Sun Pharma anticipates high single-digit top line growth in current fiscal: Dilip Shanghvi

Written by Ruchika Sharma Published On 2024-06-03T11:53:13+05:30 | Updated On 3 Jun 2024 11:53 AM IST

Sun Pharma anticipates high single-digit top line growth in current fiscal: Dilip Shanghvi

New Delhi: Sun Pharmaceutical Industries, a leading pharmaceutical company, anticipates achieving a robust single-digit top line increase in revenue for the current fiscal, as stated by Managing Director Dilip Shanghvi.

In FY24, the Mumbai-headquartered company disclosed a consolidated total revenue from operations at Rs 48,497 crore, compared to Rs 43,886 crore in FY23.

"We expect high single-digit consolidated top line growth for FY25. All our businesses are positioned for growth," Shanghvi said in an analyst call.

As per PTI, he noted that in the current fiscal, the drug firm will be in the investment phase for its several businesses.

"This includes, but not limited to, product launch costs in the US as the ramp-up of our global specialty business is expected to continue," Shanghvi said.

He noted that R&D investments will be 8-10 per cent of sales during the year.

Replying to a separate query, Shanghvi said, "We have to continue to invest for the future. And our effort would be that while we are creating that investment for future, we don't do it at the cost of profitability."

He further said, "But even if it does require some increased investment, we would do that because ultimately, our focus is on building a business which is strong long term."

As per AIOCD AWACS MAT March 2024 report, Sun Pharma is ranked number one and holds an 8.5 per cent market share in the over Rs 1,970-billion Indian pharmaceutical market.

For the fiscal ended March 31, 2024, the company reported a consolidated net profit of Rs 9,576 crore. It stood at Rs 8,474 crore in the 2022-23 fiscal

Sun Pharma is an Indian multinational pharmaceutical company headquartered in Mumbai, Maharashtra. The company manufactures and markets a large basket of pharmaceutical formulations covering a broad spectrum of chronic and acute therapies. It includes generics, branded generics, specialty, complex or difficult-to-make technology-intensive products, over-the-counter (OTC), antiretrovirals (ARVs), Active Pharmaceutical Ingredients (APIs), and Intermediates.

sun pharmasun pharma newsDilip Shanghvi

Source : with inputs

Ruchika Sharma

Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751