Lupin, the fifth largest pharmaceutical company in India, has managed a meager growth in consolidated net profit of 0.6 per cent during the year ended March 2012 to Rs.868 crore as against Rs.862 crore in the previous year as its tax provision went up to Rs.309 crore from Rs.115 crore. The EBDITA increased by 21.7 per cent to Rs.1,460 crore from Rs.1,200 crore. Lupin's earnings per share worked out to Rs.20.70 as compared to Rs.19.36 in the last year. The company declared equity dividend of 160 per cent for the year ended March 2012.
R&D expenditure increased to Rs.523 crore from Rs.483 crore, a growth of 8.3 per cent. Its filed 25 ANDAs during the year and its cumulative ANDA filings with the US FDA rose to 173 with the company having received 64 approvals to date. Cumulative filings with the European regulatory authorities stand at 127 with the company having received 58 approvals.
The company's consolidated net sales increased by 22 per cent to Rs.6,960 crore from Rs.5,707 crore in the previous year. Its API sales declined by 1.2 per cent to Rs.849 crore from Rs.859 crore and contributed 12 per cent to its consolidated revenues. Its domestic sales moved up by 16.3 per cent to Rs.2,151 crore from Rs.1,849 crore and revenues from international market increased by 24.2 per cent to Rs.4,932 crore from Rs.3,970 crore. The company's advanced markets (US, Europe and Japan) formulation sales increased by 25 per cent to Rs.3,589 crore from Rs.2,882 crore. The advanced markets contributed 52 per cent of overall net sales for the year.
Commenting on the results, Dr Kamal K Sharma, managing director, said, “ We have had another strong year where the company has clocked in a growth of 22 per cent in revenues as well as operating profits. We are in the midst of a very exciting period for Lupin with multiple launches, significant ramp-up in business and judicious investments planned.”
Formulations sales in US and Europe grew by 21 per cent to Rs.2,728 crore from Rs.2,261 crore in the previous year. Its US formulation sales moved up by 22 per cent to Rs.2,530 crore. The brands business contributed 28 per cent of total US sales whereas the generic business contributed 72 per cent. It launched 11 products in the US and thus significantly expanded is generic product portfolio. It also entered the US oral contraceptives space with three products launched during FY12.
The company's Japanese subsidiary, Kyowa grew by 39 per cent to Rs.861 crore and contributed 12 per cent of the overall revenues during the year ended March 2012. Kyowa has acquired 100 per cent of the outstanding shares of I'rom Pharmaceutical Co Ltd, a specialty injectables company with sales of JPY 5,361 million.