âś… At a Glance
| Metric | FY25 (Standalone) |
|---|---|
| Revenue from Operations | â‚ą22.06 Cr |
| Other Income | â‚ą2.77 Cr |
| Total Income | â‚ą24.84 Cr |
| Net Loss | â‚ą(377.4) Cr |
| EPS (Basic & Diluted) | â‚ą-10.58 (est.) |
| CMP (May 20, 2025) | â‚ą1,731 |
| Fair Value Estimate | ~₹100–₹150 (LOL) |
They call it Advanced Research because Basic Research doesn’t burn ₹375 Cr per year.
🧬 About the Company
Sun Pharma Advanced Research Company (SPARC) is a clinical-stage biopharma company spun off from Sun Pharma. It focuses on:
- Proprietary NCEs (new chemical entities)
- NDDS (new drug delivery systems)
- Innovation pipelines for oncology, CNS, ophthalmology
But here’s the thing:
It has no commercialised products.
It’s still in drug trials, licensing, or hope mode.
📉 FY25 Financial Breakdown
| Item | FY25 (â‚ą Cr) |
|---|---|
| Revenue from Operations | â‚ą22.06 |
| Other Income | â‚ą2.77 |
| Total Expenses | â‚ą404.1 |
| Net Loss | â‚ą377.4 |
| EPS (Est.) | â‚ą-10.58 |
R&D = â‚ą250+ Cr. Revenue = â‚ą22 Cr.
The business model = “Let’s spend now and pray for USFDA blessings later.”
🔍 Key Observations
- R&D is the biggest cost driver, and it’s rising YoY
- Licensing income seems inconsistent
- Only 1-2 molecules are in late-stage trials
- No blockbuster approval in FY25
🧮 Fair Value (FV) Estimate
No stable earnings = No P/E-based valuation
So let’s do a biotech-style
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