Lupin Ltd

Lupin is a leading global pharmaceutical company headquartered in Mumbai (Maharashtra), India.(Source : 201903 Annual Report Page No: 02)

Pros:
Company has reduced debt.
Company is virtually debt free.
Cons:
The company has delivered a poor growth of 4.90% over past five years.
Company has a low return on equity of 13.76% for last 3 years.
Dividend payout has been low at 14.10% of profits over last 3 years

Peer Comparison Sector: Pharmaceuticals // Industry: Pharmaceuticals - Indian - Bulk Drugs

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
2,951 3,296 2,926 2,499 2,580 2,531 2,478 2,579 2,713 3,093 2,972 2,941
2,045 2,058 2,257 1,956 2,038 2,033 2,023 2,078 2,220 2,312 2,064 2,250
Operating Profit 906 1,237 669 543 542 498 454 501 492 781 908 691
OPM % 31% 38% 23% 22% 21% 20% 18% 19% 18% 25% 31% 24%
Other Income 19 89 39 28 74 24 53 173 203 -303 50 57
Interest 3 11 8 6 11 7 10 7 10 10 8 10
Depreciation 86 93 105 95 95 99 100 105 105 108 109 129
Profit before tax 836 1,223 596 470 510 416 398 562 580 359 841 609
Tax % 22% 30% 8% 25% 24% 26% 26% 24% 27% 60% 35% 27%
Net Profit 653 859 549 354 389 309 292 429 425 142 543 446
EPS in Rs 14.49 19.06 12.16 7.84 8.61 6.84 6.47 9.50 9.40 3.14 12.00 9.86
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
2,524 2,899 3,640 4,495 5,385 7,122 8,939 9,752 11,344 12,626 10,081 11,356 11,718
2,073 2,389 2,887 3,527 4,206 5,224 6,017 6,376 7,357 8,135 7,995 8,530 8,846
Operating Profit 451 510 754 968 1,179 1,898 2,922 3,377 3,987 4,492 2,086 2,827 2,872
OPM % 18% 18% 21% 22% 22% 27% 33% 35% 35% 36% 21% 25% 25%
Other Income 197 69 65 7 -14 9 406 177 187 83 131 -23 7
Interest 34 42 28 28 29 33 21 5 24 29 33 35 39
Depreciation 56 66 82 104 132 150 168 337 306 366 390 426 451
Profit before tax 558 471 709 844 1,005 1,724 3,139 3,212 3,844 4,179 1,794 2,342 2,389
Tax % 20% 12% 8% 4% 20% 27% 26% 25% 26% 25% 25% 34%
Net Profit 443 417 649 810 804 1,260 2,324 2,397 2,831 3,141 1,345 1,539 1,555
EPS in Rs 10.46 9.64 14.14 17.67 17.49 27.48 51.28 51.81 61.30 69.56 29.74 34.01 34.40
Dividend Payout % 19% 25% 18% 17% 18% 14% 12% 14% 12% 11% 17% 15%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:14.63%
5 Years:4.90%
3 Years:0.04%
TTM:15.24%
Compounded Profit Growth
10 Years:15.31%
5 Years:-5.63%
3 Years:-14.76%
TTM:9.53%
Return on Equity
10 Years:21.11%
5 Years:17.97%
3 Years:13.76%
Last Year:10.61%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
82 83 89 89 89 90 90 90 90 90 90 90
Reserves 1,235 1,292 2,442 3,063 3,645 4,757 6,889 8,938 11,823 14,690 15,695 17,027
Borrowings 966 945 907 983 1,099 669 144 45 392 593 17 6
676 1,066 952 1,100 1,373 1,580 1,735 2,001 2,069 2,679 3,026 2,708
Total Liabilities 2,958 3,386 4,390 5,236 6,206 7,095 8,858 11,074 14,374 18,052 18,828 19,831
863 976 1,191 1,355 1,707 2,014 2,179 2,036 2,345 3,013 3,341 3,373
CWIP 69 116 141 442 357 240 267 490 624 481 1,171 1,199
Investments 292 474 724 681 687 688 1,164 3,444 3,741 6,914 5,363 7,388
1,734 1,820 2,334 2,758 3,454 4,153 5,248 5,104 7,664 7,645 8,953 7,870
Total Assets 2,958 3,386 4,390 5,236 6,206 7,095 8,858 11,074 14,374 18,052 18,828 19,831

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
260 414 533 459 478 1,008 1,528 2,852 917 4,352 209 3,111
-499 -492 -684 -375 -398 -372 -447 -1,178 -2,629 -1,941 725 -2,865
101 -125 177 -84 -98 -635 -844 -221 17 -160 -987 -295
Net Cash Flow -138 -203 25 -1 -18 1 237 1,452 -1,696 2,252 -52 -50

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 24% 22% 26% 23% 23% 34% 50% 40% 36% 30% 11% 16%
Debtor Days 91 89 92 100 101 96 117 94 146 113 179 120
Inventory Turnover 4.91 4.32 5.09 5.78 5.48 5.80 6.61 6.27 6.21 6.25 4.68 5.06