Lupin Ltd. Results

Q2FY25 Quarterly Result Announced for Lupin Ltd.

Pharmaceuticals company Lupin announced Q2FY25 results Gross Profit was Rs 38,071 million compared to Rs 32,365 million in Q2FY24, with gross margin of 69.3%. Employee Benefits cost was 18.3% of sales at Rs 10,075 million compared to Rs 8,607 million in Q2FY24. Manufacturing and other expenses were at 30.3% of sales at Rs 16,670 million compared to Rs 15,520 million in Q2FY24. PBT was 19.2% at Rs 10,549 million on account of better performance of Q2FY25 rising from PBT of Rs 6,297 million in Q2FY24 by over 67.5%. EBITDA: Rs 13,827 million with margin of 25.2% for Q2FY25. Investment in R&D; for the quarter was Rs 4,481 million (8.2% of sales). Nilesh Gupta, Managing Director, Lupin, said: “The second quarter of FY25 reflects continued strength in our business across regions. With 40% of our U.S. revenues now coming from complex generics, India back to double-digit growth and our pipeline delivering consistently, we aim to continue improving our performance aided by sustained operating efficiencies and investment in technology”.

Q1FY25 Quarterly Result Announced for Lupin Ltd.

Pharmaceuticals company Lupin announced Q1FY25 results: Gross Profit was Rs 37,697 million compared to Rs 33,213 million in Q4FY24, with gross margin of 68.4%. Personnel cost was 17.6% of sales at Rs 9,710 million compared to Rs 9,002 million in Q4FY24. Manufacturing and other expenses were at 29.0% of sales at Rs 15,985 million compared to Rs 14,901 million in Q4FY24. PBT was 18% at Rs 9,930 million on account of better performance of Q1FY25 and an impairment charge of Rs 2,013 million in Q4FY24. Investment in R&D; for the quarter was Rs 3,500 million (6.3% of sales). Operating working capital was Rs 61,686 million. Capital Expenditure for the quarter was Rs 1,117 million. Net Debt as on June 30, 2024 stands at Rs (195) million. Net Debt-Equity as on June 30,2024 stands at 0.00. Commenting on the results, Nilesh Gupta, Managing Director, Lupin Limited said, “We have had a strong quarter on the back of the momentum we built through FY24, with performance driven by new products, key geographies, and improvement in our operating margin and profitability. We are on track for strong, sustainable growth and margin improvement backed by growth in sales, commercial and operating efficiencies, and a strong compliance story.”

Q4FY24 Quarterly Result Announced for Lupin Ltd.

Pharmaceuticals company Lupin announced Q4FY24 results: Financial Highlights: Gross Profit was Rs 33,213 million compared to Rs 33,538 million in Q3FY24, with gross margin of 67.8%. Personnel cost was 18.4% of sales at Rs 9,002 million compared to Rs 8,892 million in Q3FY24. Manufacturing and other expenses were 30.4% of sales at Rs 14,901 million compared to Rs 15,602 million in Q3FY24. PBT was lower in Q4FY24 on account of impairment charge of Rs 2,013 million. Investment in R&D; for the quarter was Rs 4,255 million (8.7% of sales). Operating working capital was Rs 56,913 million as on March 31, 2024. Capital Expenditure for the quarter was Rs 1,059 million. Net Debt as on March 31, 2024 stands at Rs 4,766 million. Net Debt-Equity as on March 31, 2024 stands at 0.03. Commenting on the results, Nilesh Gupta, Managing Director, Lupin Limited said, “We continue to move forward with sustainable and profitable growth and delivered another strong set of numbers in Q4. Our U.S. sales remain healthy driven by inhalation products, and our India formulation business is delivering ahead of market. While FY24 has been a year of resurgence for the company, we look forward to an even stronger FY25 driven by growth across our key geographies and consistent improvement in our margins”.

Q3FY24 Quarterly Result Announced for Lupin Ltd.

Pharmaceuticals company Lupin announced Q3FY24 results: Financial Performance Sales: For Q3FY24, sales were reported at Rs 50,799 million, reflecting a QoQ growth of 2.8% from Rs 49,392 million and a YoY growth of 19.7% from Rs 42,446 million. EBITDA: EBITDA for the quarter stood at Rs 10,673 million, an increase of 11.4% over Q2FY24's figure of Rs 9,582 million, and a substantial increase of 93.8% from Q3FY23's Rs 5,506 million. EBITDA Margin: The EBITDA margin improved by 160 basis points to 21.0% in Q3FY24 from 19.4% in Q2FY24, and showed a significant rise from 13.0% in Q3FY23. PBT: Profit before tax (PBT) for the quarter reached Rs 7,361 million, marking an increase of 16.9% from Q2FY24 and nearly a two-fold growth of 199.1% from Q3FY23. Net Debt: Net debt as of December 31, 2023, stands at Rs 10,425 million with a low net debt-equity ratio of 0.07. Capital Expenditure: The company reported capital expenditure of Rs 1,848 million for the quarter. Operational Highlights North America: Representing 37% of global sales, North America's sales were Rs 18,885 million, a modest growth from both the previous quarter and YoY figures. India: Indian operations, contributing 34% to global sales, grew to Rs 17,251 million for the quarter, outpacing market growth and showcasing robust performance YoY. Growth Markets: Comprising LATAM and APAC regions, sales were Rs 4,729 million, continuing an upward trajectory from the previous quarter and the same quarter of the previous year. EMEA: Sales in the EMEA region, constituting 10% of global sales, reported Rs 5,170 million, indicating a strong upward movement compared to both Q2FY24 and Q3FY23. Global API: Global API sales reported a slight QoQ increase and a minimal YoY decline, with sales reaching Rs 2,779 million. Research and Development Investment: R&D; investments stood at Rs 3,567 million, accounting for 7.0% of the sales. Approvals and Filings: Lupin received 14 ANDA approvals and launched 3 products in the U.S. during the quarter, bringing the total amount of generic products in the U.S. to 159. Commenting on the results, Nilesh Gupta, Managing Director, Lupin, said, “We delivered our highest quarterly sales to date and crossed the 5,000 crore mark for the first time, driven by strong growth across geographies. The U.S. continues to do well driven by demand for both inline products and new launches, and the India business continues to grow ahead of the market with strong growth across our key therapies. This positive growth momentum coupled with cost optimization measures and operating leverage has helped us deliver solid performance�