Baldota, who has also been nominated to Taro's board of directors, is expected to begin his role as CEO on or about April 1, 2017, and will focus solely on the Taro business.
Sun Pharma CFO Uday Baldota said given the complexity of the merger, it is difficult to give guidance for FY16, adding that the company is undertaking remediation plans for all Ranbaxy facilities.
The pharma major is hopeful of maintaining its revenue growth guidance of 13-15 percent for FY15 though the margins may get impacted marginally.
Sun also sought to take full control of its US-listed Israeli unit Taro Pharmaceutical Industries Ltd , but the deal was terminated last year after a long-drawn battle.
Uday Baldota, Senior Vice President-Finance & Accounts, Sun Pharma cautioned that the jump in operating margin to 44 percent seen during the quarter may not be sustained.
Uday Baldota, Senior Vice President-Finance & Accounts, Sun Pharma said the company will continue to hold stake in Taro despite their termination of the merger agreement.
In an exclusive interview with CNBC-TV18, Uday Baldota of Sun Pharma says the company saw significant growth in Sun Pharma’s standalone numbers, while as well "Taro reported strong margins this quarter." The leading drugmaker discloses that the company is "bearing additional costs for some non-revenue generating businesses."
Sun Pharmaceutical is eyeing revenue growth of 28-30% in FY12, said Uday Baldota of Sun Pharma. In an interview to CNBC-TV18, Baldota said that Taro Pharmaceutical Industries reported strong margins this quarter.