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Earnings

Looking to get back to double-digit growth, says Lupin MD

Updated : January 29, 2021 02:08 PM IST

Pharma major Lupin has reported a consolidated net profit of Rs 438.25 crore for the quarter ended December 31, 2020.

In an interview with CNBC-TV18, Vinita Gupta, the chief executive officer (CEO), Nilesh Gupta, the managing director (MD) and Ramesh Swaminathan, chief financial officer (CFO) & Head-Corporate Affairs at Lupin spoke at length about the company’s Q3FY21 numbers.

“It’s great to see growth coming back both in the market and in our own numbers and we are looking at getting back to double-digit growth across the board this year,” said Nilesh Gupta.

Meanwhile, Swaminathan said, “The target would be to get to 22 percent odd in terms of EBITDA margin as a base case when it comes to the introduction of newer products in the market, it could spike up to 26-27 percent, but we would expect the base to be at least 22 percent and that’s our target.”

Speaking about Somerset facility, Vinita Gupta said, “The inspection at Somerset facility was intense, lasting almost 2 months. However, we are diligently working towards resolving all of the issues with the agency (The United States Food and Drug Administration - US FDA). We have responded to the 483 (FDA Form 483) already and provided the first update, getting ready to send in the second but working hard to meet and exceed their expectations on all the new areas that they have identified as potential areas of improvement at the site.”

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