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Lupin

₹2256.5 -31.8 | 1.4%

Market Cap ₹102927 Cr.

Stock P/E 45.4

P/B 4.8

Current Price ₹2256.5

Book Value ₹ 468.7

Face Value 2

52W High ₹2312

Dividend Yield 0.35%

52W Low ₹ 1091.8

Lupin Research see more...

Overview Inc. Year: 1983Industry: Pharmaceuticals & Drugs

Lupin Limited is an India-based pharmaceutical corporation. The Company develops and commercializes a variety of branded and general formulations, biotechnology merchandise, and active pharmaceutical substances (APIs) in over a hundred markets within the United States, India, South Africa, and throughout the Asia Pacific, Latin America, Europe, and the Middle East regions. It has presence inside the cardiovascular, diabetology, asthma, pediatrics, gastro-intestinal, anti-infectives and nonsteroidal anti-inflammatory drug remedy segments. Its complex generics portfolio includes Filgrastim, Peg-Filgrastim, Etanercept and Albuterol, amongst others. Its biosimilar merchandise include Filgrastim, Peg-Filgrastim and Etanercept. Its specialty products consist of Solosec and NaMuscla. Its over-the-counter merchandise include Softovac, Lupizyme, Aptivate, Lupisafe, Be One and V-Bath, among others. The Company resources APIs for anti-retroviral, anti-malarial and tuberculosis (TB) remedy pills.

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Lupin Share Price

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Price

Quarterly Price

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Lupin Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Lupin Profit & Loss

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Net Sales 8939 9752 11227 12753 10088 11356 11026 11056 11772 11259 14667
Other Income 415 181 187 88 131 291 475 129 221 210 126
Total Income 9355 9933 11414 12842 10219 11648 11501 11185 11993 11469 14793
Total Expenditure 6027 6379 7240 8267 8002 8504 9118 9012 11567 10295 11227
Operating Profit 3328 3554 4174 4575 2217 3144 2383 2173 426 1174 3566
Interest 21 5 24 29 33 35 53 41 73 98 56
Depreciation 168 337 306 366 390 426 519 503 514 548 725
Exceptional Income / Expenses 0 0 0 0 0 -340 -759 0 0 0 0
Profit Before Tax 3139 3212 3844 4179 1794 2342 1052 1630 -162 527 2785
Provision for Tax 815 815 1013 1038 449 804 325 371 27 102 459
Profit After Tax 2324 2397 2831 3141 1345 1539 728 1259 -189 425 2326
Adjustments 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 2324 2397 2831 3141 1345 1539 728 1259 -189 425 2326
Adjusted Earnings Per Share 51.8 53.3 62.8 69.6 29.7 34 16.1 27.7 -4.2 9.3 51

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 30% 10% 5% 5%
Operating Profit CAGR 204% 18% 3% 1%
PAT CAGR 447% 23% 9% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 98% 32% 24% 5%
ROE Average 12% 4% 5% 15%
ROCE Average 14% 6% 7% 20%

Lupin Balance Sheet

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Shareholder's Funds 6979 9028 11913 14780 15785 17117 17473 18566 18150 18412 20603
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 24 19 14 9 4 1 0 0 0 0 0
Other Non-Current Liabilities 334 301 354 494 556 575 651 707 625 644 626
Total Current Liabilities 1461 1660 1955 2566 2336 1997 2556 2586 3538 3628 3646
Total Liabilities 8799 11008 14236 17848 18681 19690 20681 21859 22313 22684 24923
Fixed Assets 2179 2036 2345 3013 3341 3373 3514 3639 3690 4022 4113
Other Non-Current Assets 1576 2520 4635 5585 6623 6833 6328 8602 10185 11091 11522
Total Current Assets 5044 6452 7256 9251 8709 9485 10839 9617 8438 7571 9140
Total Assets 8799 11008 14236 17848 18681 19690 20681 21859 22313 22684 24923

Lupin Cash Flow

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Opening Cash & Cash Equivalents 18 255 1714 18 158 106 56 1168 177 59 86
Cash Flow from Operating Activities 1528 2852 917 4352 209 3111 2219 1570 151 1794 2504
Cash Flow from Investing Activities -447 -1178 -2629 -1941 725 -2865 -740 -2508 -372 -1269 -1599
Cash Flow from Financing Activities -844 -221 17 -160 -987 -295 -368 -53 102 -498 -867
Net Cash Inflow / Outflow 237 1452 -1696 2252 -52 -50 1112 -991 -118 27 38
Closing Cash & Cash Equivalent 255 1708 18 2270 106 56 1168 177 59 86 124

Lupin Ratios

# Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Earnings Per Share (Rs) 51.83 53.33 62.82 69.56 29.74 34.01 16.06 27.74 -4.15 9.35 51.04
CEPS(Rs) 55.57 60.83 69.61 77.67 38.36 43.43 27.51 38.82 7.16 21.4 66.95
DPS(Rs) 6 7.5 7.5 7.5 5 5 6 6.5 4 4 8
Book NAV/Share(Rs) 155.06 199.59 261.84 323.44 344.47 373.46 380.98 405.03 395.79 401.4 449.64
Core EBITDA Margin(%) 32.29 34.26 35.15 34.88 19.29 23.57 16.12 17.18 1.56 8.52 23.34
EBIT Margin(%) 35.03 32.67 34.1 32.72 16.9 19.64 9.34 14.04 -0.67 5.53 19.28
Pre Tax Margin(%) 34.8 32.62 33.89 32.49 16.59 19.35 8.89 13.7 -1.23 4.66 18.9
PAT Margin (%) 25.77 24.35 24.96 24.42 12.44 12.71 6.15 10.58 -1.43 3.76 15.79
Cash Profit Margin (%) 27.63 27.77 27.65 27.27 16.04 16.23 10.53 14.81 2.47 8.6 20.71
ROA(%) 29.34 24.21 22.43 19.58 7.36 8.02 3.6 5.92 -0.85 1.89 9.77
ROE(%) 39.42 30.11 27.26 23.79 8.91 9.48 4.26 7.06 -1.04 2.35 12
ROCE(%) 50.01 39.73 36.19 30.41 11.72 14.44 6.39 9.19 -0.47 3.3 14.33
Receivable days 95.79 99.63 113.59 119.87 149.36 130.71 113.21 104.42 81.97 87.01 80.72
Inventory Days 54.69 57.68 58.78 57.32 72.67 67.63 73.88 79.66 81.59 99.91 74.18
Payable days 114.96 119.49 121.94 140.88 153.05 125 125.75 127.82 115.55 124.2 156.12
PER(x) 18.06 37.63 23.56 20.77 24.76 21.73 36.72 36.8 0 69.32 31.7
Price/Book(x) 6.04 10.06 5.65 4.47 2.14 1.98 1.55 2.52 1.88 1.61 3.6
Dividend Yield(%) 0.64 0.37 0.51 0.52 0.68 0.68 1.02 0.64 0.54 0.62 0.49
EV/Net Sales(x) 4.69 9.25 5.97 5.15 3.29 2.94 2.3 4.19 2.94 2.66 5.02
EV/Core EBITDA(x) 12.61 25.38 16.07 14.35 14.97 10.62 10.67 21.32 81.28 25.55 20.64
Net Sales Growth(%) 25.51 9.1 15.12 13.59 -20.9 12.57 -2.91 0.27 6.47 -4.36 30.27
EBIT Growth(%) 79.85 1.8 20.24 8.8 -56.58 30.14 -53.54 51.18 -105.27 810.4 354.15
PAT Growth(%) 84.4 3.15 18.08 10.97 -57.19 14.44 -52.72 72.99 -114.99 325.34 447.05
EPS Growth(%) 84.05 2.89 17.8 10.72 -57.24 14.34 -52.77 72.73 -114.97 325.09 446.2
Debt/Equity(x) 0.02 0.01 0.03 0.04 0 0 0 0.02 0.04 0.03 0
Current Ratio(x) 3.45 3.89 3.71 3.61 3.73 4.75 4.24 3.72 2.38 2.09 2.51
Quick Ratio(x) 2.51 2.84 2.73 2.78 2.79 3.59 3.27 2.67 1.49 1.25 1.69
Interest Cover(x) 150.55 656.55 160.44 143.05 54.97 67.04 21.01 41.12 -1.2 6.35 50.42
Total Debt/Mcap(x) 0 0 0.01 0.01 0 0 0 0.01 0.02 0.02 0

Lupin Shareholding Pattern

# Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024
Promoter 46.78 47.1 47.11 47.1 47.08 47.07 47.06 47.04 47.01 46.98
FII 14.65 14.27 13.81 13.98 13.32 13.94 14.99 16.11 18.28 19.32
DII 27.19 27.19 27.63 29.39 29.2 29.36 29.43 29.73 27.77 26.78
Public 11.37 11.45 11.45 9.53 10.4 9.64 8.52 7.11 6.93 6.92
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company is almost debt free.

Cons

  • Promoter holding is low: 46.98%.
  • Company has a low return on equity of 4% over the last 3 years.
  • Debtor days have increased from 124.2 to 156.12days.
  • Stock is trading at 4.8 times its book value.
  • The company has delivered a poor profit growth of 8% over past five years.

* 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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