Sun Pharmaceutical Industries Ltd.

17/B, Mahal Industrial Estate,

Mahakali Caves Road,
ndheri !East", Mum#ai $%% %&' India
(el.) !&1*++" ,,$- -,$- .a/.) !&1*++" ,,$- -,0-
CI1) L+$+'%231&&'PLC%1&%-%
444.sun5harma.com


Re6istered 788ice ) SPRC, (andal9a, :adodara ; '&% %+%. India
Cor5orate 788ice ) cme Pla<a, ndheri ; =urla Road, ndheri !East", Mum#ai ; $%% %-&. India

FOR IMMEDIATE RELEASE

Sun Pharma reports a strong quarter
Q4FY14: Net Sales Rs. 4,044 crores, up 32%, Net Profit Rs. 1,58 crores, up 5%
FY14: Net Sales Rs. 16,004 crores, up 42%, Adjusted Net Profit Rs. 5,722 crores, up 60%

!u"#ai, !a$ 2%, 2014: Su& P'ar"aceutical (&)ustries *t). +Reuters: S,N.-., -loo"#er/: S,NP (N,
NS0: S,NP12R!2, -S0: 524153 reporte) fi&a&cials for fourt' 4uarter 5 full $ear e&)i&/ !arc' 31
st
, 2014.

Highlights of ! F"#! $onsoli%ate% finan$ials

Net sales 6 (&co"e fro" operatio&s at Rs. 4,044 crores, a /ro7t' of 32% o8er sa"e 4uarter last $ear.
-ra&)e) /e&eric sales i& (&)ia at Rs. %4 crores, up #$ 21% o8er Q4 last $ear.
,S fi&is'e) )osa/e sales at ,S9 403 "illio& /re7 #$ 22% +i& ,S9 ter"s3 o8er Q4 last $ear.
(&ter&atio&al for"ulatio& sales outsi)e ,S at ,S9 2 "illio&, 7ere flat +i& ,S9 ter"s3 o8er Q4 last $ear
.8erall i&ter&atio&al re8e&ues accou&te) for "ore t'a& 5% of total re8e&ues for t'e 4uarter.
0-(:;2 at Rs. 1,8< crores /re7 #$ 42%= resulti&/ 0-(:;2 "ar/i& of 44%, 8ersus 41% for Q4 last $ear.
Net profit at Rs. 1,58 crores co"pare) to Rs. 1,012 crores for Q4 last $ear, up 5% o8er Q4 last $ear=
resulti&/ "ar/i& of 3%%.

Highlights of F"#! $onsoli%ate% finan$ials

Net sales 6 (&co"e fro" operatio&s at Rs. 1<,004 crores, a /ro7t' of 42% o8er t'e sa"e perio) last $ear
(&)ia #ra&)e) /e&eric sales at Rs. 3,<%2 crores, a /ro7t' of 25% o8er last $ear. Nor"ali>i&/ for lo7er sales i&
Q1FY13, a)?uste) /ro7t' at 1% for FY14. :'is /ro7t' 'as #ee& ac'ie8e) )espite t'e i"ple"e&tatio& of t'e
&e7 prici&/ polic$ a&) tra)e c'a&&el )isruptio&s.
,S fi&is'e) )osa/e sales at ,S9 1,<20 "illio& /re7 #$ 43% +i& ,S9 ter"s3 o8er t'e sa"e perio) last $ear.
(&ter&atio&al for"ulatio& sales outsi)e ,S at ,S9 31< "illio& /re7 #$ 13% +i& ,S9 ter"s3 o8er t'e sa"e
perio) last $ear.
0-(:;2 at Rs. ,120 crores /re7 #$ 45%= resulti&/ 0-(:;2 "ar/i& of 45%, co"pare) to 44% for FY13.
Net profit for FY14 at Rs. 3,204 crores co"pare) to Rs. 2,%83 crores for FY13
Recurri&/ &et profit for FY14 at Rs. 5,22 crores, up <0% o8er FY13= resulti&/ "ar/i& of 3<%. :'is e@clu)es
pro8isio& of Rs. 2,51 crores a&) of Rs. 584 crores respecti8el$, #ot' relate) to /e&eric Proto&i@ liti/atio& i&
t'e ,S.


:'ese results 7ere taAe& o& recor) #$ t'e -oar) of ;irectors at a "eeti&/ 'el) i& !u"#ai to)a$.

;ilip S'a&/'8i, !a&a/i&/ ;irector of t'e Bo"pa&$ sai), CFY14 7as a /oo) $ear for us. .ur o8erall perfor"a&ce
reflects t'e focus o& e@ecutio& of our strate/$. De are )e8elopi&/ a )iffere&tiate) a&) specialt$ #usi&ess a&)
co&ti&ue to e8aluate opportu&ities to e&'a&ce our /lo#al prese&ce.E

In%ia &ran%e% 'eneri$s ( )hroni$ Therap* Lea%ership

Sale of #ra&)e) prescriptio& for"ulatio&s i& (&)ia 7as Rs. %4 crores, up #$ 21% fro" Q4 last $ear. For t'e full
$ear FY14, sales 7ere at Rs. 3,<%2 crores, 'i/'er #$ 25% o8er sa"e perio) last $ear. Nor"ali>i&/ for lo7er sales
i& Q1FY13, a)?uste) /ro7t' 7as at 1% for full $ear FY14. :'is /ro7t' 'as #ee& ac'ie8e) )espite t'e
i"ple"e&tatio& of t'e &e7 prici&/ polic$ a&) tra)e c'a&&el )isruptio&s.

Sun Pharmaceutical Industries Ltd.
17/B, Mahal Industrial Estate,
Mahakali Caves Road,
ndheri !East", Mum#ai $%% %&' India
(el.) !&1*++" ,,$- -,$- .a/.) !&1*++" ,,$- -,0-
CI1) L+$+'%231&&'PLC%1&%-%
444.sun5harma.com


Re6istered 788ice ) SPRC, (andal9a, :adodara ; '&% %+%. India
Cor5orate 788ice ) cme Pla<a, ndheri ; =urla Road, ndheri !East", Mum#ai ; $%% %-&. India

Su& P'ar"a is ra&Ae) 2
&)
a&) 'ol)s 5.4% "arAet s'are i& t'e Rs. 5,000 crore p'ar"aceutical "arAet as per !arF
2014 2(.B;F2D2BS report. (t co&ti&ues to #e ra&Ae) &o. 1 #ase) o& s'are of prescriptio&s 7it' classes of
specialists: ps$c'iatrists, &eurolo/ists, car)iolo/ists, op't'al"olo/ists, ort'ope)icia&s, &ep'rolo/ists, a&)
/astroe&terolo/ists.

+S Formulations, Strong Performan$e

Sales i& t'e ,S 7ere ,S9 403 "illio& for Q4 FY14, up #$ 22%, accou&ti&/ for <1% of total sales. For t'e full $ear,
sales 7ere ,S9 1,<20 "illio& recor)i&/ a /ro7t' of 43%.

:aro rece&tl$ poste) Q4 FY14 sales of ,S9 18 "illio&, up 13% fro" t'e correspo&)i&/ 4uarter last $ear. For t'e
full $ear, sales 7ere ,S9 5% "illio&, up #$ 13% o8er full $ear last $ear. :aroGs &et profit for Q4 7as ,S9 %0
"illio&, up #$ 82% o8er Q4 last $ear. Net profit for full $ear FY14 7as at ,S9 3<0 "illio&, up #$ 35% o8er t'e
sa"e perio) last $ear

International e-.+S formulation sales

For"ulatio& sales i& i&ter&atio&al "arAets outsi)e of ,S accou&te) for ,S9 2 "illio& i& Q4FY14 7ere flat YoY +i&
,S9 ter"s3. Sales for t'e full $ear 7ere ,S9 31< "illio&, /ro7i&/ at 13% +i& ,S9 ter"s3. 0@clu)i&/ e@F,S :aro
sales, u&)erl$i&/ sales /ro7t' i& ,S9 ter"s for Su& P'ar"a #usi&ess i& t'ese "arAets 7as %% for t'e fourt'
4uarter a&) 1<% for t'e full $ear FY14.

A$ti/e Pharma$euti$al Ingre%ients 0API1, Strategi$ strength

:'e 2P( #usi&ess 'as strate/ic i"porta&ce for 8ertical i&te/ratio& o& Ae$ pro)ucts. 2 cu"ulati8e of 25< ;!F 6 B0P
applicatio&s 'a8e #ee& "a)e, 7it' 14 appro8e) so far. 0@ter&al sales of 2P( reac'e) Rs. 222 crores i& Q4FY14,
31% /ro7t' o8er Q4 last $ear. For full $ear FY14, 2P( sales 7ere at Rs. 801 crores, a /ro7t' of <% o8er t'e sa"e
perio) last $ear. :'e lo7er /ro7t' for FY14 is "ai&l$ o& accou&t of i&crease) capti8e co&su"ptio&.

Resear$h ( In/esting for future

Bo&soli)ate) R5; e@pe&se for Q4 FY14 7as Rs. 308 crores, or .<% of sales. For full $ear FY14, R5; spe&) 7as
Rs. 1,042 crores at <.5% of sales.

(& t'e fourt' 4uarter, 2N;2 for 10 pro)ucts 7ere file). 2fter cou&ti&/ t'ese, a&) a)?usti&/ for fili&/s t'at 7ere
)roppe), cu"ulati8el$ 2N;2s for 48 pro)ucts 'a8e #ee& file) 7it' t'e ,SF;2 +as o& !arc' 31, 20143. 2N;2s
for 4 pro)ucts recei8e) appro8als i& t'e fourt' 4uarter, taAi&/ t'e total &u"#er of appro8als to 344 +as o& !arc'
31, 20143. 2N;2s for 134 pro)ucts &o7 a7ait ,SF;2 appro8al, i&clu)i&/ te&tati8e appro8als.

:'e total &u"#er of pate&t applicatio&s su#"itte) &o7 sta&)s at 53 7it' 34< pate&ts /ra&te) so far.

Ran2a-* A$quisition ( signifi$ant opportunit* to in$rease sharehol%er /alue

(& 2prilF2014, Su& P'ar"a propose) t'e ac4uisitio& of Ra&#a@$ *a#oratories *t) i& a& allFstocA )eal 8alue) at a&
0&terprise Halue of a#out ,S9 4 #illio&. :'e s7ap ratio 'as #ee& fi@e) at 0.8:1. :'is 'i/'l$ co"ple"e&tar$
co"#i&atio& 7ill lea) to si/&ifica&t 8alue creatio& opportu&ities a&) 7ealt' for s'are'ol)ers, )ri8e& #$ t'e stro&/
positio&i&/ t'at t'e "er/e) e&tit$ 7ill e&?o$ i& t'e ,S, (&)ia a&) 0"er/i&/ !arAets.

.& a pro for"a #asis, t'e co"#i&e) e&tit$Gs re8e&ues are esti"ate) at ,S9 4.2 #illio& for cale&)ar $ear 2013 a&)
0-(:;2 at ,S9 1.2 #illio&. :'e "er/e) e&tit$ 7ill #e a#le to /e&erate s$&er/$ #e&efits of a#out ,S9 250 "illio& #$
t'e t'ir) $ear post closure of t'e )eal. :'ese 7oul) #e )ri8e& "ai&l$ #$ a co"#i&atio& of re8e&ue, procure"e&t
Sun Pharmaceutical Industries Ltd.
17/B, Mahal Industrial Estate,
Mahakali Caves Road,
ndheri !East", Mum#ai $%% %&' India
(el.) !&1*++" ,,$- -,$- .a/.) !&1*++" ,,$- -,0-
CI1) L+$+'%231&&'PLC%1&%-%
444.sun5harma.com


Re6istered 788ice ) SPRC, (andal9a, :adodara ; '&% %+%. India
Cor5orate 788ice ) cme Pla<a, ndheri ; =urla Road, ndheri !East", Mum#ai ; $%% %-&. India

a&) suppl$ c'ai& s$&er/ies. :'e )eal is su#?ect to custo"ar$ re/ulator$ appro8als a&) is e@pecte) to close #$ e&)
of 2014.

'ui%an$e for F"#3

Bo&soli)ate) FY15 re8e&ue /ro7t' /ui)a&ce of 13F15%, R5; spe&)i&/ at <F8% of re8e&ues, 25 2N;2 fili&/s
tar/ete) i& ,S a&) cape@ of Rs. %00 crores. :'e /ui)a&ce taAes i& to accou&t t'e 'i/'er #ase of FY14 as 7ell t'e
risAs associate) 7it' i&crease i& co"petitio& for so"e pro)ucts. Iui)a&ce is at co&sta&t e@c'a&/e rate a&)
e@clu)es t'e i"pact of t'e propose) ac4uisitio& of Ra&#a@$ pe&)i&/ t'e )eal closure.


Earnings )all +10.00 a" (S:, !a$ 30, 20143

:'e Bo"pa&$ 7ill 'ost a& ear&i&/s call at 10.00 a" (S: o& !a$ 30, 2014, 7'ere se&ior "a&a/e"e&t 7ill )iscuss
t'e Bo"pa&$Gs perfor"a&ce a&) a&s7er 4uestio&s fro" participa&ts. :'is call 7ill #e accessi#le t'rou/' a& au)io
)ialFi& a&) a 7e#Fcast.

2u)io co&fere&ce Participa&ts ca& )ialFi& o& t'e &u"#ers #elo7
Pri"ar$ &u"#er: J%1 22 3%<0 08%%
Seco&)ar$ &u"#er: J%1 22 <4< 8324

Pla$#acA of call: J%1 22 30<51212 Bo&fere&ce (;: 8<42

De#Fcast !ore )etails 7ill #e pro8i)e) t'rou/' our 7e#site, 777.su&p'ar"a.co"

:o participate i& t'e au)io call, please )ial t'e &u"#ers pro8i)e) a#o8e fi8e to te& "i&utes a'ea) of t'e sc'e)ule)
start ti"e. :'e operator 7ill pro8i)e i&structio&s o& asAi&/ 4uestio&s #efore t'e call.

:'e tra&script of t'e e8e&t 7ill #e a8aila#le at 777.su&p'ar"a.co". :'e pla$#acA 7ill #e a8aila#le for a fe7
)a$s.




A2out Sun Pharma$euti$al In%ustries Lt%4

0sta#lis'e) i& 1%83, liste) si&ce 1%%4 a&) 'ea)4uartere) i& (&)ia, Su& P'ar"aceutical (&)ustries *t). +Reuters: S,N.-.,
-loo"#er/: S,NP (N, NS0: S,NP12R!2, -S0: 524153 is a& i&ter&atio&al specialt$ p'ar"aceutical co"pa&$ 7it' o8er 2%
sales fro" /lo#al "arAets. (t "a&ufactures a&) "arAets a lar/e #asAet of p'ar"aceutical for"ulatio&s as #ra&)e) /e&erics as
7ell as /e&erics i& ,S, (&)ia a&) se8eral ot'er "arAets across t'e 7orl). For t'e $ear e&)i&/ !arc' 2013, o8erall re8e&ues
7ere at ,S92.1 #illio&, of 7'ic' ,S co&tri#ute) ,S91.1 #illio&. (& (&)ia, t'e co"pa&$ is a lea)er i& &ic'e t'erap$ areas of
ps$c'iatr$, &eurolo/$, car)iolo/$, &ep'rolo/$, /astroe&terolo/$, ort'ope)ics a&) op't'al"olo/$. :'e co"pa&$ 'as stro&/ sAills
i& pro)uct )e8elop"e&t, process c'e"istr$, a&) "a&ufacturi&/ of co"ple@ )osa/e for"s. !ore i&for"atio& a#out t'e co"pa&$
ca& #e fou&) at 777.su&p'ar"a.co".


)onta$ts

Ni"is' ;esai Fre)ericA Bastro
:el J%1 22 <<45 5<45, Kt& 51 :el J%1 22 <<45 5<45, Kt& 5%<4
:el ;irect J%1 22 <<4551 :el ;irect J%1 22 <<455%<4
!o#ile J%1 %8203 30182 !o#ile J%1 %%20< <<51<
0 "ail &i"is'.)esaiLsu&p'ar"a.co" 0 "ail fre)ericA.castroLsu&p'ar"a.co"