Lupin Ltd.
LUPINHealthcare filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
30 transcript(s)/analyst meet(s) served; 1 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 30 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20190213 | 2018-12-31 | yes | |
| TRANSCRIPT | 20191113 | 2019-09-30 | yes | |
| TRANSCRIPT | 20191115 | 2019-09-30 | yes | |
| TRANSCRIPT | 20200214 | 2019-12-31 | yes | |
| TRANSCRIPT | 20200609 | 2020-03-31 | yes | |
| TRANSCRIPT | 20200817 | 2020-06-30 | yes | |
| TRANSCRIPT | 20201124 | 2020-09-30 | yes | |
| TRANSCRIPT | 20210210 | 2020-12-31 | yes | |
| TRANSCRIPT | 20210525 | 2021-03-31 | yes | |
| TRANSCRIPT | 20210826 | 2021-06-30 | yes | |
| TRANSCRIPT | 20211110 | 2021-09-30 | yes | |
| TRANSCRIPT | 20220213 | 2021-12-31 | yes | |
| ANALYST_MEET | 20220525 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220809 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221116 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230216 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230516 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230811 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231117 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240214 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240514 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240813 | 2024-06-30 | yes | |
| COVER_LETTER | 20241113 | 2024-09-30 | no | |
| TRANSCRIPT | 20250219 | 2024-12-31 | yes | |
| ANALYST_MEET | 20250521 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250811 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251112 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260217 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260514 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260812 | 2026-06-30 | yes |
LUPIN
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 2,100.70 |
| 52-week range | 1905.6 – 2514.8 |
| Return 1M | -3.44% |
| Return 3M | -10.36% |
| Return 1Y | 5.52% |
| Return 3Y | 89.16% |
| Return 5Y | 126.81% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 8,277.00 |
| Other income | 130.00 |
| Total income | 8,407.00 |
| Cost of materials consumed | 1,312.00 |
| Purchases of stock-in-trade | 842.00 |
| Changes in inventories | -65.00 |
| Employee benefit expense | 1,383.00 |
| Finance costs | 110.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.47 | -0.00 |
| institutions foreign | 0.22 | 0.01 |
| institutions domestic | 0.25 | -0.01 |
| mutual funds | 0.15 | -0.02 |
| public | 0.53 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| ANALYST_MEET | 2025-03-31 | 2 |
| COVER_LETTER | 2024-09-30 | 1 |
| TRANSCRIPT | 2026-06-30 | 27 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 4,146.00 | 4,322.00 | 4,430.00 | 4,814.00 | 5,039.00 | 5,197.00 | 4,961.00 | 5,600.00 | 5,673.00 | 5,768.00 | 5,667.00 | 6,268.00 | 7,048.00 | 7,168.00 | 7,475.00 | 8,277.00 |
| Other income | 15.00 | 18.00 | 37.00 | 23.00 | 40.00 | 29.00 | 29.00 | 68.00 | 42.00 | 54.00 | 57.00 | 79.00 | 90.00 | 115.00 | 141.00 | 130.00 |
| Total income | 4,160.00 | 4,340.00 | 4,467.00 | 4,837.00 | 5,079.00 | 5,227.00 | 4,990.00 | 5,668.00 | 5,715.00 | 5,821.00 | 5,724.00 | 6,347.00 | 7,138.00 | 7,282.00 | 7,615.00 | 8,407.00 |
| Cost of materials consumed | 991.00 | 966.00 | 911.00 | 950.00 | 991.00 | 1,107.00 | 1,094.00 | 1,146.00 | 1,118.00 | 1,084.00 | 1,109.00 | 1,127.00 | 1,139.00 | 1,125.00 | 1,231.00 | 1,312.00 |
| Purchases of stock-in-trade | 671.00 | 794.00 | 657.00 | 767.00 | 855.00 | 676.00 | 661.00 | 641.00 | 660.00 | 766.00 | 576.00 | 714.00 | 725.00 | 720.00 | 708.00 | 842.00 |
| Changes in inventories | 51.00 | -53.00 | 182.00 | -76.00 | -143.00 | -57.00 | -182.00 | -42.00 | -88.00 | -129.00 | 1.00 | -69.00 | -39.00 | 34.00 | -88.00 | -65.00 |
| Employee benefit expense | 772.00 | 764.00 | 773.00 | 844.00 | 861.00 | 889.00 | 900.00 | 971.00 | 1,008.00 | 984.00 | 1,001.00 | 1,083.00 | 1,106.00 | 1,143.00 | 1,243.00 | 1,383.00 |
| Finance costs | 55.00 | 84.00 | 93.00 | 86.00 | 81.00 | 74.00 | 71.00 | 68.00 | 71.00 | 67.00 | 89.00 | 92.00 | 108.00 | 115.00 | 120.00 | 110.00 |
| Depreciation and amortisation | 203.00 | 220.00 | 264.00 | 235.00 | 248.00 | 257.00 | 457.00 | 248.00 | 257.00 | 271.00 | 393.00 | 299.00 | 317.00 | 313.00 | 447.00 | 453.00 |
| Other expenses | 1,208.00 | 1,318.00 | 1,329.00 | 1,473.00 | 1,557.00 | 1,544.00 | 1,490.00 | 1,644.00 | 1,635.00 | 1,706.00 | 1,659.00 | 1,686.00 | 1,776.00 | 1,884.00 | 1,895.00 | 2,355.00 |
| Total expenses | 3,951.00 | 4,094.00 | 4,209.00 | 4,278.00 | 4,449.00 | 4,491.00 | 4,492.00 | 4,675.00 | 4,660.00 | 4,750.00 | 4,828.00 | 4,932.00 | 5,131.00 | 5,334.00 | 5,556.00 | 6,390.00 |
| Profit before exceptional items and tax | 210.00 | 246.00 | 258.00 | 559.00 | 630.00 | 736.00 | 498.00 | 993.00 | 1,055.00 | 1,071.00 | 896.00 | 1,416.00 | 2,007.00 | 1,949.00 | 2,059.00 | 2,017.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -427.00 | -131.00 | 0.00 |
| Profit before tax | 210.00 | 246.00 | 258.00 | 559.00 | 630.00 | 736.00 | 498.00 | 993.00 | 1,055.00 | 1,071.00 | 896.00 | 1,416.00 | 2,007.00 | 1,522.00 | 1,928.00 | 2,017.00 |
| Current tax | 80.00 | 59.00 | 30.00 | 130.00 | 172.00 | 226.00 | 106.00 | 238.00 | 203.00 | 269.00 | 281.00 | 491.00 | 324.00 | 205.00 | 508.00 | 984.00 |
| Deferred tax | -5.00 | 30.00 | -14.00 | -25.00 | -38.00 | -108.00 | 23.00 | -50.00 | -8.00 | -57.00 | -168.00 | -297.00 | 198.00 | 137.00 | -49.00 | -384.00 |
| Tax expense | 75.00 | 88.00 | 16.00 | 105.00 | 134.00 | 117.00 | 129.00 | 187.00 | 195.00 | 212.00 | 113.00 | 194.00 | 522.00 | 342.00 | 459.00 | 600.00 |
| Profit for the period | 134.00 | 158.00 | 242.00 | 453.00 | 495.00 | 619.00 | 368.00 | 806.00 | 859.00 | 859.00 | 782.00 | 1,221.00 | 1,485.00 | 1,181.00 | 1,469.00 | 1,417.00 |
| Profit attributable to owners | 130.00 | 153.00 | 236.00 | 452.00 | 490.00 | 613.00 | 359.00 | 801.00 | 853.00 | 855.00 | 773.00 | 1,219.00 | 1,478.00 | 1,176.00 | 1,460.00 | 1,415.00 |
| Profit attributable to non-controlling interests | 5.00 | 4.00 | 6.00 | 1.00 | 6.00 | 6.00 | 9.00 | 4.00 | 7.00 | 4.00 | 10.00 | 2.00 | 7.00 | 5.00 | 8.00 | 2.00 |
| Other comprehensive income | -86.00 | 183.00 | 12.00 | -36.00 | 22.00 | 78.00 | -27.00 | -53.00 | 58.00 | -120.00 | 23.00 | 160.00 | 96.00 | 120.00 | 64.00 | 36.00 |
| Total comprehensive income | 49.00 | 341.00 | 255.00 | 418.00 | 518.00 | 697.00 | 341.00 | 753.00 | 917.00 | 739.00 | 805.00 | 1,382.00 | 1,581.00 | 1,301.00 | 1,533.00 | 1,452.00 |
| Earnings per share, basic | 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 |
| Earnings per share, diluted | 2.85 | 3.36 | 5.16 | 9.90 | 10.72 | 13.41 | 7.86 | 17.52 | 18.64 | 18.69 | 16.87 | 26.62 | 32.28 | 25.67 | 31.89 | 30.89 |
Annual results, as filed
| Line | 2019-03-31 | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 16,369.00 | 15,375.00 | 15,163.00 | 16,405.00 | 16,642.00 | 20,011.00 | 22,708.00 | 27,958.00 |
| Other income | 713.00 | 484.00 | 136.00 | 142.00 | 73.00 | 120.00 | 196.00 | 424.00 |
| Total income | 17,082.00 | 15,859.00 | 15,299.00 | 16,547.00 | 16,715.00 | 20,131.00 | 22,904.00 | 28,382.00 |
| Cost of materials consumed | 3,560.00 | 3,164.00 | 3,170.00 | 3,236.00 | 3,688.00 | 4,142.00 | 4,457.00 | 4,622.00 |
| Purchases of stock-in-trade | 2,460.00 | 2,258.00 | 2,677.00 | 3,444.00 | 2,938.00 | 2,959.00 | 2,643.00 | 2,867.00 |
| Changes in inventories | -173.00 | 9.00 | -485.00 | -198.00 | 154.00 | -457.00 | -258.00 | -162.00 |
| Employee benefit expense | 3,151.00 | 2,987.00 | 2,826.00 | 2,989.00 | 3,087.00 | 3,495.00 | 3,964.00 | 4,575.00 |
| Finance costs | 308.00 | 363.00 | 141.00 | 143.00 | 274.00 | 312.00 | 295.00 | 434.00 |
| Depreciation and amortisation | 1,085.00 | 970.00 | 887.00 | 1,659.00 | 881.00 | 1,197.00 | 1,169.00 | 1,376.00 |
| Other expenses | 4,839.00 | 4,603.00 | 4,408.00 | 6,648.00 | 4,977.00 | 6,062.00 | 6,618.00 | 7,241.00 |
| Total expenses | 15,229.00 | 14,353.00 | 13,624.00 | 17,920.00 | 15,999.00 | 17,709.00 | 18,889.00 | 20,952.00 |
| Profit before exceptional items and tax | 1,853.00 | 1,505.00 | 1,675.00 | -1,373.00 | 716.00 | 2,422.00 | 4,015.00 | 7,430.00 |
| Exceptional items | -336.00 | -752.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -558.00 |
| Profit before tax | 1,517.00 | 753.00 | 1,675.00 | -1,373.00 | 716.00 | 2,422.00 | 4,015.00 | 6,873.00 |
| Current tax | 873.00 | 687.00 | 438.00 | 161.00 | 246.00 | 634.00 | 991.00 | 1,527.00 |
| Deferred tax | 29.00 | 470.00 | 10.00 | -24.00 | 22.00 | -147.00 | -282.00 | -10.00 |
| Tax expense | 902.00 | 1,157.00 | 449.00 | 137.00 | 269.00 | 487.00 | 709.00 | 1,517.00 |
| Profit for the period | 615.00 | -270.00 | 1,228.00 | -1,509.00 | 448.00 | 1,936.00 | 3,306.00 | 5,355.00 |
| Profit attributable to owners | 607.00 | -611.00 | 1,217.00 | -1,528.00 | 430.00 | 1,914.00 | 3,282.00 | 5,333.00 |
| Profit attributable to non-controlling interests | 9.00 | 3.00 | 11.00 | 19.00 | 18.00 | 21.00 | 25.00 | 23.00 |
| Other comprehensive income | -234.00 | -608.00 | 262.00 | 104.00 | 24.00 | 38.00 | -91.00 | 440.00 |
| Total comprehensive income | 382.00 | -878.00 | 1,490.00 | -1,405.00 | 472.00 | 1,973.00 | 3,215.00 | 5,796.00 |
| Earnings per share, basic | 34.34 | -5.96 | 27.09 | -33.65 | 9.46 | 42.05 | 71.95 | 116.75 |
| Earnings per share, diluted | 34.20 | -5.97 | 26.97 | -33.65 | 9.41 | 41.87 | 71.69 | 116.44 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 21,686.00 | 22,956.00 | 23,444.00 | 23,997.00 | 25,482.00 | 29,205.00 | 33,500.00 | 38,365.00 |
| Non-current assets | 9,839.00 | 10,505.00 | 10,855.00 | 10,550.00 | 10,462.00 | 12,406.00 | 13,235.00 | 14,337.00 |
| Current assets | 11,847.00 | 12,451.00 | 12,588.00 | 13,448.00 | 15,020.00 | 16,799.00 | 20,266.00 | 24,027.00 |
| Property, plant and equipment | 4,517.00 | 4,645.00 | 4,814.00 | 4,899.00 | 4,816.00 | 5,148.00 | 5,256.00 | 5,449.00 |
| Capital work-in-progress | 960.00 | 895.00 | 676.00 | 596.00 | 635.00 | 355.00 | 593.00 | 695.00 |
| Goodwill | 2,117.00 | 2,219.00 | 2,292.00 | 2,325.00 | 2,306.00 | 2,233.00 | 2,475.00 | 2,659.00 |
| Other intangible assets | 942.00 | 1,491.00 | 1,817.00 | 1,655.00 | 1,776.00 | 2,339.00 | 2,363.00 | 2,886.00 |
| Inventories | 4,679.00 | 4,492.00 | 4,674.00 | 4,954.00 | 5,285.00 | 5,476.00 | 5,955.00 | 6,083.00 |
| Trade receivables | 4,342.00 | 4,481.00 | 4,464.00 | 4,692.00 | 5,111.00 | 5,497.00 | 6,290.00 | 6,604.00 |
| Cash and cash equivalents | 848.00 | 1,232.00 | 1,481.00 | 983.00 | 1,109.00 | 1,544.00 | 1,328.00 | 4,168.00 |
| Total equity and liabilities | 21,686.00 | 22,956.00 | 23,444.00 | 23,997.00 | 25,482.00 | 29,205.00 | 33,500.00 | 38,365.00 |
| Equity | 11,924.00 | 12,543.00 | 13,307.00 | 14,373.00 | 15,720.00 | 17,294.00 | 19,728.00 | 22,513.00 |
| Equity share capital | 91.00 | 91.00 | 91.00 | 91.00 | 91.00 | 91.00 | 91.00 | 91.00 |
| Other equity | 11,773.00 | 12,374.00 | 13,148.00 | 14,199.00 | 15,551.00 | 17,112.00 | 19,541.00 | 22,357.00 |
| Total liabilities | 9,763.00 | 10,413.00 | 10,137.00 | 9,624.00 | 9,762.00 | 11,911.00 | 13,772.00 | 15,851.00 |
| Non-current liabilities | 1,275.00 | 1,148.00 | 1,215.00 | 1,122.00 | 1,773.00 | 2,949.00 | 2,951.00 | 3,200.00 |
| Current liabilities | 8,488.00 | 9,265.00 | 8,921.00 | 8,502.00 | 7,990.00 | 8,961.00 | 10,821.00 | 12,651.00 |
| Borrowings, non-current | 40.00 | 28.00 | 0.00 | 0.00 | 559.00 | 1,766.00 | 1,539.00 | 1,643.00 |
| Borrowings, current | 4,042.00 | 4,217.00 | 3,524.00 | 2,670.00 | 2,613.00 | 3,310.00 | 4,239.00 | 4,267.00 |
| Trade payables | 2,245.00 | 2,532.00 | 2,755.00 | 2,958.00 | 2,955.00 | 2,958.00 | 3,407.00 | 4,173.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 176.00 | 1,934.00 | 1,628.00 | 3,490.00 | 1,098.00 | 430.00 | 2,789.00 | 7,546.00 |
| Net cash from investing activities | -87.00 | -1,324.00 | -236.00 | -1,554.00 | -948.00 | -1,602.00 | -2,728.00 | -4,076.00 |
| Net cash from financing activities | -246.00 | -337.00 | -1,148.00 | -2,184.00 | 1.00 | 1,732.00 | -277.00 | -846.00 |
| Purchase of property, plant and equipment | 431.00 | 1,500.00 | 482.00 | 929.00 | 468.00 | 1,682.00 | 574.00 | 2,055.00 |
| Net increase in cash | -144.00 | 273.00 | 244.00 | -248.00 | 151.00 | 560.00 | -216.00 | 2,624.00 |
| con:CFO.BEFORE_TAX | 322.00 | 2,177.00 | 1,905.00 | 3,816.00 | 1,398.00 | 1,336.00 | 3,383.00 | 8,813.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 146.00 | 243.00 | 277.00 | 326.00 | 300.00 | 906.00 | 594.00 | 1,267.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 8.00 | 39.00 | 7.00 | 12.00 | 3.00 | 29.00 | 10.00 | 248.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 31.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 316.00 | 291.00 | 130.00 | 146.00 | 56.00 | 46.00 | 136.00 | 136.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 47.08 | 47.07 | 47.06 | 47.04 | 47.01 | 46.98 | 46.96 | 46.95 | 46.92 | 46.90 | 0.47 | 0.47 | 0.47 | 0.47 |
| Domestic institutions | 29.21 | 29.36 | 29.42 | 29.73 | 27.76 | 26.78 | 25.09 | 24.74 | 25.41 | 25.56 | 0.27 | 0.26 | 0.25 | 0.25 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 19.35 | 0.21 | 0.18 | 0.17 | 0.15 |
| Insurance companies | 11.73 | 11.84 | 12.26 | 9.70 | 9.95 | 9.41 | 7.20 | 6.41 | 6.34 | 4.64 | 0.04 | 0.06 | 0.06 | 0.07 |
| Foreign institutions | 13.32 | 13.94 | 14.99 | 16.11 | 18.28 | 19.32 | 21.50 | 22.04 | 21.46 | 21.25 | 0.20 | 0.21 | 0.22 | 0.22 |
| Government | — | — | — | — | — | — | — | — | — | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 52.92 | 52.93 | 52.94 | 52.96 | 52.99 | 53.02 | 53.04 | 53.05 | 53.08 | 53.10 | 0.53 | 0.53 | 0.53 | 0.53 |
| Non-institutional | 10.39 | 9.63 | 8.52 | 7.11 | 6.93 | 6.92 | 6.44 | 6.26 | 6.20 | 6.28 | 0.06 | 0.06 | 0.06 | 0.06 |
| Shares outstanding | 454981335 | 455080018 | 455221984 | 455326550 | 455678908 | 455915953 | 456143312 | 456234542 | 456565045 | 456716123 | 456757868 | 456798806 | 457179111 | 457232536 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Lupin Pharmaceuticals, Inc., USA | Wholly -Owned Subsidiary | Any other transaction, Investment, Purchase of goods | 68,969,070,000.00 | 25 |
| Lupin Inc., USA | Wholly -Owned Subsidiary | Any other transaction, Dividend received, Interest r | 13,362,020,000.00 | 26 |
| Lupin Manufacturing Solutions Limited, India | Wholly -Owned Subsidiary | Any other transaction, Interest received, Investment | 4,116,890,000.00 | 22 |
| Lupin Pharma Canada Limited, Canada | Wholly -Owned Subsidiary | Any other transaction, Investment, Sale of goods or | 1,821,210,000.00 | 24 |
| Nanomi B.V., Netherlands | Wholly -Owned Subsidiary | Any other transaction, Interest received, Investment | 1,780,700,000.00 | 24 |
| Lupin Investments Pvt. Limited | Entity having significant influenc | Any other transaction, Dividend paid | 1,657,590,000.00 | 2 |
| Lupin Healthcare (UK) Limited, UK | Wholly -Owned Subsidiary | Any other transaction, Interest received, Investment | 1,581,360,000.00 | 16 |
| Lupin Life Sciences Limited, India (formerly known as Lupin | Wholly -Owned Subsidiary | Any other transaction, Interest received, Investment | 1,367,590,000.00 | 13 |
| Hormosan Pharma GmbH, Germany | Wholly -Owned Subsidiary | Any other transaction, Investment, Purchase of goods | 845,450,000.00 | 15 |
| Lupin Management, Inc., USA | Wholly -Owned Subsidiary | Any other transaction, Purchase of goods or services | 691,750,000.00 | 17 |
| Lupin Atlantis Holdings SA, Switzerland | Wholly -Owned Subsidiary | Any other transaction, Investment, Purchase of goods | 670,890,000.00 | 11 |
| Lupin Diagnostics Limited, India | Wholly -Owned Subsidiary | Any other transaction, Interest received, Investment | 614,670,000.00 | 10 |
| Southern Cross Pharma Pty Ltd., Australia | Wholly -Owned Subsidiary | Any other transaction, Investment, Loan, Purchase of | 569,860,000.00 | 8 |
| Medquimica Industria Farmaceutica LTDA, Brazil | Wholly -Owned Subsidiary | Any other transaction, Interest received, Investment | 428,360,000.00 | 23 |
| Generic Health Pty Limited, Australia | Wholly -Owned Subsidiary | Any other transaction, Investment, Sale of goods or | 354,980,000.00 | 13 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-12 | Q1FY27 | Read the call | |
| 2026-05-14 | Q4FY26 | Read the call | |
| 2026-02-17 | Q3FY26 | Read the call | |
| 2025-11-12 | Q2FY26 | Read the call | |
| 2025-08-11 | Q1FY26 | Read the call | |
| 2025-02-19 | Q3FY25 | Read the call | |
| 2024-08-13 | Q1FY25 | Read the call | |
| 2024-05-14 | Q4FY24 | CORPORATE AFFAIRS, LUPIN LIMITED | Read the call |
| 2024-02-14 | Q3FY24 | CORPORATE AFFAIRS, LUPIN LIMITED | Read the call |
| 2023-11-17 | Q2FY24 | CORPORATE AFFAIRS, LUPIN LIMITED | Read the call |
| 2023-08-11 | Q1FY24 | CORPORATE AFFAIRS, LUPIN LIMITED | Read the call |
| 2023-05-16 | Q4FY23 | CORPORATE AFFAIRS, LUPIN LIMITED | Read the call |
| 2023-02-16 | Q3FY23 | CORPORATE AFFAIRS, LUPIN LIMITED | Read the call |
| 2022-11-16 | Q2FY23 | Read the call | |
| 2022-08-09 | Q1FY23 | Read the call | |
| 2022-05-25 | Q4FY22 | CORPORATE AFFAIRS, LUPIN LIMITED | Read the call |
| 2022-02-13 | Q3FY22 | CORPORATE AFFAIRS, LUPIN LIMITED | Read the call |
| 2021-11-10 | Q2FY22 | Read the call | |
| 2021-08-26 | Q1FY22 | Read the call | |
| 2021-05-25 | Q4FY21 | Read the call | |
| 2021-02-10 | Q3FY21 | Read the call | |
| 2020-11-24 | Q2FY21 | CORPORATE M&A, LUPIN LIMITED | Read the call |
| 2020-08-17 | Q1FY21 | CORPORATE M&A, LUPIN LIMITED | Read the call |
| 2020-06-09 | Q4FY20 | LIMITED | Read the call |
| 2020-02-14 | Q3FY20 | LIMITED | Read the call |
| 2019-11-15 | Q2FY20 | LIMITED, LUPIN LIMITED | Read the call |
| 2019-11-13 | Q2FY20 | FORMULATIONS BUSINESS, LUPIN LIMITED, LIMITED, LUPIN LIMITED | Read the call |
| 2019-02-13 | Q3FY19 | (CORPORATE PLANNING), LUPIN LIMITED, CHAIRMAN, LUPIN LIMITED, LIMITED, LUPIN LIMITED | Read the call |
Some earlier announcements under this heading are covering letters only — no transcript was attached.
What they said about it, quarter by quarter
| Topic | Q3FY25 | Q3FY26 | Q4FY20 | Q4FY21 | Q4FY22 | Q4FY23 | Q4FY24 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | And have you earmarked the Capex for this, Nilesh? | — | — | And second question is on the Capex front. | There's been a tight rein on overall capital expenditure. | Sir, we spent INR 1,500 crores CapEx – organic CapEx in FY '23. | — | — |
| Capital allocation | But having said that, we would be comfortable with a bite-size acquisition, USD 200 million to USD 250 million should be easy enough for us. | Other Developed markets constitute around 11% of our total sales and their share is expected to increase going ahead with the anticipated closure of t… | And if I just add to it, we took a pretty hard look at all of our different subsidiaries and determined that we wanted to divest Japan. | — | We also expanded -- we had a bolt-on acquisition in Australia, a very important one for us. | Our recent acquisition of Medisol in France enables us to accelerate our injectables franchise in Europe. | And three of those actually resided, domiciled are still in India, something which actually came out of our Anglo-French acquisition that we did in In… | This has been led by primarily higher R&D outlay, higher SG&A on account of field force for expansion, license fees on settlements, one-time acquisiti… |
| Costs | We have seen also tailwinds when it comes to input costs. | — | There could be some increases in raw material prices and this is something that's not been quantified as yet. | We are all facing input cost increases from markets like China, for example, and that's pretty much across the API industry. | And this quarter, in the commentary, there is a mention of freight and input costs, obviously, would be in materials. | And secondly, I think know Ramesh, one for you, whatever cost savings that we have done that is getting offset by some of the line items which have se… | So current quarter has of course, been influenced by the sales mix, and, of course, tailwinds on account of the input cost, and there's of course, the… | The other one is there has been some inflationary pressure because of freight and raw material given the Middle East crisis. |
| Debt and cash | — | Operating Working capital Operating Working Capital which stands at INR 7,948 crores as of 31st December against INR 6,821 crores as of 31st March’25,… | There's something to be said about the fact that the overall working capital has gone up between December and March. | I have a question on working capital of the business. | There's tremendous scope for potentially working on working capital optimization. | We've taken active measures in terms of looking at inventory control, and evidence of that is really seen in the working capital optimization measures… | ETR ETR was 26% in Q4 and 20.1% for FY24. Balance Sheet Items Operating working capital was at INR 5,691 crores as of 31 March, 24, which translates t… | Balance sheet Operating Working Capital Operating working Capital stood at INR 7,132 crores as of 31st March '26 which translates to 87 days of net wo… |
| Demand | Simultaneously, we are also building a pipeline in the respiratory front with the capabilities we have; on the R&D side, the opportunities that we hav… | We remain confident that our India formulations business will continue to outperform IPM by 1.2 - 1.3 times, supported by our strong sales force of ov… | So my first question is on your biosimilars pipeline progress. | As you might recall, COVID was around the corner and there was a surge in demand in anticipation of lockdown conditions in America last year, and it w… | With the investment that we're making both in the pipeline and as well as with building capacities, it may cost us possibly ourselves so that we can, … | Apart from India getting to double digit growth and U.S. business improvement, our API business recovered in the quarter with demand growth in our cor… | As Vinita mentioned, our strategy of focusing on complex products in our pipeline has paid handsome dividends, and more than 80% of the sales from our… | We remain confident that our India formulations business will continue to outperform IPM by 1.2 times 1.3 times, supported by a strong sales force of … |
| Guidance | Particularly first on the R&D spend, though the guidance is that it is going to increase in the fourth quarter, is there any specific projects which y… | We look forward to sharing our Q3 performance and outlook for the year ahead. | And just on the R&D spend, we had this fourth quarter with 9.1%, so any outlook for FY '21? | We expect the ETR to remain at similar levels in FY'22 and we will be continuously working to further optimize on this. | Our material products, we expect to really now in the next 12 months, the launch of Suprep into the U.S. And then later on in the fiscal year, we plan … | On an ongoing basis, we expect employee cost be around 19%. | We look forward to sharing with you our highlights for the quarter as well as the full-year and outlook for fiscal year '25. | We look forward to sharing with you our highlights for the quarter as well as the full year and the outlook for FY27. This quarter marked our 15th con… |
| Margin | It is great to see your cost optimization measures really contributing to the improved margin now, and also possibly improved margin is flowing from t… | Revenue from February 13, 2026 operations and EBITDA scaled a new high, exceeding the record performance we had delivered last quarter. | With Japan out of the revenue stream in this quarter is this EBITDA margin the new norm, 19.4% with the other income and 14% without other income? | But what's interesting and what you would have seen already, is that we have improved our EBITDA substantially by 500 basis points on YoY basis. | May 19, 2022 We are also building operating leverage in our CapEx spend, as well as on R&D. | Our team has had a sharp focus on getting our India business back to double digit growth and quarter after quarter improvement in US margins as well t… | We were very pleased that EBITDA margins improved quarter over quarter, despite higher R&D investments and Q4 seasonality impact in U.S. and India. | 7,475 crores and EBITDA growing at 68% YoY to INR 2,171 crores. |
| People | — | — | And what kind of capacity utilization we stand at? | — | There is, of course, considerable idle time because we programmed for a lot more capacity utilization and went ahead with a lot of capacity expansion … | — | — | — |
| Pricing | In case it gets announced as early as next Feb 18th Feb seems to be the date, what are the mitigation efforts in terms of do we have pricing power to … | So, the new administration has been focusing hard on the PBM’s, and the Trump Rx has gone live in the past couple of days that really nets out the pri… | I just wanted to check after the Express Script preferred supplier, will net pricing, which is a combination of the rebate to Express Scripts and the … | Vinita, ma'am, so pricing is largely stable in the market, right, for albuterol? | I mean, all of you have been close to the marketplace and the trends in the U.S. Our pricing pressure is still strong, especially on the oral solids. | Definitely when you launch products, obviously you compete against other companies, but I don't think it's that and I don't think it's going to have a… | While pricing on base business has remained relatively flat, the decline has been due to lower volumes on seasonal products and lower sales of product… | So clearly, we are monitoring it on a very granular basis and take appropriate action in terms of possible price increases as and when we think it is … |
| Revenue growth | And of course in India, we have the respiratory market growth at a muted level that is contributing to the lower growth. | Growth was driven by new products such as Tolvaptan, where we benefited from being the only generic on the market. | Hard to say, so there is a little bit off label for trichomoniasis, but obviously positive topline results and getting the label will make a material … | However, in spite of the headwinds on the growth of the company, we continued on the path of improved profitability. | So, it actually helps in leveraging our top line, a continuous improvement culture, sentient culture, if you may. | Our India business as you would have noted recorded an 11% plus growth per IQVIA, ex the diabetes portfolio growth was 15% plus, in line with the mark… | This augurs well for sustainable growth of our generic business going forward. | For the full year, our U.S business achieved sales of USD 1.3 billion, an impressive growth of almost 40% YoY. |