In today’s briefing:
- Lupin Ltd (LPC IN): Muted Q1FY23 Results as The US Sales Dipped Significantly
Lupin Ltd (LPC IN): Muted Q1FY23 Results as The US Sales Dipped Significantly
- Lupin Ltd (LPC IN) reported muted Q1FY23 performance, with revenue declining 15% y/y and 7% q/q to INR36 billion. Revenue from North America is down 24% y/y and 29% q/q.
- Price erosion in the U.S. coupled with shelf stock adjustment on the higher trade inventory are creating a dent to the quarterly numbers.
- We would like to see a sustainable revival in the company’s North America revenue performance and margin improvement, before taking any position in the stock.
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