Navigation Links
Lupin Limited: Quarter III Results, FY 2012-13
Date:1/31/2013

MUMBAI, January 31, 2013 /PRNewswire/ --

Record Sales and Profits

Net Sales up 38%, EBITDA up 68%, PAT up 43%

BSE: 500257 | NSE: LUPIN | REUTERS: LUPIN.BO | BLOOMBERG: LPC IN

Pharma Major, Lupin Ltd. reported its performance for the third quarter ended 31st December, 2012. These unaudited results were taken on record by the Board of Directors at a meeting in Mumbai today.

  • Net sales grew by 37.6% to Rs. 24,659 m. during Q3 FY 2012-13, up from Rs. 17,917 m. (Q3 FY 2011-12)
    • 9M FY 2012-13: YoY growth of 36.4% to Rs. 69,243 m. from Rs. 50,765 m.
  • Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) grew by 67.6% to Rs. 6,314 m. during Q3 FY 2012-13, up from Rs. 3,768 m. (Q3 FY 2011-12)
    • 9M FY 2012-13: YoY growth of 51.5% to Rs. 16,329 m. from Rs. 10,781 m.
  • Profit before tax (PBT) grew by 78.6% to Rs. 5,550 m. during Q3 FY 2012-13, up from Rs. 3,107 m. (Q3 FY 2011-12)
    • 9M FY 2012-13: YoY growth of 55.8% to Rs. 14,020 m. from Rs. 9,001 m.
  • Net profits grew by 42.6% to Rs. 3,352 m. during Q3 FY 2012-13, up from Rs. 2,351 m. (Q3 FY 2011-12)
    • 9M FY 2012-13: YoY growth of 27.3% to Rs. 9,061 m. from Rs. 7,120 m.

Commenting on the results, Dr. Kamal K. Sharma , Managing Director, Lupin Limited, said "We had a record quarter driven by strong operating performance and growth in the US. Importantly, we continue to improve on margins consistently."

Unaudited consolidated financial results for the quarter ended December 31st, 2012 (YoY comparison)

Figures in Rs. m

% of net % of net YoY Particulars Q3 2012-13 sales Q3 2011-12 sales growth % Net sales 24,659 100% 17,917 100.0% 37.6% Other operating income 352 1.4% 286 1.6% 23.2% Total revenue 25,011 101.4% 18,203 101.6% 37.4% Raw material consumed 9,357 37.9% 6,258 34.9% 49.5% Gross margin (excl. other operating income) 15,302 62.1% 11,659 65.1% 31.2% Employees cost 3,165 12.8% 2,524 14.1% 25.4% Manufacturing & other expenses 6,440 26.1% 5,673 31.7% 13.5% Operating margin 6,049 24.5% 3,748 20.9% 61.4% Other income 265 1.1% 20 0.1% 1245.8% EBITDA 6,314 25.6% 3,768 21.0% 67.6% Depreciation 688 2.8% 576 3.2% 19.4% EBIT 5,626 22.8% 3,192 17.8% 76.3% Interest & finance charges 76 0.3% 85 0.5% -10.4% PBT 5,550 22.5% 3,107 17.3% 78.6% Tax 2,116 8.6% 701 3.9% 201.8% PAT 3,434 13.9% 2,406 13.4% 42.7% Minority interest & share of loss in associates 82 0.3% 55 0.3% 48.4% Net profit 3,352 13.6% 2,351 13.1% 42.6%

Balance sheet highlights

  • Operating working capital increased to Rs. 22,855 m. as on 31st December, 2012 as against Rs. 21,322 m. as on 30th September, 2012.  The working capital number of days stands at 90 days as on 31st December, 2012 as against 87 days on 30th September, 2012.
  • Capital Expenditure stood at Rs. 970 m. during the quarter.
  • Debt Equity Ratio as on 31st December, 2012, was 0.21.

YOY growth Particulars Q3 2012-13 Q3 2011-12 % Formulations 22,306 15,936 40% US (including IP) 10,390 6,188 68% Europe 598 644 -7% India 5,708 5,011 14% Japan 3,658 2,468 48% South Africa 831 583 43% Rest of world 1,121 1,042 8% API 2,353 1,981 19% Total net sales 24,659 17,917 38%

US & Europe

US & Europe formulation sales contributed 44% to the Company's overall consolidated revenues for Q3 FY 2012-13. Formulation Sales for US & Europe grew by 60% to Rs. 10,829 m. during Q3 FY 2012-13, as against Rs. 6,763 m. Q3 FY 2011-12. Lupin is now the market leader in 22 products out of the 43 products it markets in the US generics market. The Company is amongst the Top 3 by market share in 38 of these products.

India formulations

The Indian formulations contributed 23% of the Company's overall revenues for the quarter. The Company's India formulations business grew by 14% recording net revenues of Rs. 5,708 m. during Q3 FY 2012-13, as compared to Rs. 5,011 m. in Q3 FY 2011-12.

Japan

Lupin's Japan Sales (Kyowa + I'rom) grew by 48% clocking net sales of Rs. 3,658 m. during the quarter, as compared to Rs. 2,468 m. in Q3 FY 2011-12. Japan now contributes 15% to Lupin's consolidated revenues. Total revenues increased to JPY 5,497 m. from JPY 3,855 m., a growth of 43% in JPY terms.

R&D

Revenue expenditure on R&D for Q3 FY 2012-13 amounted to Rs. 2,382 m., 9.7% to net sales as against Rs. 1,410 m., 7.9% to net sales in Q3 FY 2011-12.

About Lupin Limited

Headquartered in Mumbai, Lupin is an innovation led transnational pharmaceutical company producing and developing a wide range of branded and generic formulations and APIs. The Company is a significant player in the Cardiovascular, Diabetology, Asthma, Pediatric, CNS, GI, Anti-Infective and NSAID space and holds global leadership positions in the Anti-TB and Cephalosporin segment.

Lupin is the 5th largest and fastest growing generics player in the US (5.1% market share by prescriptions, IMS Health) and the 3rd largest Indian pharmaceutical company by sales. The Company is also the fastest growing top 10 generic pharmaceutical players in Japan and South Africa (IMS).

For the financial year ended March 2012, Lupin's Consolidated Total Income and Profit after Tax were Rs. 70,972 million (USD 1.49 billion) and Rs. 8,676 million (USD 182 million) respectively. Please visit http://www.lupinworld.com for more information.

For further information or queries please contact -

Shamsher Gorawara
Head - Corporate Communications
Lupin Limited:
Ph: +91-98-20-338-555
Email: shamshergorawara@lupinpharma.com


'/>"/>
SOURCE Lupin Ltd
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Building on a Legacy: Vinita Gupta, CEO of Lupin Pharmaceuticals, Inc., Named Ernst & Young U.S. 2012 Family Business Award of Excellence winner
2. CryoLife Announces Release Date and Teleconference Call Details for 2012 Fourth Quarter and Year End Financial Results
3. Valeant Pharmaceuticals To Announce 2012 Fourth Quarter Results On February 28, 2013
4. TPI to Host Second Quarter of Fiscal Year 2013 Earnings Conference Call on Thursday, February 14, 2013 at 8:30 a.m. ET
5. Zimmer Reports Fourth Quarter and 2012 Financial Results
6. VirtualScopics Schedules Fourth Quarter and Full Year 2012 Earnings Announcement
7. Masimo to Report Fourth Quarter and Full Year 2012 Financial Results after Market Close on Thursday, February 14
8. The Female Health Company Reports Record First Quarter FY2013 Operating Results
9. Avanir Pharmaceuticals Announces Date Of Fiscal 2013 First Quarter Financial Results And Conference Call
10. Genomic Health to Announce Fourth Quarter and Year-End 2012 Financial Results and Host Conference Call on Wednesday, February 6, 2013
11. PDL BioPharma Announces 2013 Regular Quarterly Dividends
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/9/2016)... Feb. 9, 2016  Axovant Sciences Ltd. (NYSE: ... the treatment of dementia, today announced further details ... behavioral and functional aspects of Lewy body dementia, ... the U.S. Two out of the three studies ... to start later this quarter. In addition, the ...
(Date:2/9/2016)... The new report "Global Diagnostic Ultrasound Devices Market Assessment ... reveals that global diagnostic ultrasound devices market was valued at US$ ... million by 2019 at a CAGR of 6.8% from 2015 to ... has been analyzed for six geographies of North America ... , Latin America , Middle-East ...
(Date:2/9/2016)... 9, 2016 The new report "Global Blood Monitoring & Cardiac Monitoring ... & Consulting group reveals that global market for blood monitoring & ... and expected to grow to US$ 24,830.1 million by 2019 at ... North America , Europe , ... Middle-East and Africa . The three ...
Breaking Medicine Technology:
(Date:2/9/2016)... (PRWEB) , ... February 09, 2016 , ... ... Transformation Solutions, LLC to help enterprises move workloads to the cloud. Cirracore ... connect to their cloud without traversing the Internet. Transformation Solutions (TSL Partners) ...
(Date:2/9/2016)... ... , ... Establishment Labs, a global breast implant and medical technology company, is ... Directors. , “We are honored to welcome David to our Board of ... Chacon Quiros, CEO of Establishment Labs. "David’s knowledge and experience will be invaluable to ...
(Date:2/9/2016)... ... February 09, 2016 , ... The Bon-Ton Stores, ... Younkers department stores, announced it has raised $176,000 to benefit the Breast Cancer ... Cancer Center at the University of Iowa, The Lynn Sage Cancer Research Foundation, ...
(Date:2/9/2016)... ... ... METTLER TOLEDO has published a new guide entitled “Essential ... the techniques they use so they can more easily spot potential error sources ... to create a leaner overall lab experience. , The new guide offers ...
(Date:2/9/2016)... ... February 09, 2016 , ... United Methodist Communications ... of Prevention,” an animated video designed to prevent the next widespread ... the video are being distributed throughout Togo, Liberia, Sierra Leone, Nigeria, Côte d’Ivoire ...
Breaking Medicine News(10 mins):