Sanofi India Q2 Review – Another Quarter Of Controlled Costs: ICICI Securities

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Sanofi India Ltd.’s Q2 CY21’s performance was yet again supported by controlled costs.

Revenue grew 11.1% y-o-y to Rs 7.9 billion but it was below our estimate of Rs 8.2 billion.

Ebitda margin improved 640 basis points y-o-y and 520bps q-o-q with lower expenses to 31.3%.

Adjusted profit after tax grew 31.6% to Rs 1.8 billion.

As per All Indian Origin Chemists and Distributors data, Sanofi India reported a y-o-y growth of 30.8% for the quarter.

In the past few years, the company’s growth and profitability was fuelled by the power brands.

Click on the attachment to read the full report:

ICICI Securities Sanofi Q2CY21 Result Update.pdf


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