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Net Sales(₹ Millions)CAGR 15.8%

FY19 (163,694)
FY18 (155,598)
FY17 (171,198)
FY16 (137,579)
FY15 (126,932)

Revenue Compositions (%)

  • North America
  • India
  • APAC
  • EMEA
  • LATAM
  • ROW
  • API
  • NCE

EBITDA (₹ Millions)

FY19 (32,462)
FY18 (32,979)
FY17 (45,997)
FY16 (38,705)
FY15 (38,593)

Profit Before Tax (₹ Millions)

FY19 (18,534)
FY18 (20,076)
FY17 (35,349)
FY16 (33,239)
FY15 (34,148)

Net Profit (₹ Millions)

FY19 (9,466)
FY18 (13,934)
FY17 (25,575)
FY16 (22,607)
FY15 (24,032)

Cumulative R&D (₹ Millions)

Cumulative Capex (₹ Millions)

Dividend (%)

FY18 (250)
FY17 (375)
FY16 (375)
FY15 (375)
FY14 (300)

Dividend (%)

FY18 (30.83)
FY17 (56.69)
FY16 (50.45)
FY15 (53.54)
FY14 (40.99)

As at March 31, 2019

Note As at 31.03.2019
  in million
As at 31.03.2018
  in million
Assets
Non-Current Assets
a. Property, Plant and Equipment 2 30,672.0 30,272.3
b. Capital Work-in-Progress 9,038.2 8,499.9
c. Intangible Assets 3 3,057.5 3,134.3
d. Intangible Assets Under Development 2,952.7 3,210.5
e. Financial Assets
(i)   Non-Current Investments
-In Subsidiaries 4 51,247.3 51,247.3
– In Others 4 1,563.6 55.3
(ii) Non-Current Loans 5 627.4 616.9
(iii) Other Non-Current Financial Assets 6 14.3 3.2
f. Non-Current Tax Assets (Net) 1,424.1 1,464.3
g. Other Non-Current Assets 7 1,459.9 1,131.5
102,057.0 99,635.5
Current Assets
a. Inventories 8 23,059.8 21,800.2
b. Financial Assets
(i) Current Investments 9 21,073.8 2,325.9
(ii) Trade Receivables 10 37,243.2 49,463.1
(iii)  Cash and Cash Equivalents 11 559.4 1,056.7
(iv) Other Bank Balances 12 55.0 52.9
(v) Current Loans 13 229.1 176.3
(vi)  Other Current Financial Assets 14 6,304.8 4,044.8
c. Current Tax Assets (Net) 2.0
d. Other Current Assets 15 6,318.0 8,168.6
e. Assets Classified as  Held for Sale 59 86.0
94,845.1 87,174.5
Total 196,902.1 186,810.0
Equity and Liabilities
Equity
a. Equity Share Capital 16 905.0 904.2
b. Other Equity 17 170,267.7 156,945.4
171,172.7 157,849.6
Liabilities
Non-Current Liabilities
a. Financial Liabilities
(i) Non-Current Borrowings 18 5.3 40.8
(ii) Trade Payables 19 16.1 31.6
(iii)  Other Non-Current Financial Liabilities 20 149.6 48.3
b. Non-Current Provisions 21 2,094.6 2,062.9
c. Deferred Tax Liabilities (Net) 46 2,662.2 2,583.3
d. Other Non-Current Liabilities 22 827.7 831.4
5,755.5 5,598.3
Current Liabilities
a. Financial Liabilities
(i) Current Borrowings 23 16.8 82.1
(ii) Trade Payables
– Total outstanding dues of Micro Enterprises and Small Enterprises 24 1,046.1 1,063.8
– Total outstanding dues of other  than Micro Enterprises and Small Enterprises 24 11,494.1 13,214.9
(iii)  Other Current Financial Liabilities 25 1,577.2 6,031.3
b. Other Current Liabilities 26 869.8 1,231.9
c. Current Provisions 27 4,903.8 1,470.4
d. Current Tax Liabilities (Net) 66.1 267.7
19,973.9 23,362.1
Total 196,902.1 186,810.0
See accompanying notes forming part of the financial statements

For the year ended March 31, 2019

Note For the Current Year ended 31.03.2019
in million
For the Previous Year ended 31.03.2018
in million
Income
Revenue from Operations 28 113,563.2 100,881.8
Other Income 29 2,913.4 1,311.2
Total Income 116,476.6 102,193.0
Expenses
Cost of Materials Consumed 30 26,930.8 22,595.3
Purchases of Stock-in-Trade 13,470.5 11,301.5
Changes in Inventories of Finished Goods, 31 (1,472.3) 846.7
Work-in-Process and Stock-in-Trade
Employee Benefits Expense 32 15,154.2 14,416.4
Finance Costs 33 354.7 332.4
Depreciation and Amortisation Expense 2&3 4,263.0 3,898.1
Other Expenses 34 30,952.2 30,863.3
Total Expenses 89,653.1 84,253.7
Profit before Exceptional items and Tax 26,823.5 17,939.3
Exceptional item
– Provision for fine (European  Commission) 50 3,399.8
Profit before Tax 23,423.7 17,939.3
Tax Expense 46
– Current Tax (Net) 7,950.0 3,865.7
– Deferred Tax (Net) 85.4 627.0
Total Tax Expense 8,035.4 4,492.7
Profit for the year 15,388.3 13,446.6
Other Comprehensive Income / (Loss)
(A) (i) Items that will not be reclassified subsequently to profit or loss:
(a) Remeasurements of Defined Benefit Liability (16.8) 1.2
(ii) Income tax relating to items that will not be reclassified to profit or loss: 46 6.0 1.0
(B) (i) Items that will be reclassified subsequently to profit or loss:
(a) The effective portion of gain & losses on hedging instruments in a cash flow hedge 15.2 (464.7)
(ii) Income tax relating to items that will be reclassified to profit or loss: 46 0.5 144.8
Other Comprehensive Income / (Loss) for the year, net of tax 4.9 (317.7)
Total Comprehensive Income for the year 15,393.2 13,128.9
Earnings per equity share (in ₹) 43
Basic 34.03 29.76
Diluted 33.89 29.66
Face Value of Equity Share (in ₹) 2.00 2.00
See accompanying notes forming part of the financial statements

For the year ended March 31, 2019

For the Current Year ended 31.03.2019
in million
For the Previous Year ended 31.03.2018
in million
A.  Cash Flow from Operating Activities
Profit before Tax 23,423.7 17,939.3
Adjustments for:
Depreciation and Amortisation Expense 4,263.0 3,898.1
Loss/(Profit) on Sale/Write-off of Property, Plant and Equipment/Intangible Assets (net) (17.7) 26.6
Net Gain on sale of Mutual Fund Investments (122.4) (383.9)
Finance Costs 354.7 332.4
Interest on Deposits with Banks and Others (383.9) (7.5)
Dividend on Mutual Fund Investments (420.9) (274.8)
Unrealised Loss/ (Gain)on Mutual Fund Investments (net) (120.5) (55.4)
Dividend on Non-Current Investment from Subsidiary company (14.5)
Doubtful Trade Receivables / Advances / Deposits written off and provided (net) (63.3) (12.5)
Bad Trade Receivables / Advances / Deposits written off 7.0
Share Based Payments Expense 477.0 643.2
Impairment in value of Non-Current investments 30.1
Provision for fine (European  Commission) 3,399.8
Unrealised Exchange loss / (gain) on revaluation (net) (822.8) 345.7
Operating Cash flows before  Working Capital Changes 29,996.8 22,443.7
Changes in working capital:
Adjustments for (increase) / decrease in operating assets:
Inventories (1,259.6) (543.6)
Trade Receivables 13,161.6 (10,889.4)
Current Loans (52.8) (26.3)
Non- Current Loans (10.5) (81.7)
Other Current Financial Asset (2,104.1) (318.3)
Other Current Asset 1,850.3 (3,464.4)
Other Non-Current Assets 60.2 47.7
Other Non-Current Financial Assets (11.1) 9.2
Adjustments for increase / (decrease) in operating liabilities:
Current Trade Payable (1,809.5) (391.5)
Non-Current Trade Payable (15.5) (13.8)
Other Current Financial liabilities (193.4) (475.8)
Other Current Liabilities (426.0) 634.7
Other Non-Current liabilities (3.7) (221.1)
Other Non-Current Financial liabilities 99.1 (7.4)
Current Provisions 97.5 65.7
Non- Current Provisions (159.0) 229.4
Cash Generated from Operations 39,220.3 6,997.1
Net Income tax paid (8,113.1) (4,902.3)
Net Cash Flow from Operating Activities 31,107.2 2,094.8
B.  Cash Flow from Investing Activities
Capital expenditure, including capital advances (9,709.4) (9,103.8)
Proceeds from sale of Property, Plant and Equipments / Intangible Assets 300.1 13.2
Purchase of Non-Current Investment in subsidiaries (3,283.4)
Purchase of Non-Current Investment in others (1,539.4)
Purchase of Current Investment (89,820.9) (50,214.6)
Proceeds from sale of Current Investments 71,316.2 69,448.0
Bank balances not considered as Cash and Cash Equivalents (net) (2.1) 95.4
Dividend on Mutual Fund Investments 420.9 274.8
Dividend on Non-Current Investment from Subsidiary company 14.5
Interest on Deposits with Banks and others 383.9 7.5
Net Cash Used in Investing Activities (28,650.7) 7,251.6
C.  Cash Flow from Financing Activities
Repayment of Non Current Borrowings (net) (48.1) (49.7)
Proceeds from / (Repayment of) Current Borrowings (net) (65.3) (5,714.1)
Proceeds from issue of equity shares (ESOPs) 0.8 1.0
Securities Premium Received (ESOPs) 36.2 144.2
Finance Costs (164.3) (178.1)
Dividends paid (2,248.4) (3,383.4)
Corporate Tax on Dividend (464.7) (689.7)
Net Cash (Used) / generated in Financing Activities (2,953.8) (9,869.8)
Net (decrease) / Increase in Cash and Cash Equivalents (497.3) (523.4)
Cash and Cash Equivalents as at the beginning of the year 1,056.7 1,580.1
Cash and Cash Equivalents as at the end of the year (refer note 11) 559.4 1,056.7

Notes :

  • The above Cash Flow Statement has been prepared under the ‘Indirect Method’ as set out in the Indian Accounting Standard 7 (Ind AS -7) “Statement of Cash Flow”.
  • Cash comprises cash on hand and current accounts with banks. Cash equivalents are short-term balances (with an original maturity of three months or less from the date of acquisition), current investments that are convertible into known amounts of cash and which are subject to insignificant risk of changes in value.

TEN YEARS FINANCIAL SUMMARY

CONSOLIDATED BALANCE SHEET (₹ in million)

As at March 31, 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
SOURCES OF FUNDS
Shareholders’ funds
Equity Share Capital 889.4 892.4 893.3 895.1 896.8 899.0 901.2 903.2 904.2 905.0
Reserves & Surplus 24,788.9 31,918.4 39,235.6 51,146.7 68,418.9 90,833.3 110,732.5 134,072.5 134,866.4 136,517.3
25,678.3 32,810.8 40,128.9 52,041.8 69,315.7 91,732.3 111,633.7 134,975.7 135,770.6 137,422.3
Non-Controlling Interest 254.9 515.1 722.9 594.5 669.4 241.0 320.8 345.2 400.8 468.6
Loans 11,398.5 11,623.9 16,391.0 11,644.9 6,537.4 5,371.2 71,775.2 79,660.9 71,428.0 84,961.5
Deferred Tax Liabilities (net) 1,630.4 1,791.8 1,910.1 2,336.8 2,486.6 1,527.5 3,266.8 3,948.5 2,855.3 2,882.8
Other Liabilities (incl. Provisions) 11,892.5 14,502.0 20,669.3 22,520.6 23,051.2 33,737.7 39,252.1 47,142.5 52,599.1 53,758.5
TOTAL 50,854.6 61,243.6 79,822.2 89,138.6 102,060.3 132,609.7 226,248.6 266,072.8 263,053.8 279,493.7
APPLICATION OF FUNDS
Fixed Assets
Net Block 15,864.9 17,313.4 22,456.6 24,928.5 26,977.3 27,200.3 64,515.2 87,229.2 79,135.0 87,063.9
Capital Work-in-Progress (incl. Capital Advances) 3,578.7 5,319.3 4,973.7 3,909.0 4,110.2 6,745.3 32,145.5 24,639.0 26,555.6 17,293.9
19,443.6 22,632.7 27,430.3 28,837.5 31,087.5 33,945.6 96,660.7 111,868.2 105,690.6 104,357.8
Goodwill on Consolidation 3,196.8 3,254.9 5,040.0 5,073.2 6,578.7 16,252.8 22,654.4 23,100.1 24,484.9 23,803.2
Investments 264.3 31.5 28.0 20.6 20.6 55.4 143.3 220.0 267.1 317.7
Deferred Tax Assets (net) 195.4 380.5 467.8 704.4 708.1 2,561.7 3,358.5 5,076.4 7,165.6 7,340.0
Other Assets
Inventories 9,714.9 11,999.6 17,326.7 19,489.3 21,294.5 25,036.1 32,736.5 36,422.8 36,624.9 38,367.7
Receivables 11,265.7 12,556.4 17,800.1 21,869.9 24,641.0 26,475.2 45,487.6 43,073.4 51,922.1 51,498.0
Cash & Bank Balances (refer note iii) 2,015.3 4,201.4 4,024.7 4,348.8 9,739.1 21,304.7 8,237.7 28,135.4 16,431.7 32,523.5
Others 4,758.6 6,186.6 7,704.6 8,794.9 7,990.8 6,978.2 16,969.9 18,176.5 20,466.9 21,285.8
27,754.5 34,944.0 46,856.1 54,502.9 63,665.4 79,794.2 103,431.7 125,808.1 125,445.6 143,675.0
TOTAL 50,854.6 61,243.6 79,822.2 89,138.6 102,060.3 132,609.7 226,248.6 266,072.8 263,053.8 279,493.7

TEN YEARS FINANCIAL SUMMARY

CONSOLIDATED STATEMENT OF PROFIT AND LOSS (₹ in million)

Year ended March 31, 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
INCOME
Sales 48,009.5 57,421.7 70,017.2 95,235.3 111,671.2 126,932.2 137,578.7 171,198.0 155,598.4 163,693.7
Other Operating Income 762.5 1,121.5 1,232.1 1,796.7 1,999.3 1,703.0 4,976.7 3,745.3 2,443.1 3,488.1
Other Income 351.1 221.9 143.5 278.5 1,164.8 2,397.5 1,851.9 1,065.1 1,503.5 3,640.2
Total Revenue 49,123.1 58,765.1 71,392.8 97,310.5 114,835.3 131,032.7 144,407.3 176,008.4 159,545.0 170,822.0
EXPENSES
Cost of Materials 19,694.2 22,379.3 26,039.0 35,485.0 38,173.8 41,570.4 43,325.7 50,014.3 52,744.0 58,457.9
Employee Benefits Expense 5,871.5 7,675.6 9,695.3 12,666.2 14,646.5 17,473.4 21,416.2 28,495.2 28,647.1 31,512.9
Manufacturing and Other 13,576.5 16,709.9 21,067.9 26,181.9 30,822.3 33,395.5 40,960.0 51,502.4 45,175.3 48,388.8
Expenses
Total Expenses 39,142.2 46,764.8 56,802.2 74,333.1 83,642.6 92,439.3 105,701.9 130,011.9 126,566.4 138,359.6
Profit before Interest, 9,980.9 12,000.3 14,590.6 22,977.4 31,192.7 38,593.4 38,705.4 45,996.5 32,978.6 32,462.4
Depreciation & Tax
Finance Cost 384.9 344.8 354.7 409.5 266.5 98.1 594.7 1,525.3 2,043.5 3,078.3
Depreciation and Amortisation 1,239.1 1,711.8 2,275.2 3,321.9 2,609.7 4,347.0 4,871.3 9,122.3 10,858.7 10,850.1
Profit before Exceptional 8,356.9 9,943.7 11,960.7 19,246.0 28,316.5 34,148.3 33,239.4 35,348.9 20,076.4 18,534.0
Items & Tax
Exceptional Items (Refer note iv) 14,643.5 3,399.8
Profit before Tax 8,356.9 9,943.7 11,960.7 19,246.0 28,316.5 34,148.3 33,239.4 35,348.9 5,432.9 15,134.2
Current Tax 1,109.8 1,176.3 2,756.2 5,829.0 9,536.0 10,041.6 11,433.5 10,882.1 5,349.8 8,727.0
Deferred Tax 250.4 (26.5) 329.4 12.6 85.5 (337.6) (840.1) (1,097.0) (2,465.2) 289.9
Net Profit before Share of Profit
from Jointly Controlled Entity, 6,996.7 8,793.9 8,875.1 13,404.4 18,695.0 24,444.3 22,646.0 25,563.8 2,548.3 6,117.3
Non-Controlling Interest and
Share of Loss in Associates
Share of Profit from Jointly 49.0 82.5 35.2 37.5
Controlled Entity
Share of Profit attributable to 111.6 148.4 198.6 262.8 331.3 411.9 87.6 71.7 70.9 89.3
Non-Controlling Interest
Share of Loss in Associates 68.8 20.0
Net Profit 6,816.3 8,625.5 8,676.5 13,141.6 18,363.7 24,032.4 22,607.4 25,574.6 2,512.6 6,065.5
Date
Quarter/
halfyear/
annual
Full year (April-March)
31-03-2019 FY 2019

Consolidated

Standalone

Audited
31-12-2018 Q3 2018-2019

Consolidated

Standalone

Unaudited
30-09-2018 Q2 2018-2019

Consolidated

Standalone

Unaudited
30-06-2018 Q1 2018-2019

Consolidated

Standalone

Unaudited
31-03-2018 FY 2018

Consolidated

Standalone

Audited
31-12-2017 Q3 2017-2018

Consolidated

Standalone

Unaudited
30-10-2017 Q2 2017-2018

Consolidated

Standalone

Unaudited

Legend:

Q = Quarterly, H = Half-yearly, FY = Full year

Earnings Call (FY 2019)

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Earnings Call (Q2 FY 2018-19)

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Earnings Call (Q1 FY 2018-19)

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Earnings Call (FY 2018)

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Earnings Call (Q3 FY 2017-18)

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Earnings Call (Q2 FY 2017-18)

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Earnings Call (Q1 FY 2017-18)

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Name of the Subsidiary Date from which it became Subsidiary
Lupin Pharmaceuticals, Inc., USA. 30.06.2003
Kyowa Pharmaceutical Industry Co., Ltd., Japan 18.10.2007
Pharma Dynamics (Proprietary) Ltd., South Africa 01.03.2008
Hormosan Pharma GmbH, Germany 25.07.2008
Multicare Pharmaceuticals Philippines, Inc., Philippines 26.03.2009
Generic Health Pty Ltd., Australia 27.09.2010
Kyowa CritiCare Co., Ltd., Japan 18.05.2011
Lupin Holdings B.V., Netherlands 30.03.2007
Lupin Atlantis Holdings SA, Switzerland 05.06.2007
Lupin Healthcare (UK) Ltd 05.06.2009
Lupin Australia Pty Ltd., Australia 01.12.2004
Lupin Pharma Canada Ltd., Canada 18.06.2009
Lupin Mexico S.A. de C.V., Mexico 23.08.2010
Bellwether Pharma Pty Ltd., Australia 27.09.2010
Lupin Philippines, Inc., Philippines 20.12.2010
Lupin Healthcare Ltd., India 17.03.2011
Generic Health SDN. BHD., Malaysia 18.05.2011
Lupin Middle East FZ-LLC, Dubai 13.06.2012
Lupin Inc., USA. 27.06.2013
Lupin GmbH, Switzerland 15.08.2013
Nanomi B.V., the Netherlands 30.01.2014
Laboratorios Grin, S.A. de C.V., Mexico 30.09.2014
Medquimica Industria Farmaceutica LTDA, Brazil. 24.06.2015
Gavis Pharmaceuticals, LLC, USA. 08.03.2016
Novel Laboratories, Inc., USA. 08.03.2016
Lupin Research Inc., USA. 08.03.2016
Lupin Pharma LLC, Russia 11.02.2016
Lupin Ukraine LLC, Ukraine 13.07.2016
Lupin Latam Inc., USA 15.12.2016
Lupin Japan & Asia Pacific K.K. Japan 13.03.2017
Lupin IP Ventures Inc., USA 10.10.2017
Sybiomix Therapeutics, LLC, USA 10.10.2017
Lupin Europe GmbH, UK 05.02.2018
YL Biologics Ltd., Japan (Joint Venture). 23.04.2014

ANNUAL GENERAL MEETING

The 37th Annual General Meeting of Lupin Limited
Rang Sharda Natyamandir, Bandra Reclamation, Bandra West, Mumbai 400050
7th August 2019 (Wednesday) at 2.30 pm
FINANCIAL CALENDAR
Q4 FY 2019 (15 May, 2019) – EARNINGS CALL
Q3 FY 2019 (6 February, 2019)
Q2 FY 2019 (31 October, 2018)
Q1 FY 2019 (8 August, 2018)

INVESTOR MEETS/EARNINGS CALL

FY 2017-18
Q4 FY 2019 (15 May, 2019) – EARNINGS CALL
Q3 FY 2019 (6 February, 2019)
Q2 FY 2019 (31 October, 2018
Q1 FY 2019 (8 August, 2018)