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As on 19-May-2022  09:27

Lupin tumbles after recording loss of Rs 518 crore in Q4

Income from operations rose by 2.8% YoY to Rs 3,864.5 crore during the quarter. While the total revenue from formulations was Rs 3,644.2 crore (up 4% YoY), the revenue from API was Rs 220.3 crore (down 13.8% YoY) in Q4 FY22.

In the formulations business, highest growth in sales was recorded in ROW region (up 103% YoY) followed by Growth Markets (up 25.6% YoY), EMEA (up 8.6% YoY) and India (up 5% YoY) in Q4 FY22. Sales in North America, however, declined by 5.3% YoY during the period under review.

EBITDA declined by 63.1% to Rs 282.3 crore in Q4 FY22 from Rs 765.7 crore in Q4 FY21. EBITDA margin was 7.3% in Q4 FY22 as against 20.4% in Q4 FY21.

The company recorded a pre-tax loss of Rs 85.2 crore in Q4 FY22 as compared with a pre-tax profit of Rs 518.2 crore in Q4 FY21.

Investment in R&D for the quarter was Rs 344.2 crore, representing 8.9% of sales. Capital expenditure for the fourth quarter was Rs 157.7 crore.

The drug maker recorded a consolidated net loss of Rs 1,528 crore in FY22 as compared with a net profit of Rs 1,216.5 crore in FY21. Income from operations rose by 8.5% to Rs 16,192.8 crore in FY22 over FY21.

Operating working capital was Rs 6,030.3 crore as on 31 March 2022.

Net debt stood at Rs 1,922.7 crore while net debt-equity for the company was 0.16 as on 31 March 2022.

Nilesh Gupta, managing director, Lupin, said, “The current quarter was challenging with headwinds in the U.S. on account of price erosion, and inflation in input materials and freight. Our other markets continue solid growth in revenues and profitability.

We are focused on optimizing operating expenses and spend and ensuring the evolution of our complex generic platforms along with global portfolio maximization while doubling down on markets like India. We expect our efforts to yield meaningful uptick in profitability, especially in the second half of this fiscal and beyond.”

Lupin is a transnational pharmaceutical company. 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 Asia Pacific (APAC), Latin America (LATAM), Europe and Middle-East regions.

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