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LUPIN · NSE · Pharmaceuticals

Lupin Ltd

What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Mid Cap · AMFI list Jan-Jun 2026 · Vendor sector: Basic Materials
cheap low confidence No valuation within 120 days; P/E 15.8 vs peers 42.8 (1st of 23); P/B 3.5 vs peers 7.2 (8th of 25).
Statements through FY2026Prices adjusted for corporate actionsNot yet reviewed by the adversarial model

What is Lupin's share price today?

Lupin last traded at ₹1,935.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 1.1% on the day, down 0.8% over a year. Its 52-week range is ₹1,900 to ₹2,530. The live price is in the app.

₹1,935.00 −1.1% today
−0.8% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
60 month-end closes, 31 Oct 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range6% of the way up
Low ₹1,900High ₹2,530

What is Lupin's market cap?

Lupin's market capitalisation is about ₹89,469 crore: what it would cost to buy every share at today's price. That makes it the 26th largest mid cap company we cover.

₹89,469 Cr Mid Cap26th largest mid cap company
Mid Cap means the companies ranked 101 to 250 by size, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →

Key facts

From the exchange
Symbol
NSE: LUPIN
ISIN
INE326A01037
Cap bucket
Mid Cap, 26th largest by market cap
Industry (NSE)
Healthcare › Pharmaceuticals & Biotechnology › Pharmaceuticals
Listed since
2001
Futures and options
Traded

Is Lupin overvalued?

Cheap, with low confidence: no valuation within 120 days; P/E 15.8 vs peers 42.8 (1st of 23); P/B 3.5 vs peers 7.2 (8th of 25).

Valuation

Latest price and trailing 12 months
P/E 15.79
vs peers 42.8 · 1st of 23
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B 3.51
vs peers 7.2 · 8th of 25
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap ₹89,469 Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield 0.8%
vs peers 0.3% · 7th of 19
Last year's dividends as a share of today's price. Learn more →
PEG (vendor) 0.37
vs peers 3.0 · 2nd of 19
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth 0.12
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
3 models could be judged
Skipped — Fair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored

Our valuation range

🔒 Pro
Value range, implied growth at today's price, and the nine models behind it: in the app.

Is Lupin a quality business?

Quality score 59, 10th of 24 in its peer set; CLEAN on 30 of 30 flags judged.

Quality and risk

Data as of 12 Oct 2026
Business quality Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score 59
vs peers 53.3 · 10th of 24
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level CLEAN
30 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →

Profitability

ROE 23.4%
vs peers 15.6% · 6th of 25
Return on equity: profit as a share of shareholders' money. Learn more →
ROCE 27.5%
vs peers 18.7% · 5th of 25
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity. Learn more →
Profit margin 18.2%
vs peers 13.8% · 7th of 24
Profit after everything, as a share of revenue. Learn more →
EPS ₹117.14
Trailing 12 months
Profit for each share over the last 12 months.

Scorecard

🔒 Pro
Health scores and red flags with their values and history: in the app.
See the scorecard →
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Has Lupin made money for shareholders?

Mixed: −0.8% over one year and +16.4% a year over five years.

Shareholder returns

1-year return −0.8%
Price only
What the share price did over the last 12 months. Learn more →
5-year return +16.4% a year
Price only
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer No
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →

Returns

3Y and 5Y are yearly averages
1W
−2.7%
1M
−5.2%
3M
−21.5%
6M
−15.5%
1Y
−0.8%
3Y
+21.6%
5Y
+16.4%

Does Lupin pay a dividend?

Yes. Lupin's dividend yield is 0.78% at the latest price; the last payout was ₹18.00 a share, ex-dividend 17 Jul 2026.

Dividends

Per share, by ex-dividend date
Dividend yield0.78%
The past 12 months' dividends as a share of today's price.
17 Jul 2026 · Final₹18.00
25 Jul 2025 · Final₹12.00
16 Jul 2024 · Final₹8.00
14 Jul 2023 · Final₹4.00
14 Jul 2022 · Final₹4.00
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.

Is Lupin growing?

Revenue 3 years 20.0% a year; profit 3 years 131.5% a year; revenue 5 years 12.9% a year.

Growth

Statements through FY2026 (Mar-26)
Revenue 3 years 20.0% a year
vs peers 13.6% · 7th of 24
Compound annual growth of revenue over three years. Learn more →
Profit 3 years 131.5% a year
vs peers 20.2% · 2nd of 21
Compound annual growth of net profit over three years. Learn more →
Revenue 5 years 12.9% a year
Compound annual growth of revenue over five years. Learn more →
Profit 5 years Not available
Compound annual growth of net profit over five years. Learn more →
EPS 3 years 131.1% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
EPS 5 years 34.2% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
P/E vs own history -54.6%
vs peers 15.8% · 1st of 19
Today's P/E against its own 5-year median; negative is cheaper than its history. Learn more →

How did Lupin do last quarter?

Lupin reported revenue of ₹8,217 Cr, up 23.1% on a year earlier and a net profit of ₹1,417 Cr, up 62.0% in the Jun 2026 quarter.

Latest quarter

Jun 2026
Revenue, latest quarter₹8,217 Cr
+23.1% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹1,417 Cr
+62.0% on a year earlier
What was left for shareholders after every cost and tax.

How does Lupin compare with its peers?

Compared with 24 Pharmaceuticals; 1st of 23 on P/E; 10th of 24 on quality score.

Compared with 24 Pharmaceuticals

24 companies

Lupin against its peers

Largest 10 of 24 peers, by market cap
CompanyMarket capP/EP/BROEROCE1YQuality 🔒Rank 🔒
Lupin Ltd₹89,469 Cr15.83.523.4%27.5%−0.8%
Divis Laboratories Ltd₹2.5 L Cr84.89.416.5%21.4%+42.5%
Torrent Pharmaceuticals Ltd₹1.8 L Cr74.316.927.3%19.2%+32.4%
Zydus Lifesciences Ltd₹1.1 L Cr24.93.715.9%15.9%+12.3%
Laurus Labs Ltd₹1.1 L Cr100.510.215.1%14.9%+132.9%
Cipla Ltd₹1.1 L Cr31.22.910.6%13.9%−16.8%
Dr Reddys Laboratories Ltd₹99,911 Cr30.93.310.7%12.6%−5.2%
Mankind Pharma Ltd₹97,830 Cr47.95.013.3%13.1%−3.0%
Aurobindo Pharma Ltd₹97,411 Cr26.43.311.2%12.9%+48.9%
Glenmark Pharmaceuticals Ltd₹64,714 Cr36.02.53.9%6.3%+20.1%
Alkem Laboratories Ltd₹63,118 Cr29.34.517.3%18.8%−3.9%
Peer median—42.87.215.6%18.7%+33.8%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.

Full peer comparison

🔒 Pro
Every peer, every figure, the ranks and the quality and forensic scores side by side: in the app.

Who owns Lupin?

Lupin is held by promoters 46.9%, foreign institutions 22.4%, domestic institutions 24.6%.

Shareholding pattern

Latest filing, percent of shares
Promoters46.9%
The founders and controlling group.
Foreign institutions22.4%
Overseas funds investing through the FPI route.
Domestic institutions24.6%
Indian insurers, banks, pension and mutual funds together.
Mutual funds14.8%
Indian mutual fund schemes; part of domestic institutions.
Retail and others4.9%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.

What do analysts say about Lupin?

35 analysts cover Lupin, and the consensus is hold. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Analyst consensus

35 analysts
ConsensusHold
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.

What does Lupin do and what is it sensitive to?

Lupin Limited manufactures and sells pharmaceuticals, including generics, complex generics, biosimilars and APIs, to patients through channel partners, institutions, prescribers and other pharma companies. Sensitive to: currency (USD-INR, EUR-INR, ZAR-INR).

Business-model card

FY2026 · 47 verified
5Revenue
4Channels
3Regulators
5Reg. dependencies
5Sensitivities
5Costs
4Geographies

Lupin Limited manufactures and sells pharmaceuticals, including generics, complex generics, biosimilars and APIs, to patients through channel partners, institutions, prescribers and other pharma companies. Revenue comes mainly from product sales, supplemented by service income, research services, IP sales and out-licensing or profit-share arrangements.

Revenue by segment

year ended March 31, 2026 (consolidated; amounts in ₹ million)
Pharmaceuticals99.5%
Others0.5%

Revenue engine

5 verified
Manufacturing and sales of Pharmaceuticals (99.1%)
Pharmaceutical manufacturing and sales make up 99.1% of the entity's turnover, per the business-activity table.
Sale of pharmaceutical goods
Largest revenue line in the disaggregation: sale of pharmaceutical goods, recognised at a point in time on delivery, net of returns, GST and trade discounts (FY2025 value 220,861.9 million).
Service Income
Smaller revenue line (FY2025 value 1,035.9 million) recognised over the period of services or at a point in time, per the accounting policy.
2 more statements
Income from research services and sale of IPs
Revenue from research services and technology/know-how or dossier sales, recognised when the related performance obligation is completed; FY2025 value 23.3 million versus 2,500.1 million in FY2024.
Profit share revenues and out-licensing
Under marketing arrangements the company sells at a non-refundable base price and earns a profit share dependent on the partner's net sales or profits; out-licensing yields up-front, milestone and royalty income.

Customers & channels

4 verified
Patients via channel partners
Patient access runs through wholesalers, distributors, pharmacy chains and independent retail pharmacies, so channel partners carry product availability to patients.
Institutional and government buyers
Hospitals, healthcare systems and government or public health agencies procure at scale; tender-based institutional demand is exposed to budget pressure.
Medical practitioners as prescribers
Physicians and specialists prescribe and recommend therapies, so prescriber engagement is a route to patient demand.
1 more statement
Other pharmaceutical companies as B2B customers
Supplies generic products and APIs to other pharma firms through collaborations and commercial partnerships.

Regulators

3 verified
U.S. Food and Drug Administration (FDA)
Facility preparedness and approvals for the U.S. market; the company engages with the FDA on remediation and quality upgrades, which bear on approvals and launch confidence.
U.S. and EMEA governments setting drug cost policy
Government drug-cost measures in the U.S. and EMEA regions pose a risk to the company's margins and competitive advantage.
Regulators in U.S., EU and Australia
Evolving regulatory frameworks in these markets raise the cost and complexity of compliance; deviations can lead to recalls or import alerts.

Regulatory dependencies

5 verified
Government drug-cost and healthcare-cost measures
Interpretation: cuts or new cost-containment rules in the U.S. and other developed markets would lower realised prices and margins on generic volumes.
Reimbursement frameworks and payer consolidation
Changes in reimbursement rules, payer consolidation and cost-containment measures can affect margins on tender-led and commoditised generics.
Quality and regulatory compliance
Regulatory observations, delayed approvals or site disruptions can affect launch timelines, market access and customer confidence; a deviation can lead to recalls or import alerts.
2 more statements
Tariffs and trade barriers
Uncertainty over U.S. tariffs and self-reliance policies in export countries can increase costs, disrupt supply chains and reduce margins.
Public health procurement budgets
Budget pressure on donor-funded programmes and public procurement can change tender volumes, pricing and receivables.

Sensitivities

5 verified
Currency (USD-INR, EUR-INR, ZAR-INR)
Direction: extreme currency moves reduce profitability; natural hedges and forex derivatives are used to offset part of the exposure.
Interest rates
A 100 bp move changes profit only through variable-rate borrowings; the excerpt shows nil variable-rate borrowings at 31.03.2025 and 1.8 million (FY2024) per 100 bp.
Finance cost on borrowings
Interpretation: higher borrowings raise financing cost; interest on borrowings carried at amortised cost rose from 2,066.4 to 3,198.1 million between the two years shown.
2 more statements
API and commodity prices
API prices fluctuate over short periods; procurement policies are the stated mitigant, so input-price moves flow into cost of materials.
Freight and logistics costs
Global freight and logistics inflation adds to cost headwinds alongside raw-material volatility.

Cost inputs

5 verified
Raw materials
Raw material consumption of 36,210.3 million (FY2026 in the consolidated note), sourced from API and key starting material suppliers.
Packing materials
Packing material consumption of 10,008.7 million (FY2026), totalling 46,219.0 million with raw materials.
API and Key Starting Material (KSM)
Prices are volatile, influenced by geopolitical events, environmental compliance in supplier countries and supply-demand gaps; the company uses multi-sourcing and backward integration.
2 more statements
Freight and logistics
Company states it moved some freight from air to ocean and renegotiated freight contracts as part of cost discipline.
Salaries and wages
Employee cost line of 21,449.9 million in FY2026, a major operating cost alongside materials.

Geographies

4 verified
Export markets (58.6%)
Exports are a majority of total turnover; the excerpt does not label the year it refers to.
United States generics market
Base price erosion and consolidation of buyers pressure margins in the U.S. generics business.
Operations across 100+ markets
Presence in more than 100 markets exposes the company to currency and trade risk across geographies.
1 more statement
India
Domestic market served from national plants and offices across 28 states and 6 union territories.
Each statement is checked word for word against the FY2026 annual report; the passages are in the app.

What changed recently?

Q1 FY2027 results filed (6 Aug 2026).

Change log

6 entries · newest first
  1. Results filedQ1 FY2027 results filed.
  2. Results filedQ4 FY2026 results filed.
  3. Results filedQ3 FY2026 results filed.
  4. Results filedQ2 FY2026 results filed.
  5. Results filedQ1 FY2026 results filed.
  6. Results filedQ4 FY2025 results filed.
Get alerts →Sign in to be told when any of these change.

What this page does not tell you

What could not be judged, and why. Never empty.
  • Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
  • FlagsCLEAN on 30 of 30 flags judged; no red flag.
  • Data gapsBusiness quality, Profit 5 years: not available yet.

What this page rests on

✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓279 months of month-end prices, adjusted for bonuses and splits○no valuation of ours yet✓business-model card FY2026 · 47 verified

Questions people ask

What is Lupin's share price today?

Lupin last traded at ₹1,935.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 1.1% on the day, down 0.8% over a year. Its 52-week range is ₹1,900 to ₹2,530. The live price is in the app.

What is Lupin's market cap?

Lupin's market capitalisation is about ₹89,469 crore: what it would cost to buy every share at today's price. That makes it the 26th largest mid cap company we cover.

Is Lupin Ltd a large cap, mid cap or small cap?

Lupin Ltd (LUPIN) is a mid cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.

What is Lupin Ltd's P/E ratio?

15.79, vs peers 42.8 · 1st of 23. Price divided by last year's earnings per share: how many years of today's profit you pay for.

Is Lupin Ltd overvalued?

Cheap, with low confidence: no valuation within 120 days; P/E 15.8 vs peers 42.8 (1st of 23); P/B 3.5 vs peers 7.2 (8th of 25).

How does Lupin Ltd make money?

Lupin Limited manufactures and sells pharmaceuticals, including generics, complex generics, biosimilars and APIs, to patients through channel partners, institutions, prescribers and other pharma companies. Revenue comes mainly from product sales, supplemented by service income, research services, IP sales and out-licensing or profit-share arrangements.

Who are Lupin Ltd's peers?

Compared with 24 Pharmaceuticals: Divis Laboratories Ltd, Torrent Pharmaceuticals Ltd, Zydus Lifesciences Ltd, Laurus Labs Ltd, Cipla Ltd and 19 more. The app shows how they compare on every figure.

Is this investment advice?

No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.

How did Lupin do last quarter?

Lupin reported revenue of ₹8,217 Cr, up 23.1% on a year earlier and a net profit of ₹1,417 Cr, up 62.0% in the Jun 2026 quarter.

Who owns Lupin?

Lupin is held by promoters 46.9%, foreign institutions 22.4%, domestic institutions 24.6%.

Does Lupin pay a dividend?

Yes. Lupin's dividend yield is 0.78% at the latest price; the last payout was ₹18.00 a share, ex-dividend 17 Jul 2026.

What do analysts say about Lupin?

35 analysts cover Lupin, and the consensus is hold. A consensus is a count of opinions, not a forecast; read it beside the numbers.

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