Sun Pharmaceutical Industries Ltd

Meeting details

• Earnings conference call scheduled for 30 October 2026 at 06:30 pm IST.
• Type and mode: virtual earnings call with audio webcast.
• Organiser: Sun Pharmaceutical Industries Limited.
• Key participants: senior management to discuss performance and answer questions.
• Purpose: discuss quarterly results and respond to investor questions.
• Transcript will be available on the company website; audio webcast details will be announced.
• Pre-registration is required to participate.
• Duration: approximately one hour.

Meeting Details

• Board to meet on Friday, 30 October 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited standalone and consolidated financial results for quarter and half year ended 30 September 2026.

Other Notes

• Trading window closed from 1 October 2026 to 1 November 2026, 48 hours after results.

Dematerialisation status

• Securities received for dematerialisation during the period were processed and confirmed to the depositories.
• Securities dematerialised have been listed on the stock exchanges where the existing securities are listed.
• Physical certificates were mutilated and cancelled after verification, with the depository named as registered owner within prescribed timelines.

Rating actions & instruments

• CRISIL assigns Crisil AAA/Stable to proposed NCD programme of Rs 15,000 crore.
• CRISIL reaffirms Crisil AAA/Stable on long-term facilities.
• CRISIL reaffirms Crisil A1+ on commercial paper.
• ICRA assigns SPIL NCD programme [ICRA]AAA (Stable); CP [ICRA]A1+ reaffirmed.
• ICRA reaffirms [ICRA]AAA (Stable)/ [ICRA]A1+ on fund-based/ non-fund-based limits.
• ICRA reaffirms SPLL short-term facilities Rs 150 crore at [ICRA]A1+.

Rationale & outlook

• Sun Pharma leadership in domestic formulations with US/regulated market strength and robust specialty portfolio.
• Organon acquisition will significantly boost scale; immediate leverage increases.
• Regulatory risk: ongoing US FDA non-compliances; monitor but mitigated by large base.
• Liquidity: robust cash surplus supports near-term debt obligations; Organon funding will be debt-funded.
• Outlook: Stable per Crisil and ICRA for SPIL.

Material changes since last rating

• Crisil previously issued Watch Developing on fund-based/ non-fund-based limits; current rating reaffirmed at AAA/Stable.