Lupin’s revenue climbs 16.3% to INR 55,143 million in Q1 FY2025

New Delhi: For the quarter, Lupin’s consolidated sales rose by 16.3% year-over-year to INR 55,143 million up from INR 47,421 million in the same period last year.

The company also saw a sequential quarterly increase of 12.7%, compared to INR 48,951 million in Q4 FY2024. This strong performance was driven by growth in key geographies and an improved product mix.

EBITDA showed significant growth, reaching INR 13,088 million, a 48.9% increase from INR 8,791 million in Q1 FY2024. The EBITDA margin expanded by 520 basis points year-over-year, from 18.5% to 23.7%, highlighting Lupin’s operational efficiency and cost management initiatives.

The company’s profit before tax (PBT) almost doubled, rising by 77.7% to INR 9,930 million from INR 5,588 million in the previous year. This impressive growth was partially due to the absence of the INR 2,013 million impairment charge that impacted Q4 FY2024 results.

Profit after tax (PAT) surged by 77.7% to INR 8,055 million, compared to INR 4,533 million in Q1 FY2024, reflecting Lupin’s strong bottom-line performance. 

Lupin’s gross profit for the quarter was INR 37,697 million, up from INR 33,213 million in Q4 FY2024, with a gross margin of 68.4%. Personnel costs accounted for 17.6% of sales, totalling INR 9,710 million, while manufacturing and other expenses were 29.0% of sales at INR 15,985 million.

The company continues to invest in research and development, with an expenditure of INR 3,500 million, representing 6.3% of sales for the quarter. This commitment to innovation positions Lupin for sustained growth and competitiveness in the pharmaceutical market.

Lupin’s balance sheet remains strong with operating working capital at INR 61,686 million and capital expenditure for the quarter at INR 1,117 million. The company reported a net debt position of INR (195) million, maintaining a net debt-to-equity ratio of 0.00.

In response to the quarterly results, Nilesh Gupta, Managing Director of Lupin Limited, stated, “We have had a strong quarter on the back of the momentum we built through FY24, with performance driven by new products, key geographies, and improvement in our operating margin and profitability. We are on track for strong, sustainable growth and margin improvement backed by growth in sales, commercial and operating efficiencies, and a strong compliance story.”

The growth was led by North America and India, the company’s largest markets in Q1 FY2025. India saw formulation sales rise by 17.5% to INR 19,259 million, representing 35% of total sales, driven by new launches in key therapeutic areas. In North America, sales surged by 28.3% year-over-year to INR 20,408 million, accounting for 37% of global sales. The U.S. market benefited from three new product launches and six ANDA approvals, bolstering its portfolio to 161 generic products. 

Sales in Growth Markets (LATAM and APAC) increased by 26.7% to INR 5,151 million, and EMEA sales grew by 26.2% to INR 5,031 million, with significant contributions from South Africa and Germany. Global API sales rose by 40.3% to INR 3,622 million, highlighting strong performance in this segment.

Lupin’s investment in R&D totaled INR 3,500 million (6.3% of sales), with a focus on expanding its product pipeline. The company filed 430 ANDAs with the U.S. FDA and has received 325 approvals, underscoring its commitment to innovation.