Sun Pharmaceutical Industries Ltd.
•2026-08-21
PROS
- Company has delivered good profit growth of 25.5% CAGR over last 5 years
- Latest quarter profit grew 48.0% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.08x)
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
CONS
- Recent results are weak - TTM profit is down 47.4% versus prior year
- A large part of profit comes from other income (47.8% of PBT)
- Working capital days have increased from 9 to 179 days
- Stock is trading at 18.8x its book value
- Operating margins have contracted to 23.1% from 32.4%
- 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 | 1898.00 | 37.65 | 455393.78 | 0.84 | 2901.23 | 26.53 | 15299.88 | 10.98 | 19.11 | 28.81 |
| 2. | DIVISLAB | 8525.00 | 77.37 | 226311.96 | 0.35 | 902.00 | 65.50 | 3080.00 | 27.80 | 21.51 | 40.75 |
| 3. | TORNTPHARM | 5013.00 | 87.43 | 190678.41 | 0.76 | 566.00 | 3.28 | 4921.00 | 57.32 | 19.27 | 33.81 |
| 4. | CIPLA | 1416.00 | 33.94 | 114392.01 | 0.92 | 785.55 | -39.18 | 7119.28 | 4.13 | 16.00 | 16.73 |
| 5. | ZYDUSLIFE | 1105.00 | 24.42 | 110224.17 | 0.09 | 990.20 | -34.90 | 8017.00 | 23.97 | 21.39 | 24.54 |
| 6. | LUPIN | 2220.00 | 18.36 | 101506.15 | 0.81 | 1416.98 | 16.01 | 8276.89 | 34.28 | 28.86 | 29.59 |
| 7. | MANKIND | 2391.00 | 48.34 | 98747.34 | 0.04 | 574.09 | 29.12 | 4030.59 | 12.89 | 13.24 | 26.30 |
| 8. | DRREDDY | 1171.00 | 30.33 | 97740.54 | 0.68 | 435.60 | -69.10 | 8099.80 | -5.21 | 13.75 | 10.63 |
| 9. | LAURUSLABS | 1807.00 | 89.30 | 97634.42 | 0.11 | 3620.70 | 2139.42 | 20263.10 | 1191.00 | 18.20 | 31.50 |
| 10. | AUROPHARMA | 1615.15 | 25.03 | 92932.16 | 0.25 | 1032.03 | 25.22 | 9150.35 | 17.44 | 12.76 | 20.54 |
| 11. | BIOCON | 414.30 | 136.32 | 67518.23 | 0.12 | 136.80 | 53.36 | 4336.00 | 10.89 | 3.26 | 19.54 |
| 12. | ALKEM | 5380.50 | 29.82 | 64331.95 | 0.98 | 520.98 | -22.00 | 3740.15 | 10.95 | 21.28 | 20.47 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4,383 | 5,020 | 4,904 | 5,537 | 4,410 | 5,118 | 5,974 | 7,101 | 5,567 | 4,511 | 5,651 | 4,887 | 5,741 | |
| 3,517 | 3,719 | 3,866 | 3,746 | 3,737 | 3,919 | 4,476 | 4,120 | 3,900 | 3,846 | 4,092 | 3,595 | 4,363 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 164 | 116 | 228 | 119 | 83 | 224 | 69 | 132 | 293 | 554 | 343 | 63 | 140 |
| Interest | 158 | 194 | 215 | 218 | 216 | 259 | 231 | 232 | 223 | 248 | 244 | 217 | 278 |
| Depreciation | 415 | 393 | 400 | 393 | 370 | 297 | 303 | 305 | 299 | 336 | 339 | 326 | 308 |
| 390 | 907 | 751 | 1,402 | 258 | 871 | 1,240 | 2,654 | 1,185 | 672 | 1,097 | 849 | 1,486 | |
| Tax % | 2.37% | 1.97% | 4.01% | 38.11% | 7.79% | 3.73% | 6.76% | 23.05% | 36.40% | 16.01% | 35.70% | 28.30% | 24.98% |
| Net Profit | 381 | 889 | 721 | 868 | 238 | 838 | 1,156 | 2,042 | 754 | 564 | 705 | 609 | 1,115 |
| 2 | 4 | 3 | 4 | 1 | 4 | 5 | 8 | 3 | 2 | 3 | 2 | 0 | |
| Equity Capital | 240 | 240 | 240 | 240 | 240 | 240 | 240 | 240 | 240 | 240 | 240 | 240 | 240 |
| 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 | 240 | 240 | 240 | 240 | 240 | 240 | 240 | 240 | 240 | 240 | 240 | 240 | 240 |
| 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% |
- 4,383
- 3,517
- Operating Profit
- —
- OPM %
- —
- Other Income
- 164
- Interest
- 158
- Depreciation
- 415
- 390
- Tax %
- 2.37%
- Net Profit
- 381
- 2
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 5,020
- 3,719
- Operating Profit
- —
- OPM %
- —
- Other Income
- 116
- Interest
- 194
- Depreciation
- 393
- 907
- Tax %
- 1.97%
- Net Profit
- 889
- 4
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,904
- 3,866
- Operating Profit
- —
- OPM %
- —
- Other Income
- 228
- Interest
- 215
- Depreciation
- 400
- 751
- Tax %
- 4.01%
- Net Profit
- 721
- 3
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 5,537
- 3,746
- Operating Profit
- —
- OPM %
- —
- Other Income
- 119
- Interest
- 218
- Depreciation
- 393
- 1,402
- Tax %
- 38.11%
- Net Profit
- 868
- 4
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,410
- 3,737
- Operating Profit
- —
- OPM %
- —
- Other Income
- 83
- Interest
- 216
- Depreciation
- 370
- 258
- Tax %
- 7.79%
- Net Profit
- 238
- 1
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 5,118
- 3,919
- Operating Profit
- —
- OPM %
- —
- Other Income
- 224
- Interest
- 259
- Depreciation
- 297
- 871
- Tax %
- 3.73%
- Net Profit
- 838
- 4
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 5,974
- 4,476
- Operating Profit
- —
- OPM %
- —
- Other Income
- 69
- Interest
- 231
- Depreciation
- 303
- 1,240
- Tax %
- 6.76%
- Net Profit
- 1,156
- 5
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 7,101
- 4,120
- Operating Profit
- —
- OPM %
- —
- Other Income
- 132
- Interest
- 232
- Depreciation
- 305
- 2,654
- Tax %
- 23.05%
- Net Profit
- 2,042
- 8
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 5,567
- 3,900
- Operating Profit
- —
- OPM %
- —
- Other Income
- 293
- Interest
- 223
- Depreciation
- 299
- 1,185
- Tax %
- 36.40%
- Net Profit
- 754
- 3
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,511
- 3,846
- Operating Profit
- —
- OPM %
- —
- Other Income
- 554
- Interest
- 248
- Depreciation
- 336
- 672
- Tax %
- 16.01%
- Net Profit
- 564
- 2
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 5,651
- 4,092
- Operating Profit
- —
- OPM %
- —
- Other Income
- 343
- Interest
- 244
- Depreciation
- 339
- 1,097
- Tax %
- 35.70%
- Net Profit
- 705
- 3
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,887
- 3,595
- Operating Profit
- —
- OPM %
- —
- Other Income
- 63
- Interest
- 217
- Depreciation
- 326
- 849
- Tax %
- 28.30%
- Net Profit
- 609
- 2
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 5,741
- 4,363
- Operating Profit
- —
- OPM %
- —
- Other Income
- 140
- Interest
- 278
- Depreciation
- 308
- 1,486
- Tax %
- 24.98%
- Net Profit
- 1,115
- 0
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 240
- Reserves
- 0
- Promoter Pledge %
- 0.00%
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 7,684 | 8,982 | 10,303 | 12,532 | 14,116 | 15,586 | 20,812 | 20,275 | 22,977 | 20,755 | 20,791 | |
| 7,745 | 8,128 | 8,562 | 9,820 | 11,859 | 12,917 | 14,390 | 14,775 | 16,395 | 15,968 | 15,897 | |
| Operating Profit | 629 | 2,106 | 3,028 | 4,223 | 2,449 | 3,865 | 6,752 | 6,053 | 7,217 | 6,600 | — |
| OPM % | 8 | 23 | 29 | 34 | 17 | 25 | 32 | 30 | 31 | 32 | — |
| Other Income | 690 | 1,252 | 1,286 | 1,511 | 192 | 1,197 | 329 | 553 | 634 | 1,813 | 1,100 |
| Interest | 224 | 388 | 541 | 408 | 268 | 388 | 472 | 784 | 954 | 948 | 988 |
| Depreciation | 422 | 487 | 553 | 562 | 1,236 | 1,350 | 1,601 | 1,601 | 1,287 | 1,312 | 1,309 |
| -17 | 280 | 719 | 3,253 | 856 | 307 | 1,741 | 3,450 | 4,976 | 3,794 | 4,104 | |
| Tax % | -36 | -9 | -14 | 1 | 2 | 133 | 3 | 17 | 15 | 31 | 27 |
| Net Profit | -23 | 306 | 817 | 3,211 | 842 | -100 | 1,691 | 2,858 | 4,228 | 2,623 | 2,994 |
| EPS | -0 | 1 | 3 | 13 | 4 | -0 | 7 | 12 | 18 | 11 | — |
| Dividend Payout % | -3,676 | 157 | 81 | 30 | 214 | -2,400 | 163 | 113 | 91 | 146 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | -0 | 1 | 3 | 13 | 4 | -0 | 7 | 12 | 18 | 11 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | -0 | 1 | 3 | 13 | 4 | -0 | 7 | 12 | 18 | 11 | — |
- 7,684
- 7,745
- Operating Profit
- 629
- OPM %
- 8
- Other Income
- 690
- Interest
- 224
- Depreciation
- 422
- -17
- Tax %
- -36
- Net Profit
- -23
- EPS
- -0
- Dividend Payout %
- -3,676
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -0
- 8,982
- 8,128
- Operating Profit
- 2,106
- OPM %
- 23
- Other Income
- 1,252
- Interest
- 388
- Depreciation
- 487
- 280
- Tax %
- -9
- Net Profit
- 306
- EPS
- 1
- Dividend Payout %
- 157
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- 10,303
- 8,562
- Operating Profit
- 3,028
- OPM %
- 29
- Other Income
- 1,286
- Interest
- 541
- Depreciation
- 553
- 719
- Tax %
- -14
- Net Profit
- 817
- EPS
- 3
- Dividend Payout %
- 81
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- 12,532
- 9,820
- Operating Profit
- 4,223
- OPM %
- 34
- Other Income
- 1,511
- Interest
- 408
- Depreciation
- 562
- 3,253
- Tax %
- 1
- Net Profit
- 3,211
- EPS
- 13
- Dividend Payout %
- 30
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 13
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 13
- 14,116
- 11,859
- Operating Profit
- 2,449
- OPM %
- 17
- Other Income
- 192
- Interest
- 268
- Depreciation
- 1,236
- 856
- Tax %
- 2
- Net Profit
- 842
- EPS
- 4
- Dividend Payout %
- 214
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 4
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 4
- 15,586
- 12,917
- Operating Profit
- 3,865
- OPM %
- 25
- Other Income
- 1,197
- Interest
- 388
- Depreciation
- 1,350
- 307
- Tax %
- 133
- Net Profit
- -100
- EPS
- -0
- Dividend Payout %
- -2,400
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -0
- 20,812
- 14,390
- Operating Profit
- 6,752
- OPM %
- 32
- Other Income
- 329
- Interest
- 472
- Depreciation
- 1,601
- 1,741
- Tax %
- 3
- Net Profit
- 1,691
- EPS
- 7
- Dividend Payout %
- 163
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
- 20,275
- 14,775
- Operating Profit
- 6,053
- OPM %
- 30
- Other Income
- 553
- Interest
- 784
- Depreciation
- 1,601
- 3,450
- Tax %
- 17
- Net Profit
- 2,858
- EPS
- 12
- Dividend Payout %
- 113
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 12
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 12
- 22,977
- 16,395
- Operating Profit
- 7,217
- OPM %
- 31
- Other Income
- 634
- Interest
- 954
- Depreciation
- 1,287
- 4,976
- Tax %
- 15
- Net Profit
- 4,228
- EPS
- 18
- Dividend Payout %
- 91
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 18
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 18
- 20,755
- 15,968
- Operating Profit
- 6,600
- OPM %
- 32
- Other Income
- 1,813
- Interest
- 948
- Depreciation
- 1,312
- 3,794
- Tax %
- 31
- Net Profit
- 2,623
- EPS
- 11
- Dividend Payout %
- 146
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 11
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 11
- 20,791
- 15,897
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1,100
- Interest
- 988
- Depreciation
- 1,309
- 4,104
- Tax %
- 27
- Net Profit
- 2,994
- 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:
- 10%
- 5 Years:
- 8%
- 3 Years:
- 0%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 26%
- 3 Years:
- 16%
STOCK PRICE CAGR
- 10 Years:
- 9%
- 5 Years:
- 20%
- 3 Years:
- 19%
- 1 Year:
- 17%
RETURN ON EQUITY
- 10 Years:
- 7%
- 5 Years:
- 10%
- 3 Years:
- 14%
- Last Year:
- 11%
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 240 | 240 | 240 | 240 | 240 | 240 | 240 | 240 | 240 | 240 |
| 20,770 | 22,083 | 22,604 | 24,156 | 26,699 | 24,348 | 23,508 | 23,454 | 23,660 | 22,131 | |
| 4,054 | 5,214 | 4,428 | 4,488 | 1,652 | 3 | 6 | 11 | 10,954 | 0 | |
| Trade Payables | 2,073 | 2,566 | 2,155 | 2,129 | 4,029 | 2,710 | 3,126 | 2,620 | 3,470 | 3,533 |
| 7,073 | 7,027 | 8,625 | 7,733 | 11,499 | 13,756 | 14,444 | 15,661 | 7,002 | 20,105 | |
| Total Liabilities | 34,210 | 37,130 | 38,052 | 38,747 | 44,118 | 41,058 | 41,324 | 41,985 | 45,327 | 46,010 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 4,039 | 4,645 | 4,978 | 5,229 | 9,669 | 9,713 | 8,712 | 7,737 | 7,372 | 7,613 | |
| Capital Work in Progress | 1,055 | 830 | 456 | 384 | 459 | 359 | 329 | 388 | 708 | 652 |
| 19,333 | 18,355 | 17,904 | 17,362 | 15,537 | 15,549 | 12,613 | 12,430 | 12,410 | 12,952 | |
| 2,308 | 2,136 | 2,793 | 2,634 | 3,423 | 3,404 | 3,989 | 3,424 | 3,934 | 4,302 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8,834 | 11,702 | 10,166 | |
| Cash & Bank | 170 | 155 | 341 | 655 | 361 | 535 | 421 | 338 | 911 | 437 |
| 7,304 | 11,009 | 11,580 | 12,484 | 14,668 | 11,498 | 15,260 | 8,834 | 8,289 | 9,887 | |
| Total Assets | 34,210 | 37,130 | 38,052 | 38,747 | 44,118 | 41,058 | 41,324 | 41,985 | 45,327 | 46,010 |
| Total Debt | 6,047 | 6,884 | 6,437 | 6,406 | 7,136 | 4,869 | 7,593 | 11,047 | 11,764 | 13,420 |
| Net Working Capital | -4,574 | -2,983 | -2,102 | 737 | 2,779 | -402 | 8,078 | 10,468 | 578 | 10,175 |
| Contingent Liabilities | 5,406 | 5,603 | 3,902 | 3,386 | 3,032 | 999 | 938 | 889 | 1,942 | 1,291 |
| Book Value per Share | 87.57 | 93.04 | 95.21 | 101.68 | 112.28 | 102.48 | 98.98 | 98.76 | 99.61 | 93.24 |
| Face Value | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Total Debt | 6,047 | 6,884 | 6,437 | 6,406 | 7,136 | 4,869 | 7,593 | 11,047 | 11,764 | 13,420 |
| Net Working Capital | -4,574 | -2,983 | -2,102 | 737 | 2,779 | -402 | 8,078 | 10,468 | 578 | 10,175 |
| Contingent Liabilities | 5,406 | 5,603 | 3,902 | 3,386 | 3,032 | 999 | 938 | 889 | 1,942 | 1,291 |
| Book Value per Share | 87.57 | 93.04 | 95.21 | 101.68 | 112.28 | 102.48 | 98.98 | 98.76 | 99.61 | 93.24 |
| Face Value | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
- Equity Capital
- 240
- 20,770
- 4,054
- Trade Payables
- 2,073
- 7,073
- Total Liabilities
- 34,210
- 4,039
- Capital Work in Progress
- 1,055
- 19,333
- 2,308
- 0
- Cash & Bank
- 170
- 7,304
- Total Assets
- 34,210
- Total Debt
- 6,047
- Net Working Capital
- -4,574
- Contingent Liabilities
- 5,406
- Book Value per Share
- 87.57
- Face Value
- 1.00
- Total Debt
- 6,047
- Net Working Capital
- -4,574
- Contingent Liabilities
- 5,406
- Book Value per Share
- 87.57
- Face Value
- 1.00
- Equity Capital
- 240
- 22,083
- 5,214
- Trade Payables
- 2,566
- 7,027
- Total Liabilities
- 37,130
- 4,645
- Capital Work in Progress
- 830
- 18,355
- 2,136
- 0
- Cash & Bank
- 155
- 11,009
- Total Assets
- 37,130
- Total Debt
- 6,884
- Net Working Capital
- -2,983
- Contingent Liabilities
- 5,603
- Book Value per Share
- 93.04
- Face Value
- 1.00
- Total Debt
- 6,884
- Net Working Capital
- -2,983
- Contingent Liabilities
- 5,603
- Book Value per Share
- 93.04
- Face Value
- 1.00
- Equity Capital
- 240
- 22,604
- 4,428
- Trade Payables
- 2,155
- 8,625
- Total Liabilities
- 38,052
- 4,978
- Capital Work in Progress
- 456
- 17,904
- 2,793
- 0
- Cash & Bank
- 341
- 11,580
- Total Assets
- 38,052
- Total Debt
- 6,437
- Net Working Capital
- -2,102
- Contingent Liabilities
- 3,902
- Book Value per Share
- 95.21
- Face Value
- 1.00
- Total Debt
- 6,437
- Net Working Capital
- -2,102
- Contingent Liabilities
- 3,902
- Book Value per Share
- 95.21
- Face Value
- 1.00
- Equity Capital
- 240
- 24,156
- 4,488
- Trade Payables
- 2,129
- 7,733
- Total Liabilities
- 38,747
- 5,229
- Capital Work in Progress
- 384
- 17,362
- 2,634
- 0
- Cash & Bank
- 655
- 12,484
- Total Assets
- 38,747
- Total Debt
- 6,406
- Net Working Capital
- 737
- Contingent Liabilities
- 3,386
- Book Value per Share
- 101.68
- Face Value
- 1.00
- Total Debt
- 6,406
- Net Working Capital
- 737
- Contingent Liabilities
- 3,386
- Book Value per Share
- 101.68
- Face Value
- 1.00
- Equity Capital
- 240
- 26,699
- 1,652
- Trade Payables
- 4,029
- 11,499
- Total Liabilities
- 44,118
- 9,669
- Capital Work in Progress
- 459
- 15,537
- 3,423
- 0
- Cash & Bank
- 361
- 14,668
- Total Assets
- 44,118
- Total Debt
- 7,136
- Net Working Capital
- 2,779
- Contingent Liabilities
- 3,032
- Book Value per Share
- 112.28
- Face Value
- 1.00
- Total Debt
- 7,136
- Net Working Capital
- 2,779
- Contingent Liabilities
- 3,032
- Book Value per Share
- 112.28
- Face Value
- 1.00
- Equity Capital
- 240
- 24,348
- 3
- Trade Payables
- 2,710
- 13,756
- Total Liabilities
- 41,058
- 9,713
- Capital Work in Progress
- 359
- 15,549
- 3,404
- 0
- Cash & Bank
- 535
- 11,498
- Total Assets
- 41,058
- Total Debt
- 4,869
- Net Working Capital
- -402
- Contingent Liabilities
- 999
- Book Value per Share
- 102.48
- Face Value
- 1.00
- Total Debt
- 4,869
- Net Working Capital
- -402
- Contingent Liabilities
- 999
- Book Value per Share
- 102.48
- Face Value
- 1.00
- Equity Capital
- 240
- 23,508
- 6
- Trade Payables
- 3,126
- 14,444
- Total Liabilities
- 41,324
- 8,712
- Capital Work in Progress
- 329
- 12,613
- 3,989
- 0
- Cash & Bank
- 421
- 15,260
- Total Assets
- 41,324
- Total Debt
- 7,593
- Net Working Capital
- 8,078
- Contingent Liabilities
- 938
- Book Value per Share
- 98.98
- Face Value
- 1.00
- Total Debt
- 7,593
- Net Working Capital
- 8,078
- Contingent Liabilities
- 938
- Book Value per Share
- 98.98
- Face Value
- 1.00
- Equity Capital
- 240
- 23,454
- 11
- Trade Payables
- 2,620
- 15,661
- Total Liabilities
- 41,985
- 7,737
- Capital Work in Progress
- 388
- 12,430
- 3,424
- 8,834
- Cash & Bank
- 338
- 8,834
- Total Assets
- 41,985
- Total Debt
- 11,047
- Net Working Capital
- 10,468
- Contingent Liabilities
- 889
- Book Value per Share
- 98.76
- Face Value
- 1.00
- Total Debt
- 11,047
- Net Working Capital
- 10,468
- Contingent Liabilities
- 889
- Book Value per Share
- 98.76
- Face Value
- 1.00
- Equity Capital
- 240
- 23,660
- 10,954
- Trade Payables
- 3,470
- 7,002
- Total Liabilities
- 45,327
- 7,372
- Capital Work in Progress
- 708
- 12,410
- 3,934
- 11,702
- Cash & Bank
- 911
- 8,289
- Total Assets
- 45,327
- Total Debt
- 11,764
- Net Working Capital
- 578
- Contingent Liabilities
- 1,942
- Book Value per Share
- 99.61
- Face Value
- 1.00
- Total Debt
- 11,764
- Net Working Capital
- 578
- Contingent Liabilities
- 1,942
- Book Value per Share
- 99.61
- Face Value
- 1.00
- Equity Capital
- 240
- 22,131
- 0
- Trade Payables
- 3,533
- 20,105
- Total Liabilities
- 46,010
- 7,613
- Capital Work in Progress
- 652
- 12,952
- 4,302
- 10,166
- Cash & Bank
- 437
- 9,887
- Total Assets
- 46,010
- Total Debt
- 13,420
- Net Working Capital
- 10,175
- Contingent Liabilities
- 1,291
- Book Value per Share
- 93.24
- Face Value
- 1.00
- Total Debt
- 13,420
- Net Working Capital
- 10,175
- Contingent Liabilities
- 1,291
- Book Value per Share
- 93.24
- Face Value
- 1.00
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -1,621 | -1,171 | 1,242 | 1,306 | -417 | 7,636 | 507 | -292 | 4,252 | 6,501 | |
| Cash from Investing | 2,381 | 1,392 | 434 | 1,479 | 1,464 | -2,702 | -705 | -263 | -258 | -1,381 |
| Cash from Financing | -753 | -272 | -1,469 | -2,871 | -1,000 | -4,871 | 169 | 474 | -3,836 | -5,230 |
| 7 | -52 | 207 | -86 | 48 | 63 | -29 | -81 | 158 | -110 | |
| Free Cash Flow | -2,795 | -2,531 | 728 | 594 | -8,059 | 6,354 | -13 | -859 | 2,984 | 5,076 |
| OCF / Net Profit | 70.97 | -3.83 | 1.52 | 0.41 | -0.49 | -76.37 | 0.30 | -0.10 | 1.01 | 2.48 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -12,063 | -2,914 | -396 | -1,982 | 407 | 13,543 |
| OCF / Net Profit | 70.97 | -3.83 | 1.52 | 0.41 | -0.49 | -76.37 | 0.30 | -0.10 | 1.01 | 2.48 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -12,063 | -2,914 | -396 | -1,982 | 407 | 13,543 |
- -1,621
- Cash from Investing
- 2,381
- Cash from Financing
- -753
- 7
- Free Cash Flow
- -2,795
- OCF / Net Profit
- 70.97
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 70.97
- Cumulative 5-Year FCF
- 0
- -1,171
- Cash from Investing
- 1,392
- Cash from Financing
- -272
- -52
- Free Cash Flow
- -2,531
- OCF / Net Profit
- -3.83
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -3.83
- Cumulative 5-Year FCF
- 0
- 1,242
- Cash from Investing
- 434
- Cash from Financing
- -1,469
- 207
- Free Cash Flow
- 728
- OCF / Net Profit
- 1.52
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.52
- Cumulative 5-Year FCF
- 0
- 1,306
- Cash from Investing
- 1,479
- Cash from Financing
- -2,871
- -86
- Free Cash Flow
- 594
- OCF / Net Profit
- 0.41
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.41
- Cumulative 5-Year FCF
- 0
- -417
- Cash from Investing
- 1,464
- Cash from Financing
- -1,000
- 48
- Free Cash Flow
- -8,059
- OCF / Net Profit
- -0.49
- Cumulative 5-Year FCF
- -12,063
- OCF / Net Profit
- -0.49
- Cumulative 5-Year FCF
- -12,063
- 7,636
- Cash from Investing
- -2,702
- Cash from Financing
- -4,871
- 63
- Free Cash Flow
- 6,354
- OCF / Net Profit
- -76.37
- Cumulative 5-Year FCF
- -2,914
- OCF / Net Profit
- -76.37
- Cumulative 5-Year FCF
- -2,914
- 507
- Cash from Investing
- -705
- Cash from Financing
- 169
- -29
- Free Cash Flow
- -13
- OCF / Net Profit
- 0.30
- Cumulative 5-Year FCF
- -396
- OCF / Net Profit
- 0.30
- Cumulative 5-Year FCF
- -396
- -292
- Cash from Investing
- -263
- Cash from Financing
- 474
- -81
- Free Cash Flow
- -859
- OCF / Net Profit
- -0.10
- Cumulative 5-Year FCF
- -1,982
- OCF / Net Profit
- -0.10
- Cumulative 5-Year FCF
- -1,982
- 4,252
- Cash from Investing
- -258
- Cash from Financing
- -3,836
- 158
- Free Cash Flow
- 2,984
- OCF / Net Profit
- 1.01
- Cumulative 5-Year FCF
- 407
- OCF / Net Profit
- 1.01
- Cumulative 5-Year FCF
- 407
- 6,501
- Cash from Investing
- -1,381
- Cash from Financing
- -5,230
- -110
- Free Cash Flow
- 5,076
- OCF / Net Profit
- 2.48
- Cumulative 5-Year FCF
- 13,543
- OCF / Net Profit
- 2.48
- Cumulative 5-Year FCF
- 13,543
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | -0.10 | 1.27 | 3.40 | 13.38 | 3.51 | -0.42 | 7.05 | 11.91 | 17.62 | 10.93 |
| Book Value (₹) | 87.57 | 93.04 | 95.21 | 101.68 | 112.28 | 102.48 | 98.98 | 98.76 | 99.61 | 93.24 |
| Dividend per Share (₹) | 3.50 | 2.00 | 2.75 | 4.00 | 7.50 | 10.00 | 11.50 | 13.50 | 16.00 | 16.00 |
| Cash EPS (₹) | 1.66 | 3.30 | 5.71 | 15.72 | 8.66 | 5.21 | 13.72 | 18.58 | 22.99 | 16.40 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 8.07% | 17.76% | 24.41% | 30.52% | 15.38% | 24.60% | 32.44% | 27.13% | 28.65% | 23.06% |
| Net Margin % | -0.29% | 2.58% | 6.58% | 23.21% | 5.29% | -0.64% | 8.12% | 14.10% | 18.40% | 12.64% |
| ROE % | -0.11% | 1.41% | 3.62% | 13.60% | 3.28% | -0.39% | 7.00% | 12.05% | 17.77% | 11.34% |
| ROCE % | 0.75% | 2.38% | 4.31% | 12.19% | 3.46% | 2.19% | 7.28% | 12.81% | 16.85% | 13.27% |
| -0.07% | 0.86% | 2.17% | 8.36% | 2.03% | -0.23% | 4.10% | 6.86% | 9.69% | 5.74% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 110 | 123 | 152 | 148 | 146 | 126 | 100 | 144 | 163 | 192 |
| Inventory Days | 104 | 68 | 73 | 72 | 69 | 79 | 65 | 67 | 58 | 72 |
| Payable Days | 213 | 239 | 235 | 171 | 220 | 218 | 176 | 187 | 194 | 234 |
| 1 | -47 | -10 | 48 | -4 | -13 | -11 | 23 | 27 | 31 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.29x | 0.31x | 0.28x | 0.26x | 0.26x | 0.20x | 0.32x | 0.47x | 0.49x | 0.60x |
| Interest Coverage (x) | 0.92x | 1.72x | 2.33x | 8.97x | 4.20x | 1.79x | 4.69x | 5.40x | 6.22x | 5.00x |
| 0.58x | 0.76x | 0.84x | 1.07x | 1.28x | 0.96x | 1.97x | 3.36x | 1.03x | 2.00x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | -0.64% | 16.90% | 14.70% | 21.63% | 12.64% | 10.41% | 33.53% | -2.58% | 13.33% | -9.67% |
| Operating Profit Growth % | 2280.96% | 234.84% | 43.74% | 39.46% | -42.00% | 57.83% | 74.67% | -10.35% | 19.22% | -8.55% |
| Net Profit Growth % | 97.90% | 1438.18% | 167.18% | 293.23% | -73.77% | -111.87% | 1790.89% | 69.05% | 47.93% | -37.95% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 69.05% | 47.93% | -37.95% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 136.03x | 98.48x | 160.72x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 16.41x | 17.42x | 18.85x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.83% | 0.92% | 0.91% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 66.00x | 59.20x | 65.85x |
- EPS (₹)
- -0.10
- Book Value (₹)
- 87.57
- Dividend per Share (₹)
- 3.50
- Cash EPS (₹)
- 1.66
- Operating Margin %
- 8.07%
- Net Margin %
- -0.29%
- ROE %
- -0.11%
- ROCE %
- 0.75%
- -0.07%
- Debtor Days
- 110
- Inventory Days
- 104
- Payable Days
- 213
- 1
- Debt to Equity (x)
- 0.29x
- Interest Coverage (x)
- 0.92x
- 0.58x
- Revenue Growth %
- -0.64%
- Operating Profit Growth %
- 2280.96%
- Net Profit Growth %
- 97.90%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 1.27
- Book Value (₹)
- 93.04
- Dividend per Share (₹)
- 2.00
- Cash EPS (₹)
- 3.30
- Operating Margin %
- 17.76%
- Net Margin %
- 2.58%
- ROE %
- 1.41%
- ROCE %
- 2.38%
- 0.86%
- Debtor Days
- 123
- Inventory Days
- 68
- Payable Days
- 239
- -47
- Debt to Equity (x)
- 0.31x
- Interest Coverage (x)
- 1.72x
- 0.76x
- Revenue Growth %
- 16.90%
- Operating Profit Growth %
- 234.84%
- Net Profit Growth %
- 1438.18%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 3.40
- Book Value (₹)
- 95.21
- Dividend per Share (₹)
- 2.75
- Cash EPS (₹)
- 5.71
- Operating Margin %
- 24.41%
- Net Margin %
- 6.58%
- ROE %
- 3.62%
- ROCE %
- 4.31%
- 2.17%
- Debtor Days
- 152
- Inventory Days
- 73
- Payable Days
- 235
- -10
- Debt to Equity (x)
- 0.28x
- Interest Coverage (x)
- 2.33x
- 0.84x
- Revenue Growth %
- 14.70%
- Operating Profit Growth %
- 43.74%
- Net Profit Growth %
- 167.18%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 13.38
- Book Value (₹)
- 101.68
- Dividend per Share (₹)
- 4.00
- Cash EPS (₹)
- 15.72
- Operating Margin %
- 30.52%
- Net Margin %
- 23.21%
- ROE %
- 13.60%
- ROCE %
- 12.19%
- 8.36%
- Debtor Days
- 148
- Inventory Days
- 72
- Payable Days
- 171
- 48
- Debt to Equity (x)
- 0.26x
- Interest Coverage (x)
- 8.97x
- 1.07x
- Revenue Growth %
- 21.63%
- Operating Profit Growth %
- 39.46%
- Net Profit Growth %
- 293.23%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 3.51
- Book Value (₹)
- 112.28
- Dividend per Share (₹)
- 7.50
- Cash EPS (₹)
- 8.66
- Operating Margin %
- 15.38%
- Net Margin %
- 5.29%
- ROE %
- 3.28%
- ROCE %
- 3.46%
- 2.03%
- Debtor Days
- 146
- Inventory Days
- 69
- Payable Days
- 220
- -4
- Debt to Equity (x)
- 0.26x
- Interest Coverage (x)
- 4.20x
- 1.28x
- Revenue Growth %
- 12.64%
- Operating Profit Growth %
- -42.00%
- Net Profit Growth %
- -73.77%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- -0.42
- Book Value (₹)
- 102.48
- Dividend per Share (₹)
- 10.00
- Cash EPS (₹)
- 5.21
- Operating Margin %
- 24.60%
- Net Margin %
- -0.64%
- ROE %
- -0.39%
- ROCE %
- 2.19%
- -0.23%
- Debtor Days
- 126
- Inventory Days
- 79
- Payable Days
- 218
- -13
- Debt to Equity (x)
- 0.20x
- Interest Coverage (x)
- 1.79x
- 0.96x
- Revenue Growth %
- 10.41%
- Operating Profit Growth %
- 57.83%
- Net Profit Growth %
- -111.87%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 7.05
- Book Value (₹)
- 98.98
- Dividend per Share (₹)
- 11.50
- Cash EPS (₹)
- 13.72
- Operating Margin %
- 32.44%
- Net Margin %
- 8.12%
- ROE %
- 7.00%
- ROCE %
- 7.28%
- 4.10%
- Debtor Days
- 100
- Inventory Days
- 65
- Payable Days
- 176
- -11
- Debt to Equity (x)
- 0.32x
- Interest Coverage (x)
- 4.69x
- 1.97x
- Revenue Growth %
- 33.53%
- Operating Profit Growth %
- 74.67%
- Net Profit Growth %
- 1790.89%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 11.91
- Book Value (₹)
- 98.76
- Dividend per Share (₹)
- 13.50
- Cash EPS (₹)
- 18.58
- Operating Margin %
- 27.13%
- Net Margin %
- 14.10%
- ROE %
- 12.05%
- ROCE %
- 12.81%
- 6.86%
- Debtor Days
- 144
- Inventory Days
- 67
- Payable Days
- 187
- 23
- Debt to Equity (x)
- 0.47x
- Interest Coverage (x)
- 5.40x
- 3.36x
- Revenue Growth %
- -2.58%
- Operating Profit Growth %
- -10.35%
- Net Profit Growth %
- 69.05%
- 69.05%
- P/E (x)
- 136.03x
- P/B (x)
- 16.41x
- Dividend Yield %
- 0.83%
- 66.00x
- EPS (₹)
- 17.62
- Book Value (₹)
- 99.61
- Dividend per Share (₹)
- 16.00
- Cash EPS (₹)
- 22.99
- Operating Margin %
- 28.65%
- Net Margin %
- 18.40%
- ROE %
- 17.77%
- ROCE %
- 16.85%
- 9.69%
- Debtor Days
- 163
- Inventory Days
- 58
- Payable Days
- 194
- 27
- Debt to Equity (x)
- 0.49x
- Interest Coverage (x)
- 6.22x
- 1.03x
- Revenue Growth %
- 13.33%
- Operating Profit Growth %
- 19.22%
- Net Profit Growth %
- 47.93%
- 47.93%
- P/E (x)
- 98.48x
- P/B (x)
- 17.42x
- Dividend Yield %
- 0.92%
- 59.20x
- EPS (₹)
- 10.93
- Book Value (₹)
- 93.24
- Dividend per Share (₹)
- 16.00
- Cash EPS (₹)
- 16.40
- Operating Margin %
- 23.06%
- Net Margin %
- 12.64%
- ROE %
- 11.34%
- ROCE %
- 13.27%
- 5.74%
- Debtor Days
- 192
- Inventory Days
- 72
- Payable Days
- 234
- 31
- Debt to Equity (x)
- 0.60x
- Interest Coverage (x)
- 5.00x
- 2.00x
- Revenue Growth %
- -9.67%
- Operating Profit Growth %
- -8.55%
- Net Profit Growth %
- -37.95%
- -37.95%
- P/E (x)
- 160.72x
- P/B (x)
- 18.85x
- Dividend Yield %
- 0.91%
- 65.85x
Documents
Announcements
- General Updates
2026-08-17 - Update on Lipitor Antitrust Litigation
- General Updates
2026-08-06 - Receipt of No-objection letters from the Stock Exchanges for Reclassification of Promoter Group
Annual Reports
Credit Ratings
- Credit Rating
2026-08-05 - Sun Pharmaceutical Industries Limited has informed the Exchange about Credit Rating
- Credit Rating
2026-05-07 - Sun Pharmaceutical Industries Limited has informed the Exchange about Credit Rating
Concalls
Aug 2026
Jul 2026
May 2026

