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LUPIN LIMITED
Registered Office: 159, C.S.T. Road, Kalina, Santacruz (East),
Mumbai - 400 098.
UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED SEPTEMBER 30, 2008. |
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(Rs. in Lakhs) |
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1) a. Sales (Gross) |
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76,564 |
73,094 |
149,358 |
134,828 |
260,986 |
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Less: Excise Duty |
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1,296 |
1,662 |
2,848 |
3,221 |
6,617 |
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Sales (Net) |
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75,268 |
71,432 |
146,510 |
131,607 |
254,369 |
| b.
Other Operating Income |
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1,879 |
1,412 |
3,532 |
2,470 |
18,226 |
| 2) Total |
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77,147 |
72,844 |
150,042 |
134,077 |
272,595 |
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3) Expenditure
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- Decrease/(Increase) in stock in trade and
work-in-progress
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(6,644) |
(4,280) |
(7,672) |
(8,079) |
( 18,417) |
- Consumption of raw and packing materials
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26,701 |
28,107 |
48,333 |
49,176 |
97,087 |
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Purchase of traded goods goods
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8,273 |
8,216 |
17,674 |
16,455 |
30,952 |
- Employees cost (Refer note no.7 below)
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10,563 |
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6,734 |
17,329 |
12,149 |
24,182 |
- Depreciation and amortisation
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1,580 |
1,389 |
3,116 |
2,658 |
5,611 |
- Manufacturing and other expenses
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20,728 |
17,136 |
41,432
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35,979 |
75,493 |
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Total |
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61,201 |
57,302 |
120,212 |
108,338 |
214,908 |
| 4 )
Profit from Operations before Other Income,
Interest and Exceptional Items |
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15,946 |
15,542 |
29,830 |
25,739 |
57,687 |
| 5 )
Other Income |
97 |
349 |
325 |
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805 |
1,516 |
| 6)
Profit before Interest and Exceptional Items |
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16,043 |
15,891 |
30,155 |
26,544 |
59,203 |
| 7)
Interest and finance charges |
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1,079 |
800 |
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1,944 |
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1,690 |
3,439 |
| 8)
Profit after Interest but before Exceptional Items |
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14,964 |
15,091 |
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28,211 |
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24,854 |
55,764 |
| 9) Exceptional items |
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- |
- |
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- |
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- |
- |
| 10) Profit from Ordinary Activities before tax |
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14,964 |
15,091 |
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28,211 |
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24,854 |
55,764 |
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11) Tax Expense |
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1,242 |
2,927 |
3,282 |
4,499 |
10,280 |
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528 |
356 |
883 |
709 |
1,146 |
| 12) Net
Profit from Ordinary Activities after tax |
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13,194 |
11,808 |
24,046 |
19,646 |
44,338 |
| 13) Extraordinary items (net of tax expense) |
- |
- |
- |
- |
- |
| 14) Net profit |
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13,194 |
11,808 |
24,046 |
19,646 |
44,338 |
| 15) Paid
up equity share capital (Face value Rs.10/- each) |
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8,229 |
8,205 |
8,229 |
8,205 |
8,208 |
| 16)
Reserves excluding Revaluation Reserves |
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123,497 |
| 17) Earnings Per Share [EPS] (Not Annualised) Rs. |
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16.06 |
14.59 |
29.28 |
24.25 |
54.31 |
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15.79 |
14.33 |
28.78 |
23.80 |
54.06 |
| 18)
Public Shareholding |
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Number of share |
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40356748 |
40082086 |
40356748 |
40082086 |
40117137 |
| Percentage of
shareholding
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49.04 |
48.85 |
49.04 |
48.85 |
48.88 |
| NOTES: |
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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 October 24, 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. The Company is exclusively in the Pharmaceutical business and has only one reportable primary segment.
3. The aggregate amount of revenue expenditure incurred on Research and Development and shown in the
respective heads of account is as under: |
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Rs. in Lakhs |
5,143 |
3,147 |
9,234 |
6,879 |
15,464 |
4.
During the quarter, 125,128 (year to date 131,930) 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.12 lakhs (year to date Rs. 13
lakhs) and securities premium by Rs. 377 lakhs (year to date Rs. 401 lakhs).
5.
During the quarter, in accordance with the terms of issue, Foreign Currency Convertible Bonds aggregating US$
1 million (year to date US$ 1 million) were converted into 81,581 (year to date 81,581) equity shares of Rs.10/-
each, fully paid-up, at a predetermined price of Rs. 567.04 per share, thereby resulting into an increase in the
paid-up share capital by Rs. 8 lakhs (year to date Rs.8 lakhs) and securities premium by Rs. 454 lakhs (year to
date Rs. 454 lakhs).
6.
The Company during the quarter through its wholly owned subsidiary Lupin Holdings B.V., Netherlands acquired
100% equity shares of Hormosan Pharma GmbH, Germany and 60% equity shares of Pharma Dynamics
(Proprietary) Ltd., South Africa.and also subscribed to 36.65% of equity shares of Generic Health Pty. Ltd.,
Australia, thereby becoming its largest shareholder.
7. The Company during the quarter recognised an amount aggregating Rs. 2,974 lakhs towards the termination
benefits payable to the permanent workers under the Voluntary Retirement Scheme (VRS) and discounted value
of the pensions payable under the said scheme consequent to implementation of the VRS scheme on
restructuring of operations of its manufacturing plant located at Aurangabad.
8. There was no unresolved investor complaint pending as on July 01, 2008. The Company received 17 complaints
during the quarter which were resolved. There was no unresolved complaint pending as on September 30, 2008.
9. 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 |
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Place: Mumbai
Dated: October 24 , 2008 |
Dr. Desh Bandhu Gupta
Chairman |
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