ABSTRACT
Indian pharmaceutical industry is one of the fastest-growing segments of Indian manufacturing sector. Globally, Indian pharmaceutical industry stands at fourth position in terms of volume with a share of 8 percent in the world pharmaceuticals market. The industry is fragmented with more than 25,000 registered units, of which 300 units are large and medium-scale units. In terms of value, however, top twenty players control more than 50 percent of total market. The major investments in Sun Pharma and Novartis have been in the buildings and the plant and machinery. The long-term assets are being financed by internal financing in Sun Pharma, whereas in Novartis there are no funds raised on short-term or long-term basis. Cipla's major source of financing for all these years was long-term loans. Regarding risk element, profit after tax (PAT) has been found to be sensitive to sales in all the cases.
