Integrated Filing — IndAS

General information about company
Scrip Code	500257
NSE Symbol	LUPIN
MSEI Symbol	NOTLISTED
ISIN	INE326A01037
Name of company	Lupin Limited
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-Apr-2024
Date of end of financial year	31-Mar-2025
Date of board meeting when results were approved	14-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	29-Apr-2025
Description of presentation currency	INR (in Actuals)
Reporting Type	Quarterly
Reporting Quarter	Fourth quarter
Nature of report standalone or consolidated	Standalone
Whether results are audited or unaudited for the quarter ended	Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended	Audited
Segment Reporting	Single segment
Description of single segment	Pharmaceuticals
Start date and time of board meeting	14-May-2025   17:00:00
End date and time of board meeting	14-May-2025   19:55:00
Whether cash flow statement is applicable on company	Yes
Type of cash flow statement	Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification	Declaration of unmodified opinion
Whether the company has any related party?	Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure?	Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public	NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure.	NA
Whether the company is a high value debt listed entity according to regulation 15 (1A)?	No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company?	Yes
Latest Date on which RPT policy is updated	2025-02-11
Indicate Company website link for updated RPT policy of the Company	https://www.lupin.com/wp-content/uploads/2025/03/policy-on-related-party-transactions.pdf
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter?	No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity?	No
The disclosure for the default on Loans and Debt Securities is not applicable to the Company.

Financial Results Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	44856700000	169675000000
	Other income	487900000	1740500000
	Total income	45344600000	171415500000
2	Expenses
(a)	Cost of materials consumed	9236000000	37167200000
(b)	Purchases of stock-in-trade	2777400000	12468500000
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	-256500000	-383500000
(d)	Employee benefit expense	5524200000	23120700000
(e)	Finance costs	338500000	845000000
(f)	Depreciation, depletion and amortisation expense	2079800000	6476900000
(f)	Other Expenses
1	Other Expenses	10131200000	43370700000
2	Net (gain)/loss on foreign currency transactions	-16900000	-793400000
	Total other expenses	10114300000	42577300000
	Total expenses	29813700000	122272100000
3	Total profit before exceptional items and tax	15530900000	49143400000
4	Exceptional items	0	-772200000
5	Total profit before tax	15530900000	48371200000
6	Tax expense
7	Current tax	2702500000	8571200000
8	Deferred tax	-85100000	70400000
9	Total tax expenses	2617400000	8641600000
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
11	Net Profit Loss for the period from continuing operations	12913500000	39729600000
12	Profit (loss) from discontinued operations before tax	0	0
13	Tax expense of discontinued operations	0	0
14	Net profit (loss) from discontinued operation after tax	0	0
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
16	Total profit (loss) for period	12913500000	39729600000
17	Other comprehensive income net of taxes	-116300000	-144700000
18	Total Comprehensive Income for the period	12797200000	39584900000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent
	Total profit or loss, attributable to non-controlling interests
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent
	Total comprehensive income for the period attributable to owners of parent non-controlling interests
21	Details of equity share capital
	Paid-up equity share capital	913200000	913200000
	Face value of equity share capital	2	2
27	Details of debt securities
22	Reserves excluding revaluation reserve		241869200000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	28.3	87.1
	Diluted earnings (loss) per share from continuing operations	28.21	86.79
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	28.3	87.1
	Diluted earnings (loss) per share from continuing and discontinued operations	28.21	86.79
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		1.tThe 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 May 14, 2025. n n2.tThe Board of Directors have, at its meeting held on May 14, 2025 recommended a dividend of Rs. 12/- per equity share of the face value of Rs. 2/- each aggregating Rs. 5,478.8 million. The recommended dividend is subject to the approval of the shareholders at the ensuing Annual General Meeting. n n3.tDuring the quarter ended March 31, 2025, 330,503 (year-to-date 886,137) 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 (ESOPs), resulting in an increase in the paid-up share capital by Rs. 0.7 million (year-to-date Rs. 1.8 million) and securities premium account by Rs. 334.0 million (year-to-date Rs. 1,082.3 million). n n4.tDuring the quarter ended December 31, 2024 and year ended March 31, 2025, the Company has made a provision of Rs. 856.1 million (USD 10 million) towards ongoing dispute. n n5.tThe Company has determined that the carrying value of investment in two subsidiaries is higher than the recoverable amount. Accordingly, the Company has provided for impairment in value of investment of Rs. 772.2 million for the quarter ended December 31, 2024 and year ended March 31, 2025. n n6.tDuring the quarter ended June 30, 2024 and year ended March 31, 2025, Lupin Limited and its subsidiary, agreed to settle the dispute for an amount of USD 9 million (Rs. 750.5 million) in connection with the drug Glumetza® without admitting any liability for any wrongdoing, with a view to avoid the costs and uncertainties of continued litigation. n n7.tDuring the current quarter and year ended March 31, 2025, the Company had recognised an impairment charge of Rs. 410.9 million related to property, plant and equipment, commercialized intangibles and capital work-in-progress. During the quarter and year ended March 2024, the Company had recognised an impairment charge of Rs. 1,493.9 million related to commercialized intangibles and certain intangibles under development. n n8.tPursuant to the meeting of the Board of Directors held on February 12, 2025 and March 31, 2025, the Company has agreed to transfer its Over the Counter ('OTC') business in India to its wholly owned subsidiary Lupinlife Consumer Healthcare Limited, as a going concern on slump sale basis for a consideration in a range of Rs. 8,000 million – Rs. 9,000 million and subject to working capital adjustments. The Company expects to execute Business Transfer Agreement by June 30, 2025. As on March 31, 2025, the Company has disclosed all related assets and liabilities as disposal group held for sale. n n9.tPursuant to the meeting of the Board of Directors held on March 31, 2025, the Company has agreed to transfer its API R&D Business in India to its wholly owned subsidiary Lupin Manufacturing Solutions Limited, as a going concern on slump sale basis for a consideration in a range of Rs. 175 million – Rs. 225 million and subject to working capital adjustments. The Company expects to execute Business Transfer Agreement by June 30, 2025. As on March 31, 2025, the Company has disclosed all related assets and liabilities as disposal group held for sale. n n10.tDuring the year ended March 31, 2024, Sales / Income from operations includes milestone income of Rs. 2,052.5 million (USD 25.0 million) from AbbVie for successful achievement of key milestone for its Phase 1 clinical stage MALT1 inhibitor program. n n11.tUpon execution of the Business Transfer Agreement, the Company on June 07, 2024 had transferred its generic business in India to its wholly owned subsidiary Lupin Life Sciences Limited (formerly known as Lupin Atharva Ability Limited), as a going concern on slump sale basis for a consideration of Rs. 1,100 million. n n12.tUpon execution of the Business Transfer Agreement, the Company on November 01, 2023 had transferred Active Pharmaceutical Ingredients manufacturing sites at Dabhasa and Visakhapatnam and select R&D operations to its wholly owned subsidiary Lupin Manufacturing Solutions Limited, as a going concern on slump sale basis for a consideration of Rs. 7,222.3 million.

Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Statement of Asset and Liabilities
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-Apr-2024
Date of end of reporting period		31-Mar-2025
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Standalone
	Assets
1	Non-current assets
	Property, plant and equipment	34456700000
	Capital work-in-progress	2319000000
	Investment property	0
	Goodwill	0
	Other intangible assets	11554500000
	Intangible assets under development	464700000
	Biological assets other than bearer plants	0
	Investments accounted for using equity method	0
	Non-current financial assets
	Non-current investments	109514700000
	Trade receivables, non-current
	Loans, non-current	1282700000
	Other non-current financial assets	743900000
	Total non-current financial assets	111541300000
	Deferred tax assets (net)	0
	Other non-current assets	5038200000
	Total non-current assets	165374400000
2	Current assets
	Inventories	32272200000
	Current financial asset
	Current investments	10035600000
	Trade receivables, current	56643500000
	Cash and cash equivalents	3418000000
	Bank balance other than cash and cash equivalents	1167800000
	Loans, current	345700000
	Other current financial assets	3919800000
	Total current financial assets	75530400000
	Current tax assets (net)	0
	Other current assets	11142900000
	Total current assets	118945500000
3	Non-current assets classified as held for sale	0
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	284319900000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	913200000
	Other equity	241869200000
	Total equity attributable to owners of parent	242782400000
	Non controlling interest
	Total equity	242782400000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	2258400000
	Trade payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises	0
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	0
	Total Trade payable	0
	Other non-current financial liabilities
	Total non-current financial liabilities	2258400000
	Provisions, non-current	3985000000
	Deferred tax liabilities (net)	1552900000
	Deferred government grants, Non-current
	Other non-current liabilities	743800000
	Total non-current liabilities	8540100000
	Current liabilities
	Current financial liabilities
	Borrowings, current	0
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	764600000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	18923100000
	Total Trade payable	19687700000
	Other current financial liabilities	3482300000
	Total current financial liabilities	23170000000
	Other current liabilities	3915700000
	Provisions, current	1793600000
	Current tax liabilities (Net)	3445900000
	Deferred government grants, Current	0
	Total current liabilities	32325200000
3	Liabilities directly associated with assets in disposal group classified as held for sale	672200000
4	Regulatory deferral account credit balances and related deferred tax liability	0
	Total liabilities	41537500000
	Total equity and liabilites	284319900000
	Disclosure of notes on assets and liabilities

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-Jan-2025	01-Apr-2024
Date of end of reporting period		31-Mar-2025	31-Mar-2025
Whether accounts are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Standalone	Standalone
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
	Total Segment Revenue
	Less: Inter segment revenue
	Revenue from operations
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
	Total Profit before tax
	i. Finance cost
	ii. Other Unallocable Expenditure net off Unallocable income
	Profit before tax
3	(Segment Asset - Segment Liabilities)
	Segment Asset
	Total Segment Asset
	Un-allocable Assets	null	null
	Net Segment Asset	null	null
4	Segment Liabilities
	Segment Liabilities
	Total Segment Liabilities
	Un-allocable Liabilities	null	null
	Net Segment Liabilities	null	null
	Disclosure of notes on segments

Other Comprehensive Income
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Items that will not be reclassified subsequently to profit or loss	-178700000	-222400000
	Total Amount of items that will not be reclassified to profit and loss	-178700000	-222400000
2	Income tax relating to items that will not be reclassified to profit or loss	-62400000	-77700000
3	Amount of items that will be reclassified to profit and loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss	0	0
5	Total Other comprehensive income	-116300000	-144700000

Cash flow statement, indirect
Particulars				Year ended (dd-mm-yyyy)
A	Date of start of reporting period			2024-04-01
B	Date of end of reporting period			2025-03-31
C	Whether results are audited or unaudited			Audited
D	Nature of report standalone or consolidated			Standalone
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			48371200000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			845000000
	Adjustments for decrease (increase) in inventories			-3027200000
	Adjustments for decrease (increase) in trade receivables, current			-17945500000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			553200000
	Adjustments for decrease (increase) in other non-current assets			0
	Adjustments for other financial assets, non-current			0
	Adjustments for other financial assets, current			0
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			-2210600000
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			-333900000
	Adjustments for increase (decrease) in other non-current liabilities			0
	Adjustments for depreciation and amortisation expense			6476900000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			772200000
	Adjustments for provisions, current			-63900000
	Adjustments for provisions, non-current			0
	Adjustments for other financial liabilities, current			0
	Adjustments for other financial liabilities, non-current			0
	Adjustments for unrealised foreign exchange losses gains			-218400000
	Adjustments for dividend income			0
	Adjustments for interest income			766200000
	Adjustments for share-based payments			173100000
	Adjustments for fair value losses (gains)			-16100000
	Adjustments for undistributed profits of associates			0
	Other adjustments for which cash effects are investing or financing cash flow			-416200000
	Other adjustments to reconcile profit (loss)			0
	Other adjustments for non-cash items			334800000
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			-15842800000
	Net cash flows from (used in) operations			32528400000
	Dividends received			0
	Interest paid			0
	Interest received			0
	Income taxes paid (refund)			8081900000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			24446500000
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses			1100000000
	Cash flows used in obtaining control of subsidiaries or other businesses			4129500000
	Other cash receipts from sales of equity or debt instruments of other entities			149752800000
	Other cash payments to acquire equity or debt instruments of other entities			149701000000
	Other cash receipts from sales of interests in joint ventures			0
	Other cash payments to acquire interests in joint ventures			0
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships			0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships			0
	Proceeds from sales of property, plant and equipment			98600000
	Purchase of property, plant and equipment			12943800000
	Proceeds from sales of investment property			0
	Purchase of investment property			0
	Proceeds from sales of intangible assets			0
	Purchase of intangible assets			0
	Proceeds from sales of intangible assets under development			0
	Purchase of intangible assets under development			0
	Proceeds from sales of goodwill			0
	Purchase of goodwill			0
	Proceeds from biological assets other than bearer plants			0
	Purchase of biological assets other than bearer plants			0
	Proceeds from government grants			0
	Proceeds from sales of other long-term assets			0
	Purchase of other long-term assets			0
	Cash advances and loans made to other parties			1802500000
	Cash receipts from repayment of advances and loans made to other parties			252500000
	Cash payments for future contracts, forward contracts, option contracts and swap contracts			0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts			0
	Dividends received			0
	Interest received			728100000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-1018400000
	Net cash flows from (used in) investing activities	-17663200000
	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries			0
	Payments from changes in ownership interests in subsidiaries			0
	Proceeds from issuing shares			398600000
	Proceeds from issuing other equity instruments			0
	Payments to acquire or redeem entity's shares			0
	Payments of other equity instruments			0
	Proceeds from exercise of stock options			0
	Proceeds from issuing debentures notes bonds etc			0
	Proceeds from borrowings			0
	Repayments of borrowings			181300000
	Payments of lease liabilities			678000000
	Dividends paid			3653100000
	Interest paid			488500000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) financing activities			-4602300000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			2181000000
	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents			0
	Net increase (decrease) in cash and cash equivalents			2181000000
	Cash and cash equivalents cash flow statement at beginning of period			1237000000
	Cash and cash equivalents cash flow statement at end of period			3418000000