Transcription of Sun Pharmaceutical Industries01Feb22
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February 1, 2022 1 Rating: BUY | CMP: Rs835 | TP: Rs1,050 In line EBITDA; Specialty ramp-up continues Quick Pointers: Global specialty revenue further scaled up to USD183m, up 17% QoQ; Strong response for Winlevi launch Other expenses inch up QoQ and YoY led by normalization of expenses. Sun pharma (SUNP) reported strong growth across markets with EBITDA growth of +12% YoY aided by 1) specialty ramp-up across the globe, 2) focus on domestic market and 3) steady growth across ROW market. company s significant investments and efforts in specialty business has started paying off in upward trajectory of revenue. Sustained momentum in specialty will help in improving operating leverage and margins. Also, domestic formulations (32% of total revenue) continue to outperform IPM.
Sun Pharma (SUNP) reported strong growth across markets with EBITDA growth of +12% YoY aided by 1) specialty ramp-up across the globe, 2) focus on domestic market and 3) steady growth across ROW market. Company’s significant investments and efforts in specialty business has started paying off in upward trajectory of revenue.
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