Board Change • May 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Additional Independent Director Rajani Kesari was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 20
Sanofi India Limited to Report Q1, 2026 Results on Apr 28, 2026 Sanofi India Limited announced that they will report Q1, 2026 results on Apr 28, 2026 Upcoming Dividend • Apr 15
Upcoming dividend of ₹48.00 per share Eligible shareholders must have bought the stock before 22 April 2026. Payment date: 28 May 2026. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 3.5%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.8%). Reported Earnings • Apr 04
Full year 2025 earnings released: EPS: ₹142 (vs ₹136 in FY 2024) Full year 2025 results: EPS: ₹142 (up from ₹136 in FY 2024). Revenue: ₹18.6b (down 7.8% from FY 2024). Net income: ₹3.27b (up 4.1% from FY 2024). Profit margin: 18% (up from 16% in FY 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.9% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Pharmaceuticals industry in India. Over the last 3 years on average, earnings per share has fallen by 23% per year whereas the company’s share price has fallen by 18% per year. Declared Dividend • Mar 27
Dividend of ₹48.00 announced Shareholders will receive a dividend of ₹48.00. Ex-date: 22nd April 2026 Payment date: 29th May 2026 Dividend yield will be 3.9%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is not covered by earnings (131% earnings payout ratio). However, it is covered by cash flows (61% cash payout ratio). The dividend has increased by an average of 8.6% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 46% to bring the payout ratio under control. EPS is expected to grow by 15% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Mar 25
Sanofi India Limited, Annual General Meeting, Apr 29, 2026 Sanofi India Limited, Annual General Meeting, Apr 29, 2026, at 15:30 Indian Standard Time. Buy Or Sell Opportunity • Mar 25
Now 20% overvalued Over the last 90 days, the stock has fallen 19% to ₹3,318. The fair value is estimated to be ₹2,760, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 21%. Revenue is forecast to grow by 6.5% in 2 years. Earnings are forecast to grow by 16% in the next 2 years. Price Target Changed • Feb 27
Price target decreased by 12% to ₹5,521 Down from ₹6,271, the current price target is an average from 3 analysts. New target price is 39% above last closing price of ₹3,965. Stock is down 21% over the past year. The company is forecast to post earnings per share of ₹162 for next year compared to ₹136 last year. Announcement • Feb 19
Sanofi India Limited to Report Q4, 2025 Results on Feb 25, 2026 Sanofi India Limited announced that they will report Q4, 2025 results on Feb 25, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: ₹32.99 (vs ₹35.69 in 3Q 2024) Third quarter 2025 results: EPS: ₹32.99 (down from ₹35.69 in 3Q 2024). Revenue: ₹4.80b (down 8.3% from 3Q 2024). Net income: ₹760.0m (down 7.5% from 3Q 2024). Profit margin: 16% (in line with 3Q 2024). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Pharmaceuticals industry in India. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Oct 28
Sanofi India Limited Announces Managing Director Changes Sanofi India Limited announced Deepak Arora's appointment as its new Managing Director, effective 27 October 2025. Arora's appointment marks a significant leadership change for the company as it aims to align its strategic vision with global objectives. The company also announced that Rachid Ayari has stepped down as Interim Managing Director, effective 26 October 2025. Ayari, who assumed the interim role on 21 July 2025, will continue to serve the company as Whole-time Director and Chief Financial Officer. In this role, Arora will define and drive the strategic vision for India in alignment with Sanofi's global strategy, the company said in an official press release. He will also spearhead strategic priorities to accelerate innovation and agility throughout the organization, while fostering operational excellence across all functions. Furthermore, Deepak will champion the Company's Diversity, Equity, and Inclusion culture to bring core values to life, the company said. Arora brings over 30 years of experience in the pharmaceutical and healthcare industry, with a career spanning North America, Europe, the Middle East, and Africa. His expertise includes leadership roles in commercial, sales and marketing, and general management, where he has been instrumental in acquiring businesses and driving sustainable growth. Arora's educational background includes a Bachelor's degree in Botany and Zoology from the University of Lucknow and an MBA from the Indira Gandhi National Open University. He has been appointed as Managing Director for a term of three years, starting from 27 October 2025. Announcement • Oct 23
Sanofi India Limited to Report Q3, 2025 Results on Oct 29, 2025 Sanofi India Limited announced that they will report Q3, 2025 results at 9:15 AM, Indian Standard Time on Oct 29, 2025 Price Target Changed • Aug 09
Price target decreased by 7.5% to ₹6,305 Down from ₹6,814, the current price target is an average from 3 analysts. New target price is 21% above last closing price of ₹5,200. Stock is down 21% over the past year. The company is forecast to post earnings per share of ₹164 for next year compared to ₹136 last year. Reported Earnings • Aug 02
Second quarter 2025 earnings released: EPS: ₹30.18 (vs ₹29.61 in 2Q 2024) Second quarter 2025 results: EPS: ₹30.18 (up from ₹29.61 in 2Q 2024). Revenue: ₹4.15b (down 11% from 2Q 2024). Net income: ₹695.0m (up 1.9% from 2Q 2024). Profit margin: 17% (up from 15% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.7% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Pharmaceuticals industry in India. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Jul 18
Sanofi India Limited to Report Q2, 2025 Results on Jul 31, 2025 Sanofi India Limited announced that they will report Q2, 2025 results on Jul 31, 2025 Announcement • May 10
Sanofi India Limited to Report Q1, 2025 Results on May 14, 2025 Sanofi India Limited announced that they will report Q1, 2025 results on May 14, 2025 Reported Earnings • Apr 25
Full year 2024 earnings released: EPS: ₹136 (vs ₹158 in FY 2023) Full year 2024 results: EPS: ₹136 (down from ₹158 in FY 2023). Revenue: ₹20.1b (flat on FY 2023). Net income: ₹3.14b (down 14% from FY 2023). Profit margin: 16% (down from 18% in FY 2023). Revenue is forecast to grow 2.1% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Pharmaceuticals industry in India. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 18
Upcoming dividend of ₹117 per share Eligible shareholders must have bought the stock before 25 April 2025. Payment date: 14 June 2025. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 1.9%. Within top quartile of Indian dividend payers (1.3%). Higher than average of industry peers (0.8%). Declared Dividend • Mar 20
Dividend of ₹117 announced Shareholders will receive a dividend of ₹117. Ex-date: 25th April 2025 Payment date: 14th June 2025 Dividend yield will be 84%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by both earnings (86% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 39% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 19
Sanofi India Limited, Annual General Meeting, May 15, 2025 Sanofi India Limited, Annual General Meeting, May 15, 2025, at 15:30 Indian Standard Time. Reported Earnings • Mar 01
Full year 2024 earnings released: EPS: ₹136 (vs ₹262 in FY 2023) Full year 2024 results: EPS: ₹136 (down from ₹262 in FY 2023). Revenue: ₹20.3b (down 29% from FY 2023). Net income: ₹3.14b (down 48% from FY 2023). Profit margin: 16% (down from 21% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Pharmaceuticals industry in India. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Announcement • Feb 28
Sanofi India Limited Recommends Final Dividend for the Financial Year Ended 31 December 2024 Sanofi India Limited announced that at its board meeting held on 27 February 2025, recommended a final dividend of INR 117 per equity share of the face value of 10 each for the Financial Year ended 31 December 2024, subject to the approval of Shareholders at the upcoming 69th Annual General Meeting. Announcement • Feb 14
Sanofi India Limited to Report Q4, 2024 Results on Feb 27, 2025 Sanofi India Limited announced that they will report Q4, 2024 results on Feb 27, 2025 Announcement • Feb 11
Sanofi India Limited Appoints Arjun Thakkar as the Company Secretary and Compliance Officer, Effective February 12, 2025 Sanofi India Limited at the Board of Directors at its meeting held 11th February 2025, based on the recommendation of the Nomination and Remuneration Committee, have approved the appointment of Mr. Arjun Thakkar
(Membership No.: A22654) as the Company Secretary and Compliance Officer of the Company, designated as a Key Managerial Personnel, with effect from 12th February, 2025. A Legal & Compliance professional with 19 years of diversified experience, currently serving as Compliance Business Partner for Sanofi India. Proven history in overseeing Legal & Compliance functions, contributing to sustainable growth through ethical business practices and compliance with anti-corruption laws. Skilled in risk assessment, policy implementation, and conducting internal investigations. Previously associated with SMITH & NEPHEW, CAPITA and A.K. Jain & Co. He is an associate member of Institute of Company Secretaries of India and holds a degree in Law (LLB) and Bachelor of Commerce. Reported Earnings • Nov 08
Third quarter 2024 earnings released: EPS: ₹35.69 (vs ₹65.95 in 3Q 2023) Third quarter 2024 results: EPS: ₹35.69 (down from ₹65.95 in 3Q 2023). Revenue: ₹5.26b (down 26% from 3Q 2023). Net income: ₹822.0m (down 46% from 3Q 2023). Profit margin: 16% (down from 21% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 11% growth forecast for the Pharmaceuticals industry in India. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Oct 17
Sanofi India Limited to Report Q3, 2024 Results on Nov 07, 2024 Sanofi India Limited announced that they will report Q3, 2024 results on Nov 07, 2024 Announcement • Sep 04
Sanofi India Limited Announces Resignation of Radhika Shah as Head of Legal and Company Secretary Sanofi India Limited informed that Ms. Radhika Shah, Head of Legal and Company Secretary, has tendered her resignation from the Company to pursue other opportunities outside Sanofi. The effective date of her resignation will be communicated in due course. A copy of her resignation email is enclosed. The Company places on record its appreciation for her contributions during her tenure with the Company. The Company is in the process of filling the resultant vacancy, and details about the successor will be intimated as and when the appointment is made. Announcement • Aug 30
Sanofi India Limited Announces Cessation of Cyrus Aibara as Senior Director Diabetes Sanofi India Limited informed that Mr. Cyrus Aibara, Senior Director Diabetes will cease to be an employee with effect from the close business hours on 30th August, 2024. Accordingly, he will cease to be a part of the Senior Management Personnel of the Company from the said date. The Company places on record appreciation for his contributions during his tenure with the Company. The Company had informed in its communication dated 21st June, 2024 regarding appointment of Mr. Suresh Babu as the Sales and Customer Engagement Head, Diabetes who has succeeded Mr. Cyrus Aibara in the new role. Price Target Changed • Aug 02
Price target decreased by 9.1% to ₹8,501 Down from ₹9,351, the current price target is an average from 5 analysts. New target price is 29% above last closing price of ₹6,567. The company is forecast to post earnings per share of ₹196 for next year compared to ₹262 last year. New Risk • Aug 01
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings are forecast to decline by an average of 8.5% per year for the foreseeable future. High level of non-cash earnings (68% accrual ratio). Minor Risk Dividend is not well covered by cash flows (134% cash payout ratio). Reported Earnings • Jul 27
Second quarter 2024 earnings released: EPS: ₹29.61 (vs ₹53.37 in 2Q 2023) Second quarter 2024 results: EPS: ₹29.61 (down from ₹53.37 in 2Q 2023). Revenue: ₹4.68b (down 34% from 2Q 2023). Net income: ₹682.0m (down 45% from 2Q 2023). Profit margin: 15% (down from 17% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Pharmaceuticals industry in India. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Jul 18
Sanofi India Limited Announces Resignation of Nitin Joshi, Head - Supply Chain, Effective 31 July 2024 Sanofi India Limited announced that Mr. Nitin Joshi, Head - Supply Chain, has tendered his resignation from the Company, effective from the close of business hours on 31 July 2024, to pursue other opportunities outside Sanofi. As a result of his resignation, he will also cease to be a Senior Management Personnel of the Company. Announcement • Jul 09
Sanofi India Limited to Report Q2, 2024 Results on Jul 26, 2024 Sanofi India Limited announced that they will report Q2, 2024 results at 3:30 PM, Indian Standard Time on Jul 26, 2024 Announcement • Jul 04
Sanofi India Limited Announces Resignation of Shalini Menon, General Medicines Medical Head and India Medical Lead, Effective July 5, 2024 Sanofi India Limited announced the resignation of Dr. Shalini Menon, General Medicines Medical Head and India Medical Lead and indicated that her last working day would be determined mutually, please be advised that her last working day will be 5th July 2024. Consequently, she will also cease to be Senior Management Personnel of the Company as of that date. Board Change • Jul 01
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Rahul Bhatnagar was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 24
Sanofi India Limited Appoints N. Suresh Babu as Sales & Customer Engagement Head Diabetes, Effective July 1, 2024 Sanofi India Limited announced that Mr. N. Suresh Babu has been appointed as the Sales & Customer Engagement Head Diabetes, effective July 1, 2024. He will be a member of the Senior Management Personnel of the Company. Mr. N. Suresh Babu has a successful track record in Sanofi for more than 20 years delivering profitable performances in every role. Of his career spanning 25 years, Suresh had spent more than 20 years with various roles in Diabetes therapy area and had been instrumental in propellingLantus to 2nd rank in the Indian Pharmaceutical Market (IPM) during his tenure among other achievements. Suresh had been instrumental in reviving & transforming Transplants business to aggressive growth path during his previous stint as Head of Renal & transplants business Unit. Currently, as Head of Business Operations & Support, Suresh has led transformative projects aligned with the "India for India" strategy. A graduate in pharmacy, he has further enhanced his expertise by completing an Executive Post Graduate Program in General Management at IIM-K. New Risk • Jun 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Dividend is not well covered by cash flows (196% cash payout ratio). Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹10,052, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 32x in the Pharmaceuticals industry in India. Total returns to shareholders of 55% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹4,749 per share. Reported Earnings • May 14
First quarter 2024 earnings released: EPS: ₹59.31 (vs ₹82.67 in 1Q 2023) First quarter 2024 results: EPS: ₹59.31 (down from ₹82.67 in 1Q 2023). Revenue: ₹7.39b (flat on 1Q 2023). Net income: ₹1.37b (down 28% from 1Q 2023). Profit margin: 19% (down from 26% in 1Q 2023). Revenue is forecast to grow 10.0% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Pharmaceuticals industry in India. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 26
Upcoming dividend of ₹117 per share Eligible shareholders must have bought the stock before 03 May 2024. Payment date: 13 June 2024. Payout ratio is a comfortable 64% but the company is paying out more than the cash it is generating. Trailing yield: 2.0%. Within top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.7%). Announcement • Apr 16
Sanofi India Limited Announces Appointment of Flovie Martins as Head of Corporate Communications and Corporate Social Responsibility Sanofi India Limited announced Flovie Martins has shared a significant milestone in her career journey. In her social post, she has announced her new role as the Head of Corporate Communications and Corporate Social Responsibility at Sanofi's Consumer Healthcare Company. With over two decades of experience in communications, Flovie brings a wealth of expertise to her new role. Her extensive background includes brand building, internal and external communications, digital outreach, social impact campaigns, crisis management, and more. Having worked across diverse industries such as FMCG/Retail, Healthcare/Pharma, Education, Lifestyle, and Corporate, Flovie has demonstrated her ability to drive impactful communication strategies. In her new position, Flovie will be responsible for the strategic development and execution of internal communications, brand PR, public affairs, CSR initiatives, and leadership counsel in India. She is excited to collaborate with a talented team to amplify Sanofi's message, foster partnerships, and drive progress in the dynamic Indian healthcare sector. Announcement • Mar 29
Sanofi India Limited Announces Resignation of Marc-Antoine Lucchini as Non-Executive Director from the Board of Directors, Member of the Nomination and Remuneration Committee Sanofi India Limited announced that Mr. Marc-Antoine Lucchini (DIN: 08812302), Non-Executive Director, has vide his letter dated 28th March 2024, resigned from the Board of Directors of the Company with effect from the close of business hours on 28th March 2024, to pursue other opportunities outside Sanofi. Consequently, he shall also cease to be a Member of the Nomination and Remuneration Committee of the Company. Declared Dividend • Mar 08
Final dividend of ₹117 announced Shareholders will receive a dividend of ₹117. Ex-date: 3rd May 2024 Payment date: 13th June 2024 Dividend yield will be 2.0%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by earnings (64% earnings payout ratio) but not covered by cash flows (196% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 20% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Feb 29
Upcoming dividend of ₹50.00 per share Eligible shareholders must have bought the stock before 07 March 2024. Payment date: 20 March 2024. Payout ratio is a comfortable 64% but the company is paying out more than the cash it is generating. Trailing yield: 1.9%. Within top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.7%). Price Target Changed • Feb 28
Price target increased by 8.8% to ₹9,371 Up from ₹8,612, the current price target is an average from 5 analysts. New target price is 5.9% above last closing price of ₹8,845. Stock is up 52% over the past year. The company is forecast to post earnings per share of ₹282 for next year compared to ₹262 last year. Reported Earnings • Feb 24
Full year 2023 earnings released: EPS: ₹262 (vs ₹269 in FY 2022) Full year 2023 results: EPS: ₹262 (down from ₹269 in FY 2022). Revenue: ₹29.2b (up 5.3% from FY 2022). Net income: ₹6.03b (down 2.9% from FY 2022). Profit margin: 21% (down from 22% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.1% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Pharmaceuticals industry in India. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Feb 24
Sanofi India Limited, Annual General Meeting, May 14, 2024 Sanofi India Limited, Annual General Meeting, May 14, 2024. Agenda: To consider recommended a final dividend for the Financial Year ended 31December 2023. Announcement • Jan 25
Sanofi India Limited to Report Q4, 2023 Results on Feb 23, 2024 Sanofi India Limited announced that they will report Q4, 2023 results on Feb 23, 2024 Announcement • Jan 10
Sanofi India Limited Appoints Radhika Shah as Head of Legal, Effective 15 January 2024 Sanofi India Limited announced that Ms. Radhika Shah to assume additional role of Head of Legal, in addition to her existing role as, company secretary of the company with effect from 15 January 2024. Kindly note that she will continue to be Key Managerial Person and part of the Senior Management Personnel of the company. Ms. Radhika Shah has over 20 years of experience in Legal and Corporate Secretarial fields. In the past, she has spearheaded the Corporate Secretarial and Compliance functions including handling Corporate Governance matters. She was also responsible for Anti-trust compliance & litigation and was actively involved in Mergers & Acquisitions. Prior to Sanofi, she worked with Asian Paints & the Reliance group. Since joining Sanofi in 2021, Radhika has played a key role in successfully leading the Corporate Secretary function, Sanofi India's Governance and Legal Restructuring matters of the listed entity and worked closely with the Board of Directors and Committees. She has also led the implementation and reporting for ESG for the listed entity. She has successfully led the Legal Demerger of the Consumer Healthcare Business, which is currently subject to legal approvals and the autonomous operation of Consumer Healthcare businesses. She has been part of the India Leadership Team and partnered closely with leadership and the Board to support the successful implementation of the business strategy. Radhika is a Company Secretary from Institute of Company Secretaries of India and holds an L.L.B. from J.C. College of Law, Mumbai University. Price Target Changed • Nov 17
Price target increased by 12% to ₹8,392 Up from ₹7,491, the current price target is an average from 5 analysts. New target price is 8.9% above last closing price of ₹7,703. Stock is up 39% over the past year. The company is forecast to post earnings per share of ₹256 for next year compared to ₹269 last year. Reported Earnings • Nov 09
Third quarter 2023 earnings released: EPS: ₹65.95 (vs ₹56.84 in 3Q 2022) Third quarter 2023 results: EPS: ₹65.95 (up from ₹56.84 in 3Q 2022). Revenue: ₹7.26b (up 5.0% from 3Q 2022). Net income: ₹1.52b (up 16% from 3Q 2022). Profit margin: 21% (up from 19% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.9% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Pharmaceuticals industry in India. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 1% per year. Announcement • Oct 20
Sanofi India Limited to Report Q3, 2023 Results on Nov 08, 2023 Sanofi India Limited announced that they will report Q3, 2023 results on Nov 08, 2023 Announcement • Oct 17
Sanofi India Limited Appoints Surabhi Kaul as India People Director and Will Be Part of the Senior Management Personnel Sanofi India Limited informed that with effect from 16th October 2023, Ms. Surabhi Kaul is appointed as India People Director and will be part of the Senior Management Personnel of the Company. Ms. Surabhi Kaul has over 20 years of experience mainly in multi-national organizations across the IT and Pharma sectors, Surabhi brings with her a proven record of delivering on large scale change and transformation strategies. Since joining Sanofi in 2021, Surabhi has played a key role in actualizing the Sanofi India strategy in line with global priorities and creating a future fit organization. Additionally, as the Culture Lead for India, she has been actively steering the Company's efforts to create a winning culture that is focused on delivering outstanding business performance. Surabhi holds a Post Graduate degree in Strategy and Marketing from Indian School of Business (ISB) Hyderabad. Board Change • Oct 06
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Rahul Bhatnagar was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 27
Sanofi India Limited Announces Executive Changes Sanofi India Limited informed that Mr. Mathew Cherian, Whole-time Director of the Company, will be moving into another role within Sanofi group. As a result of such movement, he shall cease to be a Whole-time Director of the Company and shall also cease to be a member of Board and Risk Management Committee effective from the close of business hours on 26th September 2023. The Company and the Board places on record its appreciation for the contribution made by Mr. Mathew Cherian during his tenure as Director of the Company. The said change was noted by the Board of Directors at its meeting held on 26th September 2023 which concluded at 5:00 p.m. Company also informed that at the said Board Meeting, based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors of the Company have approved the appointment of Ms. Renee Amonkar as an Additional and Whole-time Director of the Company for a period of three (3) years with effect from 26th September 2023, in place of outgoing Director, subject to the approval of the Members of the Company through Postal Ballot. A brief profile of Ms. Renee Amonkar is enclosed as `Annexure I'. Renee is a pharmacist by profession with more than 30 years of Industrial experience in various Fields of Pharma manufacturing and supply. She started her journey as a Research & Development Pharmacist and then moved on to be an executive in packing at E-Merck India. She Joined Sanofi in Dec 1997 in packaging and grew to be head of manufacturing before becoming the Head of the Goa manufacturing site 2021. Renee is responsible for framing various strategies and ensuring execution of Sanofi Global Transformation Initiatives for Manufacturing and Supply in India along with Sanofi Leadership team. She has played a key role in driving Sanofi India's Strategy of India for India for local manufacturing, and supply and business continuity. As a Part of Planet mobilization and ESG initiatives, she has been actively involved in introducing SOLAR electricity generation at Goa and various water stewardship initiatives like reduction in water consumption for cleaning, and Rain-water collection. Announcement • Sep 15
Sanofi India Limited Announces Resignation of Vinita Korti Patil as Senior Legal Director - South Asia, Effective 7 December 2023 Sanofi India Limited announced that Ms. Vinita Korti Patil, senior legal director - South Asia, has tendered her resignation from the company, effective from the close of business hours on 7 December 2023 to pursue other opportunities outside Sanofi. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: ₹53.37 (vs ₹52.28 in 2Q 2022) Second quarter 2023 results: EPS: ₹53.37 (up from ₹52.28 in 2Q 2022). Revenue: ₹7.22b (up 3.2% from 2Q 2022). Net income: ₹1.23b (up 2.1% from 2Q 2022). Profit margin: 17% (in line with 2Q 2022). Revenue is forecast to grow 5.2% p.a. on average during the next 2 years, compared to a 9.8% growth forecast for the Pharmaceuticals industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Aug 04
Sanofi India Limited Announces Resignation of Gaurav Bahadur as People Director Sanofi India Limited announced that Mr. Gaurav Bahadur, India People Director, resigned from the Company with effect from the close of business hours on 1st August, 2023, to pursue other opportunities outside Sanofi. As a result, he shall also cease to be a Senior Management Personnel of the Company. Board Change • Aug 03
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Rahul Bhatnagar was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jul 26
Sanofi India Limited to Report Q2, 2023 Results on Aug 10, 2023 Sanofi India Limited announced that they will report Q2, 2023 results on Aug 10, 2023 Announcement • Jul 22
Sanofi India Limited Announces Resignation of Annapurna Das as Non-Executive Director and Member of the Audit Committee, Effective 31 July 2023 Sanofi India Limited announced that Ms. Annapurna Das, Non-Executive Director has vide her letter dated 19 July 2023, resigned from the Board of Directors of the company with effect from the close of business hours on 31 July 2023 to pursue other opportunities outside Sanofi. Consequently, she shall also cease to be a Member of the Audit Committee of the Company. Price Target Changed • May 12
Price target increased by 7.6% to ₹6,996 Up from ₹6,503, the current price target is an average from 4 analysts. New target price is 8.6% above last closing price of ₹6,444. Stock is down 4.6% over the past year. The company posted earnings per share of ₹269 last year. Reported Earnings • Apr 21
Full year 2022 earnings released: EPS: ₹269 (vs ₹410 in FY 2021) Full year 2022 results: EPS: ₹269 (down from ₹410 in FY 2021). Revenue: ₹27.7b (down 6.3% from FY 2021). Net income: ₹6.21b (down 34% from FY 2021). Profit margin: 22% (down from 32% in FY 2021). The decrease in margin was primarily driven by higher expenses. Post-clinical trial products Approved (during full year): 3 Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Price Target Changed • Mar 01
Price target decreased by 7.9% to ₹6,604 Down from ₹7,174, the current price target is an average from 6 analysts. New target price is 14% above last closing price of ₹5,813. Stock is down 20% over the past year. The company posted earnings per share of ₹269 last year. Price Target Changed • Feb 24
Price target decreased by 8.5% to ₹6,986 Down from ₹7,638, the current price target is an average from 6 analysts. New target price is 26% above last closing price of ₹5,563. Stock is down 23% over the past year. The company posted earnings per share of ₹269 last year. Announcement • Feb 08
Sanofi India Limited to Report Q4, 2022 Results on Feb 23, 2023 Sanofi India Limited announced that they will report Q4, 2022 results on Feb 23, 2023 Board Change • Dec 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Additional Non-Executive & Non-Independent Director Annapurna Das was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Third quarter 2022 earnings released: EPS: ₹56.84 (vs ₹230 in 3Q 2021) Third quarter 2022 results: EPS: ₹56.84 (down from ₹230 in 3Q 2021). Revenue: ₹6.92b (down 8.3% from 3Q 2021). Net income: ₹1.31b (down 75% from 3Q 2021). Profit margin: 19% (down from 70% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 29
Upcoming dividend of ₹193 per share Eligible shareholders must have bought the stock before 05 August 2022. Payment date: 22 August 2022. Payout ratio is a comfortable 43% but the company is paying out more than the cash it is generating. Trailing yield: 2.9%. Within top quartile of Indian dividend payers (1.8%). Higher than average of industry peers (1.0%). Price Target Changed • Jul 28
Price target decreased to ₹7,800 Down from ₹8,624, the current price target is provided by 1 analyst. New target price is 23% above last closing price of ₹6,340. Stock is down 22% over the past year. The company posted earnings per share of ₹410 last year. Reported Earnings • Jul 27
Second quarter 2022 earnings released: EPS: ₹52.28 (vs ₹77.42 in 2Q 2021) Second quarter 2022 results: EPS: ₹52.28 (down from ₹77.42 in 2Q 2021). Revenue: ₹6.99b (down 11% from 2Q 2021). Net income: ₹1.20b (down 33% from 2Q 2021). Profit margin: 17% (down from 23% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: ₹104 (vs ₹63.35 in 1Q 2021) First quarter 2022 results: EPS: ₹104 (up from ₹63.35 in 1Q 2021). Revenue: ₹7.31b (flat on 1Q 2021). Net income: ₹2.38b (up 63% from 1Q 2021). Profit margin: 33% (up from 20% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Rahul Bhatnagar was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 07
Upcoming dividend of ₹490 per share Eligible shareholders must have bought the stock before 14 April 2022. Payment date: 04 May 2022. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.3%. Within top quartile of Indian dividend payers (1.4%). Higher than average of industry peers (0.9%). Reported Earnings • Apr 03
Full year 2021 earnings released: EPS: ₹410 (vs ₹207 in FY 2020) Full year 2021 results: EPS: ₹410 (up from ₹207 in FY 2020). Revenue: ₹29.6b (up 1.9% from FY 2020). Net income: ₹9.44b (up 98% from FY 2020). Profit margin: 32% (up from 17% in FY 2020). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. 
