Dear Shareholders,
There are moments in a company?s journey that call not only for
reflection, but also for renewed clarity of purpose. FY25 was one such moment for Lupin.
It was not merely a year of robust performance; it was a year of reaffirmation.
For over five decades, Lupin has resolutely transformed lives, with a
deep sense of purpose. Our founder, Dr. Desh Bandhu Gupta, firmly believed that no one
should go without the quality care they deserve. This belief was at the core of the
principles on which he established Lupin. It guided our vision, shaped our values, and
created a legacy that continues to inspire us every day. On his birth anniversary this
year, we distilled these core principles into a single, resonant purpose:
"We catalyze treatments that transform hope into healing."
This statement is a reaffirmation of who we are, and what we stand for — our north
star, guiding us every step of the way.
Driven by our commitment to business excellence and innovation, our
goal is to be a trusted partner for quality medicines, transforming hope into healing.
A Purpose that Anchors Performance
Our purpose anchors our strategy and spirit. We innovate not just to
lead, but to serve. We expand not for scale alone, but for reach and relevance. We operate
not with entitlement, but with empathy. FY25 stood as a reflection of this ethos,
translating into value for all. We recorded consolidated sales of INR 221,921 Mn, growing
12.9%, and expanded our EBITDA margin to 24.7%.
Sustained Growth and Global Momentum
Our growth this year, from our performance in key markets to
advancements in complex generics, has been exceptional. We scaled our operations,
strengthened compliance, deepened our presence in chronic care, and launched
transformative digital initiatives. What I am most proud of is not just our financial
outperformance, but the way we did it — with heart, integrity, and courage.
Our U.S. business grew double-digits with key contributions from new
launches and complex inhalation products. Our India Region Formulations business continued
to outperform the market, driven by strong performance across chronic therapies. Others
like Canada, U.K., Germany, and Mexico were standout contributors, showcasing the strength
and diversity of our global footprint. In August 2024, our market capitalization crossed
the INR 100,000 crore mark — a reflection of investor confidence.
Scaling Innovation
We continued to scale the value chain with important new products,
launching 49 products, filing 41 more, and ramping up our pipeline of complex injectables,
peptides, and biosimilars. This delivery exemplifies how strategy and science converge at
Lupin. We continued to advance our leadership in respiratory care through the year, and
our inorganic growth, with the acquisition of Huminsulin? from Eli Lilly and other
strategic initiatives, reinforced our intent to help patients lead healthier lives.
Our new ventures in diagnostics, digital, neuro-rehabilitation, OTC,
and trade generics are purpose-driven extensions of our commitment to holistic healthcare.
Enduring Purpose in a Changing World
In a world of economic, geopolitical, and environmental uncertainties,
purpose helps build constancy. For Lupin, that purpose is clear. It is what allows us to
serve with confidence, adapt with resilience, and grow responsibly.
What started as DBG?s dream is now a shared movement of over
24,000 Lupinytts who believe that science must heal, reach, and uplift.
To our shareholders, thank you for your enduring trust. To every
Lupinytt, thank you for bringing our purpose to life. As we move forward, we do so with
humility, with resolve, and with unwavering commitment to catalyze treatments that
transform hope into healing.
Warm Regards,
Manju Deshbandhu Gupta
Chairperson