Sun Pharma has announced the acquisition of a 26.09% stake in Agatsa Software Private Limited, an early-stage digital diagnostic devices company, for Rs 30 crore in two tranches. The acquisition will be completed in two tranches, with Tranche 1 ($8 million) expected to be completed in February 2023 and Tranche 2 ($22 million) expected to be completed by August 2023, subject to certain conditions, according to the company in a filing.
For Rs.149.9 crore, the Mumbai-based firm also acquired 27.39% of Remidio Innovative Solutions Private Limited, which provides innovative products for the early detection of eye diseases. Meanwhile, Sun Pharmaceutical Industries reported a consolidated net profit of Rs. 2,166 crore for the third quarter of FY23. For the fiscal year under review, the company’s revenue from operations was 11,241 crore.
The company reported an EBITDA of 3,003.7 crore, or earnings before interest, tax, depreciation, and amortisation, with margins of 26.7%. Sun Pharma’s board of directors also declared an interim dividend of $7.50 for the fiscal year ending March 31, 2019.