Sanofi India’s Q1 operating margin beat healthcare peer median by 1.64 pp
Standalone net profit was Rs 83.5 cr at a 25.65% tax rate; the results were filed after market close.
Filed 04 Aug 2026, 20:21 IST · after market close · Sanofi India Ltd (SANOFI)
Key takeaways
- Sanofi India’s standalone operating margin was 26.34% in Q1FY27, 1.64 percentage points above the 35-company healthcare peer median.
- Standalone net profit was Rs 83.5 cr at a 25.65% tax rate, with EPS of Rs 36.26.
- Revenue of Rs 437.7 cr produced Rs 115.3 cr of operating profit, while profit before tax was Rs 112.3 cr after Rs 8.9 cr of depreciation.
Price around the results
Margin landed above the healthcare peer benchmark
Sanofi India’s standalone operating margin of 26.34% was 1.64 percentage points above the 24.70% median for 35 healthcare companies that had reported the quarter. This makes its operating profitability the clearest positive read from the quarter, despite the absence of a management commentary update.
Profit conversion was shaped by depreciation and tax
Operating profit of Rs 115.3 cr converted to profit before tax of Rs 112.3 cr after Rs 8.9 cr of depreciation and Rs 0.3 cr of interest. Other income contributed Rs 6.2 cr, while tax was Rs 28.8 cr at a 25.65% rate, making the tax line an important part of the reported profit outcome.
The filing was too fresh for a market reaction
The results were filed after market close on 4 August 2026, so there is no same-day stock reaction to assess. The next read will centre on whether the standalone operating margin can sustain its position above the healthcare peer median.
Q1FY27 at a glance
Standalone figures as filed with NSE — cross-checked against an independent source.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹438 cr |
| Other income | ₹6 cr |
| Expenses | ₹322 cr |
| Operating profit | ₹115 cr |
| Operating margin (%) | 26.34% |
| Interest | ₹0 cr |
| Depreciation | ₹9 cr |
| Profit before tax | ₹112 cr |
| Tax | ₹29 cr |
| Net profit | ₹84 cr |
| EPS (₹) | ₹36.26 |
Operating margin of 26.34% compares with a Healthcare sector median of 24.70% across 35 peers that have reported Q1FY27.
What to watch
- Whether standalone operating margin remains above 26.34%.
- Whether the tax rate stays near 25.65%.
- Whether other income remains around Rs 6.2 cr as profit before tax develops.