Monday, May 24, 2010

SUN PHARMA- FY10 vs FY 09 - LOWER SALES, PROFITS & EPS





Sun Pharmaceuticals Industries Limited
2008-09 vs 2009-10
Comparison

The financial results of Sun Pharma –both consolidated and consolidated are below :
Consolidated net sales has come down by 3.97 percent. But, total expenditure has increased by 14.28 percent. Consequently consolidated net profit has come down by  25.74 percent.
Consolidated EPS has come down to 65.2 from 87.8, a fall of 25.74 percent YOY.

FY10( lakhs)
%age
Net Sales
410277
427230
-3.97
Raw Materials
99323
89368
11.14
Traded goods
13704
5693
140.72
Employees Cost
48221
43986
9.63
Depreciation
15331
12329
24.35
Other Expenditure
115992
111168
4.34
Total Expenditure
289327
253171
14.28
O P T
120950
174059
-30.51
Other Income
9145
8684
5.31
Interest
-11389
-12174
-6.45
Net Profit
134698
187801
-28.28
Consolidated NPT
135108
181773
-25.67
Face Value (in Rs.)
5
5
0
Paid-up Equity
10356
10356
0
Reserves
772535
694136
11.29
Basic EPS
65.2
87.8
-25.74


STAND ALONE RESULTS

The stand alone Net sales has come down more steeply by  33.35 percent. Total expenditure has also come down by 39.44 percent. Consequently, stand alone net profit is down by 28.98 percent. The stand alone Basic EPS is down by 28.97 percent to 43.4 in FY 10 from 61.1  in FY 09. The reason for this all-round downturn in performance in FY10  - specially in sales needs further analysis and clarification from Management.
Sun Pharma had earlier lost some patent cases in US courts and also its US subsidiary seems to have been asked to stop production by the US drug regulator last year for not sorting out irregularities in manufacturing units. The latest position on these cases is not clear. Whether these are responsible for the lower sales, and profits is to be clarified.
Sun Pharma is currently quoting at Rs.1540, at a PE ratio of 23.62 to its consolidated EPS and35.48 to its stand alone EPS.

FY10lakhs
%age
Net Sales
184613
276975
-33.35
Other Oprtg Income
67766
109180
-37.93
Raw Materials
70926
66425
6.78
Traded goods
13704
127067
-89.22
Other Expenditure
56759
59926
-5.28
Total Expenditure
166460
274861
-39.44
O P T
85919
111294
-22.8
Net Profit
89865
126529
-28.98
Dividend (%)
275
275
0
Face Value (in Rs.)
5
5
0
Paid-up Equity
10356
10356
0
Reserves
561442
504786
11.22
Basic EPS
43.4
61.1
-28.97


AVAILABLE
QUARTERLY RESULTS
COMPARISON
2009DEC
2009SEP
2009JUNE
2008 DEC
2008 SEP
Net Sales
48964
47439
40588
63106
69753
Other Operating Income
21280
18974
7087
23187
23184
 Raw Materials
14287
20957
15736
17349
16219
Traded Goods
5254
1991
2408
28912
29423
Employees Cost
5237
5301
5148
4662
4812
Depreciation
1540
1662
1726
1440
1460
Other Expenditure
12969
21087
13487
14679
15728
Total Expenditure
38337
48760
39721
63773
67899
Net Profit
31804
20306
12151
25668
30314
Dividend (%)
-
-
-
-
-
Face Value (In Rs
5
5
5
5
5
Paid Up Equity
10356
10356
10356
10356
10356
Reserves
-
-
-
-
-
Basic EPS
15.4
9.8
5.9
12.4
14.6


ANNOUNCEMENTS TO THE EXCHANGE
24-05-2010        Sun Pharmaceuticals Industries Limited has informed the Exchange regarding a press release dated May 24, 2010, titled "Sun Pharma reports 2009-10 financials, Net sales Rs.4103 crores, Net Profit Rs.1351 crores, R&D Spend Rs.247 crores".         
24-05-2010        Sun Pharmaceuticals Industries Limited has informed the Exchange that the Board of Directors at its Meeting held on May 24, 2010 have recommended payment of dividend of Rs. 13.75 per equity share of Rs. 5/- each of the Company for the year ended March 31, 2010 subject to the approval of the members at the ensuing Annual General Meeting of the Company. -
24-05-2010        Sun Pharmaceuticals Industries Limited has informed the Exchange regarding the consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 410277 lacs for year ending on 31-MAR-2010 against Rs. 427230 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 135108 lacs for the year ending on 31-MAR-2010 against Rs. 181773 lacs for the year ending on 31-MAR-2009.        -
24-05-2010        Sun Pharmaceuticals Industries Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 184613 lacs for year ending on 31-MAR-2010 against Rs. 276975 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 89865 lacs for the year ending on 31-MAR-2010 against Rs. 126529 lacs for the year ending on 31-MAR-2009.        -
17-05-2010        Sun Pharmaceuticals Industries Limited has informed the Exchange regarding a press release dated May 17, 2010, titled "Sun Pharma to announce Q4FY10 results on May 24, 2010".
06-05-2010        Sun Pharmaceuticals Industries Limited has informed the Exchange regarding a press release dated May 06, 2010, titled " Sun Pharma announces USFDA approval for generic Namenda® tablets". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
26-04-2010        Sun Pharmaceuticals Industries Limited has informed the Exchange regarding a press release dated April 24, 2010, titled " Sun Pharma : An update on generic Protonix(R) litigation". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).       -
12-04-2010        Sun Pharmaceuticals Industries Ltd has informed the Exchange regarding a press release dated April 10, 2010, titled " Sun Pharma announces USFDA tentative approval for generic Namenda(R) tablets". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
08-04-2010        Sun Pharmaceuticals Industries Ltd has informed the Exchange regarding a press release dated April 08, 2010, titled " Sun Pharma announces USFDA approval for generic Wellbutrin SR(R) extended release tablets".
18-03-2010        Sun Pharmaceuticals Industries Ltd has informed the Exchange regarding a press release dated March 18, 2010, titled " Sun Pharma announces USFDA approval for generic Prometh Syrup ". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
29-01-2010        Sun Pharmaceuticals Industries Ltd has informed the Exchange regarding a press release dated January 29, 2010, titled "Sun Pharma reports Q3 2009-10 financials; Q3: Net sales Rs.1021 crores, Net profit Rs.339 crores". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

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