Q4 2026 Lupin Ltd Earnings Call Transcript
Key Points
- Lupin Ltd (BOM:500257) achieved its fifteenth consecutive quarter of year-over-year growth, with record sales and profitability.
- The US business saw impressive growth, with sales reaching $1.3 billion, a 40% increase year over year, driven by new product launches.
- The India business grew by 11.5% year over year, with the core prescription business growing 14.5%, outperforming the Indian Pharmaceutical Market (IPM).
- Emerging markets delivered a 49% year-over-year growth, led by strong performance in Brazil, South Africa, and the Philippines.
- Lupin Ltd (BOM:500257) has a robust pipeline with plans to launch over 50 products in the US, including biosimilars and complex injectables, in the next few years.
- The company anticipates increased competition for key products like tolvaptan and mirabegron, which could impact future profitability.
- EBITDA margins are expected to decrease to around 25% in FY27, down from 29.7% in FY26, due to competitive pressures and increased R&D spending.
- There are concerns about inflationary pressures affecting freight and raw material costs, which could impact profitability.
- The company faces challenges in achieving product PK for certain respiratory products, delaying their filing timelines.
- Lupin Ltd (BOM:500257) anticipates potential revenue erosion in the US market due to increased competition and price declines in key products.
Hello, good evening and welcome to Lupin Limited Q4 FY26 earnings conference call. Thank you for your participation in the call today. (Operator Instructions) Please note that this conference is being recorded.
I now hand over the conference to the management. Thank you and over to you.
Thank you. Good afternoon, friends. I'm very pleased to welcome you to our Q4 and end-of-fiscal-year '26 earnings call. I have with me our MD, Nilesh; our CFO, Ramesh; and our Head of Investor Relations, Ravi. We look forward to sharing with you our highlights for the quarter, as well as the full year and the outlook for fiscal year '27.
This quarter marked our fifteenth consecutive quarter of year-over-year growth with highest-ever sales and profitability. While the US has clearly been a standout for us, most of our regions, be it the India prescription business, other developed markets, and other emerging markets, have delivered double-digit growth, growing 14% year over year. This
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