** Our values have held us in good stead at this time and they are the foundation onwhich we have built our success. 33
It is with immense pleasure that I present to you Lupin's first Integrated Report.
FY21 was different in every aspect and held more than its fair share of challenges. Asthe world and especially India reeled under the coronavirus pandemic that disrupted ourcollective sense of the normal we saw crisis of unprecedented nature and effect. Howeverwe also saw the best of human nature in this time. At Lupin we continue to witnessmagnificent examples of resilience. I am very proud of our resolve to stand with ourcommunities to inspire hope and healing.
Through the year we stayed focused on our mission - safeguarding the health andwell-being of our employees and their families maximizing availability of our medicinesglobally and supporting our communities relief agencies and people on the front line ofthe global pandemic.
In retrospect our focus on becoming an agile responsive company was well displayedduring this period and it gives me confidence that we are well- positioned for thelong-term.
Despite COVID-19 we have strengthening our business in India as well as in the US andother markets with multiple positive developments and launches. The launch of our leadrespiratory product Albuterol in the US is an important milestone. On the Specialtyfront we continued to make steady progress in Neurology Gastrointestinal and Women'sHealth.
Innovation and research are critical to ensuring better health and creating financialvalue. In FY21 our total R&D spend was 9.6% of turnover. For the entire year wereported net profit of INR 12165 million with EBITDA margins improving to 18.8% in Q4FY21as compared to 13.8% in Q4FY20. This was the outcome of our collective efforts to improveperformance by focusing on growth drivers and cost optimization.
In India the pandemic situation continues to remain serious and therefore wecontinue to support our people and our communities. We have put in place multiple taskforces for employee hospitalization medication and vaccination. We have also expanded thescope of our employee benefits from medical and term insurance to providing for thefamilies of employees we lost to this terrible virus.
As a sustainable business everything we do is inspired by a deep sense of purpose. Ourvalues have held us in good stead at this time and they are the foundation on which wehave built our success. It is heartening to see Lupin rise to the challenge and continueto make a positive impact on the lives of people. Put together Lupin our employees andthe promoter family contributed INR 16.7 crore toward COVID-19 relief efforts.
We are determined to come out stronger from this pandemic than we have ever been. Iwould like to thank our Lupin employees for their unflinching commitment and ourpartners shareholders and customers for your continued trust confidence and support.
Manju D. Gupta