Lupin share price drops 5% post Q4 earnings

for the reporting quarter rose by a robust 67% YoY to Rs 1,026 crore. It was Rs 615 crore a year ago. EBITDA margins, meanwhile, expanded 680 basis points compared with the year-ago period to 21%.

Following the , global brokerage firm JPMorgan maintained a 'Neutral' rating on with a target price of Rs 1550.

"The Q4 was broadly in line with estimates and margins were ahead of expectations. The key positives are margin improvement, continued strength in EMEA, and reduction in net debt," JPMorgan said.

However, lower growth in the India business is a key negative, it said.

Also Read:

Region-wise, North America sales were Rs 1901 crore, up 22% YoY and accounted for 39% of Lupin’s global sales. The US during the quarter was at $209 million, down from $212 million in the preceding quarter, but higher than $175 million in the previous year's quarter.

Meanwhile, India formulation sales were up 8% YoY to Rs 1601 crore, accounting for 33% of Lupin’s global sales. Growth markets sales for the fourth quarter increased 16% YoY to Rs 509 crore.

The company filed 1 ANDA in the quarter, received 12 ANDA approvals from the , and launched 6 products in the quarter in the US Lupin now has 161 generic products in the US.

The global API sales for the reporting quarter were down 20% YoY to Rs 258 crore.

By 11:14 am, the stock was trading 3.8% lower at Rs 1,616 on the BSE. However, over the past one year, Lupin has delivered a remarkable return of 128%.
Also Read:

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)