Sun Pharmaceutical Q2 FY27 result: Net profit declines 36% YoY; US formulation sales falls to $455 million

The drugmaker’s revenue from operations, however, grew 12% to ₹16,199 crore in the September quarter, as against ₹14,478 crore registered in the year-ago period.

Sun Pharma’s operating profit, also known as earnings before interest, taxes, depreciation, and amortisation (EBITDA), jumped 5% to ₹4,743 crore as compared to ₹4,527 crore in the corresponding quarter of the previous fiscal year.

Its EBITDA margin contracted to 29.28% in the reporting quarter from 31.27% in Q2 FY26.

The company reported sales of ₹16,100 crore in Q2 FY27, marking a growth of 11.8%. Its Global Innovative Medicines sales rose 6.9% to $356 million, accounting for 21.1% of total sales. The firm invested ₹778.4 crore in research and development (R&D), equivalent to 4.8% of sales.

India sales were seen at ₹5,552 crore, up by 17.3% and accounting for 34.5% of total consolidated sales for the quarter. For the first half of the year, sales were ₹ 11,027 crore, growing by 16.6%.

Further, for the quarter under review, Sun Pharma’s formulation sales in the US were $455 million, registering a decline of 8.2%. The US sales accounted for approximately 27% of total consolidated sales. For the first half of FY26, sales were at $882 million.

In the emerging markets segment, formulation sales stood at $350 million for Q2 FY27, rising 7.6% and accounting for 20.7% of total consolidated sales. Formulation sales in Rest of World (RoW) markets were $241 million, up 3.1% and accounted for 14.3% of total consolidated sales for the quarter.

“Our performance during the quarter was driven by strong momentum in India, Emerging Markets and Rest of World. Among key developments, Ilumya is now approved in the U.S. for the treatment of adults with active psoriatic arthritis,” said Kirti Ganorkar, Managing Director, Sun Pharma.

H1 FY27 updates

Sun Pharma posted an 11% YoY increase in sales to ₹31,283.6 crore for the first half of FY27 (H1 FY27). Its Global Innovative Medicines sales grew 9.8% to $707 million, accounting for 21.5% of total sales.

The company’s EBITDA rose 3.8% to ₹9,161.6 crore, with an EBITDA margin of 29.1%. Profit before exceptional items and tax increased 7% to ₹8,731.1 crore.

Its net profit stood at ₹4,883.3 crore, while its adjusted net profit stood at ₹6,251.5 crore, up 2.2%. The R&D investment came in at ₹1,604.8 crore, equivalent to 5.1% of sales.

For Q2 FY27, external sales of API increased 14% to ₹489 crore. For the first half, API sales were ₹1,086 crore, up 12%. Sun Pharma said its API portfolio supports formulation business and API customers across geographies.

During the quarter, the pharma company filed 4 ANDAs and received approval for 3 ANDAs. Sun’s portfolio includes 58 approved NDAs, while 12 NDAs await US FDA approval.

Following the earnings, shares of Sun Pharma were trading at ₹1,827.70 apiece on the National Stock Exchange, rising 3.79%.

As of October 30, 2026, the pharma major has a market capitalisation of ₹4.40 lakh crore, NSE data showed.