Lupin's revenue grew 14.0% YoY, coming in 2.2% higher than Systematix' estimates and 1.2% above consensus. The outperformance was primarily driven by other developed Markets, which exceeded estimates by 16.2%, supported by strong growth in Europe, partially offset by weakness in Emerging markets. India formulations also outperformed by 2.4%, aided by traction in chronic therapies.
NDTV Profit'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 NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Systematix Report
Following Lupin Ltd.'s September-quarter results, brokerage firm Systematix has maintained 'Hold' rating on the pharma stock with a revised target price of Rs 2,157 based on 25 times FY28E earnings per share.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
The brokerage expects Lupin to deliver revenue/EBTIDA/PAT growth of 5%/-8%/-18% respectively over FY26-28E.
While the growing complex generics, injectables and biosimilars pipeline provides medium-term growth visibility, Systematix remain cautious on the near-term US trajectory, given continued competitive intensity in Tolvaptan and Mirabegron, potential further pricing pressure and the resultant risk to margins.
Further, elevated research and development investments and operating costs could constrain near-term profitability improvement, Systematix awaits better visibility on US business recovery and sustainable margin expansion.
ALSO READ | Allcargo Terminals Q2 Results: Profit Nearly Doubles, Revenue Jumps 22%
Lupin Q2 Results Highlights
- Lupin's revenue (Rs 77,855mn) grew 14.0% YoY, coming in 2.2% higher than Systematix' estimates and 1.2% above consensus.
- The outperformance was primarily driven by other developed Markets (Rs 11,823 mn), which exceeded estimates by 16.2%, supported by strong growth in Europe, partially offset by weakness in Emerging markets.
- India formulations (Rs 23,836 mn) also outperformed by 2.4%, aided by traction in chronic therapies.
- North America revenue (Rs 30,202 mn) was inline with estimates, while Emerging Markets (Rs. 8,908mn) underperformed by 8.1%, primarily due to competitive pressures in Brazil.
- US business witnessed challenges from increased competition and loss of exclusivity in Tolvaptan
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit 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 NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
