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Net Sales (₹ Millions)

FY20 (151,428)
FY19 (143,181)
FY18 (135,648)
FY17 (153,848)

Profit Before Tax (₹ Millions)

FY20 (15,054)
FY19 (17,452)
FY18 (18,132)
FY17 (33,942)

Net Profit (₹ Millions)

FY20 (9,088)
FY19 (8,521)
FY18 (12,427)
FY17 (24,503)

EBITDA (₹ Millions)

FY20 (28,386)
FY19 (28,937)
FY18 (28,884)
FY17 (43,501)

Revenue Compositions (%)

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

Cumulative R&D (₹ Millions)

Cumulative Capex (₹ Millions)

Dividend (%)

FY20 (300)
FY19 (250)
FY18 (250)
FY17 (375)

Earnings Per Share (INR)

FY20 (20.0)
FY19 (18.8)
FY18 (27.4)
FY17 (54.1)

As at March 31, 2020

Note As at 31.03.2020
  in million
As at 31.03.2019
  in million
ASSETS
Non-Current Assets
a. Property, Plant and Equipment 2 34,461.9 30,672.000
b. Capital Work in Progress 6,946.3 9,038.200
c. Intangible Assets  676.9 3,057.500
d. Intangible Assets Under Development 50 1,273.7  2,952.7
e. Financial Assets
(i)   Non-Current Investments
– In Subsidiaries 4 51,247.3 51,247.300
–  In Others 4 19.7 1,563.600
(ii)  Non-Current Loans 5 447.2  627.4
 iii   Other  Non-Current  Financial Assets 6 9.7 14.300
f. Non-Current Tax Assets (Net) 1,178.3 1,424.100
g. Other  Non-Current Assets 7 2,158.9 1,459.900
98,419.9 1,02,057.000
Current Assets
a. Inventories 8 24,846.1 23,059.800
b. Financial Assets
(i)   Current Investments 9 23,297.3 21,073.800
(ii)  Trade Receivables 10 36,163.3 37,243.200
 iii   Cash and Cash Equivalents 11 11,680.2 559.400
 iv  Other  Bank   Balances 12 1,379.1 55.000
(v)   Current Loans 13 348.9 229.100
 vi  Other Current  financial Assets 14 3,245.8 6,304.800
c. Current Tax Assets (Net) 2.0 2.000
d. Other Current Assets 15  7,422.4 6,318.000
1,08,385.1  94,845.1
TOTAL 2,06,805.0 1,96,902.100
EQUITY AND LIABILITIES
Equity
a. Equity Share Capital 16  906.0 905.000
b. Other Equity 17 1,73,826.0  170,267.7
1,74,732.0  171,172.7
Liabilities
Non-Current Liabilities
a. Financial Liabilities
 i     Non-Current Borrowings 18 3.1 5.300
 ii   Trade Payables
– Total outstanding dues of Micro Enterprises and Small Enterprises 19
– Total outstanding dues of other than Micro Enterprises and Small
Enterprises
19 16.100
 iii   Other  Non-Current  Financial  Liabilities 20 1,195.9 149.600
b.  Non-Current Provisions 21 2,726.3  2,094.6
c. Deferred Tax  Liabilities   Net 46 1,929.4 2,662.200
d. Other  Non-Current  Liabilities 22 660.4 827.700
6,515.1 5,755.500
Current Liabilities
a. Financial Liabilities
 i    Current Borrowings 52.9 16.800
 ii   Trade Payables
– Total outstanding dues of Micro Enterprises and Small Enterprises 24 989.4 1,046.100
– Total outstanding dues of other than Micro Enterprises and Small
Enterprises
24 14,671.9 11,494.100
 iii   Other Current  Financial  Liabilities 25 2,747.1 1,577.200
b. Other Current  Liabilities 26 1,194.9 869.800
c. Current Provisions 27 5,515.6 4,903.800
d. Current Tax Liabilities (Net) 386.1 66.100
 25,557.9 19,973.900
TOTAL 2,06,805.0 1,96,902.100

See accompanying notes forming part of the financial statements

For the year ended March 31, 2020

(   in million)
Note For the Current
Year ended
31.03.2020
For the Previous
Year ended
31.03.2019
INCOME:
Revenue from Operations 28 1,10,256.6 1,13,563.2
Other Income 29 4,751.9 2, 13.4
Total Income 1,15,008.5 1,16,476.6
EXPENSES:
Cost of Materials Consumed 30 27,532.2 26, 30.8
Purchases of Stock-in-Trade 14,827.7 13,470.5
Changes in Inventories of Finished Goods, 31 (287.2) (1,472.3)
Work-in-Progress and Stock-in-Trade [(Increase)/Decrease]
Employee Benefits Expense 32 17,032.2 15,154.2
Finance Costs 33 525.9 354.7
Depreciation and Amortisation Expense 2&3 5,187.5 4,263.0
Other Expenses 34 32,075.6 30, 52.2
Total Expenses 96,893.9 89,653.1
Profit before Exceptional Items and Tax 18,114.6 26,823.5
Exceptional items 50 7,592.1 3,3  .8
Profit before Tax 10,522.5 23,423.7
Tax Expense 46
– Current Tax (Net) 3,620.5 7,950.0
– Deferred Tax ( Net) (373.5) 85.4
Total Tax Expense 3,247.0 8,035.4
Profit for the year 7,275.5 15,388.3
Other Comprehensive Income / (Loss)
(A)   (i)    Items that will not be reclassified subsequently to profit or loss:
(a)   Remeasurements of Defined Benefit Liability (442.9) (16.8)
(ii)   Income tax relating to items that will not be reclassified to profit or loss: 46 154.8 6.0
(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 (562.1) 15.2
(ii)   Income tax relating to items that will be reclassified to profit or loss: 46 157.7 0.5
Other Comprehensive Income / (Loss) for the year, net of tax (692.5) 4.9
Total Comprehensive Income for the year 6,583.0 15,393.2
Earnings per equity share (in  ) 43
Basic 16.07 34.03
Diluted 15.99 33.89
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, 2020

(  in million)
For the Current
Year ended
31.03.2020
 For the Previous
Year ended
31.03.2019
A.    Cash Flow from Operating Activities
Profit before Tax 10,522.5 23,423
Adjustments for:
Depreciation and Amortisation Expense 5,187.5 4,263.0
Impairment of Intangible assets / Intangible asset under development 3, 00.3
Loss / (Profit) on Sale / Write-off of Property, Plant and Equipment/Intangible Assets (net) 17.6 (17.7)
Net gain on sale of  Mutual  fund Investments (1,062.8) (122.4)
Finance Costs 525.9 3 4.
Interest on Deposits with Banks and Others (80.2) (3 3.9)
Dividend on  Mutual  Fund Investments (145.6) (420.9)
Unrealised Loss / ( gain) on  mutual  und Investments (net) (2.4) (120.5)
Doubtful Trade Receivables / Advances provided (net) 16.8 (63.3)
Bad Trade Receivables / Advances written off 3.2
Share Based Payments Expense 415 .3 477.0
Impairment in value of Non-Current investments 30.1
Provision for  fine (European Commission) 3,399
Unrealised Exchange loss / (gain) on revaluation (net) (1,490.2) (822.8)
Operating Cash Flows before Working Capital Changes 17,707.9 29,996.8
Changes in working capital:
Adjustments for (increase) / decrease in operating assets:
Inventories (1,786.3) (1,259.6)
Trade Receivables 2,757.4 13,161.6
Current Loans (119.8) (52.8)
Non-Current Loans 180.2 (10.5)
Other Current  financial Assets 3,075.1 (2,104.1)
Other Current Assets (1,104.4) 1850.3
Other  on Current Assets (105.6) 60.2
Other  on Current  financial Assets 4.6 (11.1)
Adjustments for increase / (decrease) in operating liabilities:
Trade Payables 2,933.9 (1,809.5)
 on Current Trade Payables (16.1) (15.5)
Other Current  financial liabilities 1,01 .3 (193.4)
Other Current liabilities 32 .1 (426.0)
Other  on Current liabilities 134.0 3.
Other  on Current  financial liabilities (5.8) 99.1
Current Provisions 611.8 97.5
 on Current Provisions 446.8 (159.0)
Cash Generated from Operations 26,054.1 39,220.3
Net Income tax paid

(3,859.2)

(8,113 1)

Net Cash Flow generated / (used in) from Operating Activities 22,194.9 31,107.2
B.    Cash Flow from Investing Activities
Capital expenditure on Property, Plant and Equipment, including capital
advances
(5,181.1) (9,709.4)
Proceeds from sale of Property, Plant and Equipments / Intangible Assets 20.3 300.1
Proceeds from sale of  on Current Investments 1,033 (1, 39.4)
Purchase of Current Investments (141,13 . ) (89,820.9)
Proceeds from sale of Current Investments 13 ,96 .6 1,316.2
Bank balances not considered as Cash and Cash Equivalents (net) (1,324.1) (2.1)
Dividend on  utual  und Investments 145.6 420.9
Interest on Deposits with Banks and others 80.2 3 3.9
Net Cash Flow generated / (used in) from Investing Activities (7,395.6) (28,650.7)
C.    Cash Flow from Financing Activities
Proceeds from / (Repayment of)  on Current Borrowings (net) 35. (48.1)
Proceeds from / (Repayment of) Current Borrowings (net) 3 .1 (5.3)
Proceeds from issue of equity shares (ESOPs) 1.0 0.8
Securities Premium Received (ESOPs) 58.7 3 .2
Payment of  ease liabilities (798.2)
Finance Costs (210.9) (1  .3)
Dividend paid (2,264.6) (2,248.4)
Corporate  Tax on  Dividend (465.2) (464.7)
Net Cash Flow generated / (used in) from Financing Activities (3,678.5) (2,953.8)
Net Increase / (Decrease) in Cash and Cash Equivalents 11,120.8 (497.3)
Cash and Cash Equivalents as at the beginning of the year 559.4 1,056.7
Cash and Cash Equivalents as at end of the reporting year (Refer note 11) 11,680.2 559.4

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, 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
SOURCES OF FUNDS
Shareholders’ funds
Equity Share Capital 892.4 893.3 895.1 896.8 899.0 901.2 903.2 904.2 905.0 906.0
Reserves & Surplus 31,918.4 39,235.6 51,146.7 68,418.9 90,833.3 1,10,732.5 1,34,072.5 1,34,866.4 1,36,517.3 1,24,461.0
32,810.8 40,128.9 52,041.8 69,315.7 91,732.3 1,11,633.7 1,34,975.7 1,35,770.6 1,37,422.3 1,25,367.0
Non-Controlling Interest 515.1 722.9 594.5 669.4 241.0 320.8 345.2 400.8 468.6 444.6
Loans 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 63,053.2
Deferred Tax Liabilities (net) 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 1,995.4
Other Liabilities (incl. Provisions) 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 58,978.3
TOTAL 61,243.6 79,822.2 89,138.6 1,02,060.3 1,32,609.7 2,26,248.6 2,66,072.8 2,63,053.8 2,79,493.7 2,49,838.5
APPLICATION OF FUNDS
Fixed Assets
Net Block 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 60,866.3
Capital Work-in-Progress (incl. Capital Advances) 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 10,953.4
22,632.7 27,430.3 28,837.5 31,087.5 33,945.6 96,660.7 1,11,868.2 1,05,690.6 1,04,357.8 71,819.7
Goodwill on Consolidation 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 18,514.8
Investments 31.5 28.0 20.6 20.6 55.4 143.3 220.0 267.1 317.7 360.7
Deferred Tax Assets (net) 380.5 467.8 704.4 708.1 2,561.7 3,358.5 5,076.4 7,165.6 7,340.0 1,743.1
Other Assets
Inventories 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 34,568.7
Receivables 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 54,459.3
Cash & Bank Balances (refer note iii) 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 47,935.2
Others 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 20,437.0
34,944.0 46,856.1 54,502.9 63,665.4 79,794.2 1,03,431.7 1,25,808.1 1,25,445.6 1,43,675.0 1,57,400.2
TOTAL 61,243.6 79,822.2 89,138.6 1,02,060.3 1,32,609.7 2,26,248.6 2,66,072.8 2,63,053.8 2,79,493.7 2,49,838.5

TEN YEARS FINANCIAL SUMMARY

CONSOLIDATED STATEMENT OF PROFIT AND LOSS (₹ in million)

Year ended March 31, 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
INCOME
Sales 57,421.7 70,017.2 95,235.3 1,11,671.2 1,26,932.2 1,37,578.7 1,71,198.0 1,55,598.4 1,43,180.5 1,51,428.0
Other Operating Income 1,121.5 1,232.1 1,796.7 1,999.3 1,703.0 4,976.7 3,745.3 2,443.1 3,465.1 2,319.6
Other Income 221.9 143.5 278.5 1,164.8 2,397.5 1,851.9 1,065.1 1,503.5 3,330.1 4,837.6
Total Revenue 58,765.1 71,392.8 97,310.5 1,14,835.3 1,31,032.7 1,44,407.3 1,76,008.4 1,59,545.0 1,49,975.7 1,58,585.2
EXPENSES
Cost of Materials 22,379.3 26,039.0 35,485.0 38,173.8 41,570.4 43,325.7 50,014.3 52,744.0 49,460.9 54,306.0
Employee Benefits Expense 7,675.6 9,695.3 12,666.2 14,646.5 17,473.4 21,416.2 28,495.2 28,647.1 27,701.7 29,868.4
Manufacturing and Other Expenses 16,709.9 21,067.9 26,181.9 30,822.3 33,395.5 40,960.0 51,502.4 45,175.3 43,875.8 46,025.2
Total Expenses 46,764.8 56,802.2 74,333.1 83,642.6 92,439.3 1,05,701.9 1,30,011.9 1,26,566.4 1,21,038.4 1,30,199.6
Profit before Interest, Depreciation
& Tax
12,000.3 14,590.6 22,977.4 31,192.7 38,593.4 38,705.4 45,996.5 32,978.6 28,937.3 28,385.6
Finance Cost 344.8 354.7 409.5 266.5 98.1 594.7 1,525.3 2,043.5 3,024.9 3,629.8
Depreciation and Amortisation 1,711.8 2,275.2 3,321.9 2,609.7 4,347.0 4,871.3 9,122.3 10,858.7 8,460.5 9,702.2
Profit before Exceptional Items & Tax 9,943.7 11,960.7 19,246.0 28,316.5 34,148.3 33,239.4 35,348.9 20,076.4 17,451.9 15,053.6
Exceptional Items   efer note iv) 14,643.5 3,399.8 7,520.7
Profit before Tax 9,943.7 11,960.7 19,246.0 28,316.5 34,148.3 33,239.4 35,348.9 5,432.9 14,052.1 7,532.9
Current Tax 1,176.3 2,756.2 5,829.0 9,536.0 10,041.6 11,433.5 10,882.1 5,349.8 8,496.8 6,869.7
 Deferred Tax (26.5) 329.4 12.6 85.5 (337.6) (840.1) (1,097.0) (2,465.2) 382.6 4,701.4
Net Profit/(Loss) before Discontinued
Operations, Share of Profit from
Jointly Controlled Entity, Non-Controlling Interest
and Share of Loss in Associates
8,793.9 8,875.1 13,404.4 18,695.0 24,444.3 22,646.0 25,563.8 2,548.3 5,172.7 (4,038.2)
Profit from  iscontinued Operations 944.6 1,301.0
Share of Profit from  ointly
Controlled Entity
49.0 82.5 35.2 37.5 39.4
Share of Profit  Loss) attributable to
Non-Controlling Interest
148.4 198.6 262.8 331.3 411.9 87.6 71.7 70.9 89.3 (3.9)
Share of Loss in Associates 20.0
Net Profit/(Loss) 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 (2,693.9)
Date
Quarter/halfyear/annual
Full year (April-March)
30-06-2020 Q1 FY 2020-2021 Consolidated

Standalone

Unaudited
31-03-2020 FY 2020 Consolidated

Standalone

Audited
31-12-2019 Q3 FY 2019-2020 Consolidated

Standalone

Unaudited
30-09-2019 Q2 FY 2019-2020 Consolidated

Standalone

Unaudited
30-06-2019 Q1 FY 2019-2020 Consolidated

Standalone

Unaudited
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 ( Q1 FY 2020-21)

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Earnings Call (Q3 FY 2019-20)

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Earnings Call (Q2 FY 2019-20)

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Earnings Call (Q1 FY 2019-20)

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Lupin Pharmaceuticals, Inc., USA.

2017 | 2018 | 20192020

Kyowa Pharmaceutical Industry Co., Ltd., Japan (up to December 17, 2019)

2017 | 2018 | 2019

Pharma Dynamics (Proprietary) Ltd., South Africa

2017 | 2018 | 2019 | 2020

Hormosan Pharma GmbH, Germany

2017 | 2018 | 2019 | 2020

Multicare Pharmaceuticals Philippines, Inc., Philippines

2017 | 2018 | 20192020

Generic Health Pty Ltd., Australia

2017 | 2018 | 20192020

Kyowa CritiCare Co., Ltd., Japan (up to September 30, 2019)

2017 | 2018 | 2019

Nanomi B.V., Netherlands (earlier known as Lupin Holdings B.V., Netherlands)

2017 | 2018 | 20192020

Lupin Atlantis Holdings SA, Switzerland

2017 | 2018 | 20192020

Lupin Healthcare (UK) Ltd (Formerly known as Lupin (Europe) Limited, UK)

2017 | 2018 | 2019 2020

Lupin Australia Pty Ltd., Australia

2017 | 2018 | 20192020

Lupin Pharma Canada Ltd., Canada

2017 | 2018 | 20192020

Lupin Mexico S.A. de C.V., Mexico

2017 | 2018 | 20192020

Bellwether Pharma Pty Ltd., Australia

2017 | 2018 | 20192020

Lupin Philippines, Inc., Philippines

2017 | 2018 | 20192020

Lupin Healthcare Ltd., India

2017 | 2018 | 20192020

Generic Health SDN. BHD., Malaysia

2017 | 2018 | 20192020

Lupin Middle East FZ-LLC, Dubai

2017 | 2018 | 20192020

Lupin Inc., USA.

2017 | 2018 | 20192020

Lupin GmbH, Switzerland

2017 | 2018 | 20192020

Nanomi B.V., the Netherlands (merged with Lupin Holdings B.V., Netherlands)

2017 | 2018 | 2019

Laboratorios Grin, S.A. de C.V., Mexico

2017 | 2018 | 20192020

Medquimica Industria Farmaceutica LTDA, Brazil

2017 | 2018 | 20192020

Gavis Pharmaceuticals, LLC, USA. (up to March 26, 2019)

2017 | 2018 

Novel Laboratories, Inc., USA.

2017 | 2018 | 20192020

Lupin Research Inc., USA.

2017 | 2018 | 20192020

Lupin Pharma LLC, Russia (up to April 9, 2019)

2017 | 2018 | 2019

Lupin Ukraine LLC, Ukraine (up to February 7, 2019)

2017 | 2018 

Lupin Latam Inc., USA

2017 | 2018 | 20192020

Lupin Japan & Asia Pacific K.K. Japan

2017 | 2018 | 20192020

Lupin Management, Inc., USA (earlier known as Lupin IP Ventures Inc., USA) (w.e.f. October 10, 2017)

2018 | 20192020

Symbiomix Therapeutics, LLC, USA (up to December 30, 2019)

2018 | 2019

Lupin Europe GmbH, Germany ( w.e.f. February 5, 2018)

2018 | 20192020

YL Biologics Ltd., Japan (Joint Venture)

2017 | 2018 | 20192020

ANNUAL GENERAL MEETING

The 38th Annual General Meeting of Lupin Limited
FINANCIAL CALENDAR
Q1 FY 2021 (7th Aug, 2020) – EARNINGS CALL
Q4 FY 2020 (29th May, 2020)
Q3 FY 2020 (6th February, 2020)
Investor’s Call Japan (12th November, 2019)
Q2 FY 2020 (6th November, 2019)
Q1 FY 2020 (8th August, 2019)
Q4 FY 2019 (15 May, 2019)
Q3 FY 2019 (6 February, 2019)
Q2 FY 2019 (31 October, 2018)
Q1 FY 2019 (8 August, 2018)