BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Lupin Ltd. reported poor Q2 numbers operationally despite an in-line sales growth of Rs 4 billion, impacted by higher input costs, change in royalty/profit sharing clause and restructuring the U.S. specialty biz to reduce cash burn.
Company incurred multiple one-offs, which impacted margins (~150 basis points impact) at 15%.
Lupin reported net loss in Q2 owing to one time settlement for Glumetza of $250 million.
On the positive side, revenues in the U.S. at $184 million (up $12 million QoQ) and 16% YoY growth in India aided top-line.
Lupin seems to be in a reset mode where it is shedding the flab around the loss making specialty business in the U.S. and mitigating risk on its research and development programs via external funding.
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