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Lupin USD

At a glance: strengths & risks
✓Revenue growing (+33% y/y, Q1 2026)✓Profit growing (+16% y/y, Q1 2026)✓Low leverage (0.2x EBITDA)

Sector: Pharmaceuticals

IN_LUPIN

Price chart

2 155.2 INRDay -1.52%
2 188.42 180.12 171.82 163.52 155.2Two-point segment from the displayed day change; full history unavailable.min 2 155.2 · max 2 188.4

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
2 155.2 INR · -1.52%
Market cap
10.4 bn USD

Growth

Δ revenue y/y
23.9%
Δ EBITDA y/y
39.4%

Multiples

P/E (LTM)
17.8x
P/B (FY)
4.3x
P/E (ann.)
17.0x
EV/EBITDA (LTM)
31.0x
EV/EBITDA (ann.)
26.2x

Cash return

Dividend yield
—
FCF yield (LTM)
-190.3%

Value creation

fundamental value/yr, % of market cap
Value created / year
+224.8%
↓ details

Liquidity

Daily turnover
—

Shares: connector/market_inputs

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-06-30Q2 2026 (3M)PARTIAL0.9
y/y 23.9%
0.2
y/y 45.2%
0.0
y/y 13.4%
0.3
y/y 39.4%
0.2
y/y 7.8%
———
y/y —
2.4
y/y 18.0%
25.6%≈ 17.4—
2026-03-31FY 2026 (12M)OK—
y/y 16.9%
—
y/y 48.0%
—
y/y 11.0%
—
y/y 40.2%
—
y/y 53.3%
——4.1
y/y 19.6%
2.4
y/y 18.8%
25.4%17.4—
2025-12-31Q4 2025 (3M)PARTIAL0.8
y/y 17.8%
0.2
y/y 53.8%
0.0
y/y —
0.3
y/y 79.2%
0.1
y/y 31.5%
———
y/y —
2.2
y/y 19.5%
8.1%≈ 27.4—
2025-09-30Q3 2025 (3M)OK0.8
y/y 19.9%
0.2
y/y 58.3%
0.0
y/y —
0.2
y/y 68.2%
0.2
y/y 67.3%
——3.8
y/y 24.1%
2.2
y/y 18.4%
32.2%27.4Link
2025-06-30Q2 2025 (3M)PARTIAL0.7
y/y 6.4%
0.2
y/y 24.9%
0.0
y/y —
0.2
y/y 52.7%
0.1
y/y 47.0%
———
y/y —
2.0
y/y 16.9%
28.1%≈ 35.3—
2025-03-31FY 2025 (12M)OK—
y/y 8.8%
—
y/y 49.7%
—
y/y 13.2%
—
y/y 40.1%
—
y/y 65.2%
——3.4
y/y 18.8%
2.0
y/y 17.5%
19.8%35.3—
2024-12-31Q4 2024 (3M)PARTIAL0.7
y/y 9.3%
0.1
y/y 51.9%
—
y/y —
0.1
y/y 51.9%
0.1
y/y 37.3%
———
y/y —
1.8
y/y 14.8%
7.3%≈ 17.6Link
2024-09-30Q3 2024 (3M)OK0.7
y/y 11.1%
0.1
y/y 62.2%
—
y/y —
0.1
y/y 62.2%
0.1
y/y 71.8%
——3.0
y/y 7.8%
1.9
y/y 17.1%
22.7%17.6Link
2024-06-30Q2 2024 (3M)PARTIAL0.7
y/y —
0.1
y/y —
—
y/y —
0.1
y/y —
0.1
y/y —
———
y/y —
1.7
y/y —
22.4%≈ 16.9Link
2024-03-31FY 2024 (12M)OK—
y/y 19.8%
—
y/y 211.9%
—
y/y 12.1%
—
y/y 112.5%
—
y/y 341.5%
——2.9
y/y 3.1%
1.7
y/y 13.0%
13.9%16.9—
2023-12-31Q4 2023 (3M)PARTIAL0.6
y/y —
0.1
y/y —
—
y/y —
0.1
y/y —
0.1
y/y —
———
y/y —
1.6
y/y —
6.2%≈ 19.0Link
2023-09-30Q3 2023 (3M)OK0.6
y/y —
0.1
y/y —
—
y/y —
0.1
y/y —
0.1
y/y —
——2.8
y/y —
1.6
y/y —
15.2%19.0Link
2023-03-31FY 2023 (12M)OK2.0
y/y —
0.1
y/y —
0.1
y/y —
0.2
y/y —
0.1
y/y —
0.2-15.02.8
y/y —
1.5
y/y —
—30.1—

Revenue & EBITDA

RevenueEBITDA

Quarterly values (INR mln)

02004006008002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

0%20%40%60%80%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

Net debt / cash (INR mln)

010 00020 00030 00040 0002024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q22026 q4

Profit and cash

Profit is cash-backed
In a typical year of 2022–2026 operating cash flow came to 1.64x of reported net profit; after capex, 0.96x. Loss years (2022) are left out of the ratio.
year2023202420252026
cash flow / profit4.41x1.91x0.91x1.38x
accruals, % of assets-6.4%-7.2%1.0%-5.2%
net debt / EBITDA 0.2x · capex 1.4x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: +224.8%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-06-30 vs 2025-06-30)
= (266 − 191) × 3.60
270
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (10 376 + 17 425) ÷ 956
29.1x
3. Target multiple
(Current EV/EBITDA + 11) ÷ 2
= (29.1 + 11) ÷ 2
20.0x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= 17 905 + 0 + 0 − 0
17 905
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (270 × 20.0 + 17 905) ÷ 10 376
+224.8%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • FCF (LTM) approximated by latest FY (ended 2026-03-31, before the latest reported period 2026-06-30)
  • dividends/buybacks not in data - balance cash flow uses net-debt change only

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +24% vs +13% the year before — a +11.0 pp move. 3-year CAGR +19%.
revenue growth by year: 2024 +21% · 2025 +13% · 2026 +24%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Dividends

No dividend rows found for this issuer (checked: Yahoo Finance (ex-div)).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Lupin — from primary filings.

Frequently asked questions

What is Lupin's P/E ratio?
Lupin trades at a P/E of 17.8x (price to trailing 12-month earnings).
What is Lupin's EV/EBITDA?
Lupin trades at 31.0x EV/EBITDA.
What is Lupin's P/B ratio?
Lupin trades at a P/B of 4.3x.
What is Lupin's return on equity (ROE)?
Lupin's ROE is 25.6%.
What is Lupin's market capitalization?
Lupin's market cap is 10.4 bn USD.

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