Lupin posts Q4 FY 2014-15 results

Acquires  Brazil-based Medquímica Indústria Farmacêutica

Lupin has posted its performance for the fourth quarter and the financial year ending March 31, 2015. Net sales grew by 13.6 per cent to Rs 125,997 million during FY 2014-15, up from Rs 110,866 million, in FY 2013-14. The net Sales were Rs 30,540 million during Q4 FY 2014-15, as compared to Rs 30,515 million in Q4 FY 2013-14. Earnings before interest, tax, depreciation and amortization (EBITDA) grew by 23.7 per cent to Rs 38,593 million during FY 2014-15, up from Rs 31,193 million, in FY 2013-14. The net sales were Rs 30,540 million during Q4 FY 2014-15, as compared to Rs. 30,515 million in Q4 FY 2013-14.

Profit before tax (PBT) grew by 20.6 per cent to Rs 34,148 million during FY 2014-15, up from Rs 28,317 million, in FY 2013-14. PBT stood at Rs 6,969 million during Q4 FY 2014-15, as compared to Rs 7,956 million in Q4 FY 2013-14. Net profits grew by 30.9 per cent to Rs 24,032 million during FY2014-15, up from Rs 18,364 million, in FY 2013-14.

Net profits were Rs 5,470 million during Q4 FY 2014-15, as compared to Rs 5,530 million in Q4 FY 2013-14. The Board has proposed a dividend of 375 per cent for FY 2014-15.

Nilesh Gupta, Managing Director, Lupin, said, “Higher price erosion in the US as well as a slowdown in product approvals impacted growth in the quarter, but overall the company has done well to improve gross margins and enhance profitability for the year. We continue to ramp up investment in research in segments like Inhalation, complex injectables and biosimilars. Our execution strength, pipeline evolution and planned M&A will drive our future as a global generic and specialty pharmaceutical company.”

The company has acquired 100 per cent equity stake in Medquímica Indústria Farmacêutica, Brazil, (Medquímica) subject to certain closing conditions. The acquisition marks Lupin’s foray into the high growth Brazilian market and would also shore up its position in the Latin American pharmaceuticals market given the company’s acquisition of Laboratorios Grin in Mexico last fiscal.

Vinita Gupta, Chief Executive Officer, Lupin said, “We are pleased with our entry into the Brazilian market through Medquímica. There are a lot of synergies to the acquisition and Lupin would not only leverage its research and technology strengths to build a high quality product pipeline but also use Medquímica’s commercial presence to expand business by targeting niche high-growth therapy segments.”

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