Lupin Ltd ADR (LUPNY) Q3 2023 Earnings Call Transcript

Lupin Ltd ADR (OTC:LUPNY) Q3 2023 Results Conference Call February 10, 2023 5:30 AM ET

Company Participants

Vinita Gupta – Chief Executive Officer

Ramesh Swaminathan – Chief Financial Officer and Head, Corporate affairs

Nilesh Gupta – Managing Director

Conference Call Participants

Prakash Agarwal – Axis

Saion Mukherjee – Nomura

Surya Patra – PhillipCapital (India) Pvt Ltd

Neha Manpuria – JPMorgan

Sameer Baisiwala – Morgan Stanley

Shyam Srinivasan – Goldman Sachs


Welcome to Lupin Limited Q3 FY 2023 Earnings Conference Call. Please note that all participant lines will be in listen-only mode, and there will be an opportunity for you to ask questions after the opening remarks.

Please note that this conference is being recorded. I now hand the conference over to the management. Thank you and over to you.

Vinita Gupta

Thank you. Good afternoon, friends. I’m very pleased to welcome you to our Q3 earnings call. I have with me are, Managing Director, Nilesh, as well as CFO, Ramesh. As you would have noted, we have continued to build on our momentum in Q3 both on revenues and in particular on margins.

I’m very pleased that in Q3, our U.S. business performed well, India business growth improved and API business rebounded as well. On the margin front, we saw the benefit of NPLs in the U.S., seasonal product upside as well, and continued savings from our optimization measures. We are focused on sustaining this positive momentum, in particular as material new product launches start and our recent investment in a Salesforce expansion in India, starts yielding results.

I will let Ramesh talk through the performance in deeper detail. I would like to share some of the business highlights. In the U.S. we continued to evolve our business with optimization of oral solids, driving growth of complex genetics, respiratory franchise in particular and executing

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