Hold Sun Pharmaceutical Industries; target of Rs 600: Sharekhan

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26 Aug, 2025 12:21

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Sharekhan's research report on Sun Pharmaceutical Industries

The key plant of Sun Pharmaceutical Industries (Sun) at Halol was re-inspected by the USFDA in February 2018 and was issued Form 483 with fresh three observations.The fresh observations relate to equipment, employee training and incubation temperature, i.e. they are procedural in nature and do not point towards data integrity issues. Hence, these issues are addressable and can be resolved in three to six months without inspection.

Outlook

We maintain our Hold  recommendation on the stock with unchanged price target (PT) of  Rs. 600  (valuing the stock at 20x its FY2020E earnings). However, we feel the USFDA’s  response on Halol’s remediation process and its final outcome and clarity on the warning letter will weigh on the stock in the near term.For all recommendations report, click here

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