Lupin, a Rs 3800 crore pharma major from Mumbai, has posted strong growth in top line and bottom line during the year ended March 2009 on account of better export performance and launch of new products The company's consolidated net profit (excluding IP income) has taken quantum jump by 50.2 per cent to Rs 502 crore from Rs 334 crore in the previous year. Its net sales improved by 39.5 per cent to Rs 3776 crore from Rs 2706 crore. The company declared equity dividend of 125 per cent.
Its exports contributed around 65 per cent of turnover and improved by 63.2 per cent to Rs 2470 crore. Advanced markets sales (including Japan and ANZ) increased by 92 per cent over the last year and contributed 50 per cent of the net sales for the year against 30 per cent in the previous year. Its US and EU sales grew by 70 per cent to Rs 1431 crore. Its US sales increased by 36 per cent to Rs 1363 crore. The company has 22 products in US with 8 market leaders.
Its Japanese subsidiary, Kyowa contributed 12 per cent of the overall revenues at Rs 442 crore. Its products like Amlodipine 'Amel' continues to maintain majority market share and Risperidone 'Amel' which was launched last year, continue to exhibit market leadership in unit terms. The company has completed four acquisitions during 2008-09 across Germany, Australia, South Africa and the Philippines. Its domestic formulations business moved up by 24.6 per cent to Rs 1058 crore.
Research & Development expenditure worked out to 6 per cent of the sales. The company filled 28 ANDAs and 15 DMFs in US. It also filed 15 MAAs and two EDMFs during 2008-09. The cumulative ANDA filings were at 90 with 34 approvals granted by the US FDA.
Dr Kamal K Sharma, managing director, said, "Lupin's stellar performance reflects the strong business philosophy guiding us. Lupin has had a very strong year driven by growth and consistent performance across all business segments and markets; a strong business performance in the US, solid domestic growth & increased activity in all key markets. Lupin's acquisitions have not only consolidated our existing presence in these markets but also leaves us strategically poised to further strengthening our position in the global generics and branded generics market. It has indeed been a year of many achievements and robust growth, and poised to not only address market needs but also maintain momentum and direction."
Nilesh Gupta, group president and executive director, said, "Lupin is moving ahead and entering into new markets and looking for future opportunities. It is expanding geographically. US market remained as the growth engine for our business. The overall price cut in world market may put some pressure on revenues. Without considering acquisitions, the organic growth worked out to 24 per cent. The company is adopting cost cutting measures like sourcing raw materials, administrative and tax matters. We have long term R&D plan to maintain our quality."