Sun Pharmaceutical Industries Ltd is expected to report Q3 FY26 revenue of around ₹13,500 crore, up 8–10% year-on-year, while net profit is estimated at nearly ₹2,400 crore, reflecting an 8% annual increase, according to analyst estimates. EBITDA margins are likely to remain stable at 28–30%, supported by steady domestic growth and a favourable product mix.
Growth in the December quarter is expected to be led by Sun Pharma’s India formulations business, which continues to benefit from strong demand for chronic therapies and periodic price hikes. Analysts expect the domestic market to remain a key earnings driver, contributing consistently to both revenue growth and margin stability.
The company’s specialty drugs portfolio, including products such as Ilumya and Cequa, is expected to deliver stable sales during the quarter. However, higher spending on marketing and research and development is likely to limit margin expansion. While the specialty business remains strategically important for long-term growth, analysts believe profitability from this segment will take time to scale up.
In contrast, Sun Pharma’s US generics business is expected to remain largely flat, weighed down by persistent pricing pressure and intense competition. Limited new product launches and ongoing price erosion are likely to restrict growth in the US market, which has been a key headwind for Indian drugmakers in recent years.
Other international markets are expected to report modest performance, broadly in line with previous quarters. Cost controls and a stable operating environment are likely to help the company protect margins despite challenges in select geographies.
On the profitability front, earnings are expected to closely track operating performance, with no major one-off items anticipated during the quarter. Analysts will closely monitor management commentary on the outlook for the US generics business, progress in the specialty portfolio, and the pace of investment in research and development.
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