Mumbai: Lupin Ltd, one of India’s largest generic pharma players, has recommended a Rs.12 final dividend per Rs.2 share, according to a press release to the bourses on Monday, July 14. The dividend is expected to be approved during the company’s Annual General Meeting (AGM) scheduled for August 11. Over the past 2 months, the company’s shares have been in focus as it won two USFDA approvals for key drugs: Prucalopride tablets for chronic constipation treatment and Loteprednol Etabonate Ophthalmic Gel for treating inflammation and pain after ocular surgery while it has signed an agreement to commercialise Certolizumab for treating various arthritic conditions, in alliance with Zentiva Group.
The company is seeing a strong performance lately, with its Q4 revenue rising 12.2% YoY to Rs.5,567.1 crore. Its operating profit has also risen 22.5% to Rs.996.85 crore YoY. Along with that, the company’s branded generic sales have increased 9.6%, with a five-year CAGR of 10.4%, higher than the market’s growth rate of 9.9%. The company is actively diversifying from its anti-Tuberculosis drugs, where it enjoys a 60% market share.
The $3.5 billion company has invested almost Rs.15.26 crore in R&D in FY24, with 55 drug approvals received during the year.
The company’s shares have risen by a remarkable 202.76% over the last 3 years, even though it has trailed behind Sensex’s 53.08% growth. Despite the challenges in the pharmaceutical industry, Lupin has consistently offered dividends every year, with this announcement being its second largest since 2010.
