Sun Pharma announced its Q1FY08 result. Its Q1 consolidated net profit was up at Rs 227.20 versus Rs 176.73 crore on YoY basis. During the corresponding quarters, its net sales were up at Rs 627.50 crore versus Rs 511.64 crore, YoY.
Key takeaways from Sun Pharma concall
Sun Pharma proposes to raise Rs 35 billion after approval of shareholders, this money will help in the bidding process for generic acquisitions in the near future.
Global generic market is extremely competitive and growing very fast
Net sales increased by 23% YoY
Company has been maintained positive sales for last 56 quarters since its listing
Staff cost is 12% of sales
Domestic formulation has largest share in the sales, constitutes 56% of sales ; growth of 26%
FY08 Guidance - Topline will grow by 15-18% for Sun Pharma and for R&D at 8-10%
Revenues in the API business increase by 13% to Rs 2.6 billion (USD 64 mn) in Q1 FY08 from Rs 2.3 billion (USD 57 mn) in Q1 FY07 primarily driven by growth in international markets.
Revenues from betapharm at Rs 2.1 billion (USD 53 mn) in Q1 FY08 as compared to Rs 1.9 billion (USD 49 mn) in Q1 FY07.
9 key products launched in domestic market
Holds 3.3% of market share in domestic market
Taro shareholders meeting for approval of acquisition postponed to Sept 25th
