Shares of this large-cap company jumped around 2 percent in Friday’s trading session after the company launched a new ayurvedic product. On a YTD basis, the shares have delivered more than 70 percent returns to its shareholders.
With a market capitalization of Rs. 58,329 crores, the shares of Lupin Ltd started Friday’s trading session positively at Rs. 1,260.55 compared to its previous close of Rs. 1,256.80. The shares hit a high of Rs. 1,285, gaining around 2 percent and currently trading at Rs. 1,277 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing announced the launch of Softovac Liquifibre, a 100 percent Ayurvedic liquid Laxative.
The company enters the Indian liquid laxative market with this new product, which is a formulation of Isabgol fibre in liquid form and natural actives such as sonamukhi, mulethi, harad, saunf, amaltas, and gulab dal.
Looking at the company’s financial statement, the revenue increased by 5 percent from Rs. 4,814 crores in Q1 FY24 to Rs. 5,039 crores during Q2 FY24. In addition, the net profits increased by 9 percent from Rs. 453 crores to Rs. 495 crores during the same timeframe.
The company plans to launch Complex Generics in the regulated markets by 2028 through 20 product launches in the areas of inhalation, injectables, Biosimilar and Novel Complex Products. It also aims to complete 3 biosimilar filings in regulated markets and launch 10 novel complex pipeline products in India.
The company gets revenue from across the globe, primarily they get 37 percent of the revenue from India, 32 percent from the USA, and the remaining 31 percent from other markets and APIs.
Headquartered in Mumbai, Lupin Ltd was incorporated in 1983. The company develops and commercializes a wide range of branded and generic formulations, APIs, and biotechnology products in over 100 markets in India, U.S., South Africa, and across the Asia Pacific (APAC), Latin America (LATAM), Middle East regions, and Europe.
Written By Vaibhav Patil
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