Mumbai, May 06, 2024: Pharma major Lupin Limited [BSE: 500257 | NSE: LUPIN] reported its financial performance for the quarter and fiscal year ending March 31, 2024. These audited results were taken on record by the Board of Directors at a meeting held today. Based on the long-term outlook the Board has recommended a dividend of 400%.
Income Statement highlights – Q4 FY2024
- Gross Profit was INR 33,213 Mn compared to INR 33,538 Mn in Q3 FY2024, with gross margin of 67.8%.
- Personnel cost was 18.4% of sales at INR 9,002 Mn compared to INR 8,892 Mn in Q3 FY2024.
- Manufacturing and other expenses were 30.4% of sales at INR 14,901 Mn compared to INR 15,602 Mn in Q3 FY2024.
- PBT was lower in Q4 FY2024 on account of impairment charge of INR 2,013 Mn.
- Investment in R&D for the quarter was INR 4,255 Mn (8.7% of sales).
Balance Sheet highlights
- Operating working capital was INR 56,913 Mn as on March 31, 2024.
- Capital Expenditure for the quarter was INR 1,059 Mn.
- Net Debt as on March 31, 2024 stands at INR 4,766 Mn.
- Net Debt-Equity as on March 31, 2024 stands at 0.03.
Commenting on the results, Mr. Nilesh Gupta, Managing Director, Lupin Limited said, “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. While FY24 has been a year of resurgence for the company, we look forward to an even stronger FY25 driven by growth across our key geographies and consistent improvement in our margins”.