Profit before tax rose 4.4% to Rs 518.38 crore in Q4 March 2021 from Rs 496.36 crore in Q4 March 2020. EBITDA (before forex & other income) soared 35.1% to Rs 707.50 crore in Q4 March 2021 as against Rs 523.70 crore in Q4 March 2020. EBITDA margin improved to 18.8% in Q4 FY21 compared with 13.8% in Q4 FY20.
Net debt as on 31 March 2021 stood at Rs 662.60 crore while the net debt-equity for the company was at 0.05 as on 31 March 2021.
Commenting on the Q4 performance, Nilesh Gupta, the managing director (MD) of Lupin, said: We are happy that the journey to sustain margin improvement continues, despite a challenging environment. On the back of a strong ramp-up of inline products and meaningful new product launches, we are confident of a solid growth trajectory and continued margin expansion. Ensuring the safety of our employees while maintaining business continuity is a key priority at this time.
The company's sales from North America stood at Rs 5,552 crore in FY2021 compared with Rs 5,821.20 crore in FY2020, accounting for 37% of Lupin's global sales. The region's Q4 FY21 sales stood at Rs 1,495.20 crore, declining 5.3% compared with Rs 1,579.10 crore in Q4 FY20.
Lupin's India formulation sales for FY2021 stood at Rs 5,271.20 crore, rising 2.6% as compared to Rs 5,138.50 crore in FY2020; accounting for 35% of Lupin's global sales. The Q4 FY21 sales were at Rs 1,286.60 crore compared to Rs 1,366.90 crore during Q3 FY21 and increasing 7.9% over Rs 1,192 crore during Q4 FY20. As per IQVIA MAT March 2021 data, Lupin is the sixth largest company in the Indian pharmaceutical market.
Lupin's Global API sales for FY21 stood at Rs 1,382.30 crore, advancing 6.3% as compared to Rs 1,299.90 crore in FY2020; accounting for 9% of Lupin's global sales. The Q4 FY21 sales were at Rs 255.60 crore as against Rs 343.80 crore in Q3 FY21 and sales of Rs 328.60 crore in Q4 FY20.
The investment in Research and Development (R&D) for continued operations amounted to Rs 1,432.40 crore (9.6% of sales) for FY21 and Rs 342.70 crore (or 9.1% of sales) for Q4 FY21.
Lupin received approval for six ANDA from the US-based drug regulator, USFDA during the quarter. Cumulative ANDA filings with the USFDA stood at 437 as of 31 March 2021, with the company having received 288 approvals to date.
Currently, Lupin has 45 First-to-Files (FTF) filings including 16 exclusive FTF opportunities. Cumulative Drug Master File (DMF) filings stand at 201 as of 31 March 2021.
The board has recommended a dividend of Rs 6.50 per equity share for the year ended 31 March 2021.
Lupin is an innovation-led transnational pharmaceutical company. The company develops and commercializes a wide range of branded and generic formulations, biotechnology products and APIs in over 100 markets.
Shares of Lupin gained 1.10% to close at Rs 1,210.75 on Wednesday, 12 May 2021. The Indian stock markets is shut today, 13 May 2021, on account of Id-Ul-Fitr (Ramzan Id).
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