Lupin reported earnings above our estimates across all metrics. Revenue at INR 55,143 mn increased by 16.3% YoY and 12.6% QoQ, driven by strong performance in North America, Growth, and Emerging markets. EBITDA at INR 12,409 mn showed robust growth of 44.9% YoY and 24.5% QoQ, with a margin of 22.5%, expanding 445bps YoY and 214bps QoQ. The improvement in EBITDA margin was driven by strong commercial execution of new product launches, solid performance of existing products, and lower than anti...
Buy Lupin Ltd For Target Rs.2,237 By Choice Broking Ltd
Lupin's reported earnings slightly surpassed our projections, driven by robust performance in major markets and effective operational efficiency. The company posted a top-line of INR 51,974mn, indicating a substantial 20.2% YoY increase and a modest 3.2% QoQ growth, primarily fueled by strong growth in North America, EMEA, and RoW. In Q3FY24, EBITDA reached INR 10,220mn, marking an impressive 98% YoY surge and a noteworthy 10.7% QoQ uptick. The EBITDA margin at 20%, demonstrated improveme...
Outperform Lupin Ltd for Target Rs. 1,873 - Choice broking
