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India's largest pharmaceutical company, making generic and specialty drugs sold in over 100 countries.
India's largest pharmaceutical company, making generic and specialty drugs sold in over 100 countries.
Earns from branded generics sold to Indian doctors and pharmacies, its home business, and from the US, where it sells generics and, increasingly, its own specialty brands; India and the US are its two biggest markets. The Shanghvi family controls it. The 2015 purchase of Ranbaxy and later full ownership of Israel's Taro Pharmaceutical widened its range.
In one line: India's Teva Pharmaceutical, with a growing US specialty arm.
Moat: narrow (scale, IP / patents, regulatory licence). Global manufacturing scale plus a growing patented specialty pipeline differentiate it from pure generic peers.
Headquarters: Mumbai, India · Founded: 1983 · Employees: 28,925
Size Sun Pharmaceutical Industries (SUNPHARMA.NS) is an India Health Care company (Pharmaceuticals: Major) with a market value of $47.3B, the 14th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,860 on 6 Nov 2026.
Performance Over six months the shares gained 1.4%, against +18.0% for the median peer and 0.0% for the India market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 12.1% over the last twelve months (peer median +11.3%); the operating margin is 23.2% (peer median 19.1%).
Valuation It trades at 35.4× forward earnings against a peer median of 19.5× (5th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 28% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is +17 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.8 points above its cost of capital (13.2% WACC).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹616B | ₹583B | ₹522B | ₹479B | ₹439B |
| Revenue growth | — | +12% | +9% | +9% | — |
| Gross profit | ₹345B | ₹310B | ₹284B | ₹241B | ₹200B |
| EBITDA | ₹173B | ₹174B | ₹150B | ₹121B | ₹116B |
| Net income | ₹110B | ₹115B | ₹109B | ₹95.8B | ₹84.7B |
| Free cash flow | n/a | ₹92.4B | ₹126B | ₹104B | ₹32.2B |
| Capital expenditure | n/a | ₹36.1B | ₹21.3B | ₹22.0B | ₹20.9B |
| Total debt | ₹32.4B | ₹46.3B | ₹23.6B | ₹32.7B | ₹68.9B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Sun Pharmaceutical Industries SUNPHARMA.NS | $47.3B | +1% | +12% | 23% | 35.4× | 28.4% |
| Dr. Reddy's Laboratories DRREDDY.NS | $12.1B | +5% | -4% | 9% | 31.8× | 30.1% |
| Cipla CIPLA.NS | $12.1B | +4% | -1% | 13% | 29.0× | 28.2% |
| Teva Pharmaceutical Industries Limited Sponsored ADR TEVA | $49.7B | +19% | -4% | 19% | 15.1× | 10.2% |
| Viatris VTRS | $22.9B | +17% | +5% | 10% | 7.5× | 12.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SUNPHARMA.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.4% | +10.7% | 6th lowest of 21 |
| 6-month return | +1.4% | +18.0% | 7th lowest of 21 |
| Distance from 52-week high | -9.1% | -9.8% | 10th highest of 21 |
| Revenue growth (TTM) | +12.1% | +11.3% | 10th highest of 21 |
| Operating margin | 23.2% | 19.1% | 10th highest of 21 |
| Forward P/E | 35.4× | 19.5× | 5th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 28.4% | 7.8% | 2nd most demanding of 19 |
| Growth delivered (Del g) | +11.7% | +7.2% | 4th highest of 19 |
| Hurdle (Req g minus delivered) | +16.7 pp | -0.9 pp | 2nd most demanding of 19 |
| ROIC minus cost of capital | +4.8 pp | +4.0 pp | 10th highest of 21 |
| EV / EBITDA | 24.1× | 13.3× | 6th most expensive of 17 |
| Net debt / EBITDA | -1.8× | 1.5× | 3rd least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sun Pharmaceutical Industries SUNPHARMA.NS | India | $47.3B | +1% | +12% | 23% | 35.4× | 28.4% | +11.7% |
| Jiangsu Hengrui Pharmaceuticals 1276.HK | Hong Kong | $48.8B | -20% | +11% | 27% | 32.1× | 10.2% | +2.0% |
| BeOne Medicines 688235.SS | China | $45.8B | +19% | +28% | 15% | 74.5× | 23.3% | +79.3% |
| Sandoz SDZ.SW | Switzerland | $44.4B | +24% | +1% | 15% | 25.3× | 7.9% | +0.4% |
| Galderma GALD.SW | Switzerland | $54.8B | +17% | +16% | 19% | 48.1× | 18.4% | +6.4% |
| Haleon HLN.L | United Kingdom | $40.1B | +1% | +1% | 23% | 16.3× | 4.6% | +2.2% |
| Royalty Pharma RPRX | United States | $38.8B | +33% | +11% | 66% | 11.3× | 9.9% | +2.3% |
| Otsuka Hldgs 4578.T | Japan | $38.6B | +2% | +11% | 18% | 16.3× | 0.4% | +11.7% |
| Biogen BIIB | United States | $36.7B | +28% | +2% | 17% | 16.8× | 9.4% | -5.1% |
| Bayer BAYN.DE | Germany | $61.2B | +46% | -2% | 14% | 12.3× | 2.1% | +1.9% |
| Wuxi Apptec 2359.HK | Hong Kong | $66.3B | +40% | +38% | 44% | 20.4× | 8.7% | +20.4% |
| Takeda Pharmaceutical 4502.T | Japan | $66.4B | +24% | +6% | 18% | 42.1× | 3.0% | +7.1% |
| Zoetis ZTS | United States | $32.8B | -4% | +1% | 38% | 12.8× | -4.3% | +7.2% |
| Daiichi Sankyo 4568.T | Japan | $31.9B | +7% | +17% | 13% | 18.6× | 7.2% | +17.1% |
| Chugai Pharmaceutical 4519.T | Japan | $71.0B | -15% | +17% | 50% | 22.1× | 3.6% | +9.8% |
| Merck KGaA MRK.DE | Germany | $72.5B | +23% | 0% | 20% | 17.5× | 7.7% | +3.8% |
| Divi's Laboratories DIVISLAB.NS | India | $29.0B | +54% | +16% | 31% | 82.0× | 50.9% | +8.9% |
| Astellas Pharma 4503.T | Japan | $28.2B | +11% | +19% | 23% | 11.6× | -11.0% | +11.4% |
| Roivant Sciences ROIV | United States | $28.1B | +36% | -68% | -18,146% | n/a | n/a | n/a |
| Hansoh Pharma 3692.HK | Hong Kong | $26.9B | -7% | +25% | 38% | 27.5× | 8.9% | +10.8% |
| Insmed INSM | United States | $25.1B | -16% | +240% | -42% | n/a | n/a | n/a |