![]() Sun Pharma EBIDTA likely to improve sharplyPublished on Fri, May 18, 2007 at 14:23 | Source : Moneycontrol.com Updated at Fri, May 18, 2007 at 18:18
Sun Pharma is to announce its Q4FY07 result. According to CNBC-TV18 estimates, the company is expected to post Q4 net profit of Rs 190.9 crore versus Rs 142.8 crore, up 34% on YoY basis. The net sales of the company are expected to go up by 28% at Rs 518.9 crore versus Rs 405.4 crore in the corresponding quarter previous year. SUN PHARMA Q4FY07 YoY (consolidated) - Net sales up 28% at Rs 518.9 Cr vs Rs 405.4 Cr - Operating profit at Rs 165 Cr vs Rs 96.9 Cr - OPM at 32% vs 24% - Net profit up 34% at Rs 190.9 Cr vs Rs 142.8 Cr SUN PHARMA FY07 YoY (consolidated) - Net sales up 26.37% at Rs 2066.8 Cr vs Rs 1635.9 Cr - Operating profit 38% at Rs690Cr vs Rs497.4Cr - OPM at 33% vs 29% - Net profit up 37.9% at Rs 790.50Cr vs Rs572.9Cr SUN PHARMA Factor to watch for -Exports likely to surge due to growth in formulation exports powered by strong sales from its US subsidiary Caraco -Good growth in domestic sales expected -EBIDTA margins are expected to improve sharply on account of low base last year, which was impacted by one-time acquisition related expenses -The progress on integration benefits of acquisition of Able Pharma -Could make come acquisitions as it has strong cash balance of US $500mn of cash on its balance sheet (However big ticket acquisition is unlikely due to managements reluctance to participate in high-profile bidding wars). SUN PHARMA -De-merged R&D entity SPARC (will list soon - listing date not fixed ) -R&D pipeline is valued at US$250m toUS$300m which is Rs 50- 65 per share -With earliest expected launch in 2009 for one of the NDDS product -R&D cost as a percentage of sales will come down significantly to the parent Sun Pharma (8% of total sales in FY06) SUN PHARMA Sales Break up: -Domestic formulation 52% -Domestic bulk drugs 4% -Export bulk drug 10% - Export formulation 34%
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