Lupin, a Rs.9,450 crore plus fourth largest Indian pharma entity, has posted impressive financial performance during the fourth quarter ended March 2013 and recommended handsome equity dividend of 200 per cent for the year ended March 2013. The company's consolidated net profit jumped by 162 per cent to Rs.408 crore from Rs.156 crore in the similar period of last year. Its consolidated net sales also moved up by 34.7 per cent to Rs.2,537 crore from Rs.1,883 crore. EBDITA touched to Rs.665 crore from Rs.381 crore, a strong growth of almost 75 per cent. Its revenue R&D expenditure increased by 47 per cent to Rs.200 crore from Rs.136 crore.
Lupin scrip touched to its 52-weeks peak level at Rs.738.80 on BSE today. It closed at Rs.730.65 with gain of Rs.17.30 or 2.4 per cent. The board of directors recommended equity dividend of Rs.4 per share of the face value of Rs.2 each for the year ended March 2013.
Kamal K Sharma, managing director, said, “We have had a great quarter and a remarkable year fueled by strong business performance in the US and India as well as improved operational efficiencies. We continue on our high growth journey.”
For the full year ended March 2013, Lupin's consolidated net sales increased by 36 per cent to Rs.9,462 crore from Rs.6,960 crore in the previous year. Its other operating income also grew by 46.3 per cent to Rs.180 crore from Rs.123 crore. The net profit moved up by 51.5 per cent to Rs.1,314 crore from Rs.868 crore and its EPS worked out to Rs.29.39 as against Rs.19.43 in the last year.
Its revenue R&D expenditure for the full year increased by 35.8 per cent to Rs.710 crore from Rs.523 crore. It filed 21 ANDAs and received 14 approvals from the US FDA during 2012-13. Cumulative ANDA filings with the US FDA stood at 176 with the company having received 78 approvals to date. It also filed three MAAs with European regulatory authorities and has received four approvals in the last quarter ended March 2013 and cumulative filings with European authorities now stand at 53 and received 38 approvals.
The sales of formulations increased by 39.3 per cent to Rs.8,512 crore during the year ended March 2013 from Rs.6,111 crore. Its formulation sales in US moved up by 49 per cent to Rs.3,770 crore from Rs.2,530 crore and its sales in Europe moved up by 19.2 per cent to Rs.236 crore from Rs.198 crore. The US brands business contributed 21 per cent of total US sales whereas the generics business contributed 79 per cent. It launched 10 new products in the US market in the FY'2013. Lupin is now the market leader in 24 products out of the 46 products marketed in the US generic market.
The company achieved smart performance in Japan with sales of Rs.1,304 crore as against Rs.861 crore in the previous year, a growth of 52 per cent. Its domestic sales improved by 24 per cent to Rs.2,364 crore from Rs.1,906 crore. The Indian market contributed 25 per cent of the company's overall revenues. Lupin has increased its presence in South Africa with sales growth of 26 per cent to Rs.321 crore from Rs.255 crore and also in Rest of World its sales increased by 43 per cent to Rs.517 crore from Rs.361 crore. Its APIs sales improved by 12 per cent to Rs.950 crore from Rs.849 crore.