Of its income from operations of Rs 695.09 crore, exports amounted to Rs 230.94 crore representing 33.22 per cent of its sales. During the year, the company's exports grew by 15 per cent and exports to the developed markets of Europe and America constituted 41 per cent of total exports, against 27 per cent last year.

In the domestic formulations business, Lupin registered an 18 per cent growth in Cephalosporin sales while the anti-TB segment grew by about 6.5 per cent. According to the company, its domestic operating margins increased from 10.2 per cent to 15.6 per cent during the year.

During the year, Lupin made a conscious shift towards value-added products with higher margins, which resulted in the increased net margins. Also, the company decided to stop laying emphasis on some of its low margin products and instead replaced them with high margin ones, which have contributed to its bottomline.

During the year, the company completed a two-phased voluntary retirement scheme (VRS) at a cost of Rs 5.88 crore thereby shedding about 220 employees. However, the company has decided to increase its field force from the present strength of 600 people to 1,200 people in the next four-year period by recruiting 150 people each year. This is expected to help the company in reaching out to about three lakh doctors, up from the present 1.5 lakh.

The company also plans to aggressively expand its export market by tapping the North American and European markets. As per its strategy, the company will cut down its exports to the CIS markets and concentrate on the South African and East African markets in the short term and on the European and North American markets in the medium term. Besides, Lupin has earmarked a sum of Rs 100 crore for its research and development (R&D) activities over the next five years. The company is at present in the process of locating a suitable person to spearhead its basic research activities. It also plans to set up a R&D centre in Pune for which it has acquired the land.