Lupin Ltd.

NSE: LUPIN · Healthcare

₹1,988.10+0.01%06 Nov 2026

Ask the data

Instant answers about Lupin Ltd. — computed from its filings, no language model

Market cap₹90,916 cr

Current price₹1,988.10

High / Low₹2,515 / ₹1,922

P/E17.5

P/B3.78

Book value₹525.9

ROE21.6%

ROCE25.4%

Debt / equity0.23

Dividend yield0.60%

EPS (TTM)₹113.85

Face value₹2

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 9 periods

	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	15,560	16,369	15,375	15,163	16,405	16,642	20,011	22,708	27,958
EBITDA	2,903	2,533	2,355	2,567	287	1,798	3,811	5,283	8,816
Operating margin	18.7%	15.5%	15.3%	16.9%	1.8%	10.8%	19.0%	23.3%	31.5%
Interest	204	308	363	141	143	274	312	295	434
Depreciation	1,086	1,085	970	887	1,659	881	1,197	1,169	1,376
Profit before tax	543	1,517	753	1,675	-1,373	716	2,422	4,015	6,873
Tax	288	902	1,157	449	137	269	487	709	1,517
Net profit	251	607	-611	1,217	-1,528	430	1,914	3,282	5,333
EPS ₹	30.83	34.34	-5.96	27.09	-33.65	9.46	42.05	71.95	116.75
Operating cash flow	—	—	—	—	1,082	1,934	3,490	430	7,546
Capex	—	—	—	—	905	1,500	929	1,682	2,055
Dividend paid	—	—	—	—	295	182	183	365	548
Total assets	18,681	19,690	20,680	23,610	21,821	22,956	23,997	29,205	38,365
Equity	15,785	17,117	17,473	13,803	12,153	12,464	14,290	17,204	22,448

Quarterly performance

last 34 quarters · ₹ crore

showing latest 8 of 34 periods

	MAR '18	JUN '18	SEP '18	DEC '18	MAR '19	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	3,978	3,856	3,951	4,505	4,326	4,418	4,360	3,769	3,846	3,528	3,835	4,017	3,783	4,270	4,091	4,161	3,883	4,146	4,322	4,430	4,814	5,039	5,197	4,961	5,600	5,673	5,768	5,667	6,268	7,048	7,168	7,475	8,277	7,827
Operating profit	653	527	550	753	792	860	731	429	525	488	581	779	708	965	-1,324	370	268	453	533	578	856	918	1,038	997	1,241	1,340	1,356	1,321	1,727	2,341	2,262	2,486	2,450	2,044
Operating margin	16.4%	13.7%	13.9%	16.7%	18.3%	19.5%	16.8%	11.4%	13.7%	13.8%	15.2%	19.4%	18.7%	22.6%	-32.4%	8.9%	6.9%	10.9%	12.3%	13.0%	17.8%	18.2%	20.0%	20.1%	22.2%	23.6%	23.5%	23.3%	27.6%	33.2%	31.6%	33.3%	29.6%	26.1%
Other income	200	184	231	43	167	72	133	94	209	43	25	21	58	28	73	34	16	15	18	37	23	40	29	29	68	42	54	57	79	90	115	141	130	127
Interest	59	69	74	80	86	86	86	89	107	44	34	31	32	33	34	33	41	55	84	93	86	81	74	71	68	71	67	89	92	108	115	120	110	106
Depreciation	273	259	265	280	281	317	321	253	214	215	213	244	216	209	919	203	327	203	220	264	235	248	257	457	248	257	271	393	299	317	313	447	453	486
Profit before tax	-942	383	441	94	596	530	-90	-108	495	272	360	525	518	750	-2,205	167	-85	210	246	258	559	630	736	498	993	1,055	1,071	896	1,416	2,007	1,522	1,928	2,017	1,580
Tax	-163	181	173	248	300	228	34	767	105	164	147	83	54	202	-110	-382	427	75	88	16	105	134	117	129	187	195	212	113	194	522	342	459	600	424
Net profit	784	203	266	22	290	303	-127	-835	-542	107	211	438	460	542	-2,098	546	-518	130	153	236	452	490	613	359	801	853	855	773	1,219	1,478	1,176	1,460	1,415	1,155
EPS ₹	7.93	4.48	5.88	-3.36	12.75	6.70	-2.81	-18.56	8.64	2.40	4.71	9.74	10.24	11.96	-46.22	12.01	-11.40	2.85	3.38	5.19	9.94	10.76	13.47	7.89	17.58	18.70	18.75	16.93	26.70	32.36	25.74	31.96	30.95	25.27
Revenue YoY	—	—	—	—	8.7%	14.6%	10.3%	-16.3%	-11.1%	-20.2%	-12.0%	6.6%	-1.6%	21.0%	6.7%	3.6%	2.6%	1.3%	3.9%	14.1%	—	21.5%	20.2%	12.0%	16.3%	12.6%	11.0%	14.2%	11.9%	24.2%	24.3%	31.9%	32.0%	11.1%
Profit YoY	—	—	—	—	-63.0%	49.5%	-147.8%	-3841.0%	-287.1%	-64.7%	—	—	—	407.4%	-1094.2%	24.5%	-212.5%	—	-71.9%	—	—	277.5%	299.5%	52.3%	77.2%	74.1%	39.5%	114.9%	52.1%	73.3%	37.5%	89.0%	16.1%	-21.8%

Earlier results (standalone, Sep '07 – Dec '17)

₹ crore · from BSE, before the NSE XBRL filings begin

Lupin Ltd. reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

showing latest 8 of 9 periods

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†
Revenue	2,951	3,709	4,510	5,385	7,123	8,939	9,752	11,280	12,725
Operating profit	559	815	973	1,162	1,853	2,839	3,329	4,032	4,344
Operating margin	18.9%	22.0%	21.6%	21.6%	26.0%	31.8%	34.1%	35.7%	34.1%
Other income	20	4	3	3	54	488	225	194	223
Interest	42	28	26	29	33	21	5	15	22
Depreciation	66	82	104	132	150	168	337	306	366
Profit before tax	471	709	846	1,005	1,724	3,139	3,212	3,906	4,179
Tax	54	60	36	200	463	815	815	1,020	1,038
Net profit	417	649	810	804	1,260	2,324	2,397	2,885	3,141

Quarters

showing latest 8 of 42 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†
Revenue	714	608	620	712	771	742	725	918	844	1,012	934	1,009	1,073	1,205	1,222	1,106	1,407	1,405	1,466	1,780	1,754	1,976	1,611	1,884	2,161	2,427	2,468	3,002	2,257	2,328	2,165	2,595	2,526	2,890	3,269	3,552	2,951	3,296	2,926	2,499	2,580	2,531
Operating profit	155	99	93	138	175	132	114	227	128	283	176	203	208	281	280	114	349	301	398	477	478	648	250	533	687	801	818	1,457	600	737	536	930	671	1,074	1,356	1,537	904	1,234	669	543	542	498
Operating margin	21.7%	16.3%	15.0%	19.3%	22.7%	17.8%	15.7%	24.7%	15.2%	28.0%	18.9%	20.1%	19.4%	23.3%	22.9%	10.3%	24.8%	21.4%	27.2%	26.8%	27.3%	32.8%	15.5%	28.3%	31.8%	33.0%	33.2%	48.5%	26.6%	31.6%	24.7%	35.8%	26.6%	37.2%	41.5%	43.3%	30.6%	37.5%	22.9%	21.7%	21.0%	19.7%
Other income	18	139	26	19	1	0	0	1	2	0	1	0	1	1	1	0	0	1	2	23	2	26	3	100	381	4	4	24	91	78	33	80	56	32	27	75	19	90	39	28	74	24
Interest	8	9	9	9	11	12	10	8	7	9	5	7	7	6	6	4	5	7	12	8	7	6	12	4	4	3	11	1	1	1	2	1	2	2	10	4	1	9	8	6	11	7
Depreciation	14	14	15	15	16	16	19	17	18	20	26	27	28	23	27	29	32	33	38	37	38	38	38	44	39	41	44	87	86	85	79	75	75	76	80	82	86	93	105	95	95	99
Profit before tax	151	215	94	132	150	104	85	202	105	255	146	170	174	253	248	81	312	262	350	455	436	630	202	585	1,026	761	768	1,392	604	729	488	934	650	1,029	1,293	1,525	836	1,223	596	470	510	416
Tax	33	44	18	24	18	16	-3	23	7	32	-2	13	12	7	4	8	44	48	101	98	114	182	69	174	217	228	196	375	144	216	80	234	157	262	368	446	182	363	47	116	121	107
Net profit	118	170	77	109	132	88	88	180	98	223	148	157	162	246	244	73	268	215	249	357	322	448	133	411	809	533	571	1,017	460	513	408	700	494	766	925	1,080	653	859	549	354	389	309
EPS ₹	14.59	20.75	9.34	13.22	16.06	10.66	10.67	21.67	11.65	25.78	17.15	17.69	3.65	5.53	5.46	1.63	6.01	4.81	5.57	8.00	7.20	10.02	2.97	9.17	18.07	11.90	12.74	22.67	10.25	11.44	9.07	15.56	10.97	17.02	20.54	23.96	14.49	19.06	12.16	7.84	8.61	6.84
Revenue YoY	—	—	—	—	8.0%	22.0%	17.0%	28.9%	9.4%	36.3%	28.9%	9.9%	27.1%	19.2%	30.8%	9.6%	31.2%	16.6%	19.9%	61.0%	24.7%	40.6%	9.9%	5.8%	23.1%	22.8%	53.2%	59.4%	4.5%	-4.1%	-12.3%	-13.6%	11.9%	24.2%	50.9%	36.9%	16.8%	14.0%	-10.5%	-29.6%	-12.6%	-23.2%
Profit YoY	—	—	—	—	11.7%	-48.2%	15.3%	65.5%	-25.4%	152.7%	67.8%	-12.3%	65.1%	10.7%	64.4%	-53.8%	65.1%	-12.9%	2.1%	391.0%	20.1%	108.9%	-46.6%	14.9%	151.3%	19.0%	329.6%	147.7%	-43.2%	-3.8%	-28.6%	-31.2%	7.4%	49.3%	126.9%	54.3%	32.3%	12.1%	-40.6%	-67.2%	-40.5%	-64.0%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 28 periods

	DEC '18	MAR '19	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
ROE	8.1%	4.6%	5.1%	2.9%	-2.2%	-6.9%	-8.0%	-6.1%	1.2%	8.8%	12.0%	-4.8%	-4.0%	-12.6%	7.8%	10.1%	13.5%	13.4%	15.8%	16.8%	18.3%	19.1%	21.5%	22.0%	23.7%	23.8%	24.6%	21.6%
ROCE	1.6%	10.6%	11.6%	8.6%	7.4%	6.8%	5.1%	7.4%	10.7%	13.2%	16.5%	-2.0%	-4.6%	-10.1%	9.5%	12.1%	15.0%	16.1%	18.6%	19.0%	20.7%	19.3%	21.3%	22.6%	24.6%	25.8%	28.0%	25.4%
Net margin	7.8%	4.7%	5.1%	2.8%	-2.2%	-7.3%	-9.0%	-7.1%	1.4%	8.0%	10.4%	-4.1%	-3.4%	-9.3%	5.5%	7.2%	9.2%	9.6%	10.9%	12.3%	13.0%	14.5%	15.8%	17.5%	17.8%	19.1%	18.4%	16.9%
EBITDA margin	15.2%	15.8%	17.2%	17.8%	16.7%	15.5%	14.0%	13.5%	15.6%	16.9%	19.1%	7.0%	4.4%	1.7%	13.7%	15.5%	17.4%	19.0%	20.2%	21.5%	22.4%	23.2%	24.6%	27.3%	29.3%	31.5%	31.8%	30.1%
Debt / equity	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.34	0.27	0.27	0.19	0.19	0.20	0.20	0.30	0.30	0.29	0.29	0.26	0.26	0.23
Interest coverage	0.92	5.92	6.12	4.35	3.68	3.25	2.74	4.72	8.64	12.91	17.58	-2.15	-4.78	-8.61	5.01	5.94	7.56	8.77	10.72	12.55	14.05	14.62	14.93	16.17	15.48	16.82	17.52	16.64
Asset turnover	0.87	0.84	0.87	0.89	0.86	0.79	0.75	0.72	0.74	0.64	0.67	0.68	0.69	0.75	0.77	0.79	0.83	0.83	0.87	0.84	0.86	0.78	0.80	0.74	0.78	0.73	0.78	0.77

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 18 periods

	MAR '14‡	MAR '15‡	MAR '16‡	MAR '17‡	MAR '18‡	MAR '19‡	MAR '20‡	MAR '21‡	MAR '22‡	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share capital	90	90	90	90	90	90	91	91	91	91	91	91	91	91	91	91	91	91
Other equity / reserves	6,775	8,938	11,823	13,407	15,695	17,027	17,383	13,712	12,062	11,773	12,374	13,148	14,199	15,551	17,112	19,541	22,357	23,959
Total equity	6,865	9,028	11,913	13,498	15,785	17,117	17,473	13,803	12,153	11,864	12,464	13,239	14,290	15,642	17,204	19,633	22,448	24,050
Borrowings	553	40	—	—	—	—	—	—	—	4,082	4,244	3,524	2,670	3,172	5,077	5,778	5,910	5,496
Current liabilities	2,630	1,660	1,955	6,121	2,336	1,997	2,556	8,436	8,276	8,488	9,265	8,921	8,502	7,990	8,961	10,821	12,651	12,541
Non-current liabilities	578	320	368	6,955	560	576	652	1,316	1,323	1,275	1,148	1,215	1,122	1,773	2,949	2,951	3,200	3,319
Total assets	10,206	11,008	14,236	26,607	18,681	19,690	20,680	23,610	21,821	21,686	22,956	23,444	23,997	25,482	29,205	33,500	38,365	39,911
Property, plant & equipment	2,604	2,021	2,328	4,636	3,027	3,067	3,446	4,383	4,550	4,517	4,645	4,814	4,899	4,816	5,148	5,256	5,449	5,391
Capital work-in-progress	284	490	624	715	850	904	695	852	847	960	895	676	596	635	355	593	695	931
Investments	178	3,444	0	2,136	233	2,107	2,330	2,455	900	264	517	191	1,075	1,575	1,146	3,331	3,670	4,456
Inventories	2,129	1,740	1,914	3,642	2,180	2,306	2,485	4,092	4,631	4,679	4,492	4,674	4,954	5,285	5,476	5,955	6,083	6,563
Receivables	2,464	2,515	4,545	4,307	4,946	3,724	3,616	4,474	4,262	4,342	4,481	4,464	4,692	5,111	5,497	6,290	6,604	6,656
Cash & equivalents	798	59	18	682	106	56	1,168	921	991	848	1,232	1,481	983	1,109	1,544	1,328	4,168	1,939

Cash flow

annual · ₹ crore · line = free cash flow

	FY22	FY23	FY24	FY25	FY26
Cash from operations	1,082	1,934	3,490	430	7,546
Cash from investing	577	-1,324	-1,554	-1,602	-4,076
Cash from financing	-1,572	-337	-2,184	1,732	-846
Capex	905	1,500	929	1,682	2,055
Free cash flow	177	434	2,562	-1,252	5,491
Dividends paid	295	182	183	365	548

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹5,391 cr14%

CWIP

₹931 cr2%

Investments

₹4,456 cr11%

Inventories

₹6,563 cr16%

Receivables

₹6,656 cr17%

Cash & equivalents

₹1,939 cr5%

Other assets

₹13,975 cr35%

Peer comparison

largest in Healthcare · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Sun Pharmaceutical Industries Ltd.	4,46,270	1,860.00	40.7	5.00	12.3%
Divi's Laboratories Ltd.	2,73,493	10,320.50	93.5	16.32	17.5%
Torrent Pharmaceuticals Ltd.	1,80,671	4,750.00	85.1	9.83	11.6%
Laurus Labs Ltd.	1,26,430	2,340.00	94.4	20.86	22.1%
Apollo Hospitals Enterprise Ltd.	1,21,453	8,446.00	54.2	11.45	21.1%
Zydus Lifesciences Ltd.	1,19,550	1,197.90	28.6	4.30	15.0%
Dr. Reddy's Laboratories Ltd.	1,14,646	1,373.00	40.9	2.95	7.2%
Cipla Ltd.	1,13,988	1,411.00	39.3	3.22	8.2%
Mankind Pharma Ltd.	1,04,902	2,540.00	46.7	5.97	12.8%
Aurobindo Pharma Ltd.	1,03,572	1,800.00	26.0	2.63	10.1%
Lupin Ltd.	90,916	1,988.10	17.5	3.78	21.6%

StoxGud checklist: Bullish setup · 7/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month-1.2%

6 months-19.2%

1 year+1.6%

3Y CAGR+18.3%

5Y CAGR+16.4%

10Y CAGR+2.7%

50-day avg₹2,042.46

200-day avg₹2,238.82

RSI (14)55

Compare Lupin Ltd. with

Mankind Pharma vs Lupin Aurobindo Pharma vs Lupin Lupin vs Max Healthcare Institute Lupin vs Glenmark Pharmaceuticals

FAQs

What is the share price of Lupin Ltd.?

Lupin Ltd. (LUPIN) closed at ₹1,988.10 on NSE on 06 Nov 2026.

What is the market cap of Lupin Ltd.?

₹90,916 crore at the latest close.

What is the P/E ratio of Lupin Ltd.?

17.5, on trailing-twelve-month earnings from its filings.

How fast is Lupin Ltd. growing?

Lupin Ltd.: revenue has compounded at 18.9% a year over three years; net profit at 131.5% a year. Latest-quarter revenue is up 11.1% year on year, profit down 21.8%.

How profitable is Lupin Ltd.?

On a trailing-twelve-month basis return on equity is 21.6%, return on capital employed 25.4%, operating margin 30.1%, net margin 16.9%.

How much debt does Lupin Ltd. have?

Lupin Ltd. is lightly geared: debt to equity is 0.23 with borrowings of ₹5,496 cr against cash of ₹1,939 cr (balance sheet of 2026-09-30). Operating profit covers interest 16.6 times.

Financials parsed from Lupin Ltd.'s own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from MAR '18, annual from FY18, balance sheet from Mar '14. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.