SUN PHARMA = FIRST QUARTER (Q1 FY 2011) RESULTS = EXCELLENT = CONSOLIDATED & STAND ALONE = FUTURE PROMISING

Sun Pharmaceuticals Industries Limited

NSE Symbol   SUNPHARMA

Q1 FY 2011 results

Comparison

Sun Pharma has performed well in its first quarter both in respect of consolidated and stand alone results.

The non consolidated figures comparison is presented first and then followed by consolidated figures comparison.

NONCONSOLIDATED FIGURES

Net Sales at rs.498.88 cr has gone up by 22.9% compared to the Q1 FY2010(Rs.405.88 Cr)  - and by 8.1 proportionately (q1 FY11 x 4) compared to FY2010 (Rs.1846.13 Cr).

Profit from Operations      at Rs.293 Cr has gone up by 268.4% compared to Q1 FY10(Rs.80 Cr) – and by36.4% proportionately compared to FY2010(Rs.859 Cr).

Net profit at Rs.323 Cr has gone up by 165.5% compared to Q1 FY2010(Rs.122 Cr) – and by 43.6% proportionately compared to FY 2010 (Rs.899 Cr).

Basic EPS at Rs.15.6 against the FV of Rs.5 is higher by 164.4% compared to Q1 FY2010 (Rs.5.9) – and higher by 43.8% proportionately compared to FY2010 (Rs.43.4). At this rate of growth the stand alone EPS for FY2011 must be over 62.

STAND ALONE FIGURES :

SUNPHARMA	Jun-10	Jun-09	dif%1	FY10N/C	dif%2
Net Sales	49888	40588	22.9	184613	8.1
Other Optg Income	25981	7087	266.6	67766	53.4
SIT&WIP	187	1216	-84.6	-3091	-124.2
Raw Materials	20056	15736	27.5	70926	13.1
Traded Goods	4083	2408	69.6	13704	19.2
Employees Cost	6174	5148	19.9	21215	16.4
Depreciation	1782	1726	3.2	6947	2.6
Other Expdr	14285	13487	5.9	56759	0.7
Total Expdr	46567	39721	17.2	166460	11.9
Profit.Operations	29302	7954	268.4	85919	36.4
Other Income5	3302	1466	125.2	-1488	-987.6
P B I & EI	32604	9420	246.1	84431	54.5
Interest6	-1662	-3213	-48.3	-10485	-36.6
P A I B B EI	34266	12633	171.2	94916	44.4
P B T	34266	12633	171.2	94916	44.4
Tax expense	2003	482	315.6	5051	58.6
P A T	32263	12151	165.5	89865	43.6
Net Profit	32263	12151	165.5	89865	43.6
Dividend.%	-	-		275
Face Value .Rs	5	5	0	5
Paid Up Equity	10356	10356	0	10356
Reserves	-	-		561442
Basic EPS	15.6	5.9	164.4	43.4	43.8
Public holding.%	36.28	36.29	0	36.28

CONSOLIDATED FIGURES

Highlights of consolidated financials

• Net income from operations at  Rs.1400 crores, registering a growth of 78% over corresponding quarter last year

• India branded generic sale at  Rs.598 crores, with a growth of 91% on account of the low base in Q1FY10; growth over immediate preceding quarter is 17%

• Caraco sales at $ 130 million, up 171% from Q1FY10; was aided by one-time sale of generic oxaliplatin distributed by Caraco. Sale of this product was stopped on June 30, 2010.

• International formulation sales have grown by 32% (at constant dollar) over Q1FY10.

• Operating margin is at 41% compared to 12% in Q1FY10

• Net profit at is Rs.564 crores, equivalent to 40% net margin

The consolidated figures – further analysis :-

Net Sales at Rs.1399.70 Cr – is higher by 77.7% compared to q1 FY2010(Rs.787.59 Cr) – and higher proportionately by 4% compared to FY2010 (Rs.4102.77 Cr).

Profit from Operations      at Rs.575.77 Cr – is higher by 532.6% compared to Q1 FY2010 (Rs.91.01 Cr) – and proportionately up by 9.9% compared to FY2010 (Rs.1209.50 Cr)

The consolidated Net Profit       at Rs.564.32 Cr is – up by 244.4% compared to Q1 FY2010 (Rs.163.84 Cr)  - and also proportionately up by 7.4% compared to Rs.1351.08 Cr in FY2010.

The consolidated Basic EPS   is Rs.27.2 against Rs.7.9 in Q1 FY2010 and Rs.65.2 for the full year of FY2010.

PE RATIO : Current MP is rs.1802/-. Hence, the PE Ratio on the basis of Q1 EPS annualized will be around 17

The performance of Sun Pharma is quite impressive on stand alone as well as consolidated basis in first quarter.

CONSOLIDATED FIGURES:

SUNPHARMA	JUN10CON	JUN09 N/C	Dif%1	FY10CON	dif%2
Net Sales	139970	78759	77.7	410277	4
SIT&WIP	-7435	-8467	-12.2	-3244	89.8
Raw Materials	36919	32149	14.8	99323	5.4
Traded Goods	4083	2335	74.9	13704	2.1
Employees Cost	12461	12508	-0.4	48221	0.4
Depreciation	4020	3758	7	15331	0.5
Other Expdr	32345	27375	18.2	115992	1.3
Total Expdr	82393	69658	18.3	289327	1.5
Profit.Operations	57577	9101	532.6	120950	9.9
Other Income5	-876	2708	-132.3	9145	-15.2
P B I & EI	56701	11809	380.2	130095	8.2
Interest6	-2032	-3324	-38.9	-11389	-3.1
P A I B B EI	58733	15133	288.1	141484	7.3
P B T	58733	15133	288.1	141484	7.3
Tax expense	970	311	211.9	6786	-4.7
P A T	57763	14822	289.7	134698	7.9
Net Profit	56432	16384	244.4	135108	7.4
Dividend.%	-	-		-
Face Value .Rs	5	5	0	5	33
Paid Up Equity	10356	10356	0	10356	33
Reserves	-	-		772535
Basic EPS	27.2	7.9	244.3	65.2	7.4
Public holding.%	36.28	36.29	0	36.28	33

ANNOUNCEMENTS

TO THE EXCHANGE

28-07-2010        Sun Pharmaceuticals Industries Limited has informed the Exchange regarding a press release dated July 28, 2010 titled "Sun Pharma reports strong performance in Q1FY11; Sales 1400 crores, up 78%, Net Profit 564 crores, up 244%".

28-07-2010        Sun Pharmaceuticals Industries Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 49888 lacs for quarter ending on 30-JUN-2010 against Rs. 40588 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 32263 lacs for the quarter ending on 30-JUN-2010 against Rs. 12151 lacs for the quarter ending on 30-JUN-2009. -

28-07-2010        Sun Pharmaceuticals Industries Limited has informed the Exchange regarding the consolidated Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 139970 lacs for quarter ending on 30-JUN-2010 against Rs. 78759 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 56432 lacs for the quarter ending on 30-JUN-2010 against Rs. 16384 lacs for the quarter ending on 30-JUN-2009. -

15-07-2010        Sun Pharmaceuticals Industries Limited has informed the Exchange regarding a press release dated July 15, 2010 titled "U.S. District Court Rules in Favor of Sun Pharmaceutical, Dismisses All of Taro's Claims".

4-05-2010          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.

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