Lupin Ltd.

NSE: LUPIN · Pharmaceuticals

52W Range₹1,837 ₹2,530

Snapshot

Unlock Lupin Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Lupin Limited is a global pharmaceutical company that develops, manufactures, and markets a diverse portfolio of branded and generic formulations, biotechnology products, and active pharmaceutical ingredients. The company operates across multiple therapeutic areas, including cardiovascular, respiratory, and anti-infective segments, with a significant international presence.

Business Model

The company generates revenue through the sale of pharmaceutical products across global markets, supported by an extensive network of laboratories and collection centres. Its business model integrates drug discovery, clinical research, and the commercialisation of specialty and biosimilar products.

  • Laboratories:18
  • Collection Centres:280
  • Pick-up Points:450

Growth Outlook

Growth is driven by the expansion of its specialty products portfolio and ongoing drug discovery programmes in oncology, immunology, and metabolic disorders. The company continues to leverage its global footprint to capture market share in both developed and emerging pharmaceutical markets.

Key Risks

  • Regulatory Compliance. The company faces stringent oversight from global health authorities, where any failure to meet manufacturing standards could lead to import bans or product recalls.
  • Pricing Pressure. Intense competition in the generic drug market and government-mandated price controls in key regions may compress profit margins.
  • R&D Uncertainty. The long-term success of the company depends on the high-risk, high-cost drug discovery and development pipeline, which may not always yield commercially viable products.
  • Currency Volatility. As a global entity with operations in multiple countries, the company is exposed to fluctuations in foreign exchange rates that can impact reported earnings.

Price

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Key Metrics

REVENUE

₹27,958 Cr

TTM · consolidated

+23.1%YoY

NET PROFIT

₹5,355 Cr

TTM · consolidated

+62.0%YoY

EPS

₹116.76

TTM · consolidated

+62.3%YoY

RETURN ON EQUITY

28.9%

TTM · consolidated

+6.9 ppYoY

RETURN ON CAPITAL EMPLOYED

33.8%

TTM · consolidated

+8.0 ppYoY

P/E

21.4x

Q4 FY26 · consolidated

21.4 vs 16.6x5Y avg

EV/EBITDA

12.6x

Q4 FY26 · consolidated

12.6 vs 35.8x5Y avg

EBITDA MARGIN

33.1%

TTM · consolidated

+9.0 ppYoY

NET PROFIT MARGIN

19.6%

Q4 FY26 · consolidated

+5.8 ppYoY

DEBT TO EQUITY

0.3x

Q4 FY26 · consolidated

-0.04xYoY

Peers · Pharmaceuticals

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Lupin Ltd.LUPIN
1,06,68721.4212.5623.1%33.1%28.9%33.8%+29.6%
Dr. Reddy's Laboratories Ltd.DRREDDY
1,04,59824.2913.663.2%23.2%12.0%15.3%-2.8%
Cipla Ltd.CIPLA
99,31629.7616.962.2%24.0%12.1%16.1%-3.1%
Zydus Lifesciences Ltd.ZYDUSLIFE
89,21223.0314.0316.8%33.1%20.7%23.3%+19.1%
Mankind Pharma Ltd.MANKIND
81,11254.9327.9316.3%27.8%13.1%13.5%-3.0%
Aurobindo Pharma Ltd.AUROPHARMA
74,36525.6612.216.1%21.8%10.3%15.1%+34.3%

As of Q4 FY26

Financials