Lupin Ltd

β‚Ή 2,196 0.78%
14 Jan
πŸ”— Website | BSE: 500257 | NSE: LUPIN
1,00,308
2,196
2,228
18.8
596
0.55
21.9
17.8

ABOUT

Lupin is an innovation-led transnational pharmaceutical company headquartered in Mumbai. Lupin develops and commercializes a wide range of branded and generic formulations, biotechnology products, and APIs in over 100 markets in the U.S., India, South Africa, and across the Asia Pacific (APAC), Latin America (LATAM), Europe, and Middle East regions.

Stock Analysis

### Description Lupin Limited is a Mumbai-headquartered pharmaceutical company with a global presence in branded and generic formulations, biotechnology products, and APIs. ### Key Growth Triggers Currently no data available for Key Growth Triggers. ### Order Book Currently no data available for Order Book. ### Key Red Flags Currently no data available for Key Red Flags. ### Key Dates To Watch - Cut-off Date for members: January 09, 2026 - Remote e-voting period: January 15, 2026, to February 13, 2026 - Results submission deadline: On or before February 17, 2026.

Peer Comparison

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Sun Pharma.Inds.1700.7035.35408054.900.943124.952.5614478.318.9320.2154964.0130.1211543.963117.955.2412.970.07
2.Divi's Lab.6355.5067.89168718.560.47689.0035.102715.0016.1220.4410029.0032.372485.00689.0010.9513.530.01
3.Torrent Pharma.4003.7062.54135503.400.80591.0032.493302.0014.3027.0512248.0032.602166.53600.1716.0413.260.33
4.Cipla1434.5021.30115874.780.911353.373.737589.447.6422.7228349.5725.405441.141351.173.5214.720.01
5.Lupin2195.9018.80100308.450.551357.357.554068.28-0.9221.9118470.5438.245335.31868.743.6814.990.04
6.Dr Reddy's Labs1186.5017.1699028.890.671336.807.288828.309.8322.6934310.0024.645772.201347.102.7512.950.16
7.Mankind Pharma2244.4052.9992649.970.04520.18-22.003697.1620.7715.9813545.6724.121748.55511.516.068.890.55

Quarterly Results

Figures in Cr.

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
2,8292,8612,8363,4963,6594,1163,3964,1684,1064,2084,4865,7094,068
YOY Sales Growth %
-1.44%4.73%-0.67%27.93%29.35%43.85%19.73%19.22%12.21%2.24%32.09%36.97%-0.92%
Expenses
2,5152,6462,5742,7912,8242,8982,6962,9682,9912,7972,7402,9792,893
Material Cost %
43.74%41.68%42.11%35.65%33.52%32.41%35.88%30.33%32.37%27.47%26.21%20.69%31.2%
Employee Cost %
17.31%16.68%16.29%14.98%14.54%12.69%15.23%14.13%14.48%13.7%12.32%11.28%14.97%
Operating Profit
3142152627058351,2177001,2001,1151,4111,7462,7301,176
OPM %
11%8%9%20%23%30%21%29%27%34%39%48%29%
Other Income
151755282623313833-224954663
Exceptional items
000000000-7700593
Other income normal
15175528262331383355495470
Interest
18312916151113141820341928
Depreciation
138134146140149145290141146153208177175
Profit before tax
173671425776961,0844281,0839841,2171,5532,5881,636
Tax %
14%40%16%17%21%15%10%18%18%19%17%18%17%
Net Profit
149401194775499163848898089851,2912,1281,357
EPS in Rs
3.270.892.6210.4812.0520.138.4319.517.7121.5828.2846.629.72

Profit & Loss

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
8,9399,75211,34412,62610,08111,35611,02611,05611,77211,25914,66616,96818,471
Sales Growth %
25.51%9.1%16.32%11.31%-20.16%12.66%-2.91%0.27%6.47%-4.36%30.27%15.69%β€”
Expenses
6,0166,3757,3578,1347,9928,5049,1169,01211,56010,29511,21611,57411,408
Material Cost %
32.28%30.87%28.84%26.47%34.47%34.28%38.16%37.83%37.95%42.61%34.26%29.03%β€”
Raw material cost
2,9613,1823,4443,5273,3904,0404,2364,2644,7104,6775,0414,964β€”
Change in inventory
-76-171-173-18585-147-29-82-242121-16-38β€”
Manufacturing Cost %
9.74%10.28%10.91%12.39%15.63%12.92%13.83%13.8%13.83%14.24%11.09%9.92%β€”
Employee Cost %
9.45%10.79%10.74%11.11%14.3%13.35%15.45%15.34%16.3%17.18%14.29%13.63%β€”
Other Cost %
15.84%13.43%14.36%14.45%14.88%14.33%15.24%14.55%30.13%17.41%16.83%15.64%β€”
Operating Profit
2,9223,3773,9874,4922,0892,8531,9092,0442119643,4515,3947,062
OPM %
33%35%35%36%21%25%17%18%2%9%24%32%38%
Other Income
40517718782128-49-286129215210115176744
Exceptional items
-9-319-641-314-65454311829-33β€”
Other income normal
41518016888872653697518419286209β€”
Interest
21524293335534173985684100
Depreciation
168337306366390426519503514548725648712
Profit before tax
3,1393,2123,8444,1791,7942,3421,0521,630-1625272,7854,8376,994
Tax %
26%25%26%25%25%34%31%23%17%19%16%18%β€”
Net Profit
2,3242,3972,8313,1411,3451,5397281,259-1894252,3263,9735,761
Exceptional items AT
-7-314-431-205-42642311424-27β€”
Profit excl Excep
2,3312,4002,8173,1451,3141,7441,1531,217-2194112,3024,000β€”
Profit for PE
2,3312,4002,8173,1451,3141,7441,1531,217-2194112,3024,000β€”
Profit for EPS
2,3242,3972,8313,1411,3451,5397281,259-1894252,3263,973β€”
EPS in Rs
51.8453.3462.8369.5629.7434.0116.0627.74-4.159.3551.0587.02126.18
Dividend Payout %
12%14%12%11%17%15%37%23%-96%43%16%14%β€”

Balance Sheet

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
90909090909091919191919191
Reserves
6,8898,93811,82314,69015,69517,02717,38318,47518,05918,32120,51224,18727,133
Borrowings
1444539259317664859517491052501,014
Long term Borrowings
2419149410000000
Short term Borrowings
11521373580825299790613180706
Lease Liabilities
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Other Borrowings
555554000000β€”
Other Liabilities
1,6751,9351,9312,4752,8792,5673,2012,8083,2123,5234,2153,9044,423
Trade Payables
9841,0421,1291,4781,4281,2541,5661,1961,3521,5662,0361,9692,115
Advance from Customers
3974422111391592313β€”
Other liability items
6538857989921,4291,3031,6221,6021,8461,9482,1561,9222,308
Total Liabilities
8,79911,00814,23617,84818,68119,69020,68021,85922,31322,68424,92328,43232,661
Fixed Assets
2,1792,0362,3453,0133,3413,3733,5143,6393,6904,0224,1134,9464,943
Land
7110595109186197208211212212175175β€”
Building
7457727491,1251,1841,2661,5701,7371,8751,9491,8462,049β€”
Plant Machinery
2,0522,1731,6382,1562,3912,6833,1283,4793,8024,2004,1814,402β€”
Equipments
10712378147163178191197201214241279β€”
Furniture & fittings
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Vehicles
566778273340495460β€”
Intangible Assets
2331918322343349367359161601,155
Other fixed assets
1721131317242636505939601,567β€”
Gross Block
3,0893,3102,6493,6694,3734,8085,6666,2306,7057,4087,6058,673β€”
Accumulated Depreciation
9101,2753046561,0321,4352,1522,5913,0153,3863,4923,727β€”
CWIP
2674906244811,1711,199822951947927446278322
Investments
1,1643,4443,7416,9145,3637,3887,4569,5639,5119,97411,58111,95514,098
Other Assets
5,1895,0387,5267,4418,8067,7308,8887,7068,1657,7618,78311,25313,299
Inventories
1,3721,7401,9142,1262,1802,3062,4852,7083,1773,0192,9693,2273,400
Trade receivables
2,8602,5154,5453,9024,9463,7243,6163,1912,7222,6743,8425,6646,749
Receivables under 6m
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Receivables over 6m
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Prow for Doubtful
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Cash Equivalents
1465935173111611,30628465101139459378
Loans & Advances
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Other Assets items
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Total Assets
8,79911,00814,23617,84818,68119,69020,68021,85922,31322,68424,92328,43232,661

Cash Flows

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
1,5282,8529174,3522093,1112,2191,5701511,7942,5042,445
Profit from operations
3,1333,5224,2224,6772,2443,0001,7712,1172881,1113,5565,549
Receivables
-1,077372-2,072531-1,0891,31627640751873-1,311-1,795
Inventory
-41-367-174-212-54-126-179-224-469158-158-303
Payables
11757215356-41-182292-356154215537-33
Loans Advances
-40-10-18-18-11-661-1-400
Other WC items
5676-241-1-350-7944053-48636827-166
Working capital changes
-985128-2,290657-1,545922835-118-285810-905-2,296
Direct taxes
-620-798-1,015-982-490-811-386-429148-127-147-808
Cash from Investing Activity
-447-1,178-2,629-1,941725-2,865-740-2,508-372-1,269-1,599-1,766
Fixed assets purchased
-394-507-753-963-910-971-518-520-597-575-699-1,294
Fixed assets sold
22322213022514910
Investments purchased
0-0-3-0-5,350-9,136-14,114-13,559-12,736-12,433-10,849-14,970
Investments sold
10416,9457,13214,00011,50712,83312,01810,51414,975
Interest received
6317138832237673
Redeemp Cnce of Shares
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Acquisition of companies
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Other investing items
-6460-11210-0-13231101-30072824
Cash from Financing Activity
-844-22117-160-987-295-368-53102-498-867-460
Redemption of debentures
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Proceeds from borrowings
00356227004294492000
Repayment of borrowings
-532-99-5-5-576-11-4-0-0-177-595-18
Interest paid fin
-22-6-15-18-18-16-21-7-51-73-29-49
Dividends paid
-313-134-337-338-338-225-226-272-295-182-183-365
Financial liabilities
000000-80-78-59-68-74-68
Other financing items
-2-23-36-69-69-46-4700000
Net Cash Flow
2371,452-1,6962,252-52-501,112-991-1182738218

Ratios

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
11794146113179120120105848796122
Inventory Days
174211214232229216216236260230216239
Days Payable
124126126161150118136104110119148146
Cash Conversion Cycle
166179234184258218199237234197163215
Working Capital Days
133115169127219171154146124110116153
ROCE %
50%40%36%30%11%16%10%9%-1%3%14%22%

Shareholding Pattern

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
47.1%47.08%47.07%47.06%47.04%47.01%46.99%46.96%46.94%46.91%46.9%46.89%
Anuja Gupta
0.160.160.160.160.160.160.160.160.160.160.160.16
D B Gupta
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”0.140.14
Desh Bandhu Gupta HUF
0.140.140.140.140.140.140.140.140.140.14β€”β€”
Kavita Gupta
0.040.040.040.040.040.040.040.040.040.040.040.04
Lupin Investments Private Limited
45.5645.5445.5345.5245.545.4745.4545.4245.4145.3845.3745.36
Manju D Gupta
0.850.850.850.850.850.850.850.850.850.850.850.85
Manju D Gupta (As a Trustee of Gupta Family Trust)
000000000000
Neel Deshbandhu Gupta
0.010.010.010.010.010.010.010.010.010.010.010.01
Nilesh Gupta
0.20.20.20.20.20.20.20.20.20.20.20.2
Richa Gupta
0.050.050.050.050.050.050.050.050.050.050.050.05
Shefali Nath Gupta
000000000000
Veda Nilesh Gupta
0.020.020.020.020.020.020.020.020.020.020.020.02
Vinita Gupta
0.070.070.070.070.070.070.070.070.070.070.070.07
FIIs
13.98%13.32%13.93%14.99%16.11%18.29%19.32%21.5%22.04%21.46%21.25%20.5%
Government Pension Fund Global
1.571.571.571.381.12β€”β€”β€”β€”β€”β€”β€”
DIIs
29.39%28.92%29.08%29.14%29.72%27.76%26.77%25.1%24.73%25.41%25.55%26.56%
Axis Mutual Fund Trustee Limited A/C Axis Mutual F___
β€”β€”β€”β€”β€”β€”β€”1.31.381.541.29β€”
DSP Tax Saver Fund
1.021.02β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Hdfc Life Insurance Company Limited
1.071.591.671.681.481.371.331.381.321.311.311.28
Hdfc Trustee Company Ltd_ A/C Hdfc Balanced Advantage Fund
4.054.063.883.683.843.113.63.373.363.223.784.75
ICICI Prudential Bluechip Fund
5.585.745.55.145.25β€”β€”β€”β€”β€”β€”β€”
Icici Prudential Value Discovery Fund
β€”β€”β€”β€”β€”4.313.462.542.612.633.223.24
Life Insurance Corporation of India
8.238.238.248.236.145.875.132.892.272.05β€”β€”
Mirae Asset Emerging Bluechip Fund
β€”β€”1.281.68β€”β€”β€”β€”β€”β€”β€”β€”
Mirae Asset Large & Midcap Fund
β€”β€”β€”β€”1.761.491.531.021.21.421.521.7
NPS Trust - A/c LIC Pension Fund Sch-State Govt
1.3β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Nippon Life India Trustee Ltd-A/C Nippon India Growth Fund
1.851.931.851.771.891.871.861.811.91.882.12.95
Nps Trust- A/C Hdfc Pension Fund Management Limite___
β€”β€”β€”β€”β€”β€”β€”β€”1.311.421.481.47
SBI Life Insurance Co_ Ltd_
β€”β€”β€”β€”β€”β€”β€”1.041.051.07β€”β€”
Sbi Long Term Equity Fund
1.121.12β€”1.091.231.141.171.61.631.621.721.81
Government
0%0.28%0.28%0.28%0.01%0.01%0.01%0.01%0.01%0.01%0%0%
Public
9.51%10.39%9.62%8.52%7.1%6.93%6.92%6.44%6.27%6.21%6.28%6.06%
NPS Trust - A/c HDFC Pension Fund Management Compa___
β€”β€”β€”1.02β€”β€”β€”β€”β€”β€”β€”β€”
NPS Trust - A/c LIC Pension Fund Sch-State Govt
β€”1.241.23β€”β€”β€”β€”β€”β€”β€”β€”β€”
Others
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
No. of Shareholders
3,60,6773,48,1493,22,6782,89,0742,81,5422,80,2482,88,5372,79,2802,81,9882,83,2102,86,6042,80,256

News & Updates

Documents

Announcements

Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
18h - Postal ballot to appoint Anand Kripalu (DIN 00118324) as Independent Director Feb 01, 2026–Jan 31, 2031
Announcement under Regulation 30 (LODR)-Change in Directorate
6 Jan - Anand Kripalu appointed independent director effective Feb 1, 2026, five-year term to Jan 31, 2031.
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
5 Jan - Certificate under Reg. 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended on December 31, 2025.
Announcement under Regulation 30 (LODR)-Updates on Acquisition
30 Dec - Lupin's subsidiary Nanomi to acquire VISUfarma B.V.; closing expected by Feb 28, 2026.
Announcement under Regulation 30 (LODR)-Press Release / Media Release
29 Dec - Dec 29, 2025: Lupin gets exclusive India license to Gan & Lee's fortnightly GLP‑1 Bofanglutide.

Annual Reports

Credit Ratings

Rating update
9 Oct 2025 from icra
Rating update
30 Jun 2025 from icra
Rating update
25 Apr 2024 from icra
Rating update
23 Feb 2023 from icra
Rating update
10 Nov 2021 from icra
Rating update
24 Sep 2021 from icra

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