Quote On Lupin 3QFY21 By Yash Gupta, Angel Broking
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Below are Quote On Lupin 3QFY21 By Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd
Lupin ltd reported numbers in line with the expectation, stock down by more than 3%. Lupin Ltd total revenue from operations for Q3FY21 stood at ₹3917 crores up by 5% YoY from ₹3716 crores in Q3FY20. Gross profit margins have improved from 63.4% to 64.9% in Q3FY21. EBITDA for Q3FY21 stood at ₹799 crores up by 52% as compared to ₹522.7 crores in Q3FY20. EBITDA margins are at 20.4% as compared to 14.1% in Q3FY20. Profit after tax for the quarter at ₹438.3 crores in Q3FY21 as compared to loss of ₹835 crores in Q3FY20. In Q3FY20 loss was due to exceptional items of 321.5 crores. Indian business and USA business has not performed very well for the company, we expect EBITDA to come down in coming quarters as cost benefit due to Covid will be normalized. We have a neutral outlook towards Lupin Ltd.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
