Lupin Ltd
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.
- Market Cap ₹ 88,613 Cr.
- Current Price ₹ 1,940
- High / Low ₹ 2,403 / 1,774
- Stock P/E 24.0
- Book Value ₹ 377
- Dividend Yield 0.63 %
- ROCE 21.3 %
- ROE 20.6 %
- Face Value ₹ 2.00
Pros
- Company has delivered good profit growth of 54.9% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 26.0%
Cons
- Stock is trading at 5.21 times its book value
- The company has delivered a poor sales growth of 8.11% over past five years.
- Company has a low return on equity of 13.4% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Healthcare Healthcare Pharmaceuticals & Biotechnology Pharmaceuticals
Part of BSE 500 BSE Healthcare BSE 100 BSE 200 Nifty 500
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
11,286 | 12,770 | 14,256 | 17,367 | 15,797 | 14,665 | 15,375 | 15,163 | 16,405 | 16,642 | 20,011 | 22,708 | 23,376 | |
8,271 | 9,146 | 10,564 | 12,865 | 12,649 | 12,104 | 13,020 | 12,596 | 16,187 | 14,921 | 16,211 | 17,430 | 17,631 | |
Operating Profit | 3,015 | 3,624 | 3,691 | 4,502 | 3,148 | 2,561 | 2,355 | 2,567 | 219 | 1,721 | 3,800 | 5,278 | 5,745 |
OPM % | 27% | 28% | 26% | 26% | 20% | 17% | 15% | 17% | 1% | 10% | 19% | 23% | 25% |
105 | 235 | 184 | 106 | -1,310 | 91 | -134 | 138 | 210 | 151 | 131 | 202 | 232 | |
Interest | 27 | 10 | 59 | 153 | 204 | 302 | 363 | 141 | 143 | 274 | 312 | 295 | 319 |
Depreciation | 261 | 435 | 487 | 912 | 1,086 | 846 | 970 | 887 | 1,659 | 881 | 1,197 | 1,169 | 1,221 |
Profit before tax | 2,832 | 3,415 | 3,329 | 3,543 | 547 | 1,503 | 887 | 1,676 | -1,372 | 716 | 2,422 | 4,015 | 4,438 |
Tax % | 34% | 28% | 32% | 28% | 53% | 59% | 130% | 27% | 10% | 38% | 20% | 18% | |
1,870 | 2,444 | 2,270 | 2,565 | 258 | 615 | -270 | 1,228 | -1,528 | 448 | 1,936 | 3,306 | 3,722 | |
EPS in Rs | 40.96 | 53.47 | 50.17 | 56.63 | 5.56 | 13.40 | -5.95 | 26.81 | -33.62 | 9.45 | 42.01 | 71.88 | 81.04 |
Dividend Payout % | 15% | 14% | 15% | 13% | 90% | 37% | -101% | 24% | -12% | 42% | 19% | 17% |
Compounded Sales Growth | |
---|---|
10 Years: | 6% |
5 Years: | 8% |
3 Years: | 11% |
TTM: | 12% |
Compounded Profit Growth | |
---|---|
10 Years: | 3% |
5 Years: | 55% |
3 Years: | 60% |
TTM: | 63% |
Stock Price CAGR | |
---|---|
10 Years: | -1% |
5 Years: | 14% |
3 Years: | 42% |
1 Year: | -6% |
Return on Equity | |
---|---|
10 Years: | 8% |
5 Years: | 8% |
3 Years: | 13% |
Last Year: | 21% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 90 | 90 | 90 | 90 | 90 | 90 | 91 | 91 | 91 | 91 | 91 | 91 |
Reserves | 6,842 | 8,784 | 11,073 | 13,407 | 13,487 | 13,652 | 12,446 | 13,712 | 12,062 | 12,374 | 14,199 | 17,112 |
654 | 537 | 7,178 | 7,966 | 7,143 | 8,496 | 6,305 | 5,129 | 4,158 | 4,542 | 2,922 | 5,448 | |
2,550 | 3,642 | 3,957 | 4,749 | 5,300 | 5,423 | 5,968 | 4,498 | 5,340 | 5,794 | 6,539 | 6,327 | |
Total Liabilities | 10,135 | 13,054 | 22,298 | 26,212 | 26,020 | 27,661 | 24,810 | 23,430 | 21,651 | 22,800 | 23,751 | 28,978 |
3,356 | 4,368 | 8,717 | 11,033 | 10,362 | 11,087 | 7,938 | 7,881 | 7,382 | 8,355 | 8,878 | 9,719 | |
CWIP | 304 | 576 | 2,702 | 2,133 | 2,598 | 1,640 | 940 | 1,066 | 1,146 | 1,238 | 773 | 517 |
Investments | 178 | 1,658 | 16 | 2,136 | 262 | 2,295 | 2,374 | 2,455 | 900 | 517 | 1,075 | 1,146 |
6,297 | 6,451 | 10,862 | 10,910 | 12,798 | 12,639 | 13,557 | 12,028 | 12,224 | 12,690 | 13,026 | 17,596 | |
Total Assets | 10,135 | 13,054 | 22,298 | 26,212 | 26,020 | 27,661 | 24,810 | 23,430 | 21,651 | 22,800 | 23,751 | 28,978 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
2,004 | 2,733 | -382 | 4,114 | 1,751 | 1,666 | 1,469 | 1,822 | 367 | 1,897 | 3,648 | 3,000 | |
-851 | -1,034 | -6,769 | -2,527 | 470 | -3,282 | 1,107 | -1,240 | 1,292 | -1,287 | -1,712 | -4,172 | |
-857 | -197 | 5,836 | 433 | -1,492 | 744 | -891 | -1,885 | -1,572 | -337 | -2,184 | 1,732 | |
Net Cash Flow | 296 | 1,502 | -1,315 | 2,019 | 729 | -872 | 1,685 | -1,303 | 87 | 273 | -248 | 560 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 80 | 76 | 116 | 91 | 120 | 128 | 129 | 108 | 95 | 98 | 86 | 88 |
Inventory Days | 204 | 220 | 276 | 266 | 253 | 283 | 232 | 279 | 261 | 242 | 272 | 292 |
Days Payable | 152 | 172 | 168 | 189 | 178 | 184 | 162 | 137 | 129 | 136 | 163 | 158 |
Cash Conversion Cycle | 131 | 124 | 225 | 167 | 195 | 227 | 199 | 249 | 227 | 204 | 195 | 223 |
Working Capital Days | 81 | 56 | 102 | 63 | 126 | 115 | 33 | 34 | 45 | 32 | 53 | 58 |
ROCE % | 41% | 40% | 24% | 19% | 10% | 10% | 9% | 9% | -7% | 6% | 16% | 21% |
Documents
Announcements
-
Board Meeting Intimation for Considering And Taking On Record The Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2025.
19h - Lupin board meeting on 06 Nov 2025 to approve Q2/H1 results for September 30, 2025; trading window reopens Nov 09.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
13 Oct - Lupin to present Phase 1 LNP3693 STING agonist data at ESMO Oct 19, 2025 (Presentation 1553P, CTRI/2023/10/059147).
-
U.S. FDA Has Conducted A Pre-Approval Inspection At The Company''s Manufacturing Facility Located In Somerset, New Jersey, U.S.A.
11 Oct - US FDA pre-approval inspection at Somerset, NJ (Sept 29–Oct 10, 2025); one observation.
-
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
10 Oct - Regarding grant of 14649 stock options under ESOP.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
9 Oct - Announces partnership program to expand PrecisionSphere™ LAI platform after U.S. FDA approval (Oct 9, 2025).
Annual reports
-
Financial Year 2025
from bse
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2012
from nse
Concalls
-
Aug 2025Transcript PPT
-
May 2025Transcript PPT
-
Feb 2025Transcript PPT
-
Nov 2024Transcript PPT
-
Aug 2024TranscriptPPT
-
Aug 2024Transcript PPT
-
May 2024Transcript PPT
-
Feb 2024Transcript PPT
-
Nov 2023Transcript PPT
-
Aug 2023Transcript PPT
-
May 2023Transcript PPT
-
Feb 2023Transcript PPT
-
Jan 2023TranscriptNotesPPT
-
Nov 2022Transcript PPT
-
Aug 2022Transcript PPT
-
May 2022Transcript PPT
-
Feb 2022Transcript PPT
-
Jan 2022TranscriptNotesPPT
-
Nov 2021Transcript PPT
-
Aug 2021Transcript PPT
-
May 2021Transcript PPT
-
Feb 2021Transcript PPT
-
Jan 2021TranscriptNotesPPT
-
Nov 2020Transcript PPT
-
Aug 2020TranscriptPPT
-
Jun 2020Transcript PPT
-
Feb 2020Transcript PPT
-
Jan 2020TranscriptNotesPPT
-
Nov 2019TranscriptPPT
-
Nov 2019Transcript PPT
-
Aug 2019TranscriptNotesPPT
-
May 2019TranscriptNotesPPT
-
Feb 2019Transcript PPT
-
Jan 2019TranscriptNotesPPT
-
Nov 2018Transcript PPT
-
Aug 2018Transcript PPT
-
Jun 2018TranscriptNotesPPT
-
May 2018TranscriptNotesPPT
-
Feb 2018TranscriptNotesPPT
-
Jan 2018TranscriptNotesPPT
-
Nov 2017Transcript PPT
-
Sep 2017TranscriptNotesPPT
-
Aug 2017TranscriptNotesPPT
-
May 2017TranscriptNotesPPT
-
Feb 2017TranscriptNotesPPT
-
Jan 2017TranscriptNotesPPT
-
Nov 2016TranscriptNotesPPT
-
Jun 2016TranscriptPPT
Products
Co. is engaged in developing and marketing generic formulations, biotechnology products, and APIs globally. Co. has a significant presence in the Cardiovascular, Diabetology, Asthma, Pediatrics, and Central Nervous system, among other segments, and is a global leader in e Anti-TB and Cephalosporins segments. [1]