Sun Pharma expects high single-digit top line growth in current fiscal

Drug major Sun Pharmaceutical Industries expects a high single-digit top line growth in the current fiscal, according to Managing Director Dilip Shanghvi.

The Mumbai-based firm reported a consolidated total revenue from operations at Rs 48,497 crore for FY24.

The number stood at 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. 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.