Investor Presentaiton

Sustained Profitability Vs. Peers Superior business model Margins consistently higher than peers# Gross Margin 83% 82% 77% 75% 73% 72% 66% 64% 63% 63% 62% 62% EBITDA Margin Net Margin 44% 45% 29% 29% 28% 35% 32% SUN PHARMA 23% 19% 22% 23% 18% 20% 14% 14% 14% 19% 19% 19% 12% 13% 10% 8% 18% FY13 FY14 FY15 FY16 FY17 FY18 FY13 FY14 FY15 FY16 FY17 FY18 FY13 FY14 FY15 FY16 FY17 FY18 Sun Pharma Range of Top 10 Indian Pharma Cos. Average Gross margin= (Net Sales - Material Cost) / Net Sales * 100 #Top 10 Indian Pharma company include Aurobindo, Cadila Healthcare, Cipla, DRL, Ranbaxy, Glenmark, Ipca, Lupin, Torrent and Wockhardt. © Sun Pharmaceutical Industries Limited. All Rights Reserved. 12

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