Sanofi India Ltd.
•2026-08-21
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 49.3%
- Company has a good return on equity (ROE) track record: 3 Years ROE 38.1%
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.13x)
- Stock looks reasonably valued - P/E of 28.8 is below its historical median
- Company generates healthy free cash flow
CONS
- Stock is trading at 13.9x its book value
- Recurring exceptional / one-off items are inflating headline profit
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | SUNPHARMA | 1901.00 | 37.71 | 456113.58 | 0.84 | 2901.23 | 26.53 | 15299.88 | 10.98 | 19.11 | 28.81 |
| 2. | DIVISLAB | 8587.00 | 77.93 | 227957.87 | 0.35 | 902.00 | 65.50 | 3080.00 | 27.80 | 21.51 | 40.75 |
| 3. | TORNTPHARM | 4994.90 | 87.11 | 189989.94 | 0.76 | 566.00 | 3.28 | 4921.00 | 57.32 | 19.27 | 33.81 |
| 4. | CIPLA | 1437.65 | 34.46 | 116141.01 | 0.90 | 785.55 | -39.18 | 7119.28 | 4.13 | 16.00 | 16.73 |
| 5. | ZYDUSLIFE | 1108.80 | 24.51 | 110603.22 | 0.09 | 990.20 | -34.90 | 8017.00 | 23.97 | 21.39 | 24.54 |
| 6. | LUPIN | 2203.10 | 18.22 | 100733.42 | 0.82 | 1416.98 | 16.01 | 8276.89 | 34.28 | 28.86 | 29.59 |
| 7. | DRREDDY | 1181.35 | 30.60 | 98604.43 | 0.68 | 435.60 | -69.10 | 8099.80 | -5.21 | 13.75 | 10.63 |
| 8. | MANKIND | 2385.00 | 48.22 | 98499.54 | 0.04 | 574.09 | 29.12 | 4030.59 | 12.89 | 13.24 | 26.30 |
| 9. | LAURUSLABS | 1823.00 | 90.09 | 98498.92 | 0.11 | 362.07 | 123.94 | 2026.31 | 29.10 | 18.20 | 31.50 |
| 10. | AUROPHARMA | 1606.40 | 24.90 | 92428.71 | 0.25 | 10320.30 | 1152.16 | 91503.50 | 1062.96 | 12.76 | 20.54 |
| 11. | BIOCON | 412.10 | 135.59 | 67159.70 | 0.12 | 136.80 | 53.36 | 4336.00 | 10.89 | 3.26 | 19.54 |
| 12. | SANOFI | 3321.85 | 18.51 | 7650.43 | 3.70 | 91.30 | -93.37 | 514.90 | 9.74 | 55.46 | 26.08 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 515 | 491 | 469 | 511 | 464 | 524 | 515 | 536 | 406 | 475 | 420 | 472 | 438 | |
| 393 | 377 | 370 | 374 | 348 | 404 | 397 | 364 | 311 | 341 | 330 | 330 | 332 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 16 | 11 | 9 | 4 | 5 | 2 | 6 | 3 | 9 | 5 | 3 | 4 | 6 |
| Interest | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Depreciation | 9 | 9 | 9 | 9 | 9 | 9 | 10 | 10 | 9 | 9 | 10 | 9 | 9 |
| 127 | 115 | 99 | 104 | 92 | 113 | 122 | 165 | 94 | 102 | 83 | 138 | 112 | |
| Tax % | 36.37% | 29.67% | 29.81% | 31.10% | 25.95% | 27.00% | 25.29% | 27.71% | 26.14% | 25.71% | 25.66% | 25.60% | 25.65% |
| Net Profit | 81 | 81 | 70 | 72 | 68 | 82 | 91 | 120 | 70 | 76 | 62 | 103 | 84 |
| 53 | 66 | 30 | 31 | 30 | 36 | 40 | 52 | 30 | 33 | 27 | 45 | 4 | |
| Equity Capital | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 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% |
| Equity Capital | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 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% |
- 515
- 393
- Operating Profit
- —
- OPM %
- —
- Other Income
- 16
- Interest
- 1
- Depreciation
- 9
- 127
- Tax %
- 36.37%
- Net Profit
- 81
- 53
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 491
- 377
- Operating Profit
- —
- OPM %
- —
- Other Income
- 11
- Interest
- 0
- Depreciation
- 9
- 115
- Tax %
- 29.67%
- Net Profit
- 81
- 66
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 469
- 370
- Operating Profit
- —
- OPM %
- —
- Other Income
- 9
- Interest
- 0
- Depreciation
- 9
- 99
- Tax %
- 29.81%
- Net Profit
- 70
- 30
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 511
- 374
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 0
- Depreciation
- 9
- 104
- Tax %
- 31.10%
- Net Profit
- 72
- 31
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 464
- 348
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 0
- Depreciation
- 9
- 92
- Tax %
- 25.95%
- Net Profit
- 68
- 30
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 524
- 404
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 0
- Depreciation
- 9
- 113
- Tax %
- 27.00%
- Net Profit
- 82
- 36
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 515
- 397
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 0
- Depreciation
- 10
- 122
- Tax %
- 25.29%
- Net Profit
- 91
- 40
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 536
- 364
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 0
- Depreciation
- 10
- 165
- Tax %
- 27.71%
- Net Profit
- 120
- 52
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 406
- 311
- Operating Profit
- —
- OPM %
- —
- Other Income
- 9
- Interest
- 0
- Depreciation
- 9
- 94
- Tax %
- 26.14%
- Net Profit
- 70
- 30
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 475
- 341
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 0
- Depreciation
- 9
- 102
- Tax %
- 25.71%
- Net Profit
- 76
- 33
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 420
- 330
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 1
- Depreciation
- 10
- 83
- Tax %
- 25.66%
- Net Profit
- 62
- 27
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 472
- 330
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 0
- Depreciation
- 9
- 138
- Tax %
- 25.60%
- Net Profit
- 103
- 45
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 438
- 332
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 0
- Depreciation
- 9
- 112
- Tax %
- 25.65%
- Net Profit
- 84
- 4
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 23
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2023 | Dec 2024 | Dec 2025 | TTM | |
|---|---|---|---|---|
| 1,996 | 2,013 | 1,837 | 1,805 | |
| 1,509 | 1,523 | 1,346 | 1,332 | |
| Operating Profit | 549 | 507 | 511 | — |
| OPM % | 27 | 25 | 28 | — |
| Other Income | 62 | 17 | 20 | 18 |
| Interest | 2 | 2 | 2 | 2 |
| Depreciation | 36 | 37 | 37 | 36 |
| 528 | 431 | 445 | 436 | |
| Tax % | 31 | 27 | 27 | 26 |
| Net Profit | 365 | 314 | 327 | 324 |
| EPS | 159 | 136 | 142 | — |
| Dividend Payout % | 105 | 86 | 87 | — |
| Minority Interest | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 |
| Adjusted EPS | 159 | 136 | 142 | — |
| Minority Interest | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 |
| Adjusted EPS | 159 | 136 | 142 | — |
- 1,996
- 1,509
- Operating Profit
- 549
- OPM %
- 27
- Other Income
- 62
- Interest
- 2
- Depreciation
- 36
- 528
- Tax %
- 31
- Net Profit
- 365
- EPS
- 159
- Dividend Payout %
- 105
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 159
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 159
- 2,013
- 1,523
- Operating Profit
- 507
- OPM %
- 25
- Other Income
- 17
- Interest
- 2
- Depreciation
- 37
- 431
- Tax %
- 27
- Net Profit
- 314
- EPS
- 136
- Dividend Payout %
- 86
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 136
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 136
- 1,837
- 1,346
- Operating Profit
- 511
- OPM %
- 28
- Other Income
- 20
- Interest
- 2
- Depreciation
- 37
- 445
- Tax %
- 27
- Net Profit
- 327
- EPS
- 142
- Dividend Payout %
- 87
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 142
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 142
- 1,805
- 1,332
- Operating Profit
- —
- OPM %
- —
- Other Income
- 18
- Interest
- 2
- Depreciation
- 36
- 436
- Tax %
- 26
- Net Profit
- 324
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- -3%
- 5 Years:
- -17%
- 3 Years:
- -22%
- 1 Year:
- -36%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 38%
- Last Year:
- 44%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|
| LIABILITIES | - | - | - |
| Equity Capital | 23 | 23 | 23 |
| 924 | 768 | 654 | |
| Trade Payables | 292 | 406 | 194 |
| 3,464 | 3,482 | 3,552 | |
| Total Liabilities | 4,703 | 4,679 | 4,423 |
| ASSETS | - | - | - |
| 315 | 312 | 304 | |
| Capital Work in Progress | 13 | 18 | 12 |
| 2 | 0 | 0 | |
| 664 | 500 | 312 | |
| 132 | 230 | 177 | |
| Cash & Bank | 405 | 295 | 275 |
| 3,173 | 3,324 | 3,344 | |
| Total Assets | 4,703 | 4,679 | 4,423 |
| Total Debt | 0 | 0 | 0 |
| Net Working Capital | 595 | 390 | 309 |
| Contingent Liabilities | 291 | 291 | 319 |
| Book Value per Share | 411.83 | 343.96 | 294.48 |
| Face Value | 10.00 | 10.00 | 10.00 |
| Total Debt | 0 | 0 | 0 |
| Net Working Capital | 595 | 390 | 309 |
| Contingent Liabilities | 291 | 291 | 319 |
| Book Value per Share | 411.83 | 343.96 | 294.48 |
| Face Value | 10.00 | 10.00 | 10.00 |
- Equity Capital
- 23
- 924
- Trade Payables
- 292
- 3,464
- Total Liabilities
- 4,703
- 315
- Capital Work in Progress
- 13
- 2
- 664
- 132
- Cash & Bank
- 405
- 3,173
- Total Assets
- 4,703
- Total Debt
- 0
- Net Working Capital
- 595
- Contingent Liabilities
- 291
- Book Value per Share
- 411.83
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 595
- Contingent Liabilities
- 291
- Book Value per Share
- 411.83
- Face Value
- 10.00
- Equity Capital
- 23
- 768
- Trade Payables
- 406
- 3,482
- Total Liabilities
- 4,679
- 312
- Capital Work in Progress
- 18
- 0
- 500
- 230
- Cash & Bank
- 295
- 3,324
- Total Assets
- 4,679
- Total Debt
- 0
- Net Working Capital
- 390
- Contingent Liabilities
- 291
- Book Value per Share
- 343.96
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 390
- Contingent Liabilities
- 291
- Book Value per Share
- 343.96
- Face Value
- 10.00
- Equity Capital
- 23
- 654
- Trade Payables
- 194
- 3,552
- Total Liabilities
- 4,423
- 304
- Capital Work in Progress
- 12
- 0
- 312
- 177
- Cash & Bank
- 275
- 3,344
- Total Assets
- 4,423
- Total Debt
- 0
- Net Working Capital
- 309
- Contingent Liabilities
- 319
- Book Value per Share
- 294.48
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 309
- Contingent Liabilities
- 319
- Book Value per Share
- 294.48
- Face Value
- 10.00
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|
| 231 | 462 | 438 | |
| Cash from Investing | 36 | -19 | -11 |
| Cash from Financing | -878 | -392 | -448 |
| -612 | 50 | -21 | |
| Free Cash Flow | 231 | 433 | 423 |
| OCF / Net Profit | 0.63 | 1.47 | 1.34 |
| Cumulative 5-Year FCF | 0 | 0 | 0 |
| OCF / Net Profit | 0.63 | 1.47 | 1.34 |
| Cumulative 5-Year FCF | 0 | 0 | 0 |
- 231
- Cash from Investing
- 36
- Cash from Financing
- -878
- -612
- Free Cash Flow
- 231
- OCF / Net Profit
- 0.63
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.63
- Cumulative 5-Year FCF
- 0
- 462
- Cash from Investing
- -19
- Cash from Financing
- -392
- 50
- Free Cash Flow
- 433
- OCF / Net Profit
- 1.47
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.47
- Cumulative 5-Year FCF
- 0
- 438
- Cash from Investing
- -11
- Cash from Financing
- -448
- -21
- Free Cash Flow
- 423
- OCF / Net Profit
- 1.34
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.34
- Cumulative 5-Year FCF
- 0
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|
| PER SHARE | - | - | - |
| EPS (₹) | 158.52 | 136.39 | 142.04 |
| Book Value (₹) | 411.83 | 343.96 | 294.48 |
| Dividend per Share (₹) | 167.00 | 117.00 | 123.00 |
| Cash EPS (₹) | 174.39 | 152.35 | 158.26 |
| PROFITABILITY | - | - | - |
| Operating Margin % | 23.50% | 22.14% | 23.63% |
| Net Margin % | 17.59% | 14.17% | 15.71% |
| ROE % | 33.75% | 36.09% | 44.50% |
| ROCE % | 46.28% | 46.15% | 55.46% |
| 7.65% | 6.69% | 7.18% | |
| EFFICIENCY | - | - | - |
| Debtor Days | 23 | 30 | 36 |
| Inventory Days | 94 | 96 | 71 |
| Payable Days | 124 | 130 | 122 |
| -7 | -4 | -15 | |
| FINANCIAL HEALTH | - | - | - |
| Debt to Equity (x) | 0.00x | 0.00x | 0.00x |
| Interest Coverage (x) | 311.88x | 288.60x | 262.59x |
| 1.23x | 1.15x | 1.12x | |
| GROWTH | - | - | - |
| Revenue Growth % | -27.94% | 0.86% | -8.73% |
| Operating Profit Growth % | -29.26% | -7.58% | 0.73% |
| Net Profit Growth % | -41.25% | -13.96% | 4.14% |
| -41.25% | -13.96% | 4.14% | |
| VALUATION | - | - | - |
| P/E (x) | 50.89x | 44.88x | 28.81x |
| P/B (x) | 19.59x | 17.80x | 13.89x |
| Dividend Yield % | 2.07% | 1.91% | 3.01% |
| 33.07x | 27.17x | 17.88x |
- EPS (₹)
- 158.52
- Book Value (₹)
- 411.83
- Dividend per Share (₹)
- 167.00
- Cash EPS (₹)
- 174.39
- Operating Margin %
- 23.50%
- Net Margin %
- 17.59%
- ROE %
- 33.75%
- ROCE %
- 46.28%
- 7.65%
- Debtor Days
- 23
- Inventory Days
- 94
- Payable Days
- 124
- -7
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 311.88x
- 1.23x
- Revenue Growth %
- -27.94%
- Operating Profit Growth %
- -29.26%
- Net Profit Growth %
- -41.25%
- -41.25%
- P/E (x)
- 50.89x
- P/B (x)
- 19.59x
- Dividend Yield %
- 2.07%
- 33.07x
- EPS (₹)
- 136.39
- Book Value (₹)
- 343.96
- Dividend per Share (₹)
- 117.00
- Cash EPS (₹)
- 152.35
- Operating Margin %
- 22.14%
- Net Margin %
- 14.17%
- ROE %
- 36.09%
- ROCE %
- 46.15%
- 6.69%
- Debtor Days
- 30
- Inventory Days
- 96
- Payable Days
- 130
- -4
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 288.60x
- 1.15x
- Revenue Growth %
- 0.86%
- Operating Profit Growth %
- -7.58%
- Net Profit Growth %
- -13.96%
- -13.96%
- P/E (x)
- 44.88x
- P/B (x)
- 17.80x
- Dividend Yield %
- 1.91%
- 27.17x
- EPS (₹)
- 142.04
- Book Value (₹)
- 294.48
- Dividend per Share (₹)
- 123.00
- Cash EPS (₹)
- 158.26
- Operating Margin %
- 23.63%
- Net Margin %
- 15.71%
- ROE %
- 44.50%
- ROCE %
- 55.46%
- 7.18%
- Debtor Days
- 36
- Inventory Days
- 71
- Payable Days
- 122
- -15
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 262.59x
- 1.12x
- Revenue Growth %
- -8.73%
- Operating Profit Growth %
- 0.73%
- Net Profit Growth %
- 4.14%
- 4.14%
- P/E (x)
- 28.81x
- P/B (x)
- 13.89x
- Dividend Yield %
- 3.01%
- 17.88x
Documents
Announcements
- General Updates
2026-08-13 - Please find enclosed intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- General Updates
2026-08-11 - Please find enclosed intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Aug 2026
Mar 2026
Feb 2026

