Sanofi India Ltd
Sanofi India Ltd
HealthcareKey Fundamentals
MicrocapPharmaceuticalsHealthcareInsights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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40 extracted metrics + investor summaries across FY14–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
4- Company has reduced debt.
- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 47.8%
- Company has been maintaining a healthy dividend payout of 71.8%
Weaknesses
2- Stock is trading at 8.90 times its book value
- The company has delivered a poor sales growth of -8.74% over past five years.
Growth Rate
AI Analysis — Bull vs Bear
Sanofi India Ltd is a debt-free MNC pharmaceutical company with a market cap of Rs 7,619 crore, trading at a PE of 25x and 10.35x book value. The company has delivered strong ROE of 43-48% in recent years but faces persistent revenue decline with compounded sales shrinking at -13% TTM and -9% over five years, while maintaining a dividend yield of 2.23%.
- Company is virtually debt-free, providing financial resilience and flexibility in a challenging operating environment
- Exceptional return on equity at 43% last year and 48% on a 3-year basis, indicating highly efficient capital utilization despite revenue headwinds
- Healthy dividend payout ratio of 71.8% with a current dividend yield of 2.23%, offering tangible cash returns to shareholders
- 5-year ROE of 37% and 10-year ROE of 26% demonstrate sustained long-term profitability well above cost of equity
- MNC parentage (Sanofi SA) provides access to global R&D pipeline, quality standards, and established brand portfolio in Indian healthcare
- PE ratio of 25x is relatively moderate for a debt-free MNC pharma company with 40%+ ROE, suggesting valuation is not extreme on an earnings basis
- 10-year compounded profit growth of 3% shows the company has managed to maintain profitability over the long term despite top-line challenges
- Compounded sales have declined at -13% over the trailing twelve months, indicating accelerating revenue erosion
- 5-year compounded sales growth of -8.74% reflects a structural and persistent inability to grow the top line
- Stock price has declined 42% over the past 1 year, reflecting significant market de-rating and negative sentiment
- Trading at 10.35x price-to-book is expensive for a company with shrinking revenues, suggesting limited margin of safety
- 3-year stock CAGR of -8% and 5-year CAGR of -8% show prolonged wealth destruction for shareholders
- TTM compounded profit decline of -13% indicates that margin management is no longer fully offsetting revenue shrinkage
- 10-year stock CAGR of only 2% shows the company has barely kept pace with inflation over a decade, underperforming broader indices significantly
- 3-year compounded sales decline of -13% suggests the revenue deterioration is not a one-off event but a sustained multi-year trend
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- CFO resigns effective Sep 2026 Jul 23
Rachid Ayari resigned as Whole Time Director, CFO, and Key Managerial Personnel effective September 30, 2026. Replacement identification is still in process, creating near-term leadership uncertainty.
- Senior management personnel exits Jul 31
Nakul Verma will cease to be Senior Management Personnel on July 31, 2026, transitioning to another Sanofi group role. Combined with the CFO departure, two key executives are leaving within months.
- Q2FY27 earnings call Aug 5 Jul 23
Sanofi India will hold an investor call on August 5, 2026, to discuss unaudited financial results for the quarter and half year ended June 30, 2026.
- Nakul Verma internal transition Jul 31
Verma's exit is an internal group transfer rather than a departure from the broader Sanofi organization, disclosed under SEBI Regulation 30.
TL;DR: Sanofi India faces near-term leadership churn with both its CFO and a senior management head exiting by Q3 2026, though both are internal Sanofi group transitions rather than adversarial departures. No operational or financial negatives have surfaced, and Q2FY27 results due August 5 will provide the next fundamental data point. The risk is execution continuity during the leadership transition period; the trend is neutral pending earnings clarity.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 515 | 491 | 469 | 511 | 464 | 524 | 515 | 536 | 406 | 475 | 420 | 472 | 438 |
| Expenses | 393 | 377 | 370 | 374 | 348 | 404 | 397 | 364 | 311 | 341 | 330 | 330 | 322 |
| Operating Profit | 122 | 114 | 100 | 137 | 116 | 120 | 118 | 172 | 95 | 134 | 90 | 143 | 115 |
| OPM % | 24% | 23% | 21% | 27% | 25% | 23% | 23% | 32% | 23% | 28% | 22% | 30% | 26% |
| Other Income | 57 | 82 | 77 | 41 | 21 | 2 | 14 | 3 | 9 | -22 | 3 | 4 | 6 |
| Interest | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Depreciation | 9 | 9 | 9 | 9 | 9 | 9 | 10 | 10 | 9 | 9 | 10 | 9 | 9 |
| PBT | 169 | 186 | 167 | 169 | 127 | 113 | 122 | 165 | 94 | 102 | 83 | 138 | 112 |
| Tax % | 27% | 18% | 18% | 19% | 19% | 27% | 25% | 28% | 26% | 26% | 26% | 26% | 26% |
| Net Profit | 123 | 152 | 138 | 137 | 103 | 82 | 91 | 120 | 70 | 76 | 62 | 103 | 84 |
| EPS in Rs | 53.43 | 66.17 | 59.87 | 59.39 | 44.96 | 35.74 | 39.7 | 51.96 | 30.22 | 33.04 | 26.83 | 44.61 | 36.3 |
Profit & Loss
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,977 | 2,193 | 2,367 | 2,460 | 2,771 | 3,071 | 2,902 | 2,957 | 2,770 | 2,851 | 2,013 | 1,837 | 1,805 |
| Expenses | 1,639 | 1,817 | 1,832 | 1,921 | 2,146 | 2,403 | 2,186 | 2,194 | 2,066 | 2,047 | 1,522 | 1,346 | 1,323 |
| Operating Profit | 339 | 376 | 535 | 538 | 625 | 667 | 716 | 762 | 704 | 804 | 491 | 491 | 483 |
| OPM % | 17% | 17% | 23% | 22% | 23% | 22% | 25% | 26% | 25% | 28% | 24% | 27% | 27% |
| Other Income | 131 | 218 | 66 | 79 | 88 | 33 | 45 | 564 | 204 | 83 | 79 | -8 | -9 |
| Interest | 0 | 0 | 2 | 1 | 1 | 0 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Depreciation | 97 | 113 | 119 | 102 | 103 | 100 | 82 | 67 | 42 | 40 | 37 | 37 | 36 |
| PBT | 373 | 481 | 480 | 515 | 610 | 600 | 677 | 1,258 | 864 | 846 | 531 | 445 | 436 |
| Tax % | 29% | 33% | 37% | 37% | 38% | 31% | 29% | 25% | 28% | 29% | 22% | 27% | — |
| Net Profit | 264 | 322 | 304 | 326 | 381 | 414 | 478 | 944 | 621 | 603 | 414 | 327 | 324 |
| EPS in Rs | 115 | 140 | 132 | 142 | 165 | 180 | 208 | 411 | 270 | 262 | 180 | 142 | 141 |
| Div. Payout % | 39% | 46% | 51% | 50% | 51% | 194% | 176% | 119% | 211% | 64% | 65% | 87% | — |
Balance Sheet
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 |
| Reserves | 1,463 | 1,604 | 1,860 | 2,003 | 2,196 | 2,419 | 2,096 | 2,203 | 1,253 | 992 | 838 | 726 | 803 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 23 | 25 | 24 | 19 | 19 | 18 | 15 |
| Other Liabilities | 742 | 778 | 658 | 751 | 765 | 802 | 777 | 811 | 772 | 681 | 732 | 488 | 567 |
| Total Liabilities | 2,228 | 2,405 | 2,541 | 2,778 | 2,984 | 3,244 | 2,918 | 3,061 | 2,072 | 1,715 | 1,612 | 1,255 | 1,407 |
| Fixed Assets | 648 | 877 | 817 | 769 | 733 | 499 | 464 | 334 | 306 | 315 | 312 | 304 | 291 |
| CWIP | 210 | 22 | 34 | 30 | 21 | 17 | 10 | 13 | 24 | 16 | 18 | 12 | 19 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 |
| Other Assets | 1,369 | 1,505 | 1,690 | 1,978 | 2,230 | 2,728 | 2,444 | 2,714 | 1,743 | 1,382 | 1,281 | 939 | 1,098 |
| Total Assets | 2,228 | 2,405 | 2,541 | 2,778 | 2,984 | 3,244 | 2,918 | 3,061 | 2,072 | 1,715 | 1,612 | 1,255 | 1,407 |
Cash Flow
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 265 | 213 | 322 | 435 | 374 | 412 | 611 | 559 | 399 | 231 | 462 | 438 |
| Investing | 61 | 36 | -155 | -79 | -73 | 66 | 276 | 631 | 651 | 36 | -178 | -11 |
| Financing | -122 | -147 | -180 | -188 | -197 | -183 | -810 | -849 | -1,583 | -878 | -392 | -448 |
| Net Cash Flow | 205 | 102 | -13 | 168 | 104 | 295 | 78 | 341 | -533 | -612 | -109 | -21 |
| Free Cash Flow | 247 | 184 | 253 | 379 | 317 | 337 | 810 | 574 | 412 | 221 | 426 | 413 |
| CFO/OP | 114 | 93 | 101 | 118 | 99 | 96 | 112 | 111 | 94 | 59 | 114 | 111 |
Ratios
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 21 | 24 | 22 | 29 | 21 | 27 | 19 | 18 | 17 | 17 | 42 | 35 |
| Inventory Days | 179 | 173 | 169 | 151 | 154 | 127 | 107 | 110 | 125 | 202 | 186 | 127 |
| Days Payable | 122 | 81 | 79 | 119 | 110 | 100 | 93 | 105 | 109 | 89 | 151 | 79 |
| Cash Conversion Cycle | 78 | 115 | 112 | 61 | 65 | 54 | 33 | 22 | 33 | 130 | 77 | 83 |
| Working Capital Days | 26 | 9 | 79 | 17 | 18 | 35 | -8 | -20 | -19 | 24 | 17 | 7 |
| ROCE % | 22% | 26% | 27% | 26% | 29% | 28% | 32% | 35% | 41% | 71% | 49% | 58% |
Documents
Frequently Asked Questions about Sanofi India Ltd
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Company Information
Sanofi India Limited is amongst the leading multinational companies in the Indian Pharmaceutical Market. It offers a wide array of medicines for therapy areas such as Diabetes, Cardiology, Thrombosis, Central Nervous System and Anti-histamines.[1]