Sun Pharma Advanced Research Company Ltd.
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ABOUT
AI Sector View
AI GENERATEDHealthcare
This stance relies on proxies and positioning because no direct pharma-export or healthcare operating series exists in the dataset. The depreciated currency at 95.23 (Sep/26) can support export earnings, inflation at 4.45% (Jul/26) is manageable for a defensive sector, and consumer spending remains large at INR 44743 billion (Jun/26). Strong FPI inflow of INR 10620 crore over 3 months to 2026-08-31 from INR -11381 crore in the prior 3 months adds a real sector-specific tailwind, but confidence stays capped because the fundamental drivers are indirect proxies.
PROS
- Company has a good return on equity (ROE) track record: 3 Years ROE 52.4%
- Operating margins have improved to 85.0% from -85.1%
- Company has delivered good sales growth of 49.3% CAGR over last 5 years
- Company comfortably covers its interest (46.5x coverage)
- Company maintains a comfortable, low leverage position
CONS
- Operating cash flow has been negative in recent years
- Company has a low return on capital employed of -89.8%
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.26x)
- Free cash flow has been persistently negative
- Total debt has risen sharply - up 115.4% year on year
- Working capital days have increased from -1773 to 215 days
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| PFOCUS | 316.65 | 213.36 | 24659.87 | 0.00 | -457.78 | -514.43 | 12668.15 | 1196.88 | 2.74 | 23.76 |
| SAGILITY | 45.05 | 21.24 | 21089.38 | 0.33 | 216.81 | 45.94 | 1963.48 | 27.59 | 13.82 | 22.32 |
| HORIZONIND | 55.65 | 244.03 | 16043.35 | 0.00 | — | — | — | — | 3.32 | — |
| SYNGENE | 386.45 | 70.59 | 15599.79 | 0.32 | -9.00 | -110.38 | 736.00 | -15.84 | 9.48 | 12.34 |
| INDGN | 586.50 | 35.25 | 14132.70 | 0.38 | 116.20 | -0.17 | 1063.10 | 39.73 | 18.92 | 16.39 |
| IGIL | 311.35 | 22.07 | 13455.29 | 1.61 | 165.74 | 30.98 | 370.78 | 23.22 | 77.00 | 60.35 |
| NESCO | 1098.55 | 18.58 | 7740.38 | 0.64 | 99.96 | 3.97 | 211.80 | 9.55 | 19.23 | 48.33 |
| SPARC | 200.70 | 4.11 | 6513.15 | 0.00 | -20.78 | 59.94 | 39.92 | 314.11 | 163.94 | -85.17 |
| LEAPIND | 145.40 | 102.75 | 6405.40 | 0.00 | 247.33 | — | 2034.13 | — | 9.32 | 51.19 |
| SMARTWORKS | 547.00 | 224.47 | 6256.64 | 0.00 | 13.15 | 413.27 | 546.25 | 44.05 | 61.12 | 63.33 |
| JUSTDIAL | 675.30 | 15.82 | 5743.36 | 0.00 | 115.74 | 38.44 | 270.27 | 16.23 | 12.88 | 26.17 |
| LATENTVIEW | 260.25 | 27.58 | 5389.34 | 0.00 | 47.10 | -6.84 | 286.88 | 21.55 | 16.69 | 19.76 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24 | 21 | 14 | 17 | 17 | 13 | 15 | 27 | 10 | 8 | 8 | 13 | 40 | |
| 126 | 113 | 116 | 124 | 112 | 117 | 89 | 81 | 62 | 74 | 65 | 80 | 85 | |
| Operating Profit | -102 | -91 | -103 | -108 | -95 | -104 | -74 | -54 | -52 | -66 | -57 | -67 | -45 |
| OPM % | -426.64% | -431.87% | -740.40% | -649.28% | -565.85% | -807.54% | -498.86% | -198.31% | -542.84% | -838.30% | -673.02% | -508.18% | -111.82% |
| 10 | 8 | 6 | 4 | 2 | 0 | 0 | 0 | 9 | 0 | -12 | 2 | 24 | |
| Interest | 0 | 0 | 0 | 1 | 1 | 1 | 3 | 5 | 6 | 8 | 9 | 12 | 8 |
| Depreciation | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2 | 2 |
| Profit before Tax | -95 | -86 | -100 | -107 | -97 | -108 | -80 | -61 | -52 | -76 | -81 | 1,761 | -21 |
| Tax % | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | 0.00% | -0.00% |
| Net Profit | -95 | -86 | -100 | -107 | -97 | -108 | -80 | -61 | -52 | -76 | -81 | 1,761 | -21 |
| -2.94 | -2.66 | -3.07 | -3.29 | -2.98 | -3.32 | -2.46 | -1.88 | -1.60 | -2.34 | -2.48 | 54.26 | -0.65 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 181 | 78 | 183 | 77 | 253 | 137 | 239 | 76 | 72 | 1,879 | 69 | |
| 304 | 321 | 334 | 387 | 388 | 324 | 453 | 479 | 399 | 281 | 304 | |
| Operating Profit | -123 | -243 | -151 | -310 | -135 | -187 | -214 | -404 | -327 | 1,598 | -234 |
| OPM % | -67.78% | -310.01% | -82.73% | -403.58% | -53.36% | -136.07% | -89.65% | -534.50% | -456.03% | 85.03% | -337.72% |
| 14 | 54 | 14 | 10 | 5 | 7 | 11 | 29 | 2 | -2 | 13 | |
| Interest | 2 | 0 | 0 | 3 | 11 | 13 | 8 | 2 | 9 | 34 | 36 |
| Depreciation | 8 | 8 | 8 | 9 | 11 | 10 | 12 | 12 | 11 | 10 | 10 |
| Profit before Tax | -119 | -197 | -145 | -312 | -151 | -203 | -223 | -388 | -345 | 1,552 | 1,583 |
| Tax % | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | 0.00% | 0.00% |
| Net Profit | -119 | -197 | -145 | -312 | -151 | -203 | -223 | -388 | -345 | 1,552 | 1,583 |
| EPS | -4.84 | -7.94 | -5.69 | -11.92 | -5.77 | -7.73 | -7.82 | -11.96 | -10.64 | 47.83 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 28%
- 5 Years:
- 49%
- 3 Years:
- 99%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- -6%
- 5 Years:
- -8%
- 3 Years:
- -8%
- 1 Year:
- 37%
RETURN ON EQUITY
- 10 Years:
- -57%
- 5 Years:
- 3%
- 3 Years:
- 52%
- Last Year:
- 279%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 25 | 25 | 26 | 26 | 26 | 27 | 32 | 32 | 32 | 32 |
| 133 | 68 | 270 | -45 | -194 | -230 | 480 | 92 | -253 | 1,301 | |
| 3 | 2 | 1 | 106 | 273 | 144 | 130 | 159 | 327 | 621 | |
| Trade Payables | 94 | 102 | 83 | 159 | 91 | 72 | 148 | 150 | 124 | 106 |
| 21 | 116 | 18 | 27 | 33 | 267 | 39 | 53 | 99 | 107 | |
| Total Liabilities | 277 | 313 | 398 | 273 | 230 | 280 | 830 | 486 | 329 | 2,168 |
| 69 | 52 | 58 | 104 | 91 | 92 | 106 | 103 | 95 | 85 | |
| Capital Work in Progress | 1 | 3 | 24 | 4 | 5 | 4 | 2 | 1 | 1 | 0 |
| 10 | 108 | 211 | 8 | 6 | 12 | 291 | 2 | 0 | 0 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16 | 16 | 8 | |
| Cash & Bank | 70 | 1 | 1 | 0 | 9 | 1 | 112 | 155 | 1 | 0 |
| 126 | 149 | 106 | 156 | 118 | 172 | 320 | 210 | 216 | 2,073 | |
| Total Assets | 277 | 313 | 398 | 273 | 230 | 280 | 830 | 486 | 329 | 2,168 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -107 | -222 | -167 | -201 | -150 | -213 | -74 | -429 | -362 | -239 | |
| Cash from Investing | -7 | -105 | -102 | 155 | 2 | -29 | -548 | 391 | 158 | -24 |
| Cash from Financing | 194 | 224 | 274 | 55 | 159 | 229 | 617 | 43 | 201 | 262 |
| 60 | -63 | 0 | 0 | 9 | -8 | -1 | 4 | -4 | -1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-13 - Sun Pharma Advanced Research Company Limited has informed the Exchange about Filing of Application for Reclassification with Stock Exchanges
2026-08-11 - Sun Pharma Advanced Research Company Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-10 - Sun Pharma Advanced Research Company Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 10, 2026
2026-08-10 - Sun Pharma Advanced Research Company Limited has informed the Exchange about Monitoring Agency Report for the quarter ended June 30, 2026.
2026-08-10 - Sun Pharma Advanced Research Company Limited has informed the Exchange regarding Outcome of Board Meeting held on August 10, 2026.
2026-08-10 - Sun Pharma Advanced Research Company Limited has submitted to the Exchange, the Unaudited Financial Results for the quarter ended June 30, 2026.
2026-07-27 - Sun Pharma Advanced Research Company Limited has informed the Exchange about Receipt of requests for reclassification of shareholder category
2026-07-17 - Sun Pharma Advanced Research Company Limited has informed the Exchange about Copy of Newspaper Publication
2026-07-16 - Sun Pharma Advanced Research Company Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 10, 2026 along with the Annual Report for FY 2025-26
News
Recent coverage and analyst commentary for SPARC
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Sun Pharma Advanced Research Company Ltd.
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