Lupin Ltd

Lupin Ltd

₹ 1,599 0.78%
21 Feb - close price
About

Lupin is an innovation-led transnational pharmaceutical company headquartered in Mumbai. Lupin 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.

Key Points

Products
Co. is engaged in developing and marketing generic formulations, biotechnology products, and APIs globally. Co. has a significant presence in the Cardiovascular, Diabetology, Asthma, Pediatrics, and Central Nervous system, among other segments, and is a global leader in e Anti-TB and Cephalosporins segments. [1]

  • Market Cap 72,755 Cr.
  • Current Price 1,599
  • High / Low 1,701 / 628
  • Stock P/E 40.6
  • Book Value 291
  • Dividend Yield 0.25 %
  • ROCE 5.73 %
  • ROE 3.33 %
  • Face Value 2.00

Pros

  • Company has been maintaining a healthy dividend payout of 18.2%

Cons

  • Stock is trading at 5.50 times its book value
  • The company has delivered a poor sales growth of 1.05% over past five years.
  • Company has a low return on equity of 0.07% over last 3 years.
  • Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
4,017 3,783 4,270 4,091 4,161 3,883 3,744 4,146 4,322 4,430 4,814 5,039 5,197
3,239 3,066 3,305 5,415 3,791 3,615 3,512 3,693 3,790 3,852 3,958 4,121 4,159
Operating Profit 779 717 965 -1,324 370 268 232 453 533 578 856 918 1,038
OPM % 19% 19% 23% -32% 9% 7% 6% 11% 12% 13% 18% 18% 20%
21 49 28 73 34 16 6 15 18 37 23 40 29
Interest 31 32 33 34 33 41 43 55 84 93 86 81 74
Depreciation 244 216 209 919 203 327 193 203 220 264 235 248 257
Profit before tax 525 518 750 -2,205 167 -85 2 210 246 258 559 630 736
Tax % 16% 10% 27% 5% -229% -502% 3,925% 36% 36% 6% 19% 21% 16%
441 464 548 -2,095 549 -512 -87 134 158 242 453 495 619
EPS in Rs 9.66 10.15 11.95 -46.21 12.01 -11.40 -1.96 2.85 3.37 5.19 9.94 10.76 13.47
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
7,083 9,641 11,286 12,770 14,256 17,367 15,797 14,665 15,375 15,163 16,405 16,642 19,480
5,620 7,356 8,271 9,146 10,564 12,865 12,649 12,104 13,020 12,596 16,187 14,921 16,090
Operating Profit 1,463 2,284 3,015 3,624 3,691 4,502 3,148 2,561 2,355 2,567 219 1,721 3,390
OPM % 21% 24% 27% 28% 26% 26% 20% 17% 15% 17% 1% 10% 17%
-3 13 105 235 184 106 -1,310 91 -134 138 210 151 130
Interest 35 41 27 10 59 153 204 302 363 141 143 274 333
Depreciation 228 332 261 435 487 912 1,086 846 970 887 1,659 881 1,004
Profit before tax 1,196 1,925 2,832 3,415 3,329 3,543 547 1,503 887 1,676 -1,372 716 2,183
Tax % 26% 30% 34% 28% 32% 28% 53% 59% 130% 27% -10% 38%
888 1,340 1,870 2,444 2,270 2,565 258 615 -270 1,228 -1,528 430 1,810
EPS in Rs 19.43 29.36 40.96 53.47 50.17 56.63 5.56 13.40 -5.95 26.81 -33.62 9.45 39.36
Dividend Payout % 18% 14% 15% 14% 15% 13% 90% 37% -101% 24% -12% 42%
Compounded Sales Growth
10 Years: 6%
5 Years: 1%
3 Years: 3%
TTM: 21%
Compounded Profit Growth
10 Years: -11%
5 Years: 8%
3 Years: 42%
TTM: 668%
Stock Price CAGR
10 Years: 6%
5 Years: 16%
3 Years: 16%
1 Year: 139%
Return on Equity
10 Years: 8%
5 Years: 0%
3 Years: 0%
Last Year: 3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 89 90 90 90 90 90 90 90 91 91 91 91 91
Reserves 3,924 5,115 6,842 8,784 11,073 13,407 13,487 13,652 12,446 13,712 12,062 12,374 13,148
1,639 1,164 654 537 7,178 7,966 7,143 8,496 6,305 5,129 4,158 4,542 3,785
2,283 2,475 2,550 3,642 3,957 4,749 5,300 5,423 5,968 4,498 5,340 5,794 6,420
Total Liabilities 7,935 8,843 10,135 13,054 22,298 26,212 26,020 27,661 24,810 23,430 21,651 22,800 23,444
2,750 3,000 3,356 4,368 8,717 11,033 10,362 11,087 7,938 7,881 7,382 8,355 9,246
CWIP 444 311 304 576 2,702 2,133 2,598 1,640 940 1,066 1,146 1,238 676
Investments 3 2 178 1,658 16 2,136 262 2,295 2,374 2,455 900 517 164
4,739 5,530 6,297 6,451 10,862 10,910 12,798 12,639 13,557 12,028 12,224 12,690 13,359
Total Assets 7,935 8,843 10,135 13,054 22,298 26,212 26,020 27,661 24,810 23,430 21,651 22,800 23,444

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
560 1,251 2,004 2,733 -382 4,114 1,751 1,666 1,469 1,822 367 1,897
-720 -522 -851 -1,034 -6,769 -2,527 470 -3,282 1,107 -1,240 1,292 -1,287
109 -663 -857 -197 5,836 433 -1,492 744 -891 -1,885 -1,572 -337
Net Cash Flow -51 66 296 1,502 -1,315 2,019 729 -872 1,685 -1,303 87 273

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 92 83 80 76 116 91 120 128 129 108 95 98
Inventory Days 243 200 204 220 276 266 253 283 232 279 261 242
Days Payable 193 159 152 172 168 189 178 184 162 137 129 136
Cash Conversion Cycle 141 125 131 124 225 167 195 227 199 249 227 204
Working Capital Days 96 92 94 67 147 112 137 154 92 151 135 127
ROCE % 24% 33% 41% 40% 24% 19% 10% 10% 9% 9% -7% 6%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
46.86% 46.84% 46.83% 46.81% 46.78% 47.10% 47.11% 47.10% 47.08% 47.07% 47.06% 47.04%
17.87% 18.60% 15.66% 15.28% 14.65% 14.27% 13.81% 13.98% 13.32% 13.93% 14.99% 16.11%
22.30% 21.81% 24.47% 24.83% 26.91% 26.89% 27.63% 29.39% 28.92% 29.08% 29.14% 29.72%
0.29% 0.28% 0.28% 0.28% 0.29% 0.29% 0.00% 0.00% 0.28% 0.28% 0.28% 0.01%
12.69% 12.47% 12.76% 12.79% 11.37% 11.45% 11.45% 9.51% 10.39% 9.62% 8.52% 7.10%
No. of Shareholders 2,93,7823,02,2923,61,2883,61,8623,78,5473,82,8283,78,0113,60,6773,48,1493,22,6782,89,0742,81,542

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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