Sun Pharma Q4 Results 2025 Preview: Analysts Bullish on Earnings & India Business Outlook Amid Tariff Concerns

Pharmaceutical major Sun Pharmaceutical Industries is projected to deliver a strong set of earnings for the fourth quarter (Q4) of the financial year 2025 (FY2025), supported by the continued expansion of its speciality drug portfolio. Products such as Odomzo and Ilumya have shown sustained growth in emerging markets and the rest of the world (ROW), contributing positively to the company's global footprint.

Sun Pharma Q4 Results 2025 Preview: Top Experts Ratings

Additionally, analysts believe that recent product launches in India will further solidify Sun Pharma's leading position in the branded generics market. Below are the ratings from top market analysts, including HSBC Institutional Equities, Nomura, Goldman Sachs, Kotak Institutional Equities, and others, for Sun Pharma's Q4 results.

Sun Pharma Q4 Results 2025 Today

The top pharma company is scheduled to announce its Q4 results today on Thursday, 22 May 2025. Expectations are high across several market segments. In India, Sun Pharma's business is forecast to grow at a pace ahead of the overall market, buoyed by a robust presence in chronic therapies and an expanding product pipeline. However, the ROW segment may experience a modest year-on-year decline of around 4%, according to analysts.

HSBC Institutional Equities (HSIE) Sun Pharma Preview

Brokerages generally agree that Sun Pharma will maintain momentum in its speciality and chronic segments, with improvements in margins and healthy domestic performance. Among the analysts, HSBC Institutional Equities (HSIE) has presented the most optimistic forecast. HSIE estimates the company's revenue at Rs 13,160 crore, net profit at Rs 2,892 crore, and EBITDA margin at 27%. These figures suggest strong confidence in Sun Pharma's Q4 delivery.

Goldman Sachs Sun Pharma Q4 Earnings Preview

Goldman Sachs has issued the most conservative estimates among the brokerages. It expects revenue to come in at Rs 11,982 crore, net profit at Rs 2,761 crore, and an EBITDA margin of just 25.3%. This cautious outlook suggests Goldman Sachs may be anticipating headwinds in growth or pressure on margins during the quarter.

Nomura Sun Pharma Preview

Nomura is similarly upbeat, forecasting revenue at Rs 13,157 crore-just marginally below HSIE's estimate. However, it expects the highest net profit among all brokerages at Rs 2,938 crore and the strongest EBITDA margin of 29%. This indicates that Nomura anticipates effective cost control and enhanced earnings efficiency.

BNP Paribas Sun Pharma Preview

BNP Paribas has offered a more moderate outlook, with projected revenue of Rs 13,149 crore, net profit of Rs 2,775 crore, and an EBITDA margin of 28%. This balanced forecast implies steady performance without taking an overly bullish or conservative stance. Emkay's projections are slightly more cautious, with revenue forecasted at Rs 13,112 crore, net profit at Rs 2,706 crore, and an EBITDA margin of 26.5%. While these are on the lower end of the range, they still indicate confidence in overall earnings strength.

When averaging the forecasts of all brokerages, Sun Pharma is expected to report revenue of Rs 12,912 crore, net profit of Rs 2,814 crore, and an EBITDA margin of 27.16%. For comparison, the company posted revenue of Rs 13,437 crore, net profit of Rs 2,903 crore, and an EBITDA margin of 29.3% in the previous quarter. In the corresponding quarter of the last financial year (Q4 FY24), Sun Pharma had reported revenue of Rs 11,813 crore, net profit of Rs 2,655 crore, and a margin of 25.3%.

Sun Pharma Business Performance in India: Outlook on Trump Tariffs' Impact on Pharma Exports

The domestic business continues to be a key growth engine for the company. Analysts expect Sun Pharma's India operations to maintain double-digit growth in Q4 FY25, outperforming the broader market.

Nomura attributes this to the company's leadership in chronic therapies, effective new launches, and its recently strengthened sales force. BNP Paribas also anticipates continued strong performance in domestic formulations, which will likely contribute to both revenue and margin improvement.

Kotak Institutional Equities' Outlook For Sun Pharma: On a broader industry note, Kotak Institutional Equities has commented on the potential imposition of tariffs on Indian pharmaceutical exports. The brokerage believes that any such tariffs would likely be passed on to consumers, minimising their impact on Indian pharma firms in the short term.

Kotak also underscores India's structural advantage in pharmaceutical manufacturing, noting that it would take at least five to seven years for production to be meaningfully relocated to the United States.

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Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.