LIC Backed Pharma Stock Sets Record Date For 200% Dividend Per Share

Lupin Ltd is a large-cap pharma stock that recorded a market cap of Rs 40,543.08 Cr during Tuesday's closing session. An international pharmaceutical corporation with its headquarter in Mumbai is Lupin Limited. The company has declared a dividend for the year ended March 31, 2023, @ 200% i.e., a 4/- per equity share of a 2/- each. In order to determine the eligibility of the shareholders for the purpose of the same, the Board of Directors of the company have finalized the record date.

"We wish to state that pursuant to the provisions of Section 91 of the Act read with Rule 12 of the Companies (Management and Administration) Rules, 2014 and Regulation 42 of the Listing Regulations, the Company has fixed Friday, July 14, 2023, as the 'Record Date' for the purpose of ascertaining the shareholders who will be entitled to payment of Dividend if declared at the AGM," said Lupin in a stock exchange filing.

As per the data of Trendlyne, Lupin Ltd. has declared 25 dividends since October 12, 2000. Considering the FY23 equity dividend amounting to Rs 4.00 per share, the stock is trading at a dividend yield of 0.45% at the current market price of Rs 892.50.
Compared to a net loss of Rs 344.27 crore in Q4 of FY22, Lupin reported a consolidated net profit of Rs 246.7 crore in the fourth quarter of FY23. However, compared to a net profit of Rs 330.43 in the December 2022 quarter, Lupin's Q4 PAT dropped by 25.3%.

In Q4FY23, revenue from operations jumped by 12% to Rs 4,330.30 crore from Rs 3,864.50 crore in the corresponding period of the previous year. However, compared to Rs 4,244.56 crore in Q3FY23, revenue jumped by 2.02%. EBITDA totalled Rs 615 crore, astounding growth of 117.8% YoY and 13% QoQ. With a gross margin of 59.6%, the company reported that its gross Profit was Rs 2,580.2 crore, up from Rs 2,537.5 crore in Q3 FY2023. As of March 31, 2023, the company's net debt was Rs 2,526.5 crore, with a net debt-equity ratio of 0.20.

On Tuesday, the shares of Lupin Ltd closed on the BSE at Rs 894.35 apiece up by 0.21% from the previous close of Rs 892.45. The stock made a 52-week-high of Rs 908.65 on (30/06/2023) and a 52-week-low of Rs 602.80 on (04/08/2022). During Q4FY23, the company reported promoter shareholding of 47.08%, FIIs stake of 13.32%, DIIs stake of 28.92%, Govt stake of 0.28% and public stake of 10.39%. As per the shareholding pattern of Lupin for January to March 2023 quarter, insurance giant LIC held fully paid-up equity shares of 3,74,48,551 or 8.23% stake in the company.