Sun Pharma Q2 Review: Systematix Maintains 'Buy' Post Inline Results — Check Target Price

Sun Pharma is ranked number one and holds 8.3% market share in the Indian pharmaceutical market, as per AIOCD AWACS MAT Sep-2025 report. The company launched nine new products in India during the quarter. In Q2 FY26, the company grew higher than the IPM across all major therapy areas..NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Systematix Report.Sun Pharmaceutical Industries Ltd.’s revenues (Rs 144,783 million) grew by 8.9% YoY and 4.5% QoQ and were in line with our and consensus estimates. India business, Emerging Markets and Rest of World growth was strong (11%, 16%, 23% respectively), which was offset by weakness in North America (flat YoY and up 7% QoQ). North America generics revenue was lower YoY; however, the Innovative Medicines portfolio grew over the same period. gRevlimid contribution is expected to diminish going forward. Global Innovative Medicines portfolio was up 16% YoY. Growth in the innovative portfolio should sustain/accelerate going forward, led by the ramp up of Leqselvi (deuruxolitinib) and launch of Unloxcyt (Cosibelimab). Ebitda (Rs 45,271 million; up 15% YoY and 5% QoQ) was ahead of our estimates by 3.5%. Lower other expenses aided Ebitda margin expansion (up 163 bps YoY and 21 bps QoQ). Other expenses stood at Rs 42,037 million, up 6.9% QoQ but flat YoY. We retain Buy with a target price of Rs 2,050 based on 35x FY27 earnings per share..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Sun Pharma Q2 Review: Systematix Maintains 'Buy' Post Inline Results — Check Target Price

Sun Pharma's India branded generics business recorded sales of Rs 47.3 billion, up 11% YoY and flat QoQ.

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