1. Summary Information
|
|
|
Country |
|
|
Company Name |
LUPIN LIMITED |
Principal Name 1 |
Dr. Desh Bandhu Gupta |
|
Status |
Good |
Principal Name 2 |
Dr. Kamal K. Sharma |
|
|
|
Registration # |
11-029442 |
|
Street Address |
159, |
||
|
Established Date |
01.03.1983 |
SIC Code |
-- |
|
Telephone# |
91-22-26931001 / 26526391 / 26528311 / 56402222 / 66402323 |
Business Style 1 |
Manufacturers |
|
Fax # |
91-22-26540484 / 26114008 / 56402299 / 26528806 / 66402051 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Cefixime |
|
|
# of employees |
4000 (Approximately) |
Product Name 2 |
Cefactor |
|
Paid up capital |
Rs. 893,465,000/- |
Product Name 3 |
Lisinopril |
|
Shareholders |
Promoter Group - 53.07 % Public shareholding
- 46.93 % |
Banking |
State Bank of |
|
Public Limited Corp. |
Yes |
Business Period |
29 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
Aa
(77) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
: |
|
Generic Health Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
18,522,500,000 |
Current Liabilities |
6,983,500,000 |
|
Inventories |
8,411,100,000 |
Long-term Liabilities |
9,832,900,000 |
|
Fixed Assets |
13,546,300,000 |
Other Liabilities |
3,774,700,000 |
|
Deferred Assets |
000 |
Total Liabilities |
20,591,100,000 |
|
Invest& other Assets |
11,637,800,000 |
Retained Earnings |
30,634,200,000 |
|
|
|
Net Worth |
31,526,600,000 |
|
Total Assets |
52,117,700,000 |
Total Liab. & Equity |
52,117,700,000 |
|
Total Assets (Previous Year) |
43,706,000,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
44,262,500,000 |
Net Profit |
8,099,800,000 |
|
Sales(Previous yr) |
36,730,500,000 |
Net Profit(Prev.yr) |
6,489,300,000 |
MIRA
INFORM REPORT
|
Report Date : |
26.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
LUPIN LIMITED |
|
|
|
|
Registered
Office : |
159, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
01.03.1983 |
|
|
|
|
Com. Reg. No.: |
11-029442 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 893.465 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24100MH1983PLC029442 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEL03519F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL1069K |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturers of Bulk Drugs and
Formulations. |
|
|
|
|
No. of Employees
: |
4000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (77) |
|
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
Maximum Credit Limit : |
USD 120000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company
having good track. Financial position of the company appears to be sound.
Directors are reported to be experienced and respectable businessmen. Trade relations
are fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for
normal business dealings at usual trade terms and conditions. It can be regarded as promising business
partner in medium to long run. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
159, |
|
Tel. No.: |
91-22-26931001 / 26526391 / 26528311 /
56402222 / 66402323 |
|
Fax No.: |
91-22-26540484 / 26114008 / 56402299 /
26528806 / 66402051 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
T-142 MIDC Industrial Estate, Tarapur Industrial Area, Boisar,
District Thane, |
|
|
|
|
Factory 2 : |
198-202, New Industrial Area II, Mandideep, District Raisen, Madhya
Pradesh – 462 046, |
|
|
|
|
Factory 3 : |
211, New Industrial Area II, Mandideep, District Raisen, Madhya
Pradesh – 462 024, |
|
|
|
|
Factory 4 : |
124, GIDC Industrial Estate, Ankleshwar, Gujarat – 393 002, |
|
|
|
|
Factory 5 : |
A28/1, MIDC Area, Chikalthana, |
|
|
|
|
Factory 6: |
B-15 Phase I-A Verna Industiral Area, Verma Salcette, Goa – 403 722, |
|
|
|
|
Factory 7 : |
Export promotion Industrial Park, SIDCO Industrial Complex, Kartholi,
Bari Brahmana, Jammu – 181 133 |
|
|
|
|
Factory 8 : |
Gate No. 1156, Village Ghotawade, Taluka – Mulshi, District - Pune, |
|
|
|
|
Factory 9 : |
Novodigm Limited, Block 21, Dabhasa Padra, Taluka - Vadodara – 391 440 |
|
|
|
|
Factory 10 : |
Lupin Pharmacare Limited, Plot No.2, Phase – II, Special Economic
Zone, Pithampur, Dist Dhar, Madhya Pradesh – 454 775, India |
|
|
|
|
Factory 11 : |
Kyowa Pharmaceutical Industry Company Limited, 11-1 |
|
|
|
|
Corporate Office : |
B/4 |
|
Tel. No.: |
91-22-66402222 |
|
Fax No.: |
91-22-66402130 |
|
Website : |
|
|
|
|
|
R and D Park : |
Lupin Bioresearch Centre
Kyowa Pharmaceutical Industry Company Limited
|
|
|
|
DIRECTORS
As on 31.03.2011
|
Name : |
Dr. Desh Bandhu Gupta |
|
|
Designation : |
Founder and Chairman |
|
|
Date of Birth/Age : |
08.02.1938 |
|
|
Qualification : |
M.Sc. |
|
|
Date of Appointment : |
11.07.1972 |
|
|
|
|
|
|
Name : |
Dr. Kamal K. Sharma |
|
|
Designation : |
Managing Director |
|
|
|
|
|
|
Name : |
Mrs. M. D. Gupta |
|
|
Designation : |
Executive Director |
|
|
Date of Birth/Age : |
22.09.1943 |
|
|
Qualification : |
B.A. |
|
|
Date of Appointment : |
11.07.1972 |
|
|
|
|
|
|
Name : |
Mr. Nilesh Gupta |
|
|
Designation : |
Executive Director |
|
|
|
|
|
|
Name : |
Mrs. Vinita Gupta Sharma |
|
|
Designation : |
Director |
|
|
Date of Birth/Age : |
05.03.1968 |
|
|
Qualification : |
Pharmacy Graduate, MBA |
|
|
Date of Appointment : |
17.08.2001 |
|
|
|
|
|
|
Name : |
Mr. K. U. Mada |
|
|
Designation : |
Director |
|
|
Date of Birth/Age : |
29-12-1933 |
|
|
Qualification : |
M.A., Ph.D. (Eco.), Financial Management
Certificate from Jamnalal Bajaj Institute of Management Studies. |
|
|
Date of Appointment : |
27-06-2001 |
|
|
|
|
|
|
Name : |
Mr. D. K. Contractor |
|
|
Designation : |
Director |
|
|
|
|
|
|
Name : |
Mr. Vijay Kelkar |
|
|
Designation : |
Additional Director |
|
|
|
|
|
|
Name : |
Mr. K. V. Kamath |
|
|
Designation : |
Director |
|
|
|
|
|
|
Name : |
Mr. R. A. Shah |
|
|
Designation : |
Additional Director |
|
|
|
|
|
|
Name : |
Mr. Richard Zahn |
|
|
Designation : |
Director |
|
KEY EXECUTIVES
|
Name : |
Dr. Desh Bandhu
Gupta |
|
Designation : |
Founder and Chairman |
|
|
|
|
Name : |
Mr. Vinod Dhawan |
|
Designation : |
AAMLA and President - Business Development |
|
|
|
|
Name : |
Mr. Naresh Gupta |
|
Designation: |
President – API and Global TB |
|
|
|
|
Name : |
Mr. Rajendra Kamboj |
|
Designation: |
President – Novel Drug Discovery and Development |
|
|
|
|
Name : |
|
|
Designation: |
President – Pharmaceuticals
Research and Development |
|
|
|
|
Name : |
Mr. Ramesh Swaminathan |
|
Designation: |
President – Finance and Planning |
|
|
|
|
Name : |
Mr. Divakar Kaza |
|
Designation: |
President – Human Resources Development |
|
|
|
|
Name : |
|
|
Designation: |
President – Technical Operations |
|
|
|
|
Name : |
Mr. Nilesh Gupta |
|
Designation: |
Group President and Executive Director |
|
|
|
|
Name : |
Dr. Cyrus
Karkaria |
|
Designation: |
President - Biotechnology |
|
|
|
|
Name : |
Shakti
Chakraborty |
|
Designation: |
Group President
India Region Formulations |
|
|
|
|
Name : |
Mrs. Vinita
Gupta |
|
Designation: |
Group President
and CEO Lupin Pharmaceuticals Inc |
SHAREHOLDING PATTERN
AS ON 31.03.2012
|
Category of Shareholder |
Total No. of
Shares |
Percentage of
Holding |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
6957570 |
1.56 |
|
|
201840570 |
45.19 |
|
|
208798140 |
46.75 |
|
|
|
|
|
|
803800 |
0.18 |
|
|
803800 |
0.18 |
|
Total
shareholding of Promoter and Promoter Group (A) |
209601940 |
46.93 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
30137911 |
6.75 |
|
|
59396 |
0.01 |
|
|
43626345 |
9.77 |
|
|
122933174 |
27.52 |
|
Any others (Specify) |
9784 |
- |
|
Foreign Financial
Institutions |
9784 |
- |
|
Sub Total |
196766610 |
44.05 |
|
|
|
|
|
|
3468059 |
0.78 |
|
|
|
|
|
|
20433447 |
4.57 |
|
|
15201500 |
3.40 |
|
Any others (Specify) |
|
|
|
Trusts |
279280 |
0.06 |
|
Non Resident Indian |
578604 |
0.13 |
|
Clearing Members |
309241 |
0.07 |
|
Foreign Nationals |
3000 |
- |
|
|
40273131 |
9.02 |
|
Total Public
shareholding (B) |
237039741 |
53.07 |
|
Total (A)+(B) |
446641681 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total
(A)+(B)+(C) |
446641681 |
100.00 |
(1)
Indian
Individuals
/ Hindu Undivided Family
Individual
shareholders holding nominal share capital up to Rs.0.100 million BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Bulk Drugs and
Formulations. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Tablets |
No. in Millions |
10580.0 |
10199.0 |
|
Liquids |
Kilo-Liters |
3995.0 |
1671.7 |
|
Capsules |
No in Millions |
2393.0 |
1148.3 |
|
Injections: |
|
|
|
|
- Liquids |
Kilo-Liters |
42.0 |
104.5 |
|
- Vials |
No in Millions |
12.0 |
30.0 |
|
Creams and Powder |
MT |
312.0 |
326.3 |
|
Inhalers |
No. In million |
4.3 |
2.6 |
|
Bulk drugs and Intermediates |
MT |
5459.0 |
2998.2 |
GENERAL INFORMATION
|
No. of Employees : |
4000 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
Note: Working Capital
Loans from Banks include foreign currency loans of 1161.800 millions. Unsecured Loans
(other than working capital loans) include 38.300 millions repayable within
one year. |
||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
|
|
|
Solicitors: |
Crawford Bayley and Company |
|
|
|
|
Subsidiaries: |
|
|
|
|
|
Associates : |
|
|
|
|
|
Relatives
of Key Management Personnel and Entities in which the Key Management
Personnel have control or significant influence: |
|
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000000 |
Equity Share |
Rs .2/- each |
Rs. 1000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
446201189 |
Equity Share |
Rs. 2/- each |
Rs. 892.400
Millions |
|
|
|
|
|
Note:
Of the above Equity
Shares-
1. 186,555,240*
Equity Shares of 2/- each were allotted
as fully paid-up without payment being received in cash, pursuant to the Scheme
of Amalgamation with erstwhile Lupin Laboratories Limited.
2. 200,762,470*
Equity Shares of 2/- each have been
allotted as fully paid-up bonus shares by way of capitalisation of General
Reserve.
3. 40,219,555*
Equity Shares of 2/- each fully paid-up have been allotted on conversion of
Foreign Currency Convertible Bonds in accordance with the terms of the issue.
4. 4,513,494*
Equity Shares of 2/- each fully paid-up have been allotted pursuant to Lupin
Employees Stock Option Plans. Particulars of options on unissued share capital.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
892.400 |
889.400 |
828.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
30634.200 |
24416.100 |
12924.800 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
31526.600 |
25305.500 |
13753.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6374.600 |
7040.000 |
5651.200 |
|
|
2] Unsecured Loans |
3458.300 |
2028.100 |
3797.900 |
|
|
TOTAL BORROWING |
9832.900 |
9068.100 |
9449.100 |
|
|
DEFERRED TAX LIABILITIES |
1785.700 |
1582.500 |
1347.300 |
|
|
|
|
|
|
|
|
TOTAL |
43145.200 |
35956.100 |
24549.400 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
13546.300 |
11913.900 |
9756.200 |
|
|
Capital work-in-progress |
4829.000 |
1408.300 |
1163.100 |
|
|
|
|
|
|
|
|
INVESTMENT |
6808.800 |
7240.700 |
4738.700 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
8411.100
|
7137.000
|
7158.800 |
|
|
Sundry Debtors |
12347.500
|
9165.900
|
7090.600 |
|
|
Cash & Bank Balances |
374.600
|
374.200
|
121.300 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
5800.400
|
6466.000
|
3666.400 |
|
Total
Current Assets |
26933.600
|
23143.100
|
18037.100 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
6404.500
|
4411.900
|
4189.800 |
|
|
Other Current Liabilities |
579.000
|
1669.900
|
3532.000 |
|
|
Provisions |
1989.000
|
1668.100
|
1423.900 |
|
Total
Current Liabilities |
8972.500
|
7749.900
|
9145.700 |
|
|
Net Current Assets |
17961.100
|
15393.200
|
8891.400 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
43145.200 |
35956.100 |
24549.400 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
44262.500 |
36730.500 |
28985.600 |
|
|
|
Other Income |
852.100 |
395.600 |
724.000 |
|
|
|
TOTAL (A) |
45114.600 |
37126.100 |
29709.600 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials / Goods |
17661.000 |
14927.700 |
12418.500 |
|
|
|
Personnel Expenses |
4912.300 |
3765.500 |
3344.700 |
|
|
|
Manufacturing and Other Expenses |
12785.300 |
10246.800 |
8153.900 |
|
|
|
TOTAL (B) |
35358.600 |
28940.000 |
23917.100 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9756.000 |
8186.100 |
5792.500 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
256.900 |
283.800 |
415.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9499.100 |
7902.300 |
5377.300 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1042.800 |
815.700 |
663.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
8456.300 |
7086.600 |
4713.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
356.500 |
597.300 |
544.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
8099.800 |
6489.300 |
4169.700 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9945.100 |
6368.500 |
4910.100 |
|
|
Add |
Adjustment on
account of Amalgamation of Subsidiaries |
(338.9) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1500.000 |
1500.000 |
1500.000 |
|
|
|
Dividend |
1338.600 |
1200.700 |
1035.300 |
|
|
|
Dividend on Equity Shares issued after the
previous year end |
2.000 |
10.800 |
0.100 |
|
|
|
Corporate Tax on Dividend |
217.500 |
201.200 |
175.900 |
|
|
BALANCE CARRIED
TO THE B/S |
14647.900 |
9945.100 |
6368.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
25230.400 |
20787.200 |
15821.200 |
|
|
|
Deemed exports |
298.200 |
218.300 |
327.500 |
|
|
|
Reimbursement of freight and insurance on
exports |
215.300 |
143.900 |
129.800 |
|
|
|
|
|
251.000 |
94.000 |
|
|
|
Income from Product Registration Services
(Dossiers) |
579.500 |
78.600 |
79.300 |
|
|
|
Interest on Bank Fixed Deposits |
0.000 |
0.000 |
26.400 |
|
|
|
Compensation received |
213.300 |
51.800 |
0.00 |
|
|
|
Others |
9.500 |
1.100 |
1.000 |
|
|
TOTAL EARNINGS |
26546.200 |
21531.900 |
16479.200 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
5873.900 |
4456.300 |
4557.300 |
|
|
|
Packing Materials |
291.900 |
307.000 |
205.600 |
|
|
|
Capital Goods |
571.600 |
519.900 |
504.300 |
|
|
|
Purchase of Traded Goods |
186.900 |
164.300 |
126.400 |
|
|
|
Consumable, Stores and Spares |
239.500 |
199.400 |
142.600 |
|
|
TOTAL IMPORTS |
7163.800 |
5646.900 |
5536.200 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
18.18 |
15.08 |
50.58 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
30.06.2011 |
30.09.2011 |
31.12.2011 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Sales Turnover |
11057.800 |
14074.800 |
14053.800 |
|
Total Expenditure |
9920.900 |
10585.000 |
11046.600 |
|
PBIDT (Excl
OI) |
1136.900 |
3489.800 |
3007.200 |
|
Other Income |
2.200 |
2.500 |
14.700 |
|
Operating
Profit |
1139.100 |
3492.300 |
3021.900 |
|
Interest |
44.800 |
52.700 |
68.600 |
|
Exceptional
Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
1094.300 |
3439.600 |
2953.300 |
|
Depreciation |
288.900 |
317.400 |
329.900 |
|
Profit
Before Tax |
805.400 |
3122.200 |
2623.400 |
|
Tax |
77.900 |
441.000 |
477.300 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
727.500 |
2681.200 |
2146.100 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
727.500 |
2681.200 |
2146.100 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
18.74
|
17.48
|
14.03 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
19.10
|
19.47
|
16.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.89
|
20.21
|
16.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
26.82
|
66.46
|
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.65
|
0.66
|
0.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.00
|
2.99
|
1.97 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
No |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
No |
|
Name of Person Contacted |
No |
|
Designation of Contact person |
No |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
------------- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
Yes |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
---------- |
|
Litigations that the firm/ Promoters Involved in |
------------ |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
------------- |
|
Buyer visit details |
---------- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
Performance Review
The Company recorded an impressive growth by scaling newer heights
and benchmarks in terms of sales and profits for the year ended March 31, 2011.
Consolidated sales at 57421.700 millions, were higher by 20% over 48009.500 millions of the
previous year. International markets accounted for 68% of the overall revenues.
Net Profit at 8625.500 millions as against 6816.300 millions registered a
growth of 27%. Earnings per share was higher at 19.36 as compared with 15.84
for the previous year.
Amalgamation
With a view to achieving synergies of operations, optimum
utilisation of resources and control costs, the Board of Directors had decided to
amalgamate Novodigm Limited, Lupin Pharmacare Limited and Lupin Herbal Limited
(wholly-owned subsidiaries of the company) with the company w.e.f. April 1,
2009 i.e. ‘the Appointed Date’.
The Hon’ble High Court of Judicature at
Future Plan
The company’s
vision and efforts have always been focussed on developing, discovering and
commercialising novel drugs to address disease areas with significant unmet
medical need. The company plans to launch its first Biological in the Indian
market by next year pending approvals from regulatory authorities and is
exploring strategic partnerships and collaborative arrangements for new
biological formulations and biological entities globally. The company seeks to
license its ADDS platforms to other pharma majors while developing niche
branded products at the same time.
UNAUDITED STANDALONE FINANCIAL RESULTS
FOR THE QUARTER AND NINE MONTHS ENDED ON 31.12.2011
(Rs. in millions)
|
Sr. No. |
Particular |
Quarter
ended 31/12/2011 (Unaudited) |
Nine Months
ended
31/12/2011 (Unaudited) |
|
1. |
a) Sales / Gross |
14029.800 |
39057.000 |
|
|
Less: Excise Duty |
112.200 |
327.900 |
|
|
Sales (Net) |
13917.600 |
38729.100 |
|
|
b) Other Operating Income |
136.200 |
457.300 |
|
|
Total |
14053.800 |
39186.400 |
|
2. |
Expenditure |
|
|
|
|
a)
(Increase) / Decrease in Stock in Trade |
(528.300) |
(1230.300) |
|
|
b)
Consumption of raw and packing materials |
4314.400 |
11624.200 |
|
|
c)
Purchase of Traded Goods |
1718.400 |
5070.700 |
|
|
d)
Employees Cost |
1502.000 |
4293.100 |
|
|
e)
Depreciation |
329.900 |
936.200 |
|
|
f)
Other Expenditure |
4040.100 |
11794.800 |
|
|
f) Total |
11376.500 |
32488.700 |
|
3. |
Profit
From Operations before Other Income, Interest and Exceptional Items (1-2) |
2677.300 |
6697.700 |
|
4. |
Other Income |
14.700 |
19.400 |
|
5. |
Profit Before Interest and Exceptional Items (3+4) |
2692.000 |
6717.100 |
|
6. |
Interest |
68.600 |
166.100 |
|
7. |
Profit After Interest but before Exceptional Items (5-6) |
2623.400 |
6551.000 |
|
8. |
Exceptional Items |
-- |
-- |
|
9. |
Profit from Ordinary Activities before Tax (7+8) |
2623.400 |
6551.000 |
|
10. |
Tax Expense (current and deferred) |
477.300 |
996.200 |
|
11. |
Net Profit from Ordinary Activities after Tax (9-10) |
2146.100 |
5554.800 |
|
12. |
Extraordinary Item (net of expense) |
-- |
-- |
|
13. |
Net Profit for the period (11-12) |
2146.100 |
5554.800 |
|
14. |
Paid-up Equity Share Capital (Face Value of Rs.10/- Each) |
893.200 |
893.200 |
|
15. |
Reserves Excluding Revaluation Reserve |
|
-- |
|
16. |
Earning
Per Share (EPS) (Rs.)-Not Annualised |
|
|
|
|
a) Basic and diluted EPS before extraordinary items |
4.81 |
12.44 |
|
|
b) Basic and diluted EPS after extraordinary items |
4.79 |
12.39 |
|
17. |
Public
Shareholding |
|
|
|
|
-Number of Shares |
236996312 |
236996312 |
|
|
- Percentage of Shareholding |
53.07 |
53.07 |
|
18. |
Promoters
and Promoter Group Shareholding |
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
- Number of Shares |
-- |
Nil |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of promoter and promoter group) |
-- |
Nil |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
-- |
Nil |
|
|
b)
Non Encumbered |
|
|
|
|
- Number of Shares |
209602140 |
209602140 |
|
|
- Percentage of Shares (as a % of the Total Shareholding of
Promoter and Promoter Group) |
100.00 |
100.00 |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
46.93 |
46.93 |
Note:
The above Standalone
Financial Results were reviewed by the Audit Committee and thereafter approved
and taken on record by the Board of Directors at their meeting held on
24.01.2012. The Statutory Auditors of the company have carried out limited
review of the above standalone results pursuant to clause 41 of the Listing
Agreement.
During the
quarter, 91,085 (year to date 397,263) equity shares of Rs. 2/- each, fully paid-up, were
allotted upon exercise of the vested stock options pursuant to the Lupin
Employees Stock Option Plans, resulting in an increase in the paid-up share
capital by Rs. 0.200 million (year- to- date Rs. 0.800 million) and securities
premium account by Rs. 10.700 millions (year - to- date Rs. 43.900 millions).
During the
quarter, the company has granted stock appreciation rights (“SARs”) to certain
eligible employees in accordance with Lupin Employees Stock Appreciation Rights
Scheme (“LESARs 2011) as approved by the Board of Directors (Board). Under the
scheme, eligible employees are entitled to receive appreciation in value of
shares on completion of the vesting period. The scheme is administered through
the Lupin Employees Benefit Trust (the “Trust”) as settled by the company. The
Trust is administered by independent Trustees. As approved by the Board, the
company has advanced an interest free loan of Rs. 218.900 Millions to the Trust
during the quarter to acquire appropriate number of Equity Shares of the
company from the market on the grant date of SARs. At the end of the vesting
period of 3 years, the equity shares will be sold in the market by the Trust
and the appreciation on the same will be distributed to the said employees,
subject to vesting conditions. During the quarter, the company has granted
461152 number of SARs to eligible employees in terms of LESARs 2011.
During the
quarter, Kyowa Pharmaceutical Industry Company Limited –
8. The aggregate
amount of revenue expenditure incurred on Research and Development as reflected
under the respective heads of account is as under:
|
|
Quarter ended 31.12.2011 |
Quarter ended 30.09.2010 |
Quarter ended 31.12.2011 |
Nine Months ended 31.03.2011 |
Nine Months ended 31.12.2010 |
Accounting year ended 31.03.2011 |
|
Rs. In Millions |
1229.200 |
1301.200 |
998.900 |
3458.000 |
2964.300 |
4310.900 |
The Company
operates in one reportable business segment i.e. "Pharmaceuticals".
There was no unresolved
investor complaint pending as on 01.01.2011. The Company received 8 complaints
during the quarter which were resolved. There was no unresolved complaint
pending as on 31.03.2011.
Figures for the previous
periods have been regrouped, wherever necessary, to correspond with the figures
of the current period.
Provisions,
Contingent Liabilities and Contingent Assets:
Provisions
involving substantial degree of estimation in measurement are recognised when
there is a present obligation as a result of past events and it is probable
that there will be an outflow of resources. Contingent Liabilities are not
recognised but are disclosed in the Notes to Accounts. Contingent Assets are
neither recognised nor disclosed in the financial statements.
Fixed Assets:
- Buildings
- Plant and Machinery
- Furniture and Fixtures
- Office Equipments
- Vehicles
Press Release:
Lupin launchesGeneric Seroquel®Tablets Receives Final Fda Approval For
Its Generic Seroquel®Tablets
Mumbai /
Pharma major, Lupin Ltd., announced today that it has received
final approval for its Quetiapine Fumarate Tablets 25 mg, 50 mg, 100 mg, 200
mg, 300 mg and 400 mg strengths from the U.S. Food and Drug Administration
(FDA).
Quetiapine Fumarate Tablets is AB rated generic equivalent of
AstraZeneca's SEROQUEL® Tablets (25, 50, 100, 200, 300 & 400 mg). Lupin has
already commenced shipping product.
Quetiapine is a psychotropic agent, indicated for treatment of
Schizophrenia & acute treatment of manic episodes associated with bipolar I
disorder, both as monotherapy and as an adjunct to lithium or divalproex. It is
also indicated as monotherapy for the acute treatment of depressive episodes
associated with bipolar disorder and for the maintenance treatment of bipolar I
disorder, as an adjunct to lithium or divalproex.
AstraZeneca's SEROQUEL® Tablets had sales of USD 4.6 billion as
per IMS Health, December 2011.
About Lupin Limited
Headquartered in
Lupin is the 5th largest and fastest growing generics player in
the
For the financial year ended March 2011, Lupin's Consolidated
Revenues and Profit after Tax were Rs. 57,068 Million (USD 1.28 Billion) and
Rs. 8,626 Million (USD 193 Million) respectively. Please visit http://www.lupinworld.com for more
information about Lupin Ltd.
About Lupin Pharmaceuticals, Inc.
Lupin Pharmaceuticals, Inc. is the
For further information please contact:
Shamsher
Gorawara
Head – Corporate Communications
Lupin Limited:
Ph: +91 98 20 338 555
Email: shamshergorawara@lupinpharma.com
Safe Harbor Statement under the U. S. Private Securities
Litigation Reform Act of 1995: This release contains forward-looking statements
that involve known and unknown risks, uncertainties and other factors that may
cause actual results to be materially different from any future results,
performance or achievements expressed or implied by such statements. Many of
these risks, uncertainties and other factors include failure of clinical
trials, delays in development, registration and product approvals, changes in
the competitive environment, increased government control over pricing,
fluctuations in the capital and foreign exchange markets and the ability to
maintain patent and other intellectual property protection. The information
presented in this release represents management's expectations and intentions
as of this date. Lupin expressly disavows any obligation to update the
information presented in this release
*SEROQUEL® Tablets are a registered trademark / copyright of
AstraZeneca.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or investigation
registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 52.48 |
|
|
1 |
Rs. 84.65 |
|
Euro |
1 |
Rs. 69.25 |
INFORMATION DETAILS
|
Report Prepared
by : |
ACH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
77 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.