India’s largest pharmaceutical company inches higher with strategic acquisitions

In the last five trading sessions, the stock has zoomed 5%.

Sun Pharma, India’s largest manufacturer of branded generics, has been trending on Dalal Street as it has rallied by over 1.4%. The share has been trading in the green territory today. The scrip opened at Rs 863.80 and made a day’s high of Rs 885.80. Today, the stock closed at Rs 867.85, up by 1.44% on the BSE.

The pharma giant’s US subsidiary- Taro Pharmaceutical Industries has acquired all the outstanding capital stock of Galedera thereby effectively acquiring all its subsidiaries across the US, Canada, and Japan. The above corporate action has cost the company about Rs 745 crore.

Talking about its recent quarterly results, in Q3FY22, revenue grew by 11.41% YoY to Rs 9814.17 crore from Rs 8808.83 crore in Q3FY21. On a sequential basis, the top-line was up by 2.69%. PBIDT (Ex OI) was reported at Rs 2606.33 crore, up by 11.64% as compared to the year-ago period and the corresponding margin was reported at 26.43%, expanding by 0.999999999999801 basis points YoY. PAT was reported at Rs 2130.8 crore, up by 11.09% from Rs 1918.11 crore in the same quarter for the previous fiscal year. The PAT margin stood at 21.6% in Q3FY22 contracting from 21.71% in Q3FY21.

Sun Pharmaceutical Industries Ltd. is the fifth largest speciality generic pharmaceutical company in the world. The company provides high-quality, affordable medicines trusted by healthcare professionals and patients in over 100 countries worldwide. The company has an established presence in Europe and key high-growth Emerging Markets (EM) like Russia, Romania, South Africa, Brazil and Malaysia.

The stock has a 52-week high of Rs 902.50 and a 52-week low of Rs 562.40.