āagman

Not investment advice. Data and computed figures, for information only.

Lupin Ltd

NSE: LUPINF&O
₹1,980.90
+₹27.70 (+1.42%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹89,469 Cr
CMP
₹1,980.90
52-wk High / Low
₹2,530 / 1,900
P/E
15.0
P/B
4.0
Book Value
₹491.0
Div Yield
0.92%
ROCE
30.0%
ROE
28.7%
Face Value
₹2
D/E
0.29

Price+1.1% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
6
/ 9
6 of 9 F-score tests passed
Graham Number
₹1,135
√(22.5 × EPS × book value per share)
ROIC
18.2%
vs 11.2% sector median
Cash flow to profit
1.37
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+205
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
24.7%
ROE × earnings retention ratio
ROE stability
13.0
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII +0.72DII −0.67
Latest quarter vs the previous one
Cash-accrual divergence
−5.9%
of assets
Low = accruals track cash flow
Strengths
+Annualised volatility of 19.6% is in the low band (≤25%)
+FII holding rose by 9.1pp over the last year
+PE of 15x is below the sector median of 45.9x
Watch-outs
−Price trades below its 200-day moving average (0.9x)
−Promoter holding fell by 0.2pp over the last year

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales4,8145,0395,1974,9615,6005,6735,7685,6676,2687,0487,1687,4758,277
Expenses3,9584,1214,1593,9644,3594,3324,4124,3464,5414,7064,9064,9895,827
Operating Profit8569181,0389971,2411,3401,3561,3211,7272,3412,2622,4862,450
OPM %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%
Other Income23402929684254577990−3129130
Interest868174716871678992108115120110
Depreciation235248257457248257271393299317313447453
Profit before tax5596307364989931,0551,0718961,4162,0071,5221,9282,017
Net Profit4534956193688068598597821,2211,4851,1811,4691,417
EPS (₹)9.9410.7613.477.8917.5818.6918.7416.9226.6932.3625.7331.9430.95

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales12,77014,25617,36715,79714,66515,37515,16316,40516,64220,01122,70827,95829,967
Expenses9,14610,56412,86512,64912,10413,02012,59616,18714,92116,21117,43019,79820,428
Operating Profit3,6243,6914,5023,1482,5612,3552,5672191,7213,8005,2788,1609,538
OPM %28.4%25.9%25.9%19.9%17.5%15.3%16.9%1.3%10.3%19.0%23.2%29.2%31.8%
Other Income235184106−1,31091−134138210151131202523−82
Interest1059153204302363141143274312295434452
Depreciation4354879121,0868469708871,6598811,1971,1691,3761,529
Profit before tax3,4153,3293,5435471,5038871,676−1,3727162,4224,0156,8737,474
Net Profit2,4442,2702,565258615−2701,228−1,5284481,9363,3065,3555,551
EPS (₹)53.4750.1756.635.5613.40−5.9526.81−33.629.4542.0171.88116.65120.98

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital909090909091919191919191—
Reserves8,78411,07313,40713,48713,65212,44613,71212,06212,37414,19917,11222,357—
Borrowings5377,1787,9667,1438,4966,3054,7834,1584,5422,9225,4486,616—
Other Liabilities3,6423,9574,7495,3005,4235,9684,8445,3405,7946,5396,3279,082—
Total Liabilities13,05422,29826,21226,02027,66124,81023,43021,65122,80023,75128,97838,146—
Fixed Assets4,3688,71711,03310,36211,0877,9387,8817,3828,3558,8789,71910,994—
CWIP5762,7022,1332,5981,6409401,0661,1461,2387735171,016—
Investments1,658162,1362622,2952,3742,4559005171,0751,1463,670—
Other Assets6,45110,86210,91012,79812,63913,55712,02812,22412,69013,02617,59622,466—
Total Assets13,05422,29826,21226,02027,66124,81023,43021,65122,80023,75128,97838,146—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity2,0042,733−3824,1141,7511,6661,4691,8223671,8973,6483,0007,334
Cash from Investing Activity−851−1,034−6,769−2,527470−3,2821,107−1,2401,292−1,287−1,712−4,172−3,865
Cash from Financing Activity−857−1975,836433−1,492744−891−1,885−1,572−337−2,1841,732−846
Net Cash Flow2961,502−1,3152,019729−8721,685−1,30387273−2485602,624

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %41.040.024.019.010.010.09.09.0−7.06.016.021.030.0
ROE %————————————28.7
EPS (₹)40.9653.4750.1756.635.5613.40−5.9526.81−33.629.4542.0171.88116.65
Book Value (₹)————————————491.0
Face Value (₹)————————————2
P/E————————————15.0
Div Yield %————————————0.92
NPM %16.618.815.714.71.84.2−1.88.0−9.22.79.614.418.8
OPM %27.028.026.026.020.017.015.017.01.310.019.023.029.0
D/E0.090.060.640.590.530.620.500.350.340.360.200.320.29
P/B————————————4.0

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+7.0%
5 years+13.0%
3 years+19.0%
TTM+28.0%
Compounded profit growth
10 years+10.0%
5 years+37.0%
3 years+140.0%
TTM+61.0%
Stock price CAGR
10 years+3.0%
5 years+15.0%
3 years+19.0%
Last year+0.0%
Return on equity
10 years10.0%
5 years13.0%
3 years22.0%
Last year29.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters46.69%46.69%47.01%46.97%46.92%46.86%46.78%47.08%47.01%46.91%46.85%46.85%
FIIs31.87%31.87%25.39%25.87%22.68%17.87%14.65%13.32%18.29%21.46%21.70%22.42%
DIIs9.14%9.14%12.01%11.92%16.27%22.30%26.91%28.92%27.76%25.41%25.32%24.65%
Government0.23%0.23%0.20%0.28%0.28%0.29%0.29%0.28%0.01%0.01%0.00%0.00%
Public12.06%12.06%15.40%14.96%13.85%12.69%11.37%10.39%6.93%6.21%6.13%6.08%
No. of shareholders2,20,7752,20,7753,61,0183,15,5502,91,7332,93,7823,78,5473,48,1492,80,2482,83,2102,90,4113,00,283
Change since Jun 2023 (pp)
Promoters +0.16FIIs −9.45DIIs +15.51Public −5.98

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseAnnouncement under Regulation 30 (LODR)-Press Release / Media ReleaseCompletion Of Buyback Of Shares By Multicare Pharmaceuticals Philippines, Inc.Closure of Trading Window
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingAug 2026PPTMay 2026TranscriptMay 2026PPTFeb 2026TranscriptFeb 2026PPTFeb 2026RecordingNov 2025TranscriptNov 2025PPT

Corporate actions

As of 17 Jul 2026
17 Jul 2026DIVIDENDDividend - Rs 18 Per Share—
25 Jul 2025DIVIDENDDividend - Rs 12 Per Share—
16 Jul 2024DIVIDENDDividend - Rs 8 Per Share—
14 Jul 2023DIVIDENDDividend - Rs 4 Per Share—
14 Jul 2022DIVIDENDDividend - Rs 4 Per Share—
27 Jul 2021DIVIDEND Dividend - Rs 6.50 Per Share—
3 Aug 2020DIVIDEND Annual General Meeting/Dividend - Rs 6 Per Share—
29 Jul 2019DIVIDEND Annual General Meeting/Dividend - Rs 5 Per Share—
30 Jul 2018DIVIDEND Annual General Meeting/Dividend Rs 5/- Per Share—
24 Jul 2017DIVIDEND Annual General Meeting/Dividend - Rs 7.50 Per Share—
25 Jul 2016DIVIDEND Annual General Meeting/ Dividend -Rs 7.50/- Per Share—
14 Jul 2015DIVIDENDAnnual General Meeting/ Dividend - Rs 7.50/- Per Share—
21 Jul 2014DIVIDENDAnnual General Meeting / Final Dividend - Rs 3/- Per Share—
13 Feb 2014DIVIDENDInterim Dividend - Rs 3/- Per Share—
29 Jul 2013DIVIDENDAnnual General Meeting / Dividend - Rs 4/- Per Share—
13 Jul 2012DIVIDENDAnnual General Meeting And Dividend Rs.3.20 Per Share—
18 Jul 2011DIVIDENDAnnual General Meeting And Dividend Rs.3/- Per Share—
27 Aug 2010SPLITFace Value Split From Rs.10/- To Rs.2/-10 : 2
19 Jul 2010DIVIDENDAnnual General Meeting And Dividend Rs.13.50 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman