SUN Earnings Review 4Q FY25 / Bartleet Religare Securities – 12.06.2025 Healthcare driven, Consumer revival, Agri steady – BUY 💰 SUN reported an EPS of LKR 0.45 for 4Q FY25, along with the PATMI growth of 72.6% YoY to LKR 877.1mn. 🏥 Pharma manufacturing, pharmaceuticals & distribution and medical device businesses to collectively drive the Healthcare segment. 💊 Capacity enhancements to Metered Dose Inhaler (MDI) lines already completed and enhancements to the tablet line to be carried out within the year. ☕ Tea export margins to benefit from a more favorable mix, sustained market leadership in domestic tea. 🍭 Confectionary volumes to bounce back from 2H FY26E. 🌴 Strong outlook on mid to long term global palm oil prices and gradual increase in crop volumes. 📈 LKR 30.00 Target Price – Upside 25.0%: Healthcare segment remains the key value contributor while a rebound in Consumer sector and steady yields from Agri to drive the upside beyond our previous TP to LKR 30.00 (from LKR 27.00). BUY. 🎯 Target Price – LKR 30.00 (Upside 25.0%) 🔗 Full report: [https://research.bartleetreligare.com/reports/sunshine-holdings-plc-sun-sl-4q-fy25-1211] #earningsreview #stockmarket #equityresearch