Lupin Limited (IN:LUPIN)
:LUPIN
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Lupin Limited
(LUPIN)
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Rating:72Outperform
Price Target:
₹2,546.00
▲(31.31% Upside)
Action:UpgradedDate:10/30/25
Lupin Limited's overall stock score reflects its strong financial performance and fair valuation, tempered by mixed technical indicators. The company's robust revenue growth and profitability are significant positives, while the technical analysis suggests caution due to bearish momentum signals.
Positive Factors
Revenue growth & margins
Sustained double-digit revenue growth with high gross and operating margins reflects durable operational efficiency and pricing across products. Strong margins support ongoing R&D, commercialization and reinvestment capacity, helping the firm fund growth and absorb cyclical pressure over months.
Negative Factors
Weak free cash flow conversion
A sharp decline in FCF growth and low FCF-to-net-income ratio show earnings are not fully converting to cash. This constrains the company’s ability to self-fund capex, reduce leverage or increase shareholder returns without external financing, affecting medium-term financial flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth & margins
Sustained double-digit revenue growth with high gross and operating margins reflects durable operational efficiency and pricing across products. Strong margins support ongoing R&D, commercialization and reinvestment capacity, helping the firm fund growth and absorb cyclical pressure over months.
Read all positive factors
Lupin Limited (LUPIN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.05T
Dividend Yield0.57%
Average Volume (3M)25.39K
Price to Earnings (P/E)20.5
Beta (1Y)0.63
Revenue Growth15.49%
EPS Growth64.37%
CountryIN
Employees19,210
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)33.40
Shares Outstanding457,179,100
10 Day Avg. Volume23,417
30 Day Avg. Volume25,387
Financial Highlights & Ratios
PEG Ratio0.38
Price to Book (P/B)5.20
Price to Sales (P/S)3.94
P/FCF Ratio67.94
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹2,460.00Price Target Upside26.88% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)98.69
Revenue Forecast (FY)₹285.81B
Lupin Limited Business Overview & Revenue Model
Company Description
Lupin Limited, a pharmaceutical company, develops, produces, markets, and sells a range of branded and generic formulations, biotechnology products, and active pharmaceutical ingredients (APIs). It offers formulations for use in the therapeutic ar...
How the Company Makes Money
Lupin primarily makes money by selling pharmaceutical products across multiple geographies through (1) generic medicines, (2) branded formulations (particularly in India and select emerging markets), and (3) specialty products in certain segments....
Lupin Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 247.51B | 227.08B | 200.11B | 166.42B | 164.05B | 151.63B |
| Gross Profit | 157.85B | 153.27B | 128.99B | 94.10B | 95.05B | 94.18B |
| EBITDA | 64.56B | 50.51B | 36.27B | 15.73B | 19.66B | 25.24B |
| Net Income | 43.25B | 32.82B | 19.14B | 4.30B | -15.28B | 12.17B |
Balance Sheet | ||||||
| Total Assets | 335.00B | 292.05B | 239.97B | 229.56B | 218.21B | 236.10B |
| Cash, Cash Equivalents and Short-Term Investments | 62.82B | 42.01B | 21.79B | 19.52B | 21.04B | 41.11B |
| Total Debt | 62.17B | 54.48B | 29.22B | 45.42B | 41.58B | 51.29B |
| Total Liabilities | 137.72B | 119.11B | 96.24B | 104.13B | 95.99B | 97.52B |
| Stockholders Equity | 196.33B | 172.03B | 142.90B | 124.64B | 121.53B | 138.03B |
Cash Flow | ||||||
| Free Cash Flow | 23.29B | 13.18B | 27.19B | 3.98B | -5.38B | 11.44B |
| Operating Cash Flow | 29.03B | 30.00B | 36.48B | 18.97B | 3.67B | 18.22B |
| Investing Cash Flow | -28.42B | -41.72B | -17.12B | -12.87B | 12.92B | -12.40B |
| Financing Cash Flow | -2.77B | 17.32B | -21.84B | -3.37B | -15.72B | -18.85B |
Lupin Limited Technical Analysis
Positive
1938.85
Price Trends
2255.79
Positive
2176.90
Positive
2061.42
Positive
Market Momentum
7.16
Positive
50.59
Neutral
59.53
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:LUPIN, the sentiment is Positive. The current price of 1938.85 is below the 20-day moving average (MA) of 2308.47, below the 50-day MA of 2255.79, and below the 200-day MA of 2061.42, indicating a neutral trend. The MACD of 7.16 indicates Positive momentum. The RSI at 50.59 is Neutral, neither overbought nor oversold. The STOCH value of 59.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:LUPIN.
Lupin Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹1.05T | 20.49 | ― | 0.57% | 15.49% | 64.37% | |
72 Outperform | ₹897.11B | 22.07 | ― | 1.19% | 14.01% | 14.62% | |
70 Outperform | ₹993.96B | 21.88 | ― | 0.63% | 14.10% | 9.72% | |
68 Neutral | ₹982.10B | 45.14 | ― | 0.87% | 6.93% | 21.55% | |
66 Neutral | ₹1.36T | 51.30 | ― | 0.84% | 9.11% | 18.76% | |
59 Neutral | ₹843.08B | 55.46 | ― | 0.04% | 23.22% | -19.19% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
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Lupin Limited Corporate Events
Lupin Wins U.S. FDA Nod for Generic Dapagliflozin Tablets
Apr 7, 2026
Lupin Limited has secured U.S. Food and Drug Administration approval for its Abbreviated New Drug Application for Dapagliflozin Tablets in 5 mg and 10 mg strengths. The product has been deemed bioequivalent to AstraZeneca’s Farxiga for the i...
Lupin Wins Tentative U.S. FDA Nod for Generic Pitolisant Tablets
Mar 25, 2026
Lupin Limited has secured tentative approval from the U.S. Food and Drug Administration for its Abbreviated New Drug Application for Pitolisant Tablets in 4.45 mg and 17.8 mg strengths, which will be manufactured at its Nagpur facility in India. T...
Lupin Receives Two FDA Observations After Ankleshwar Plant Inspection
Mar 7, 2026
Lupin Limited said the U.S. Food and Drug Administration has completed an inspection of its Ankleshwar manufacturing facility in India, conducted from March 2 to March 7, 2026. The review closed with a Form 483 containing two observations, indicat...
Lupin Says GST Department Inspection Concludes With No Financial Impact
Mar 2, 2026
Lupin Limited reported that the Maharashtra Goods Service Tax Department has concluded its inspection and search proceedings at the company’s registered office, which began in late February and ended on March 2, 2026. The company stated it ...
Lupin Wins Positive U.S. FDA Inspection Outcome for Goa Plant
Feb 27, 2026
Global drugmaker Lupin Limited has received an Establishment Inspection Report from the U.S. Food and Drug Administration for its Goa, India manufacturing facility, with a Voluntary Action Indicated classification. The report follows an FDA inspec...
Lupin CEO Vinita Gupta Named CNBC Changemaker as U.S. Expansion Gains Momentum
Feb 26, 2026
Lupin Limited announced that its CEO, Vinita Gupta, has been named to the 2026 CNBC Changemakers list of Women Transforming Business, recognizing her role in making medicines more accessible and affordable for Americans. The honor underscores Lupi...
Lupin Tops Global Pharma and India Rankings in S&P ESG Assessment 2025
Feb 26, 2026
Lupin Limited has been ranked the number one pharmaceutical company globally and the top company across all sectors in India in the SP Global Corporate Sustainability Assessment 2025, with an overall score of 91 out of 100. This places Lupin among...
Lupin Partners with TB Alliance to Advance Telacebec for Tuberculosis and Other Mycobacterial Diseases
Feb 2, 2026
Lupin Limited has entered into a strategic collaboration with nonprofit drug developer TB Alliance to advance the clinical development and commercialization of the investigational drug Telacebec for multiple mycobacterial diseases, including tuber...
Lupin Strikes Global Semaglutide Deal With Galenicum Across 23 Markets
Jan 21, 2026
Lupin Limited has entered into a licensing and supply agreement, via its subsidiary Lupin Atlantis Holdings, with Spain-based Galenicum Health for finished injectable formulations of Semaglutide, a GLP-1 receptor agonist used in Type 2 diabetes an...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.