Shares of Sun Pharmaceutical Industries hit a multi-year high of Rs 1,048.25 as they rallied 3 per cent on the BSE in Tuesday’s intra-day trade after the drug maker recorded double-digit topline growth, and strong margins in the September quarter (Q2FY23).

In the past two trading days, the stock has gained 6 per cent. It was trading at its highest level since April 2015. The market price of the company is heading towards at its all-time high level of Rs 1,201, which it had touched on April 7, 2015.

In Q2, Sun Pharma reported 13.1 per cent year-on-year (YoY) jump in gross sales at Rs 10,809 crore. The company’s reported earnings before interest, taxes, depreciation, and amortization (Ebitda) margin for Q2 stood at 27 per cent, as against 27.3 per cent in Q2 last year. However, net profit for the quarter grew 10.5 per cent YoY at Rs 2,262 crore impacted by lower other income.

The management said the strong revenue and margins were driven by market share gain in India, sustained ramp-up of the company’s global specialty business, and growth in Emerging Markets. Global specialty business has grown by 27.5 per cent driven by Ilumya, Cequa and Winlevi.

“The company’s specialty R&D pipeline includes 4 molecules undergoing clinical trials. Sun Pharma has a comprehensive product offering in the US market consisting of approved ANDAs for 517 products while filings for 92 ANDAs await US FDA approval, including 28 tentative approvals. For the quarter, 2 approvals were received. Additionally, the portfolio includes 54 approved NDAs while 13 NDAs await US FDA approval,” the company said in a press release.