Sun Pharmaceutical Industries Limited has reported net profit for Q4 FY21 at Rs. 894.15 crore, up 124% over Q4 last year. 

The company's Q4 consolidated sales from operations stood at Rs. 8,431.4 crore, growth of 4.4% over Q4 last year. India sales at Rs. 2,670.9 crore, growth of 12.9% compared to Q4 last year. US finished dosage sales at US $370 million, decline of 1.3% over same quarter last year. Emerging Markets sales at US $192 million, up by 2.8% over Q4 last year and Rest of World sales at US $163 million, up by 5.5% over Q4 last year. 

Consolidated sales from operations for FY21 at Rs. 33,139.2 crore, up by 2.5% over the same period last year. India sales at Rs. 10,343.2 crore, up by 6.5% over the same period last year. US finished dosage sales at US $1,360 million, a decline of 8.5% over the same period last year. Emerging Markets sales at US $780 million, flat over the same period last year. Rest of World sales at US $650 million, up by 1.9% over the same period last year. 

Adjusted net profit for the year was at Rs. 5,931.8 crore, up by 47.4% YoY, after excluding the exceptional items. Reported net profit for FY21 at Rs. 2,903.8 crore, lower by 23% over last year. 

The Board has proposed a final dividend of Rs. 2 per share for the year FY21, in addition to the interim dividend of Rs. 5.50 per equity share declared on January 29, 2021. 

Dilip Shanghvi, Managing Director of the company said, “FY21 was a year marked by a highly volatile business environment due to the global Covid-19 pandemic and lockdowns in various countries. Despite these challenges, I am happy to see that we have been able to maintain business continuity and record positive overall growth. While our India business continues to outperform the average industry growth, our global specialty sales have continued to show an improving trend. Global Ilumya sales for the year have grown by 51% to US $143 million.” 

Sales in Emerging Markets were at US $192 million for Q4, a growth of 2.8% over Q4 last year. Overall sales in Emerging Markets accounted for about 17% of total consolidated sales for the quarter. 

Formulation sales in Rest of World (RoW) markets, excluding US and Emerging Markets, were US $163 million in Q4 FY21, up by 5.5% over Q4 last year and accounted for approximately 14% of total consolidated sales. 

For Q4 FY21, external sales of API were at Rs. 435.7 crore down 9.9% over Q4 last year. For the full year FY21, API sales were at Rs. 1,950 crore, up by 1.8% over the same period last year. 

Consolidated R&D investment for Q4 FY21 was Rs. 557.1 crore or 6.6% of sales. For the full year FY21, R&D expense was Rs. 2,150 crore or 6.5% of sales. The company's R&D effort spans across both specialty and generic businesses. The company continues to invest in building the pipeline for various markets including the US, Emerging Markets, RoW Markets and for India. 

The company has a comprehensive product offering in the US market consisting of approved ANDAs for 501 products while filings for 94 ANDAs await US FDA approval, including 23 tentative approvals. For the quarter, 8 ANDAs were filed and 5 approvals were received. Additionally, the portfolio includes 55 approved NDAs while 9 NDAs await US FDA approval.