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Investor Presentaiton

Financial Ratios Growth (%) SUN PHARMA FY11 FY12 FY13 FY14 FY15 Net Sales Gross Profit EBITDA 42.8 39.9 40.4 42.4 70.5 46.3 49.5 43.9 44.4 55.4 43.2 66.5 50.9 45.0 9.9 Net Profit 34.4 46.3 12.3 5.3 44.5 Net Profit (Adjusted) 34.4 46.3 34.3# 58.7# (15.6)# Margins (%) Gross Margin 74.4 79.5 81.5 82.6 75.3 EBITDA Margin (%) 34.1 40.6 43.7 44.5 28.6 Net Margin 31.7 33.2 26.5 19.6 16.6 Net Margin (Adjusted) 31.7 33.2 31.7# 35.4# 17.5# Return (%) ROCE 20.3 23.8 26.7 26.9 17.8 ROE Others Debt/Equity Fully Diluted EPS (Rs) Post bonus Fully Diluted EPS (Rs) Post bonus (Adjusted) R&D Spend % of Net Sales Revenue Capital 21.0 23.8 25.7 30.9 20.4 0.04 0.02 0.01 0.13 0.30 8.8 12.8 14.4 15.2 18.9 8.8 12.8 17.2# 27.3 # 19.9 # 5.8 5.6 6.3 6.5 7.2 5.4 5.1 5.9 6.2 6.7 0.4 0.5 0.4 0.3 0.4 © Sun Pharmaceutical Industries Limited. All Rights Reserved. # Adjusted for Rs 5.83 bn provision related to generic Protonix settlement for the year 2012-13. Adjusted for Rs 25.17 bn provision related to generic Protonix settlement for the year 2013-14. Adjusted for Rs 2.4 bn for settlement provision for Texas Medicaid Program litigation for 2014-15. 49
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