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LUPIN LIMITED

Registered Office: 159, C.S.T. Road, Kalina, Santacruz (East),
Mumbai - 400 098. UNAUDITED FINANCIAL RESULTS FOR
THE QUARTER ENDED DECEMBER 31, 2007.

(Rs. in million)

 

Quarter  Ended  31/12/2007 (Unaudited)
Quarter Ended
31/12/2006(Unaudited)
 

Nine Months Ended 31/12/2007 (Unaudited)

Nine Months Ended 31/12/2007 (Unaudited)

Accounting Year Ended 31/03/2007 (Audited)
 
1) Sales (Gross)  

6,245.8

5,068.6

19,728.6

14,985.4

20,288.7
    Less: Excise Duty    

165.3

139.2

487.4

456.7

579.4
    Sales (Net)    

6,080.5

4,929.4

19,241.2

14,528.7

19,709.3
2) Other Income    

1 ,390.0
1 82.6

1,717.5

583.1
1,866.5
3) Total Income    

7 ,470.5
5,112.0
20,958.7

15,111.8
21,575.8

4) Expenditure

             

  • Decrease/(Increase) in stock  in trade and work-in-progress

   

( 458.0)

(153.2)

(1,265.9)

( 352.5)

(425.9)
  • Consumption of raw and packing materials
   

2,467.0

1,801.0

7,384.6

5,268.4

7,297.0
  • Purchase of traded goods goods
    

694.9

512.9

2,340.4

1,801.6

2,256.6
  • Employees cost
    

604.9

494.6

1,819.8

1,412.3

1,875.0
  • Depreciation and amortisation
   

141.9

120.7

407.7

338.5

463.7
  • Manufacturing and other expenses
   

1,783.5

1,518.8

5,381.4

4,212.9

5,771.0

Total

    

5,234.2

4,294.8

16,068.0

12,681.2

17,237.4
5 ) Interest and finance charges  

89.8
88.7
258.8

272.8
370.9
6 ) Exceptional items

-
-
-
  

-
-
7) Profit from Ordinary Activities before tax    

2,146.5
728.5
4,631.9

2,157.8
3,967.5
8) Tax Expense                  

  • Current and deferred tax

    

412.2

1 45.0

862.1

441.7

866.9

  • Fringe benefit tax

    

31.5

23.2

102.4

66.3

80.0
9) Net Profit from Ordinary Activities after tax    

1,702.8
5 60.3
3,667.4

1,649.8
3,020.6
10) Extraordinary items (net of tax expense)

-
-
-

-
-
11) Net profit    

1 ,702.8
560.3
3,667.4

1,649.8
3,020.6
12) Paid up equity share capital
(Face value Rs.10/- each)		    

820.6
803.3
820.6

803.3
803.4
13) Reserves excluding Revaluation Reserves
 
 
8,080.7
14) Earnings Per Share [EPS] (Not Annualised) Rs.            
  • Basic
    

20.75

6.98

45.01

20.55

37.10
  • Diluted
    

20.55
6.95
44.53

20.47
36.93
15) Public Shareholding      

Number of share

    

40095666

38278665

40095666

38278665

38295606
Percentage of shareholding    

48.86
47.65
48.86

47.65
47.66
 NOTES:
 
 
 

1. The above 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 January 22, 2008. The statutory auditors of the Company have carried out limited review of the above results pursuant to Clause 41 of the Listing Agreement.

2. Information on segments has been disclosed on a consolidated basis in accordance with Accounting Standard 17 "Segment Reporting".

3. The aggregate amount of revenue expenditure incurred on Research & Development and shown in the respective heads of account is as under:
           
Quarter
Ended
 31/12/2007		 Quarter
Ended
 31/12/2006		 Nine Months Ended 31/12/2007 Nine Months Ended 31/12/2006 Accounting
Year Ended
31/03/2007
Rs. in million

3 76.5

315.8

1,064.4

954.0

1,359.0

4. During the quarter, the Company received income of Rs. 1127.2 million ( Accounting Year ended 31.03.2007 Rs. 1143.2 million) on account of sale of rights in Patent Applications for 'Perindopril' which has been included in the Other Income.

5. During the quarter, 13,580 (aggregate to date 58,760) equity shares of Rs.10/- each, fully paid up were allotted on exercise of the vested stock options in accordance with the terms of exercise under the Lupin Employees Stock Option Plans, thereby resulting into an increase in the paid up share capital by Rs. 0.1 million (aggregate to date Rs. 0.6 million) and securities premium by Rs. 4.4 million (aggregate to date Rs. 18.1 million).

6. During the quarter, the Company through its wholly owned subsidiary Lupin Holdings B.V., Netherlands, acquired 90.3% equity shares of Kyowa Pharmaceutical Industry Co. Ltd., a leading Japanese generic company.

7. There was no unresolved investor complaint pending as on October 1, 2007. The Company received 21 complaints during the quarter which were resolved. There was no unresolved complaint pending as on December 31, 2007.

8. Figures for the previous periods have been regrouped, wherever necessary, to correspond with the figures of the current period.
By order of the Board
For Lupin Limited
  Place: Mumbai
  Dated: October 24 , 2007

Dr. Desh Bandhu Gupta
   Chairman

   

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