Sun Pharma Q3 Results Review - Inline Performance; Growth Levers In Place: Systematix

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Systematix Research Report.Sun Pharmaceutical Industries Ltd.’s Q3 FY23 earnings at Rs 21,660 million was in line with our/consensus estimates. Despite the impact of Halol import alert, the U.S. business grew 5% QoQ led by growth in specialty assets – Levulan, Ilumya, Winlevi and Cequa. While Winlevi volumes declined QoQ, there was value growth as realisations improved during the quarter. However, the India business delivered sluggish growth of 7% YoY, as Sun Pharma was impacted by price cuts taken on two in-licensed products which went off patent and poor performance in the Gastro-Intestinal business unit. Higher research and development expenses, depreciation and other operational costs plugged margin expansion during the quarter. There were also one off costs related to Halol import alert during the quarter. Tax rate for the quarter (11%) was higher compared to H1 FY23 (7%). We remain positive on the long-term prospects of the company..Click on the attachment to read the full report:.Sun Pharma Q3 Results: Profit Rises In Line With Estimates.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Sun Pharma Q3 Results Review - Inline Performance; Growth Levers In Place: Systematix

Despite the impact of Halol import alert, the U.S. business grew 5% QoQ led by growth in specialty assets.

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