Sun Pharmaceutical Industries today said it is expecting sales growth of around 20% during the current financial year, 2012-13.
"For the financial year 2013 consolidated sales growth guidance is 18 to 20% at constant rupee dollar exchange rate," Sun Pharma Manging Director Dilip Shanghvi said in a conference call today.
The company had posted net sales of Rs 8,005.66 crore for the fiscal ended March 31, 2012. Its net profit was Rs 2,587.25 crore for the year, compared to Rs 1,816.06 crore in 2010-11.
The company will also increase research and development (R&D) spend to 6-8% of net sales for building a strong product pipeline for the global market, he added.
The pharma major is planning a capital expenditure of Rs 500 crore during 2012-13.
"I would expect capital expenditure to be around Rs 500 crore both at existing sights where we may add capacity and at new sites," Shanghvi said.
Its shares were trading at Rs 572.95 in the afternoon trade on BSE, up 1.29% from its previous close.
