ADVERTISEMENT

Lupin Q4 Review - Sharp Operating Miss; Recovery Remains Elusive: Prabhudas Lilladher

Lupin Q4 Review - Sharp Operating Miss; Recovery Remains Elusive: Prabhudas Lilladher

<div class="paragraphs"><p>Lupin Ltd. (Source: Company website)</p></div>
Lupin Ltd. (Source: Company website)

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Prabhudas Lilladher Report

We cut our FY23E earnings per share estimate of Lupin Ltd. by 46% and FY24E EPS by 35% to factor in lower margins.

Margins in base business continues to disappoint and recovery remains elusive.

Lupin’s FY22 profitability has been impacted, on account of low gross margins and high overheads along with subdued U.S. sales.

We believe Lupin’s recovery in U.S. sales will be gradual and may hinge on timely niche launches. Further margins will improve only from H2 FY23 with likely savings and niche launches, which may see delay.

Click on the attachment to read the full report:

Prabhudas Lilladher Lupin Q4FY22 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BQ Prime 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 BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.