Lupin Ltd

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

Pros:
Company has been maintaining a healthy dividend payout of 46.84%
Cons:
The company has delivered a poor growth of 8.18% over past five years.
Company has a low return on equity of 9.05% for last 3 years.
Company might be capitalizing the interest cost

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

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
4,291 4,483 4,253 3,870 3,952 3,976 4,034 3,856 3,951 4,505 4,406 4,418
3,260 3,264 3,472 3,103 3,099 3,287 3,325 3,329 3,401 3,752 3,534 3,558
Operating Profit 1,031 1,219 781 766 853 688 709 527 550 753 872 860
OPM % 24% 27% 18% 20% 22% 17% 18% 14% 14% 17% 20% 19%
Other Income 31 106 47 32 78 29 -1,318 185 231 -298 90 73
Interest 29 48 41 44 48 54 59 69 74 80 86 86
Depreciation 211 231 267 261 272 280 273 259 265 280 281 317
Profit before tax 822 1,045 520 494 611 383 -941 384 441 95 596 531
Tax % 19% 39% 26% 28% 25% 42% 17% 47% 39% 260% 50% 43%
Net Profit 662 633 380 357 455 222 -784 203 266 -152 290 303
EPS in Rs 14.69 14.04 8.42 7.93 10.07 4.91 -17.33 4.48 5.88 -3.36 6.40 6.70
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

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
2,686 3,776 4,774 5,819 7,083 9,641 11,286 12,770 14,256 17,367 15,797 16,718 17,281
2,250 3,124 3,887 4,634 5,621 7,356 8,272 9,146 10,570 12,866 12,712 13,860 14,246
Operating Profit 436 652 887 1,185 1,461 2,284 3,014 3,624 3,685 4,501 3,085 2,858 3,035
OPM % 16% 17% 19% 20% 21% 24% 27% 28% 26% 26% 20% 17% 18%
Other Income 206 92 111 15 -2 13 105 236 190 107 -1,248 52 97
Interest 37 50 38 34 35 41 27 10 59 153 204 308 325
Depreciation 65 88 124 171 228 332 261 435 487 912 1,086 1,085 1,143
Profit before tax 540 606 836 994 1,196 1,925 2,832 3,415 3,329 3,543 547 1,517 1,664
Tax % 24% 16% 16% 12% 26% 30% 34% 28% 32% 28% 53% 59%
Net Profit 408 502 682 863 868 1,314 1,836 2,403 2,261 2,557 251 607 707
EPS in Rs 9.61 11.68 14.85 18.80 18.86 28.68 40.40 51.94 48.65 56.63 5.56 13.40 15.62
Dividend Payout % 20% 21% 18% 16% 18% 14% 15% 14% 15% 13% 90% 37%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:16.04%
5 Years:8.18%
3 Years:5.46%
TTM:9.25%
Compounded Profit Growth
10 Years:3.83%
5 Years:-16.81%
3 Years:-31.19%
TTM:636.60%
Stock Price CAGR
10 Years:10.79%
5 Years:-11.75%
3 Years:-21.04%
1 Year:-19.55%
Return on Equity
10 Years:18.04%
5 Years:14.34%
3 Years:9.05%
Last Year:5.38%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

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 1,198 1,342 2,479 3,192 3,924 5,115 6,842 8,784 11,073 13,407 13,487 13,652
Borrowings 1,203 1,223 1,140 1,162 1,639 1,164 654 537 7,178 7,966 7,143 8,496
887 1,369 1,378 1,706 2,330 2,599 2,690 3,816 4,458 5,144 5,586 5,711
Total Liabilities 3,370 4,017 5,085 6,150 7,982 8,968 10,275 13,227 22,799 26,607 26,305 27,949
1,203 1,519 1,906 2,057 2,750 3,000 3,356 4,368 8,717 11,033 10,362 11,087
CWIP 96 224 358 490 444 311 304 576 2,702 2,133 2,598 1,640
Investments 6 22 26 3 3 2 178 1,658 16 2,136 262 2,295
2,064 2,253 2,795 3,599 4,786 5,655 6,437 6,625 11,363 11,305 13,084 12,927
Total Assets 3,370 4,017 5,085 6,150 7,982 8,968 10,275 13,227 22,799 26,607 26,305 27,949

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
259 470 676 798 559 1,251 2,004 2,733 -382 4,114 1,751 1,666
-456 -505 -683 -520 -741 -522 -851 -1,034 -6,769 -2,527 470 -3,282
82 -167 136 -163 110 -663 -857 -197 5,836 433 -1,492 744
Net Cash Flow -115 -203 130 116 -72 66 296 1,502 -1,315 2,019 729 -872

Ratios Consolidated Figures in Rs. Crores / View Standalone

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 % 22% 26% 27% 25% 25% 33% 41% 40% 24% 19% 10% 10%
Debtor Days 101 89 86 79 92 83 80 76 116 91 120 112
Inventory Turnover 4.41 4.32 4.95 5.36 4.83 5.24 5.53 5.51 4.94 5.02 4.32 4.46