The company actually posted a good set of numbers for Q4 and FY16. But it was the poor guidance for FY17 which pushed down the stock price into the red. It stated that it expects sales to climb between 8 to 10% in FY17, below an average analysts' estimate of a 20%. Chief Executive Dilip Shanghvi also said in a conference call with analysts that profit would be hurt in the near term as Sun Pharma spends heavily on building up its specialty drugs business in the United States, its largest market.

The company posted a 21% (YoY) rise in net sales at Rs.7414 crore of which India sales stood at Rs.1807 crore, up 17%.  US sales rose 19% much below estimates and this was because of supply constraints as five of its factories have been banned due to inadequate manufacturing standards. The company has also come under the USFDA scrutiny over drug prices and the U.S. Department of Justice had subpoenaed it for information on pricing and marketing of its generic drugs. Sales in emerging markets that include Brazil, Mexico, Russia and South Africa were flat due to adverse currency rates. Sales in Rest of the World - Australia and New Zealand as well as some countries in Western Europe fell 6% because the company decided to not participate in some "non-remunerative" businesses.

The company almost doubled its net profit at Rs.1714 crore, up 93%. The R&D investments for the quarter stood at Rs 711 crore, which was 10% of the company's net sales. The company said it was in the process of completing remediation of the Halol plant. For FY16, ANDAs for 22 products were filed and 14 approvals were received.

The Board will be meeting on 23rd June to decide on the buyback of its shares.