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.
FY21 has been a year of many firsts for Lupin Ltd. – launch of its first inhalation product -gProAir and gBrovana AG in the U.S., launch of first biosimilar – Etanercept in the Europe, first generic launch of Fostair in the UK.
Besides, company has exhibited sharp improvement in its U.S. subsidiaries (converged into profits versus loss YoY).
This we believe is due to cost optimisation and reduction in branded specialty portfolio promotions.
Profitability of the standalone business grew 72% YoY to Rs 13 billion and with overall subsidiary losses narrowing to Rs 451 million, profits are equivalent to FY18 levels.
While Lupin’s effective tax rate has lowered to 26%, the cash tax paid remains high at 43%.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.