| Quarter | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 491 | 469 | 511 | 464 | 524 | 515 | 536 | 406 | 475 | 420 | 472 | 438 | |
Growth YoY Revenue Growth YoY% | -29.1 | -30.2 | -30.6 | -10.0 | 6.8 | 9.7 | 4.9 | -12.3 | -9.3 | -18.5 | -11.9 | 7.7 |
| 377 | 370 | 374 | 348 | 404 | 397 | 364 | 311 | 341 | 330 | 330 | 322 | |
| 114 | 100 | 137 | 116 | 120 | 118 | 172 | 95 | 134 | 90 | 143 | 115 | |
OPM OPM% | 23.1 | 21.2 | 26.8 | 25.0 | 22.8 | 23.0 | 32.1 | 23.4 | 28.2 | 21.5 | 30.2 | 26.3 |
| 11 | 9 | -23 | -14 | 2 | 14 | 3 | 9 | -22 | 3 | 4 | 6 | |
Interest Expense Interest ExpenseCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
Depreciation DepreciationCr | 9 | 9 | 9 | 9 | 9 | 10 | 10 | 9 | 9 | 10 | 9 | 9 |
PBT PBTCr | 115 | 99 | 105 | 92 | 113 | 122 | 165 | 94 | 102 | 83 | 138 | 112 |
| 34 | 30 | 33 | 24 | 30 | 31 | 46 | 25 | 26 | 21 | 35 | 29 | |
| 152 | 138 | 137 | 103 | 82 | 91 | 120 | 70 | 76 | 62 | 103 | 84 | |
Growth YoY PAT Growth YoY% | 16.3 | 5.2 | -28.3 | -15.9 | -46.0 | -33.7 | -12.5 | -32.8 | -7.5 | -32.4 | -14.1 | 20.1 |
NPM NPM% | 31.0 | 29.4 | 26.7 | 22.3 | 15.7 | 17.7 | 22.3 | 17.1 | 16.0 | 14.7 | 21.7 | 19.1 |
| 66.1 | 59.9 | 59.3 | 44.9 | 35.7 | 39.6 | 51.9 | 30.2 | 33.0 | 26.8 | 44.5 | 36.3 |
| Quarter | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 491 | 469 | 511 | 464 | 524 | 515 | 536 | 406 | 475 | 420 | 472 | 438 | |
Growth YoY Revenue Growth YoY% | -29.1 | -30.2 | -30.6 | -10.0 | 6.8 | 9.7 | 4.9 | -12.3 | -9.3 | -18.5 | -11.9 | 7.7 |
| 377 | 370 | 374 | 348 | 404 | 397 | 364 | 311 | 341 | 330 | 330 | 322 | |
| 114 | 100 | 137 | 116 | 120 | 118 | 172 | 95 | 134 | 90 | 143 | 115 | |
OPM OPM% | 23.1 | 21.2 | 26.8 | 25.0 | 22.8 | 23.0 | 32.1 | 23.4 | 28.2 | 21.5 | 30.2 | 26.3 |
| 11 | 9 | -23 | -14 | 2 | 14 | 3 | 9 | -22 | 3 | 4 | 6 | |
Interest Expense Interest ExpenseCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
Depreciation DepreciationCr | 9 | 9 | 9 | 9 | 9 | 10 | 10 | 9 | 9 | 10 | 9 | 9 |
PBT PBTCr | 115 | 99 | 105 | 92 | 113 | 122 | 165 | 94 | 102 | 83 | 138 | 112 |
| 34 | 30 | 33 | 24 | 30 | 31 | 46 | 25 | 26 | 21 | 35 | 29 | |
| 152 | 138 | 137 | 103 | 82 | 91 | 120 | 70 | 76 | 62 | 103 | 84 | |
Growth YoY PAT Growth YoY% | 16.3 | 5.2 | -28.3 | -15.9 | -46.0 | -33.7 | -12.5 | -32.8 | -7.5 | -32.4 | -14.1 | 20.1 |
NPM NPM% | 31.0 | 29.4 | 26.7 | 22.3 | 15.7 | 17.7 | 22.3 | 17.1 | 16.0 | 14.7 | 21.7 | 19.1 |
| 66.1 | 59.9 | 59.3 | 44.9 | 35.7 | 39.6 | 51.9 | 30.2 | 33.0 | 26.8 | 44.5 | 36.3 |
| Financial Year | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue RevenueCr | 2,193 | 2,367 | 2,464 | 2,771 | 3,071 | 2,902 | 2,957 | 2,770 | 2,851 | 2,013 | 1,837 | 1,805 |
Growth Revenue Growth% | 10.9 | 7.9 | 4.1 | 12.5 | 10.8 | -5.5 | 1.9 | -6.3 | 2.9 | -29.4 | -8.7 | -8.9 |
| 1,734 | 1,832 | 1,926 | 2,147 | 2,405 | 2,189 | 2,194 | 2,066 | 2,047 | 1,522 | 1,346 | 1,323 | |
| 459 | 535 | 537 | 624 | 665 | 713 | 763 | 704 | 804 | 491 | 491 | 483 | |
OPM OPM% | 20.9 | 22.6 | 21.8 | 22.5 | 21.7 | 24.6 | 25.8 | 25.4 | 28.2 | 24.4 | 26.7 | 26.7 |
| 51 | 66 | 81 | 90 | 35 | 48 | 564 | 204 | 83 | -21 | -8 | -9 | |
Interest Expense Interest ExpenseCr | 0 | 2 | 1 | 1 | 0 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
Depreciation DepreciationCr | 113 | 119 | 102 | 103 | 100 | 82 | 67 | 42 | 40 | 37 | 37 | 37 |
PBT PBTCr | 397 | 480 | 515 | 610 | 600 | 677 | 1,258 | 864 | 846 | 431 | 445 | 436 |
| 159 | 176 | 189 | 229 | 186 | 200 | 313 | 244 | 243 | 118 | 118 | 112 | |
PAT PATCr | 238 | 304 | 326 | 381 | 414 | 478 | 944 | 621 | 603 | 314 | 327 | 324 |
Growth PAT Growth% | 20.6 | 28.0 | 7.2 | 16.8 | 8.8 | 15.3 | 97.7 | -34.3 | -2.8 | -48.0 | 4.1 | -10.7 |
NPM NPM% | 10.8 | 12.8 | 13.2 | 13.7 | 13.5 | 16.5 | 31.9 | 22.4 | 21.2 | 15.6 | 17.8 | 17.9 |
| 139.6 | 132.3 | 141.7 | 165.5 | 179.8 | 207.4 | 410.1 | 269.5 | 261.9 | 179.5 | 141.8 | 140.6 |
| Financial Year | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue RevenueCr | 2,193 | 2,367 | 2,464 | 2,771 | 3,071 | 2,902 | 2,957 | 2,770 | 2,851 | 2,013 | 1,837 | 1,805 |
Growth Revenue Growth% | 10.9 | 7.9 | 4.1 | 12.5 | 10.8 | -5.5 | 1.9 | -6.3 | 2.9 | -29.4 | -8.7 | -8.9 |
| 1,734 | 1,832 | 1,926 | 2,147 | 2,405 | 2,189 | 2,194 | 2,066 | 2,047 | 1,522 | 1,346 | 1,323 | |
| 459 | 535 | 537 | 624 | 665 | 713 | 763 | 704 | 804 | 491 | 491 | 483 | |
OPM OPM% | 20.9 | 22.6 | 21.8 | 22.5 | 21.7 | 24.6 | 25.8 | 25.4 | 28.2 | 24.4 | 26.7 | 26.7 |
| 51 | 66 | 81 | 90 | 35 | 48 | 564 | 204 | 83 | -21 | -8 | -9 | |
Interest Expense Interest ExpenseCr | 0 | 2 | 1 | 1 | 0 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
Depreciation DepreciationCr | 113 | 119 | 102 | 103 | 100 | 82 | 67 | 42 | 40 | 37 | 37 | 37 |
PBT PBTCr | 397 | 480 | 515 | 610 | 600 | 677 | 1,258 | 864 | 846 | 431 | 445 | 436 |
| 159 | 176 | 189 | 229 | 186 | 200 | 313 | 244 | 243 | 118 | 118 | 112 | |
PAT PATCr | 238 | 304 | 326 | 381 | 414 | 478 | 944 | 621 | 603 | 314 | 327 | 324 |
Growth PAT Growth% | 20.6 | 28.0 | 7.2 | 16.8 | 8.8 | 15.3 | 97.7 | -34.3 | -2.8 | -48.0 | 4.1 | -10.7 |
NPM NPM% | 10.8 | 12.8 | 13.2 | 13.7 | 13.5 | 16.5 | 31.9 | 22.4 | 21.2 | 15.6 | 17.8 | 17.9 |
| 139.6 | 132.3 | 141.7 | 165.5 | 179.8 | 207.4 | 410.1 | 269.5 | 261.9 | 179.5 | 141.8 | 140.6 |
| Financial Year | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital Equity CapitalCr | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 |
Reserves ReservesCr | 1,604 | 1,860 | 2,003 | 2,196 | 2,419 | 2,096 | 2,203 | 1,253 | 993 | 838 | 726 | 803 |
| 617 | 502 | 602 | 624 | 703 | 687 | 750 | 741 | 651 | 737 | 491 | 570 | |
| 161 | 156 | 150 | 141 | 99 | 113 | 86 | 55 | 48 | 15 | 14 | 11 | |
| 2,405 | 2,541 | 2,778 | 2,984 | 3,244 | 2,919 | 3,061 | 2,072 | 1,715 | 1,612 | 1,255 | 1,407 | |
| 1,244 | 1,575 | 1,444 | 1,592 | 2,129 | 1,833 | 2,138 | 1,610 | 1,246 | 1,127 | 801 | 965 | |
| 1,161 | 966 | 1,334 | 1,392 | 1,115 | 1,085 | 923 | 461 | 469 | 485 | 454 | 442 | |
| 2,405 | 2,541 | 2,778 | 2,984 | 3,244 | 2,919 | 3,061 | 2,072 | 1,715 | 1,612 | 1,255 | 1,407 |
| Financial Year | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital Equity CapitalCr | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 |
Reserves ReservesCr | 1,604 | 1,860 | 2,003 | 2,196 | 2,419 | 2,096 | 2,203 | 1,253 | 993 | 838 | 726 | 803 |
| 617 | 502 | 602 | 624 | 703 | 687 | 750 | 741 | 651 | 737 | 491 | 570 | |
| 161 | 156 | 150 | 141 | 99 | 113 | 86 | 55 | 48 | 15 | 14 | 11 | |
| 2,405 | 2,541 | 2,778 | 2,984 | 3,244 | 2,919 | 3,061 | 2,072 | 1,715 | 1,612 | 1,255 | 1,407 | |
| 1,244 | 1,575 | 1,444 | 1,592 | 2,129 | 1,833 | 2,138 | 1,610 | 1,246 | 1,127 | 801 | 965 | |
| 1,161 | 966 | 1,334 | 1,392 | 1,115 | 1,085 | 923 | 461 | 469 | 485 | 454 | 442 | |
| 2,405 | 2,541 | 2,778 | 2,984 | 3,244 | 2,919 | 3,061 | 2,072 | 1,715 | 1,612 | 1,255 | 1,407 |
| Financial Year | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 213 | 322 | 435 | 374 | 412 | 611 | 559 | 399 | 231 | 462 | 438 | |
| 36 | -155 | -79 | -73 | 66 | 276 | 631 | 651 | 36 | -19 | -11 | |
| -147 | -180 | -188 | -197 | -183 | -810 | -849 | -1,583 | -878 | -392 | -448 | |
Net Cash Flow Net Cash FlowCr | 102 | -13 | 168 | 104 | 295 | 78 | 341 | -533 | -612 | 50 | -21 |
Free Cash Flow Free Cash FlowCr | 185 | 253 | 379 | 317 | 337 | 810 | 574 | 412 | 221 | 426 | 413 |
CFO To PAT CFO To PAT% | 89.7 | 105.9 | 133.5 | 98.2 | 99.5 | 128.0 | 59.2 | 64.2 | 38.3 | 147.2 | 134.2 |
CFO To EBITDA CFO To EBITDA% | 46.4 | 60.2 | 81.0 | 60.0 | 62.0 | 85.7 | 73.3 | 56.6 | 28.7 | 94.1 | 89.2 |
| Financial Year | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 213 | 322 | 435 | 374 | 412 | 611 | 559 | 399 | 231 | 462 | 438 | |
| 36 | -155 | -79 | -73 | 66 | 276 | 631 | 651 | 36 | -19 | -11 | |
| -147 | -180 | -188 | -197 | -183 | -810 | -849 | -1,583 | -878 | -392 | -448 | |
Net Cash Flow Net Cash FlowCr | 102 | -13 | 168 | 104 | 295 | 78 | 341 | -533 | -612 | 50 | -21 |
Free Cash Flow Free Cash FlowCr | 185 | 253 | 379 | 317 | 337 | 810 | 574 | 412 | 221 | 426 | 413 |
CFO To PAT CFO To PAT% | 89.7 | 105.9 | 133.5 | 98.2 | 99.5 | 128.0 | 59.2 | 64.2 | 38.3 | 147.2 | 134.2 |
CFO To EBITDA CFO To EBITDA% | 46.4 | 60.2 | 81.0 | 60.0 | 62.0 | 85.7 | 73.3 | 56.6 | 28.7 | 94.1 | 89.2 |
| Financial Year | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap Market CapitalizationCr | 10,036 | 9,896 | 10,857 | 14,630 | 16,157 | 19,156 | 18,178 | 13,472 | 18,579 | 14,097 | 9,423 | 7,047 |
Price To Earnings Price To Earnings | 31.2 | 32.5 | 33.3 | 38.4 | 39.0 | 40.1 | 19.2 | 21.7 | 30.8 | 34.0 | 28.8 | 21.8 |
Price To Sales Price To Sales | 4.6 | 4.2 | 4.4 | 5.3 | 5.3 | 6.6 | 6.2 | 4.9 | 6.5 | 7.0 | 5.1 | 3.9 |
Price To Book Price To Book | 6.2 | 5.3 | 5.3 | 6.6 | 6.6 | 9.0 | 8.2 | 10.6 | 18.3 | 16.4 | 12.6 | 8.5 |
EV To EBITDA EV To EBITDA | 20.6 | 17.4 | 18.9 | 22.1 | 22.6 | 25.2 | 21.8 | 17.7 | 22.6 | 28.2 | 18.7 | 13.9 |
GPM GPM% | 49.1 | 50.5 | 55.1 | 54.2 | 52.2 | 52.9 | 52.8 | 53.9 | 54.7 | 49.1 | 49.2 | 49.2 |
OPM OPM% | 20.9 | 22.6 | 21.8 | 22.5 | 21.7 | 24.6 | 25.8 | 25.4 | 28.2 | 24.4 | 26.7 | 26.7 |
NPM NPM% | 10.8 | 12.8 | 13.2 | 13.7 | 13.5 | 16.5 | 31.9 | 22.4 | 21.2 | 15.6 | 17.8 | 17.9 |
ROCE ROCE% | 24.4 | 25.6 | 25.4 | 27.5 | 24.6 | 31.7 | 56.0 | 66.7 | 81.9 | 49.2 | 58.2 | 52.9 |
ROE ROE% | 14.6 | 16.2 | 16.1 | 17.1 | 17.0 | 22.5 | 42.4 | 48.6 | 59.4 | 36.5 | 43.6 | 39.2 |
ROA ROA% | 9.9 | 12.0 | 11.7 | 12.8 | 12.8 | 16.4 | 30.9 | 30.0 | 35.2 | 19.5 | 26.0 | 23.0 |
| Financial Year | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap Market CapitalizationCr | 10,036 | 9,896 | 10,857 | 14,630 | 16,157 | 19,156 | 18,178 | 13,472 | 18,579 | 14,097 | 9,423 | 7,047 |
Price To Earnings Price To Earnings | 31.2 | 32.5 | 33.3 | 38.4 | 39.0 | 40.1 | 19.2 | 21.7 | 30.8 | 34.0 | 28.8 | 21.8 |
Price To Sales Price To Sales | 4.6 | 4.2 | 4.4 | 5.3 | 5.3 | 6.6 | 6.2 | 4.9 | 6.5 | 7.0 | 5.1 | 3.9 |
Price To Book Price To Book | 6.2 | 5.3 | 5.3 | 6.6 | 6.6 | 9.0 | 8.2 | 10.6 | 18.3 | 16.4 | 12.6 | 8.5 |
EV To EBITDA EV To EBITDA | 20.6 | 17.4 | 18.9 | 22.1 | 22.6 | 25.2 | 21.8 | 17.7 | 22.6 | 28.2 | 18.7 | 13.9 |
GPM GPM% | 49.1 | 50.5 | 55.1 | 54.2 | 52.2 | 52.9 | 52.8 | 53.9 | 54.7 | 49.1 | 49.2 | 49.2 |
OPM OPM% | 20.9 | 22.6 | 21.8 | 22.5 | 21.7 | 24.6 | 25.8 | 25.4 | 28.2 | 24.4 | 26.7 | 26.7 |
NPM NPM% | 10.8 | 12.8 | 13.2 | 13.7 | 13.5 | 16.5 | 31.9 | 22.4 | 21.2 | 15.6 | 17.8 | 17.9 |
ROCE ROCE% | 24.4 | 25.6 | 25.4 | 27.5 | 24.6 | 31.7 | 56.0 | 66.7 | 81.9 | 49.2 | 58.2 | 52.9 |
ROE ROE% | 14.6 | 16.2 | 16.1 | 17.1 | 17.0 | 22.5 | 42.4 | 48.6 | 59.4 | 36.5 | 43.6 | 39.2 |
ROA ROA% | 9.9 | 12.0 | 11.7 | 12.8 | 12.8 | 16.4 | 30.9 | 30.0 | 35.2 | 19.5 | 26.0 | 23.0 |
Documents — Sanofi India Ltd
Concall Transcript Summaries — Sanofi India Ltd