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	Consolidated
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	Multi segment
Description of single segment
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

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	Consolidated	Consolidated
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	56671300000	227079000000
	Other income	569500000	1958200000
	Total income	57240800000	229037200000
2	Expenses
(a)	Cost of materials consumed	11094600000	44574100000
(b)	Purchases of stock-in-trade	5756900000	26426200000
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	10500000	-2577800000
(d)	Employee benefit expense	10012500000	39642000000
(e)	Finance costs	891000000	2948700000
(f)	Depreciation, depletion and amortisation expense	3931800000	11692600000
(f)	Other Expenses
1	Other Expenses	16875600000	66239300000
2	Net (gain) / loss on foreign currency transactions	-290500000	-57900000
	Total other expenses	16585100000	66181400000
	Total expenses	48282400000	188887200000
3	Total profit before exceptional items and tax	8958400000	40150000000
4	Exceptional items	0	0
5	Total profit before tax	8958400000	40150000000
6	Tax expense
7	Current tax	2811100000	9906900000
8	Deferred tax	-1676500000	-2819500000
9	Total tax expenses	1134600000	7087400000
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	7823800000	33062600000
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	7823800000	33062600000
17	Other comprehensive income net of taxes	230300000	-914700000
18	Total Comprehensive Income for the period	8054100000	32147900000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent	7725200000	32816200000
	Total profit or loss, attributable to non-controlling interests	98600000	98600000
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	7948600000	31901900000
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	105500000	246000000
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		171121800000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	16.93	71.95
	Diluted earnings (loss) per share from continuing operations	16.87	71.69
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	16.93	71.95
	Diluted earnings (loss) per share from continuing and discontinued operations	16.87	71.69
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		1. The above Consolidated 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. The Consolidated Financial Results include the financial results of the subsidiaries Lupin Pharmaceuticals Inc. U.S.A. Lupin Australia Pty Limited Australia Nanomi B.V. Netherlands Pharma Dynamics Proprietary Limited South Africa Hormosan Pharma GmbH Germany Multicare Pharmaceuticals Philippines Inc. Philippines Lupin Atlantis Holdings SA Switzerland Lupin Healthcare UK Limited U.K. Lupin Pharma Canada Limited Canada Generic Health Pty Limited Australia Bellwether Pharma Pty Limited Australia upto June 11 2023 Lupin Mexico S.A. de C.V. Mexico Lupin Philippines Inc. Philippines Lupin Diagnostics Limited India Generic Health SDN. BHD. Malaysia Lupin Inc. U.S.A. Laboratorios Grin S.A. de C.V. Mexico Medquimica Industria Farmaceutica LTDA Brazil Novel Laboratories Inc. U.S.A. Lupin Research Inc. U.S.A. Lupin Management Inc. U.S.A Lupin Europe GmbH Germany Lupin Biologics Limited India Lupin Oncology Inc. U.S.A Lupin Digital Health Limited India Avenue Coral Springs LLC U.S.A. Southern Cross Pharma Pty Ltd Australia Lupin Life Sciences Limited India w.e.f. July 17 2023 formerly known as Lupin Atharv Ability Limited India Lupin Manufacturing Solutions Limited India w.e.f. July 24 2023 Medisol S.A.S. France w.e.f. September 01 2023 Lymed S.A.S. France w.e.f. September 01 2023 till July 08 2024 Lupin Lanka Private Ltd. Sri Lanka w.e.f. August 05 2024 Lupin NZ Ltd. New Zealand w.e.f. August 08 2024 Lupinlife Consumer Healthcare Limited India w.e.f. March 8 2025 and a Trust Lupin Foundation India upto February 07 2025 and a joint venture YL Biologics Limited Japan. n n3. The Consolidated Financial Statements are prepared in accordance with Ind AS 110 Consolidated Financial Statements and Ind AS 28 Investments in Associates and Joint Ventures. n n4. The 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. 5478.8 million. The recommended dividend is subject to the approval of the shareholders at the ensuing Annual General Meeting n n5. During the quarter ended March 31 2025 330503 year to date 886137 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. 1082.3 million. n n6. During the quarter ended December 31 2024 and year ended March 31 2025 the Group has made a provision of Rs. 856.1 million USD 10 million and Rs. 1441.2 million USD 17 million respectively towards ongoing disputes. n n7. During the year ended March 31 2025 Lupin Limited and its subsidiary agreed to settle the dispute for an amount of USD 9.0 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 n8. During the year ended March 31 2024 Sales Income from operations includes milestone income of Rs. 2052.5 million USD 25.0 million from AbbVie for successful achievement of key milestone for its Phase 1 clinical stage MALT1 inhibitor program. n n9. During the quarter and year ended March 31 2025 the Group has recognised an impairment charge of Rs. 1135.3 milion and Rs. 1209.0 milion respectively related certain tangible intangible assets and goodwill. During the quarter and year ended March 31 2024 the Group had recognised an impairment charge of Rs. 2012.5 milion related to intangibles assets including discontinued ANDAs and certain tangible assets. n n12. The figures for the quarter ended March 31 2025 and March 31 2024 are the balancing figures between audited figures in respect of the full financial year and the unaudited published year to date figures up to the third quarter ended December 31 2024 and December 31 2023 respectively.

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		Consolidated
	Assets
1	Non-current assets
	Property, plant and equipment	51481800000
	Capital work-in-progress	3554500000
	Investment property	0
	Goodwill	22326100000
	Other intangible assets	23385600000
	Intangible assets under development	1611900000
	Biological assets other than bearer plants	0
	Investments accounted for using equity method	276900000
	Non-current financial assets
	Non-current investments	595800000
	Trade receivables, non-current	0
	Loans, non-current	32700000
	Other non-current financial assets	12934700000
	Total non-current financial assets	13563200000
	Deferred tax assets (net)	5591000000
	Other non-current assets	2272000000
	Total non-current assets	124063000000
2	Current assets
	Inventories	54763500000
	Current financial asset
	Current investments	10591100000
	Trade receivables, current	54971000000
	Cash and cash equivalents	15436900000
	Bank balance other than cash and cash equivalents	15986400000
	Loans, current	50200000
	Other current financial assets	3321100000
	Total current financial assets	100356700000
	Current tax assets (net)	346300000
	Other current assets	12519300000
	Total current assets	167985800000
3	Non-current assets classified as held for sale	0
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	292048800000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	913200000
	Other equity	171121800000
	Total equity attributable to owners of parent	172035000000
	Non controlling interest	908500000
	Total equity	172943500000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	17662300000
	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	3159100000
	Total non-current financial liabilities	20821400000
	Provisions, non-current	4360800000
	Deferred tax liabilities (net)	2264100000
	Deferred government grants, Non-current	0
	Other non-current liabilities	2045100000
	Total non-current liabilities	29491400000
	Current liabilities
	Current financial liabilities
	Borrowings, current	33104200000
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	858700000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	28722900000
	Total Trade payable	29581600000
	Other current financial liabilities	8393400000
	Total current financial liabilities	71079200000
	Other current liabilities	11401200000
	Provisions, current	2731800000
	Current tax liabilities (Net)	4401700000
	Deferred government grants, Current	0
	Total current liabilities	89613900000
3	Liabilities directly associated with assets in disposal group classified as held for sale	0
4	Regulatory deferral account credit balances and related deferred tax liability	0
	Total liabilities	119105300000
	Total equity and liabilites	292048800000
	Disclosure of notes on assets and liabilities	Textual Information(1)

Text Block
Textual Information(1)	1) Property, Plant and Equipment includes Right-of-use Assets of Rs. 4,483.2 mn. n2) Other Non-current Assets includes Non-current tax assets of Rs. 461.9 mn. n3) Other Non-current financial liabilities includes Lease liabilities of Rs. 2,642.7 mn. n4) Other Current Financial Liabilities includes lease liabilities of Rs. 1,068.5 mn.

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		Consolidated	Consolidated
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
1	Pharmaceuticals	56361100000	226043100000
2	Others	315600000	1054500000
3	Less: Inter segment Assets	0	0
4	Less: Inter segment Liabilities	0	0
	Total Segment Revenue	56676700000	227097600000
	Less: Inter segment revenue	5400000	5400000
	Revenue from operations	56671300000	227079000000
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
1	Pharmaceuticals	9322000000	41608100000
2	Others	-363600000	-1458100000
3	Less: Inter segment Assets	0	0
4	Less: Inter segment Liabilities	0	0
	Total Profit before tax	8958400000	40150000000
	i. Finance cost
	ii. Other Unallocable Expenditure net off Unallocable income
	Profit before tax	8958400000	40150000000
3	(Segment Asset - Segment Liabilities)
	Segment Asset
1	Pharmaceuticals	292826100000	292826100000
2	Others	2749200000	2749200000
3	Less: Inter segment Assets	-3526500000	-3526500000
4	Less: Inter segment Liabilities	0	0
	Total Segment Asset	292048800000	292048800000
	Un-allocable Assets	0	0
	Net Segment Asset	292048800000	292048800000
4	Segment Liabilities
	Segment Liabilities
1	Pharmaceuticals	118208600000	118208600000
2	Others	2966900000	2966900000
3	Less: Inter segment Assets	0	0
4	Less: Inter segment Liabilities	-2070200000	-2070200000
	Total Segment Liabilities	119105300000	119105300000
	Un-allocable Liabilities	0	0
	Net Segment Liabilities	119105300000	119105300000
	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	Consolidated	Consolidated
	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	-178100000	-233700000
	Total Amount of items that will not be reclassified to profit and loss	-178100000	-233700000
2	Income tax relating to items that will not be reclassified to profit or loss	-64300000	-79600000
3	Amount of items that will be reclassified to profit and loss
1	Items that will be reclassified subsequently to profit or loss	344100000	-760600000
	Total Amount of items that will be reclassified to profit and loss	344100000	-760600000
4	Income tax relating to items that will be reclassified to profit or loss	0	0
5	Total Other comprehensive income	230300000	-914700000

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			Consolidated
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			40150000000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			2948700000
	Adjustments for decrease (increase) in inventories			-5412400000
	Adjustments for decrease (increase) in trade receivables, current			-7809300000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			-1898100000
	Adjustments for decrease (increase) in other non-current assets			-5200000
	Adjustments for other financial assets, non-current			-293500000
	Adjustments for other financial assets, current			3028300000
	Adjustments for other bank balances			-25700000000
	Adjustments for increase (decrease) in trade payables, current			11200000
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			1300000
	Adjustments for increase (decrease) in other non-current liabilities			158100000
	Adjustments for depreciation and amortisation expense			11692600000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			-2508200000
	Adjustments for provisions, non-current			170200000
	Adjustments for other financial liabilities, current			863500000
	Adjustments for other financial liabilities, non-current			-411300000
	Adjustments for unrealised foreign exchange losses gains			-382400000
	Adjustments for dividend income			0
	Adjustments for interest income			1359800000
	Adjustments for share-based payments			422500000
	Adjustments for fair value losses (gains)			-12500000
	Adjustments for undistributed profits of associates			0
	Other adjustments for which cash effects are investing or financing cash flow			-416900000
	Other adjustments to reconcile profit (loss)			0
	Other adjustments for non-cash items			123000000
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			-26790200000
	Net cash flows from (used in) operations			13359800000
	Dividends received			0
	Interest paid			0
	Interest received			0
	Income taxes paid (refund)			9060400000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			4299400000
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses			0
	Cash flows used in obtaining control of subsidiaries or other businesses			462600000
	Other cash receipts from sales of equity or debt instruments of other entities			0
	Other cash payments to acquire equity or debt instruments of other entities			0
	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			293500000
	Purchase of property, plant and equipment			16824250000
	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			0
	Cash receipts from repayment of advances and loans made to other parties			0
	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			1298500000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-324070000
	Net cash flows from (used in) investing activities	-16018920000
	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			24277400000
	Repayments of borrowings			0
	Payments of lease liabilities			1408900000
	Dividends paid			3653100000
	Interest paid			2295200000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) financing activities			17318800000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			5599280000
	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			5599280000
	Cash and cash equivalents cash flow statement at beginning of period			9837600000
	Cash and cash equivalents cash flow statement at end of period			15436880000