MACRO INTELLIGENCE MEMO
Sun Pharma: Dilip Shanghvi's Export-Focused Strategy
DATE: June 2030 | SUBJECT: Executive Leadership | CLASSIFICATION: C-Suite Edition
EXECUTIVE SUMMARY
Dilip Shanghvi, Sun Pharma Founder/Chairman, executed focused crisis strategy:
- Maintained AI drug discovery investment (Q2 2029)
- Continued capex on AI platforms despite macro stress
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Rationale: AI represents long-term competitive advantage in drug discovery
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Dividend maintenance (Q2 2030)
- Dividend at ₹4/share maintained
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Signaled confidence in pharma sector resilience and export margins
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Export focus (Q3 2029 onwards)
- Shifted marketing emphasis toward export markets
- Benefited from rupee depreciation (natural hedge)
- Less exposed to Indian consumption collapse
RESULTS
By June 2030: - Stock: -8% (vs. Nifty-50 -34%) - Market cap: $16.2B - Operating margin: 21.8% (stable) - Export revenue: Growing despite macro headwinds - Dividend: Maintained
Shanghvi's leadership: Maintain strategic investment (AI) despite crisis; focus on export opportunity (rupee depreciation); communicate confidence through dividend.
THE 2030 REPORT | Executive Leadership Division | June 2030 | Confidential