Sales of formulations in India for Q4 FY23 were at Rs 3,364.1 crore, up 8.7% over Q4 last year. India formulation sales accounted for about 31% of total consolidated sales.
US formulation sales were $ 430 million for Q4 FY23, a growth of 10.5% over Q4 last year and accounted for about 33% of total consolidated sales for the quarter
Taro posted Q4FY23 sales of $147 million, up by 2.3% YoY and net profit of about US$ 6.9 million, lower by 74.7% over adjusted net profit of Q4 last year.
Formulation sales in Emerging Markets sales were $ 221 million for Q4 FY23, a growth of 7.5% over Q4 last year and accounted for about 17% of total consolidated sales for the quarter.
Formulation sales rest of the world (RoW) market sales were $191 million for Q4FY23, a growth of 7.4% over Q4 last year and accounted for approximately 14.7% of total consolidated sales for the quarter.
For Q4 FY23, external sales of API were at Rs 385.2 crore for Q4FY23, lower by about 6.9% over Q4 last year. The company's API business imparts benefits of vertical integration and continuity of supply chain for its formulations business.
Consolidated R&D investment for Q4FY23 was at Rs 665.66 crore as compared to Rs 543.29 crore for Q3 last year.
EBITDA was at Rs 2,802.1 crore, up 19.7% YoY. EBITDA margin for Q4 at 25.6% as against 24.8% for Q3 last year.
On full year basis, the company's consolidated net profit of Rs surged 179.93% to Rs 10,503.4 crore in FY23 as compared with Rs 3752.1 crore in FY22. Net sales jumped 13.53% year on year to Rs 43,885.6 crore in FY23.
Dilip Shanghvi, managing director of the company, said, “I am pleased with well-rounded growth demonstrated in FY23 by the company. Several of our businesses including Specialty, India and Emerging markets have continued to progress well. Our Specialty business remains on growth path and we are committed to continue scaling it up. Acquisition of Concert helps further strengthen our portfolio in dermatology. I believe deuruxolitinib can become a leading product to address highly unmet need in alopecia areata patients.”
Meanwhile, the board has recommended a dividend of Rs 4 per equity share for FY23, subject to approval of shareholders.
Sun Pharmaceuticals Industries is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.