LIC Stake 5.87%, FII Stake Zooms 2.18%: Pharma Co Declares 52% Rise In Net, Rs 8 Dividend

Large cap pharmaceuticals sector company Lupin Ltd today declared a strong 52% year-on-year (YoY) rally in net profit to Rs 359.43 crore for the January-March quarter of financial year 2024. It had declared its net profit at Rs 235.96 crore in the corresponding quarter of last year, as per the BSE filing. Last trading price of Lupin share on BSE is Rs 1679.75 per share.

Lupin share offered attractive 138% return in last 1-year. Life Insurance Corporation Of India (LIC) has 5.87% stake in Lupin with 26,758,302 shares of the company. FII/FPI have increased holdings from 16.11% to 18.29% in March 2024 quarter. Number of FII/FPI investors increased from 693 to 786 in March 2024 quarter. More details below:

Lupin Q4 Results: The company announced its revenue at Rs 4895.11 crore for March 2024 quarter, up 13% as compared to Rs 4330.3 crore reported in the similar quarter of last year. Its EBITDA declared at Rs 1026.1 crore for the quarter under review, up 66% from Rs 615 crore. EBITDA margin arrived at 14.2% as compared to 11.5% in the year-ago period.

"We continue to move forward with sustainable and profitable growth and delivered another strong set of numbers in Q4. Our U.S. sales remain healthy driven by inhalation products, and our India formulation business is delivering ahead of market," said Nilesh Gupta, Managing Director, Lupin Limited.

Profit Before Tax was lower in Q4 FY2024 as a result of impairment charge of Rs 201.3 crore. Investment in R&D for the quarter was Rs 425.5 crore (8.7% of sales). Investment in R&D for the quarter was INR 4,255 Mn (8.7% of sales).

Lupin Declares Dividend: As per the BSE filing of the company dated May 6, 2024, "The Board of Directors have, at its meeting held on May 06, 2024 recommended a dividend of 8/- per equity share of the face value of 2/- each aggregating 3,646.0 million. The recommended dividend is subject to the approval of the shareholders at the ensuing Annual General Meeting."

Lupin Share Performance & Return: The 52-week high price of Lupin share on BSE is Rs 1703.80 per share (as on 11/03/2024) and 52-week low price is Rs 702.20 per share (as on 05/05/2023), respectively. The pharma company has a PE of 37.11 and ROE of 10.69. Lupin shares offered return of 40% in last 6-months and rose 132% in last 2-years.

Earlier on January 18, 2024 the global pharma major declared of getting nod from the United States Food and Drug Administration (U.S. FDA) for its Abbreviated New Drug Application for Febuxostat Tablets, 40 mg and 80 mg, to market a generic equivalent of Uloric® Tablets, 40 mg and 80 mg, of Takeda Pharmaceuticals U.S.A., Inc. The product will be manufactured at Lupin's Pithampur facility in India.

Lupin About: Lupin is an innovation-led transnational pharmaceutical company headquartered in Mumbai, India. The Company develops and commercializes a wide range of branded and generic formulations, biotechnology products, and APIs in over 100 markets in the U.S., India, South Africa, and across the Asia Pacific (APAC), Latin America (LATAM), Europe, and Middle East regions.