Sun Pharmaceutical Industries (SUNPHARMA)

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Sun Pharmaceutical Industries (SUNPHARMA) · mywealthgrid

About

India's largest drugmaker by scale (₹4.63 lakh crore market cap, ₹15,300 Cr annual revenue) with growing global specialty pharmaceutical portfolio. Strong operational margins of 30.33% and fortress balance sheet (D/E 0.05) support premium valuation and 20.75% annual returns, though 38.3x PE reflects a multiple relative to 4.7% organic growth.

Founded: 1983
Face value: ₹1

Market cap

₹4,32,240 Cr

P/E

35.7×

P/B

5.2×

Dividend yield

0.9%

ROE

14.7%

ROCE

20.9%

Debt / equity

0.05

OPM

30.3%

EPS (TTM)

₹50.4

Book value

₹348.3

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin volatility: OPM range of 26–34% across recent quarters signals inconsistent execution or shifting business mix—verify root causes and forward sustainability
Modest organic revenue growth of 4.7% (FY25–26) for India's largest drugmaker risks specialty portfolio timing—confirm contribution and competitive positioning
High valuation multiple of 38.3x PE against 7% EPS growth (FY25–26)—verify earnings trajectory and inflection points justifying premium
Quarterly earnings volatility (EPS ₹2.4–4.6 range)—clarify seasonality, product mix shifts, or specialty product ramp timing

Generated analysis · source review pending

Growth drivers

Latest quarter (Q1 FY27) EPS of ₹4.6 significantly exceeds prior quarterly range of ₹2.4–2.9; verify if sustainable profit inflection or seasonal strength
Operating margin improved to 34.21% in latest quarter versus 30.33% average; confirm drivers (product mix, cost discipline) and sustainability across portfolio
Global specialty pharmaceutical portfolio cited as growth avenue, yet standalone revenue grew only 4.7% in FY26—verify which products and markets are expanding
Strong balance sheet (D/E 0.05) funds reinvestment and M&A; clarify capital deployment between organic R&D, specialty acquisitions, and shareholder returns

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹1,801.0-3.4%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 30.3%
+Profit CAGR of 31.6% over the last 5 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 49.5×
+Dividend payout of 31.7% of profit

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

57/100

Business quality: 75
Growth: 54
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY 50 NIFTY 100 NIFTY 200 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Sun Pharmaceutical IndustriesSUNPHARMASUNPHARMA	₹4,32,240 Cr	₹4,36,322 Cr	₹59,911 Cr	₹17,847 Cr	30.3%	₹12,096 Cr	19.7%	20.9%	14.7%	228
Divi's LaboratoriesDIVISLABDIVISLAB	₹2,45,561 Cr	₹2,45,561 Cr	₹11,230 Cr	₹3,967 Cr	32.6%	₹2,925 Cr	24.3%	20.8%	16.2%	348
Torrent Pharmaceuticals LimitedTORNTPHARMTORNTPHARM	₹1,61,325 Cr	₹1,76,123 Cr	₹15,723 Cr	₹5,191 Cr	32.6%	₹2,181 Cr	15.3%	14.5%	27.1%	163
Apollo Hospitals EnterpriseAPOLLOHOSPAPOLLOHOSP	₹1,16,960 Cr	₹1,22,618 Cr	₹26,430 Cr	₹4,010 Cr	14.9%	₹2,090 Cr	7.9%	19.4%	21.9%	3
Zydus Lifesciences LimitedZYDUSLIFEZYDUSLIFE	₹1,14,284 Cr	₹1,26,053 Cr	₹28,592 Cr	₹8,316 Cr	31.2%	₹4,513 Cr	18.9%	23.4%	19.7%	212
CiplaCIPLACIPLA	₹1,08,864 Cr	₹1,09,122 Cr	₹28,324 Cr	₹5,297 Cr	20.9%	₹3,371 Cr	13.7%	16.5%	11.8%	202
Laurus Labs LimitedLAURUSLABSLAURUSLABS	₹1,07,176 Cr	₹1,09,573 Cr	₹7,270 Cr	₹2,034 Cr	26.1%	₹1,093 Cr	13.1%	21.3%	18.2%	263
Mankind Pharma LimitedMANKINDMANKIND	₹1,04,696 Cr	₹1,11,007 Cr	₹14,738 Cr	₹3,827 Cr	25.3%	₹2,068 Cr	13.6%	14.2%	12.5%	117
Dr. Reddy's LaboratoriesDRREDDYDRREDDY	₹1,00,682 Cr	₹1,06,975 Cr	₹33,228 Cr	₹5,140 Cr	19.2%	₹3,222 Cr	12.3%	14.8%	11.7%	247
Aurobindo Pharma LimitedAUROPHARMAAUROPHARMA	₹97,389 Cr	₹1,05,065 Cr	₹34,935 Cr	₹7,085 Cr	20.3%	₹3,713 Cr	10.4%	14.7%	9.9%	252
Lupin LimitedLUPINLUPIN	₹92,866 Cr	₹98,777 Cr	₹29,967 Cr	₹9,538 Cr	31.5%	₹5,529 Cr	19.2%	34.2%	26.9%	181
Max Healthcare Institute LimitedMAXHEALTHMAXHEALTH	₹91,573 Cr	₹95,052 Cr	₹8,712 Cr	₹2,318 Cr	26.8%	₹1,457 Cr	17.2%	13.8%	14.3%	-110

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	26,489	29,066	32,838	33,498	38,654	43,886	48,497	52,578	58,462
COGS	7,425	7,869	9,230	8,690	10,352	10,662	10,663	10,747	11,544
Gross profit	19,065	21,197	23,607	24,808	28,303	33,224	37,834	41,831	46,918
	13,482	14,891	16,632	16,329	17,922	21,625	24,850	26,575	29,243
	5,583	6,306	6,975	8,479	10,381	11,599	12,985	15,256	17,676
OPM %	21.1%	21.7%	21.2%	25.3%	26.9%	26.4%	26.8%	29%	30.2%
Depreciation	1,500	1,753	2,053	2,080	2,144	2,529	2,557	2,575	2,938
Interest	518	555	303	141	127	172	238	231	339
	-112	-189	375	-3,471	-3,645	463	860	1,287	664
Profit before tax	3,454	3,809	4,995	2,787	4,465	9,361	11,049	13,737	15,063
Tax	845	601	823	515	1,076	848	1,439	2,772	3,554
Tax %	24.5%	15.8%	16.5%	18.5%	24.1%	9.1%	13%	20.2%	23.6%
	2,608	3,208	4,172	2,272	3,389	8,513	9,610	10,965	11,509
PAT margin %	9.9%	11%	12.7%	6.8%	8.8%	19.4%	19.8%	20.9%	19.7%
EPS (₹)	9	11.1	15.7	12.1	13.6	35.3	39.9	45.6	47.8
EPS adjusted (₹)	9	11.1	15.7	12.1	13.6	35.3	39.9	45.6	47.8
	22.2%	24.8%	25.5%	62%	73.5%	32.6%	33.8%	35.1%	33.5%
Annual report	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	207	241	240	240	240	240	240	240	240	240	240
Reserves	27,801	32,742	38,074	—	45,025	46,223	47,771	55,755	63,427	71,978	83,330
Minority interest	2,885	4,085	3,884	—	3,860	3,017	3,055	3,320	3,439	268	310
	7,572	8,316	9,752	—	7,578	3,523	931	6,198	2,846	1,870	4,082
	11,695	10,146	12,566	—	11,549	14,663	17,811	15,230	15,511	17,745	20,824
Total equity & liabilities	50,160	55,530	64,516	—	68,252	67,667	69,808	80,744	85,463	92,101	1,08,785
	7,646	10,238	13,246	21,837	22,847	21,553	22,665	24,420	23,211	22,586	32,822
CWIP	1,532	1,203	1,434	—	659	937	798	963	1,108	1,234	1,381
Investments	3,503	1,830	7,143	—	10,143	9,612	12,849	14,830	15,026	18,354	24,723
	37,479	42,259	42,693	—	34,604	35,565	33,497	40,530	46,118	49,926	49,860
Total assets	50,160	55,530	64,516	—	68,252	67,667	69,808	80,744	85,463	92,101	1,08,785

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	72.9%	71.9%	74.1%	73.2%	75.7%	78%	79.6%	80.3%
EBITDA margin %	21.7%	21.3%	25.4%	26.9%	26.5%	26.9%	29.1%	30.3%
EBIT margin %	15.7%	15%	19.1%	21.4%	20.8%	21.6%	24.1%	25.3%
PAT margin %	11%	12.7%	6.8%	8.8%	19.4%	19.8%	20.9%	19.7%
Working capital
Receivable days	—	105	99	99	95	85	91	97
Inventory days	—	311	378	315	360	338	348	363
Payable days	—	142	167	158	194	194	210	232
NWC days	—	274	310	255	261	229	228	228
Leverage
Current ratio	—	2.02	1.89	2.03	2	2.56	2.89	2.82
Debt to EBITDA	—	1.08	0.41	0.09	0.53	0.22	0.12	0.23
Debt to equity	—	0.17	0.08	0.02	0.11	0.04	0.03	0.05
Interest coverage	10	18.4	51.2	72	56.7	49.6	63.4	49.5
Asset turnover	—	0.48	0.5	0.55	0.54	0.57	0.57	0.54
Return ratios
Return on assets %	—	6.1%	3.4%	4.9%	10.5%	11.2%	11.9%	10.6%
Return on capital employed %	—	10.6%	13.9%	17.6%	17.2%	18.3%	20.6%	20.9%
Return on equity %	—	9.2%	4.9%	7.1%	15.2%	15.1%	15.2%	13.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	54.48%	54.48%	54.48%	54.48%	54.48%	54.48%	54.48%	54.48%	54.48%	54.48%	54.48%	54.48%
	16.79%	17.07%	17.72%	17.23%	18.02%	18.05%	17.96%	17.26%	16.55%	16.12%	15.93%	14.53%
	19.67%	19.52%	18.83%	19.28%	18.61%	18.55%	18.7%	19.5%	20.12%	20.71%	21%	22.07%
	0%	0%	0%	0%	0%	0%	0%	0%	0.11%	0.11%	0.11%	0.11%
	9.06%	8.93%	8.97%	9.01%	8.89%	8.92%	8.86%	8.76%	8.74%	8.58%	8.48%	8.81%
No. of shareholders	—	—	—	—	—	—	—	—	7,43,877	7,10,900	6,90,957	7,10,246

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹1,816.6 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹1,831.9	-37.5	-2%	₹1,831.9	42,841	+492	4,094	350
23 Nov 2026	₹1,839.7	-38.3	-2%	₹1,839.7	3,045	+176	280	350
29 Dec 2026	₹1,892.7	0	0%	₹1,845.3	0	0	0	350

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

257

across 21 fund houses

Held by these funds

8.17%

of the company's equity

All mutual funds

12.84%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

257 schemes · 21 fund houses

		Shares
Nifty 50 ETF	SBI Mutual Fund	2.05 Cr	4,076.55	1.91%	0.856%	+1.08 L
BSE Sensex ETF	SBI Mutual Fund	1.44 Cr	2,823.56	2.32%	0.601%	+1.43 L
Value Fund	ICICI Prudential Mutual Fund	1.38 Cr	2,733.05	4.55%	0.574%	-0
Large Cap Fund	ICICI Prudential Mutual Fund	90.69 L	1,799.97	2.24%	0.378%	-0
ETF NIFTY 50 BEES	Nippon India Mutual Fund	64.45 L	1,279.29	1.91%	0.269%	+1.3 L
LARGE CAP FUND	Nippon India Mutual Fund	61.54 L	1,221.51	2.26%	0.256%	-3.86 L
Portfolio of Kotak Flexi Cap FundNEW	Kotak Mahindra Mutual Fund	60 L	1,190.88	2.11%	0.25%	—
PHARMA FUND	Nippon India Mutual Fund	59.06 L	1,172.29	12.37%	0.246%	-3 L

1–8 of 257

1 / 33

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

May 2026Transcript AI Summary PPTREC
Feb 2026Transcript AI SummaryPPTREC

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

34 announcementsExport CSV

1 Oct 2026, 6:51 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Notice of Postal Ballot

Postal Ballot PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	72.9%	71.9%	74.1%	73.2%	75.7%	78%	79.6%	80.3%
EBITDA margin %	21.7%	21.3%	25.4%	26.9%	26.5%	26.9%	29.1%	30.3%
EBIT margin %	15.7%	15%	19.1%	21.4%	20.8%	21.6%	24.1%	25.3%
PAT margin %	11%	12.7%	6.8%	8.8%	19.4%	19.8%	20.9%	19.7%
Working capital
Receivable days	—	105	99	99	95	85	91	97
Inventory days	—	311	378	315	360	338	348	363
Payable days	—	142	167	158	194	194	210	232
NWC days	—	274	310	255	261	229	228	228
Leverage
Current ratio	—	2.02	1.89	2.03	2	2.56	2.89	2.82
Debt to EBITDA	—	1.08	0.41	0.09	0.53	0.22	0.12	0.23
Debt to equity	—	0.17	0.08	0.02	0.11	0.04	0.03	0.05
Interest coverage	10	18.4	51.2	72	56.7	49.6	63.4	49.5
Asset turnover	—	0.48	0.5	0.55	0.54	0.57	0.57	0.54
Return ratios
Return on assets %	—	6.1%	3.4%	4.9%	10.5%	11.2%	11.9%	10.6%
Return on capital employed %	—	10.6%	13.9%	17.6%	17.2%	18.3%	20.6%	20.9%
Return on equity %	—	9.2%	4.9%	7.1%	15.2%	15.1%	15.2%	13.8%

56 deals · 31 Aug 2021 – 24 Jun 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
24 Jun 2026	THE MTBJ LTD. AS TRST FOR GOVRNMNT PENSION INVSTMNT FUND MTBJ400045828	Block	NSE	Sell	1,54,424	₹1,868.00	₹28.85 Cr
24 Jun 2026	THE MTBJ LTD. AS TRST FOR GOVRNMNT PENSION INVSTMNT FUND MUTB400045794	Block	NSE	Buy	1,54,424	₹1,868.00	₹28.85 Cr
18 Nov 2025	RELIANCE TRUST INSTITUTIONAL RETIREMENT TRUST SERIES TWELVE	Block	NSE	Sell	14,46,414	₹1,763.90	₹255.13 Cr
18 Nov 2025	GQG PARTNERS EMERGING MARKETS EQUITY CIT	Block	NSE	Buy	14,46,414	₹1,763.90	₹255.13 Cr
9 Oct 2025	GOLDMAN SACHS (SINGAPORE) PTE - ODI	Block	NSE	Sell	1,48,233	₹1,631.60	₹24.19 Cr
9 Oct 2025	GOLDMAN SACHS BANK EUROPE SE - ODI	Block	NSE	Buy	1,48,233	₹1,631.60	₹24.19 Cr
14 Jul 2025	THE MTBJ LTD. AS TRST FOR GOVRNMNT PENSION INVSTMNT FUND MTBJ400045828	Block	NSE	Sell	3,09,391	₹1,672.00	₹51.73 Cr
14 Jul 2025	THE MTBJ LTD.AS TRST FOR GOVERNMENT PENSION INVESTMENT FUND MTBJ400045849	Block	NSE	Buy	3,09,391	₹1,672.00	₹51.73 Cr
27 Feb 2024	THE JUPITER GLOBAL FUND-JUPITER INDIA SELECT	Block	BSE	Buy	6,56,286	₹1,556.95	₹102.18 Cr
27 Feb 2024	JUPITER SOUTH ASIA INVESTMENT COMPANY LIMITED	Block	BSE	Sell	6,56,286	₹1,556.95	₹102.18 Cr

1–10 of 56

1 / 6

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

32

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
9	+7	9	₹84.1	1,760	₹12.1	759	-41	107
0	0	0	₹0.0	1,780	₹16.6	1,200	+22	1,597
379	+162	860	₹54.8	1,800	₹22.2	2,618	+226	596
250	+106	1,145	₹41.6	1,820	₹28.7	2,542	+197	387
755	+381	3,248	₹30.6	1,840	₹38.4	2,815	+115	553
1,364	+302	3,166	₹22.3	1,860	₹49.8	1,399	+24	960
529	+102	1,803	₹15.2	1,880	₹62.0	553	+62	318
1,469	+553	6,226	₹10.7	1,900	₹77.0	116	+19	380

Shaded cells are in the money against the underlying close. Green and red mark the move against the previous close — on the premium for LTP, on the position for change in OI. Settlement prices are the exchange's, not the last trade.

Date	Category	Subject	Filing
1 Oct 2026, 6:51 pm	AGM/EGM Postal Ballot	Shareholder Meeting / Postal Ballot-Notice of Postal Ballot	PDF
1 Oct 2026, 5:46 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
30 Sept 2026, 5:45 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
29 Sept 2026, 7:22 pm	Company Update General	ESG Overview For FY 2025-26	PDF
28 Sept 2026, 8:05 pm	Company Update General	Completion And Result Of Postal Ballot Dated 25 August 2026	PDF
28 Sept 2026, 8:20 am	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
22 Sept 2026, 7:33 pm	Company Update Investor Presentation	Announcement under Regulation 30 (LODR)-Investor Presentation	PDF
11 Sept 2026, 7:57 pm	Company Update General	Intimation Under Regulation 30 Of SEBI LODR	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	6,686	7,082	3,907	2,196	6,555	6,170	8,985	4,959	12,135	14,072	12,419
	-4,372	-4,222	-3,371	-681	-2,589	536	-5,725	-7,944	-690	-5,306	-11,344
	-1,889	-2,285	-1,539	-2,731	-5,715	-5,980	-5,193	2,376	-6,710	-7,906	-2,513
Net cash flow	426	575	-1,003	-1,215	-1,749	726	-1,934	-608	4,735	860	-1,437
Free cash flow	6,686	7,082	3,907	2,196	5,013	5,000	7,490	2,874	9,933	11,944	8,810
CFO / Operating profit %	—	—	69.7%	34.8%	93.8%	72.7%	86.4%	42.6%	93.2%	92.1%	70%

Sun Pharmaceutical Industries

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

3

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Announcements

3

26

1

1

32

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Sun Pharmaceutical Industries

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Futures3

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Announcements

Ratio timeline

Quarterly record

Futures3

Dividends26

Board meetings1

Stock splits1

Bulk & block deals

Board and management

Option chain32

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

3

3

26

1

1

32