Lupin Ltd Q4FY23 PAT turns around to net profit of Rs236 crore from net loss in year ago quarter
Lupin Ltd reported 14.09% growth in total revenues for the March 2023 quarter on consolidated basis at Rs4,430cr. On a sequential basis, the revenues were up by 2.5%. In terms of regional break up of sales growth, the company saw 9.5% growth in sales in North America, 9.4% in India, 15.4% in the growth markets and 11.4% in EMEA. The other markets actually saw negative growth in sales.
The biggest boost to sales growth in terms of product segments came from the active pharma ingredients (APIs), which are specialized intermediates that go into production of formulations. At Rs323 crore in the Q4FY23 quarter, it grew by 46.5% yoy, while on a sequential basis the growth was 14.6%. Even for the full year Fy23, the API sales were up a full 12%. Company has filed 10 ANDAs in the quarter and got 7 ANDA approvals in the US.
Financial highlights for Mar-23 compared yoy and sequentially
| Lupin Ltd | |||||
Rs in Crore | Mar-23 | Mar-22 | YOY | Dec-22 | QOQ |
| Total Income (Rs cr) | ₹ 4,430 | ₹ 3,883 | 14.09% | ₹ 4,322 | 2.50% |
| Operating Profit (Rs cr) | ₹ 615 | ₹ 282 | 117.85% | ₹ 551 | 11.70% |
| Net Profit (Rs cr) | ₹ 236 | ₹ -518 | N.A. | ₹ 153 | 53.75% |
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| Diluted EPS (Rs) | ₹ 5.16 | ₹ -11.40 |
| ₹ 3.36 |
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| OPM | 13.88% | 7.27% |
| 12.74% |
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| Net Margins | 5.33% | -13.34% |
| 3.55% |
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Investment in R&D was 7.9% of sales for FY23, roughly the run it has maintained in the previous years. Operating margins at 13.88% is sharply higher than 7.27% in the year ago period while the net margins reflected the turnaround from loss to profit. EBITDA growth more than doubled on a yoy basis.