Sun Pharmaceutical Industries Limited · NSE:SUNPHARMA
Sun Pharmaceutical Industries — Investor Presentation (September 2025)
62 slides from Sun Pharmaceutical Industries's investor presentation, Sep 1, 2025
Slide 1: Exchange filing cover letter - Investor Presentation
Sun Pharmaceutical Industries Limited SUN HOUSE, Plot No. 201 B/1, Western Express Highway, Goregaon (E), Mumbai 400063, India Tel.: (91-22) 4324 4324 Fax.: (91-22) 4324 4343 Website: www.sunpharma.com Email: secretarial@sunpharma.com CIN: L24230GJ1993PLC019050 01 September 2025 National Stock Excha
Slide 2: Creating Lasting Value - Investor Presentation August 2025
Creating Lasting Value Investor Presentation – August 2025 NSE:SUNPHARMA | BSE:524715 | Bloomberg:SUNP IN | Reuters:SUN.BO WWW.SUNPHARMA.COM
Slide 3: Disclaimer
Disclaimer Except for the historical information contained herein, statements in this presentation and the subsequent discussions, which include words or phrases such as “will”, “aim”, “will likely result”, “would”, “believe”, “may”, “expect”, “will continue”, “anticipate”, “estimate”, “intend”, “pl
Slide 4: Sun Pharma - contents
Sun Pharma 1 Revenue composition and growth highlights 2 Business operations 3 R&D & Manufacturing 4 Corporate Governance 5 Key Financials 6 Company history and key deals 7 Focus areas © Sun Pharmaceutical Industries Limited. All Rights Reserved. 3
Slide 5: Sun Pharma at a glance
Sun Pharma at a glance Leading global specialty generic company Global presence Operates in over 100 countries Diversified business Innovative Medicines, branded generics, generics & APIs Innovative Medicines Fast growing. Focused therapy approach. US Generics 12th largest in US generics market## In
Slide 6: A diversified revenue base
A diversified revenue base Emerging Markets Rest of World (RoW)# Formulations Formulations 18% 14% API & Others 4% FY25 Sales Rs 520 Bn India Formulations 33% US Formulations 31% # Includes Western Europe, Canada, Japan, Australia & New Zealand, Israel and other markets. © Sun Pharmaceutical Industr
Slide 7: Impressive track record of growth
Impressive track record of growth (All Figures in Rs Bn) CAGR for FY10-FY25 520 153 120 323 272 79 Adjusted 70 Sales EBITDA 48 Net Profit 40 CAGR CAGR CAGR 40 19% 14 18% 14 16% FY10 FY15 FY20 FY25 FY10 FY15 FY20 FY25 FY10 FY15 FY20 FY25 141 50 119 Adjusted 66 Operating Free Cash EPS 56 20 Cash Flow
Slide 8: Strong profitability and return ratios
Strong profitability and return ratios Adjusted Net Profit Gross Margin # EBITDA Margin Margin 22.8% 79.3% 29.0% 20.8% 77.7% 19.8% 19.7% 75.4% 73.1% 26.9% 26.9% 26.5% FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 ROCE ROE Market Cap (USD Bn) 20.4% 17.4% 49.2 47.0 18.2% 16.7% 16.4% 16.5
Slide 9: Best-in-class profitability
Best-in-class profitability Sun Pharma Range of Top 9 Indian Pharma Cos. Average Gross Margin EBITDA Margin Adjusted Net Profit Margin 79% 78% 75% 73% 29% 68% 27% 27% 27% 66% 64% 21% 23% 63% 20% 20% 26% 23% 25% 21% 16% 18% 16% 13% FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Gross mar
Slide 10: Business operations
Business operations © Sun Pharmaceutical Industries Limited. All Rights Reserved. 9
Slide 11: Snapshot of business operations
Snapshot of business operations US Formulations India Formulations ⚫ FY25 sales: Rs 162,403 mn ⚫ FY25 sales: Rs 169,230 mn ⚫ Innovative Medicines & Generics. Over 590 approved ⚫ Largest pharma company in India with 8.3% market products share ⚫ Large part of Innovative Medicines sales in the US. ⚫ No
Slide 12: Driving sustainable long term growth
Driving sustainable long term growth • Achieve critical mass in key markets • Increase contribution of • Embed sustainability practices in Innovative and complex products business • Direct future investments • Actionable targets on sustainability towards differentiated products profitability & inves
Slide 13: ESG Performance - FY 2023-24
ESG Performance - FY 2023-24 Environmental Social Governance Energy Employee wellbeing Corporate Governance • ~38% Energy sourced from • Great Place To Work® Certified • 98.2% Average Board meeting renewable sources • 8.282 new hires attendance • 18% reduction in absolute Scope 1 • 18.10% gender div
Slide 14: Innovative Medicines
Innovative Medicines © Sun Pharmaceutical Industries Limited. All Rights Reserved. 13
Slide 15: Innovative Medicines highlights
Innovative Medicines highlights Building a Innovative Medicines business in select therapy areas Marketed products in Dermatology, Ophthalmology and Onco Focused approach Dermatology Key growth driver 20% of sales in FY25 vs 7.3% of sales in FY18 Wide portfolio 27 products marketed globally US marke
Slide 16: Innovative Medicines portfolio
Innovative Medicines portfolio For treatment of adults with moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy • Long term clinical data shows that the significant response rate seen in 52 & 64 weeks were maintained over five years1 • Completed Phase-3 trials
Slide 17: Innovative Medicines portfolio
Innovative Medicines portfolio Treatment of adult patients with locally advanced basal cell carcinoma (BCC) that has recurred following surgery or radiation therapy, or those who are not candidates for surgery or radiation therapy. • ODOMZO was shown to shrink laBCC in almost 6 out of 10 patients (5
Slide 18: Innovative Medicines portfolio
Innovative Medicines portfolio In combination with methylprednisolone for the treatment of patients with metastatic castration-resistant prostate cancer (CRPC). • YONSA® was shown in clinical studies to be an effective form of abiraterone acetate, and can be taken with or without food, in combinatio
Slide 19: Innovative Medicines pipeline
Innovative Medicines pipeline Candidate Mechanism Indication Pre- Phase 1 Phase 2 Phase 3 Registration of Action clinical metastatic cutaneous squamous Unloxcyt anti-PD-L1 cell carcinoma (cSCC) or locally advanced cSCC melanoma & non- melanoma Nidlegy™ Immunocytokines skin cancers Ilumya IL-23 Antag
Slide 20: Innovative Medicines Sales
Innovative Medicines Sales Innovative Medicines Sales (USD mn) 485 674 871 1,039 1,216 • US is the major contributor to Innovative Medicines revenues • Global sales have grown by 23% CAGR since FY20 19.8 18.0 • Largest product Ilumya reported 16.2 sales of $681 Mn in FY25 13.1 10.8 • 27 Innovative M
Slide 21: US Business
US Business 31% of FY25 Revenues © Sun Pharmaceutical Industries Limited. All Rights Reserved. 20
Slide 22: US highlights
US highlights Sizeable innovative portfolio/12th largest in US Generics* Dermatology segment Ranked 2nd by prescriptions## in the US dermatology market Wide basket of 661 ANDAs & 70 NDAs filed and 542 ANDAs & 57 Comprehensive portfolio** NDAs approved across multiple therapies Robust pipeline** 119
Slide 23: Milestones in the US business
Milestones in the US business • Acquired Checkpoint Therapeutics, Inc., an immunotherapy and targeted oncology FY25 company FY24 • Acquired outstanding shares of Taro, now a 100% subsidiary of Sun • Acquired Concert Pharma giving access to deuruxolitinib for alopecia areata FY23 • Launched Sezaby in
Slide 24: US business: revenue progression
US business: revenue progression Sales in Rs Bn 162 153 135 114 101 FY21 FY22 FY23 FY24 FY25 23
Slide 25: ANDA & NDA pipeline
ANDA & NDA pipeline ANDAs filed and approved (cumulative) NDA filed and approved (cumulative) 659 661 635 605 616 531 542 542 512 519 70 70 67 67 65 57 57 54 54 51 FY22 FY23 FY24 FY25 Q1FY26 FY22 FY23 FY24 FY25 Q1FY26 Cumulative products filed Cumulative products filed Cumulative products approved C
Slide 26: India Business
India Business 33% of FY25 Revenues © Sun Pharmaceutical Industries Limited. All Rights Reserved. 25
Slide 27: India highlights
India highlights Largest Pharma company in India Pharma market Market position** Largest Pharma company in India with 8.3% market share Prescription ranking## Ranked No. 1 by prescriptions with 13 classes of prescribers Chronic segment Market leader in the chronic segment Acute segment Strong positi
Slide 28: Largest Pharma company in India
Largest Pharma company in India Market Share Formulation sales in India as of 12 months ended June 2025 (Rs mn) 191,980 Sun Pharma 8.3% 135,410 Abbott + Abbott HC + Novo 5.9% 131,140 Mankind 5.7% 118,600 Cipla 5.2% 93,970 Alkem + Cachet + Indchemie 4.1% 88,470 Intas 3.8% 83,700 Torrent 3.6% 79,640 L
Slide 29: India: revenue progression
India: revenue progression Sales in Rs Bn Therapeutic breadth** Others Urology 3% 3% 169 Opthalmology Neuro-Psychiatry 3% 20% 149 Gynaecology 4% 136 Dermatology 128 4% Vitamins / Minerals / Nutrients 103 5% Market Share Cardiology Respiratory 8.3% 17% 5% Anti-Infectives 6% Pain / Analgesics 7% Gastr
Slide 30: Leadership across therapeutic areas
Leadership across therapeutic areas* Number 1 Ranking with 13 Doctor Categories* Prescription Ranking Specialist June ‘22 June ‘23 June ‘24 June ‘25 Psychiatrists 1 1 1 1 Neurologists 1 1 1 1 Cardiologists 1 1 1 1 Gastroenterologists 1 1 1 1 Diabetologists 1 1 1 1 Consulting Physicians 1 1 1 1 Derma
Slide 31: India: Best-in-class field force productivity
India: Best-in-class field force productivity Sales per medical representative (Rs mn) 10,963 11,149 12,692 13,984 15,109 • Well trained and scientifically oriented sales representatives team with strong performance 11.4 track record 11.2 10.7 10.6 9.4 • Highest field force productivity amongst key
Slide 32: Emerging Markets
Emerging Markets 18% of FY25 Revenues © Sun Pharmaceutical Industries Limited. All Rights Reserved. 31
Slide 33: Emerging Markets highlights
Emerging Markets highlights Leading Indian company in Emerging Markets Global footprint Presence in over 80 countries Focus markets Romania, Russia, South Africa, Brazil, Mexico Product portfolio Extensive basket of branded generics Customer focus Strong relationships with prescribers Sales force Ov
Slide 34: Rest of World (Western Europe, Canada, Japan, ANZ, Israel & other markets)
Rest of World (Western Europe, Canada, Japan, ANZ, Israel & other markets) 14% of FY25 Revenues © Sun Pharmaceutical Industries Limited. All Rights Reserved. 33
Slide 35: Rest of World highlights
Rest of World highlights Amongst the leading Indian companies Market presence Western Europe, Canada, A&NZ, Japan, Israel and others Expanding basket includes innovative medicines, hospital & retail Product portfolio products Focus Development and commercialization of differentiated products • Distr
Slide 36: Global Consumer Healthcare
Global Consumer Healthcare 35
Slide 37: Global Consumer Healthcare highlights
Global Consumer Healthcare highlights An attractive opportunity India Amongst the leading consumer healthcare companies Global presence Presence in over 25+ countries India, Romania, South Africa, Nigeria, Myanmar, Ukraine, Poland, Markets of presence Thailand, Belarus, Kazakhstan, Nepal, Morocco, U
Slide 38: Active Pharmaceutical Ingredients (API)
Active Pharmaceutical Ingredients (API) 4% of FY25 Revenues © Sun Pharmaceutical Industries Limited. All Rights Reserved. 37
Slide 39: API highlights
API highlights Backward integration has strategic importance Backward integration provides cost competitiveness and supply Strategic importance reliability Customers Large generic and innovator companies Product portfolio Approximately 400+ APIs Pipeline development 10-20 APIs scaled up annually Reg
Slide 40: Research & Development
Research & Development © Sun Pharmaceutical Industries Limited. All Rights Reserved. 39
Slide 41: Research & Development
Research & Development Cumulative R&D spend of ~Rs 300 Bn to date R&D spend R&D spend at 6.2% of sales for FY25 Innovative Medicines R&D Global development capabilities incl. clinical trials Finished dosage development, biological support, chemistry and Generic capabilities new drug development Orga
Slide 42: R&D investments
R&D investments R&D investments Filings and approvals 6.5% 5.8% 5.5% 6.7% 6.2% ANDA NDA/BLA DMF/CEP Patents** 32.5 661 532 3,241 31.8 70 542 402 23.7 57 2,481 21.5 22.2 FY21 FY22 FY23 FY24 FY25 Filed Approved Filed Approved Filed Approved Filed Granted ** Excludes expired/abandoned patents R&D inves
Slide 43: Global Manufacturing
Global Manufacturing © Sun Pharmaceutical Industries Limited. All Rights Reserved. 42
Slide 44: Global Manufacturing highlights
Global Manufacturing highlights World Class manufacturing infrastructure 40 manufacturing facilities across India, the Americas, Asia, Africa, Extensive global footprint Australia and Europe Vertically integrated network across six continents enables high Integrated network quality, low cost and a q
Slide 45: Manufacturing facilities
Manufacturing facilities 40 manufacturing sites • Formulation • India: 12, US : 3 • Canada, Hungary, Israel, Bangladesh, South Africa, Malaysia, Romania, Egypt, Nigeria, Morocco and Russia: 1 each • Capacities available for a variety of finished dosages • API • India : 9, Australia : 2, Israel : 1,
Slide 46: Corporate governance
Corporate governance Sun Pharma’s Board of Directors comprises a strong and balanced leadership, with four out of eight members serving as independent directors. Lead Independent Independent Director Independent Director Independent Director Director Dr. Pawan Goenka Gautam B. Doshi Rama Bijapurkar
Slide 47: Key Financials
Key Financials © Sun Pharmaceutical Industries Limited. All Rights Reserved. 46
Slide 48: Summary Financials
Summary Financials Market capitalisation Rs 3,930 Bn / US$45 Bn (as of 14th August 2025) ( All Figures in Rs mn ) P&L Summary YoY FY21 YoY FY22 YoY FY23 YoY FY24 YoY FY25 YoY Sales 332,331 3% 384,264 16% 432,789 13% 477,585 10% 520,412 9% Gross Profit 245,430 6% 280,749 14% 326,167 16% 370,958 14% 4
Slide 49: Sales split
Sales split In Rs Bn Sales 332 384 433 478 520 23 22 72 22 67 21 60 94 55 86 21 79 49 67 162 58 153 135 114 101 149 169 128 136 103 FY21 FY22 FY23 FY24 FY25 India Formulations US Formulations Emerging Markets Rest of World API+Others © Sun Pharmaceutical Industries Limited. All Rights Reserved. 48
Slide 50: EBITDA trend
EBITDA trend In Rs Bn Sales 332 384 433 478 520 % of Sales 22.3% 20.7% 26.1% 26.9% 24.6% 19.7% 19.2% 19.2% 20.6% 19.0% 32.3% 32.2% 28.0% 30.4% 28.5% 25.3% 26.9% 26.5% 26.9% 29.0% FY21 FY22 FY23 FY24 FY25 EBITDA Other Expenditure Personnel Costs Material Costs © Sun Pharmaceutical Industries Limited.
Slide 51: Cash Flow & debt
Cash Flow & debt Net Cash from Operating Activities (Rs Bn) Free Cash Flow (Rs Bn) 140.7 119.4 121.4 99.3 89.8 74.9 61.7 50.0 49.6 28.7 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 Gross Debt (Rs Bn) Net Cash (excluding debt) (Rs Bn) 267.9 62.0 199.8 149.4 35.2 123.8 28.5 103.0 18.7 9.3 FY21 FY
Slide 52: Financial ratios
Financial ratios FY21 FY22 FY23 FY24 FY25 Growth (%) Sales 2.8 15.6 12.6 10.4 9.0 Gross Profit 6.3 14.4 16.2 13.7 11.3 EBITDA 21.5 22.5 12.0 11.8 17.3 Net Profit (22.9) 12.7 158.9 13.0 14.1 # # # # # Net Profit (Adjusted) 47.4 29.3 12.8 16.5 19.0 Margins (%) Gross Margin 73.9 73.1 75.4 77.7 79.3 EBI
Slide 53: Key Financials Q1 FY26
Key Financials Q1 FY26 ( All Figures in Rs mn ) Q1 FY26 Q1 FY25 CHANGE FY25 FY24 CHANGE Gross Sales 137,861 125,245 10.1% 520,413 477,585 9.0% Revenue from operation 138,514 126,528 9.5% 525,784 484,969 8.4% Gross Profit 109,713 98,491 11.4% 412,939 370,958 11.3% Gross Margin 79.6% 78.6% 77.7% 75.4%
Slide 54: Sales split Q1 FY26
Sales split Q1 FY26 ( All Figures in Rs mn ) Q1 FY26 Q1 FY25 CHANGE FY25 FY24 CHANGE Formulation India 47,211 41,445 13.9% 169,230 148,893 13.7% US 40,452 38,894 4.0% 162,403 153,493 5.8% Emerging Markets 25,531 23,695 7.7% 94,160 86,195 9.2% ROW # 18,736 15,814 18.5% 71,626 67,128 6.7% Sub-total 13
Slide 55: Company history and key deals
Company history and key deals © Sun Pharmaceutical Industries Limited. All Rights Reserved. 54
Slide 56: Creating a global company over time
Creating a global company over time 1983 1994 2010 2012 2013 Acquired Dusa Began with 5 Acquired URL IPO – Rs 550 Mn Acquired Pharma products Taro raised 2019 2018 2016 2015 2014 Acquired Global Agreement with rights for Acquired Acquired Acquired InSite Merck for in- Cequa & Ranbaxy Acquired Pola B
Slide 57: Key deals & rationale
Key deals & rationale Year Deals Country Rationale First and only US FDA-approved anti-PD-L1 treatment 2025 Checkpoint Therapeutics Inc. Global for metastatic or locally advanced (cSCC) Acquired outstanding shares of Taro, now a 100% 2024 Completed Taro merger Israel subsidiary of Sun Innovative ant
Slide 58: Key deals & rationale
Key deals & rationale Year Deals Country Rationale Out-licensing agreement with AstraZeneca UK Mainland 2019 Commercialise oncology portfolio in Mainland China for ready-to-use infusion oncology products China Licensing agreement with CMS for Greater 2019 Access to Greater China market tildrakizumab
Slide 59: Sun Pharma - focus areas
Sun Pharma - focus areas • Enhance share of innovative/branded business US business • Continue to focus on complex generics and high entry barrier segments • Ensure broad product offering to customers across multiple dosage forms • Focus on productivity enhancement India • Maintain leadership positi
Slide 60: Sun Pharma - focus areas
Sun Pharma - focus areas • Unwavering focus on sustainability, built on a legacy rooted in caring for people, communities and the planet. Sustainability • Committed to governance, community upliftment, access to affordable healthcare & environment conservation • Focus on developing complex products
Slide 61: Sun Pharma at a glance
Sun Pharma at a glance Leading global specialty generic company Global presence Operates in over 100 countries Diversified business Innovative Medicines, branded generics, generics & APIs Innovative Medicines Fast growing. Focused therapy approach. US Generics 12th largest in US generics market## In
Slide 62: Thank You
For more information please contact Investors Thank You Dr. Abhishek Sharma Tel : +91 22 4324 4324, Xtn 2929 Tel Direct +91 22 4324 2929 abhi.sharma@sunpharma.com Corporate Address SUN HOUSE, Plot No. 201 B/1, Western Express Highway, Goregaon (E), Mumbai 400063 © 2017 Sun Pharmaceutical Industries
Sun Pharmaceutical Industries — Investor Presentation (September 2025) on 6ix