. EBITDA came in at INR 39,542 million with a margin of 27.1%, lower than both YoY (28.7%) and QoQ (31.9%) due to lower milestone income, reduced Revlimid contribution, and elevated spending in certain geographies including the US. Full year FY26 sales were INR 582 billion with EBITDA margin of 30.3%. The company announced Organon acquisition is on track for Q4 FY27 completion. India formulations grew 14.8% with market share reaching 8.4% (highest gain since Ranbaxy acquisition). US Innovative Medicines crossed $1 billion for the first time. FY27 guidance includes high single-digit topline growth and R&D spend of 6-7% of sales.
Q4 margins declined due to one-off elevated costs, but management expects normalization. The company remains focused on growing Innovative Medicines and specialty portfolio while integrating the Organon acquisition. Cash position remains strong at $3.2 billion net cash.