Lupin Ltd.

Company Background

Lupin is a major generic drugmaker that conducts business in more than 100 countries. Among India's five biggest pharmaceuticals, it has about 10 production bases in India and exports generic drugs to other countries.

It was founded in 1968 by Desh Bandhu Gupta, a researcher at a science university. Since the early 2000s, it has been actively buying companies in South Africa, Mexico, even Japan.

It got a head start on its Indian competitors by building a supply network in Japan. It did so in 2007 by acquiring Kyowa Pharmaceutical Industry, an Osaka-based medium-size generic drugmaker. In 2014, it set up a venture with Yoshindo, a generic drug company based in Japan's Toyama Prefecture, to jointly develop generic biomedicines.

Zyma Laboratories, an affiliate company run by Desh Bandhu Gupta and other executives, is Lupin's top shareholder; the founding family still owns some shares in Lupin.

Business Summary

Lupin Ltd. is an innovation led transnational pharmaceutical company, which engages in the manufacture of pharmaceutical products. It offers branded and generic formulations, biotechnology products, and active pharmaceutical ingredients. The firm caters to the cardiovascular, diabetology, asthama, pediatrics, central nervous system, gastro-intestinal, anti-infectives, nonsteroidal anti-inflammatory drug therapy, anti-tuberculosis, and cephalosporins industry segments. It operates through the following geographical segments: India, USA, Japan, and Others. The company was founded by Desh Bandhu Gupta in 1968 and is headquartered in Mumbai, India.

Financial Highlights

Mar 2022	INR	USD
Revenue	163,209.80M	2,190.45M
Gross Profit	73,081.50M	980.83M
Operating income	12,860.70M	172.60M
Income before tax	-13,725.70M	-184.21M
Net income	-15,280.40M	-205.07M
EBITDA	21,045.70M	282.45M
Diluted EPS	-33.65	-0.45
Dividends Per Share	4	0.05
Total Assets	218,212.20M	2,879.73M
Total liabilities	95,992.40M	1,266.80M
Total equity	121,268.80M	1,600.38M
Operating cash flow	2,761.30M	37.05M
	Currency in INR	Currency in USD

Historical Data

INR | USD

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Revenue	155,509.10M	144,095.60M	151,619.10M	150,249.50M	163,209.80M
Gross Profit	89,416.30M	69,354.60M	71,385.80M	73,314.70M	73,081.50M
Operating income	18,628.40M	15,088.80M	12,171.10M	17,142.80M	12,860.70M
Income before tax	5,432.90M	14,052.10M	7,532.90M	16,751.20M	-13,725.70M
Net income	2,512.60M	5,120.90M	-3,994.90M	12,165.30M	-15,280.40M
EBITDA	59,546.50M	23,549.30M	21,873.30M	25,677M	21,045.70M
Diluted EPS	5.54	13.35	-5.95	26.72	-33.65
Dividends Per Share	5	5	6	6.50	4
Total Assets	263,053.80M	279,493.70M	249,838.50M	236,104.40M	218,212.20M
Total liabilities	126,882.40M	141,602.80M	123,953.10M	97,523.30M	95,992.40M
Total equity	135,761.40M	137,413.10M	125,357.80M	138,022.20M	121,268.80M
Operating cash flow	15,901M	14,897.10M	12,562.80M	17,296.30M	2,761.30M

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Revenue	2,412.26M	2,060.19M	2,138.31M	2,023.97M	2,190.45M
Gross Profit	1,387.02M	991.59M	1,006.76M	987.60M	980.83M
Operating income	288.96M	215.73M	171.65M	230.92M	172.60M
Income before tax	84.27M	200.90M	106.23M	225.65M	-184.21M
Net income	38.97M	73.21M	-56.34M	163.87M	-205.07M
EBITDA	923.68M	336.69M	308.48M	345.88M	282.45M
Diluted EPS	0.08	0.19	-0.08	0.36	-0.45
Dividends Per Share	0.07	0.07	0.08	0.08	0.05
Total Assets	4,033.22M	4,034.55M	3,302.50M	3,229.27M	2,879.73M
Total liabilities	1,945.40M	2,044.06M	1,638.48M	1,333.85M	1,266.80M
Total equity	2,081.53M	1,983.58M	1,657.04M	1,887.77M	1,600.38M
Operating cash flow	246.65M	212.99M	177.17M	232.99M	37.05M

Valuation Measures

Mar 2022
PER	--
ROA	-6.72%
ROE	-11.78%
Operating margin	7.87%
Profit margin	-9.36%

Key executives

Chief Executive Officer & Executive Director: Vinita D. Gupta
Global CFO & Executive Director: Ramesh Swaminathan
President-Global Quality & Compliance: Johnny Mikell
Secretary & Compliance Officer: Rajvardhan V. Satam
Managing Director & Executive Director: Nilesh Deshbandhu Gupta

Shareholders

Lupin Investments Pvt Ltd. (45.2%)
Life Insurance Corporation of India (Investment Portfolio) (8.3%)
ICICI Prudential Asset Management Co. Ltd. (5.0%)
HDFC Asset Management Co. Ltd. (Invt Mgmt) (4.0%)
Nippon Life India Asset Management Ltd. (Invt Mgmt) (1.9%)
The Vanguard Group, Inc. (1.6%)
Norges Bank Investment Management (1.3%)
BlackRock Fund Advisors (1.2%)
SBI Funds Management Pvt Ltd. (1.1%)
DSP Investment Managers Pvt. Ltd. (1.0%)

Contact Details

Website:http://www.lupin.com
Address: Kalpataru Inspire, Off Western Expressway Highway, Mumbai, 400055, India
Phone: +91.22.66402323

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Competitors

Dr. Reddy's Laboratories Ltd.
Amneal Pharmaceuticals, Inc. Class A
Sun Pharmaceutical Industries Limited
Amneal Pharmaceuticals, Inc. Class A
Innoviva, Inc.
Dare Bioscience, Inc.
Midatech Pharma Plc
Agile Therapeutics, Inc.
Bora Pharmaceuticals Co Ltd

Last Updated on 24 Mar, 2023