Lupin
Lupin Ltd valuation: P/E, P/B and sector benchmarks.
Twelve years of multiples investors have paid for Lupin Ltd, framed against the sector median so the premium or discount is obvious at a glance.
Lupin Ltd trades at a P/E of 19.70× and P/B of 4.67×.
Valuation
Profitability
Growth
Financial Health
Lupin Ltd financials: P&L, balance sheet, cash flow, ratios.
Twelve years of audited numbers for Lupin Ltd, switchable between annual and quarterly views, consolidated or standalone.
Lupin Ltd reports its full P&L, balance sheet, cash flow and ratios on this page — current market capitalisation of ₹1,04,698.59 Cr and reported EPS of ₹116.39.
| Period | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 15,560 | 16,369 | 15,375 | 15,163 | 16,405 | 16,642 | 20,011 | 22,708 | 27,958 |
| Other Income | 395 | 713 | 484 | 136 | 142 | 73 | 120 | 196 | 424 |
| Total Income | 15,955 | 17,082 | 15,859 | 15,299 | 16,547 | 16,715 | 20,131 | 22,904 | 28,382 |
| Cost of Goods Sold (COGS) | 5,274 | 5,846 | 5,431 | 5,362 | 6,481 | 6,780 | 6,643 | 6,842 | 7,326 |
| Gross Profit | 10,285 | 10,524 | 9,944 | 9,801 | 9,924 | 9,862 | 13,367 | 15,866 | 20,632 |
| +Operating Expenses | 7,382 | 7,990 | 7,589 | 7,234 | 9,637 | 8,064 | 9,557 | 10,582 | 11,816 |
| EBITDA | 2,903 | 2,533 | 2,355 | 2,567 | 287 | 1,798 | 3,811 | 5,283 | 8,816 |
| +Non-Operating Expenses | -174 | 1,057 | 581 | 1,028 | 1,801 | 1,155 | 1,508 | 1,464 | 1,252 |
| Profit Before Tax (PBT) | 543 | 1,517 | 753 | 1,675 | -1,373 | 716 | 2,422 | 4,015 | 6,873 |
| +Tax Expense | 288 | 902 | 1,157 | 449 | 137 | 269 | 487 | 709 | 1,517 |
| Profit After Tax (PAT) | 258 | 615 | -270 | 1,228 | -1,509 | 448 | 1,936 | 3,306 | 5,355 |
| Earnings Per Share (EPS) | 5.56 | 13.40 | -6.02 | 26.81 | -33.62 | 9.45 | 42.01 | 71.88 | 116.65 |
| Diluted Shares Outstanding (Nos.) | 45 | 45 | 45 | 45 | 45 | 45 | 46 | 46 | 46 |
| +Additional Disclosures | 19,370 | 20,850 | 19,313 | 19,261 | 24,524 | 22,820 | 24,411 | 25,664 | 28,742 |
| Sales Growth % | — | 5.20 | -6.08 | -1.38 | 8.19 | 1.44 | 20.25 | 13.48 | 23.12 |
| YoY Sales Growth % | — | 5.20 | -6.08 | -1.38 | 8.19 | 1.44 | 20.25 | 13.48 | 23.12 |
| Material Cost % | 19 | 22 | 21 | 21 | 20 | 22 | 21 | 20 | 17 |
| Employee Cost % | 18 | 19 | 19 | 19 | 18 | 19 | 17 | 17 | 16 |
| Other Cost % | 29 | 30 | 30 | 29 | 41 | 30 | 30 | 29 | 26 |
| OPM % | 19 | 15 | 15 | 17 | 2 | 11 | 19 | 23 | 32 |
| Tax % | 53 | 59 | 154 | 27 | -10 | 38 | 20 | 18 | 22 |
| Profit Growth % | — | 138.23 | -143.83 | 555.16 | -222.92 | 129.66 | 332.35 | 70.82 | 61.98 |
| Gross Margin % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA Margin % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Coverage Ratio | 0.00 | 0.00 | 0.00 | 0.00 | -0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Additional Fields | 1,817 | 1,448 | 1,385 | 1,679 | -1,371 | 917 | 2,614 | 4,114 | 7,441 |
Lupin segment analysis: revenue and profit mix.
Disclosed business segments at Lupin with their share of revenue and profit, switchable between consolidated and standalone reporting.
Lupin discloses revenue and profit across multiple business segments — toggle between consolidated and standalone views to see the mix.
Segment-wise Financial Analysis
Lupin Ltd investment thesis: bull case, bear case, and the flip lines.
Why someone would buy Lupin Ltd, why someone wouldn't, and the quantitative tripwires that would force the call to flip.
Lupin Ltd's investment case rests on 8 positive markers and 6 flagged concerns drawn from the latest reported filings.
What you're getting.
Lupin Ltd exhibits strong profitability, with a Return on Equity (ROE) of 20.6% and a healthy Operating Profit Margin (OPM) of 24.6%, indicating efficient operations and high returns on investment.
The company shows impressive quarterly profit growth, with a 52.1% increase. This positive trend suggests strong demand for its products and effective management strategies.
The relatively low debt-to-equity ratio of 0.32 suggests manageable financial leverage, providing financial stability and flexibility for future growth initiatives.
Despite recent stock price volatility, Lupin's market capitalization remains substantial at ₹89426 crore, reflecting a significant presence in the pharmaceutical industry.
Increasing institutional investor confidence is evident, with FII holdings rising from 13.32% (Mar 2023) to 20.50% (Sept 2025), signaling positive sentiment and potential for further investment.
What can break it.
Lupin's stock price has shown recent volatility, with a 52-week high of ₹2403 and a low of ₹1774, indicating potential market risk and requiring close monitoring.
The company's total debt stands at ₹5448 crore. While the debt-to-equity ratio is low, this absolute debt figure could pose a risk if not managed effectively.
Despite a positive trend in quarterly profits, the sustainability of the ₹3699 crore net profit needs analysis in the context of overall market conditions and industry trends.
Intense competition from larger peers like Sun Pharma (Market Cap ₹412445 Cr) and Cipla (Market Cap ₹127764 Cr) could pressure Lupin's market share and pricing power.
Lupin faces competitive pressure from peers with higher ROCE, such as Torrent Pharma (27.05%) and Zydus Lifesci (24.31%), potentially impacting its relative market position and profitability.
What would change my mind.
Trim if P/E re-rates above 26. The valuation cushion thins from there.
Reassess if quarterly profit growth prints below 0% for two consecutive quarters. The bull case relies on compounding earnings.
Watch interest coverage if debt-to-equity climbs above 29.89. Balance sheet risk re-prices growth multiples fast.
Exit if ROE slips below 22%. The operating engine is no longer compounding capital efficiently.
Lupin Ltd peer comparison — same-sector benchmarks.
Same-sector listed peers ranked on P/E, market cap, dividend yield and growth — Lupin Ltd is highlighted for quick read-across.
Quick Compare
Peer Comparison
Lupin Ltd technical analysis: indicators, pivots and CPR.
Live RSI, MACD and moving-average signals plus today's pivot and Central Pivot Range levels for Lupin Ltd — derived from the live tape, not yesterday's close.
Lupin Ltd last traded at ₹2,293.3 with an intraday range of ₹2,269.5–₹2,297.1 — live indicator, pivot and CPR signals below.
Pivot points
Standard pivot — most widely referenced.
Pivot levels · Classic
Live: ₹2293.30| Level | Price (₹) | Distance | % Δ |
|---|---|---|---|
| R4 | 2358.97 | +65.67 | +2.86% |
| R3 | 2331.37 | +38.07 | +1.66% |
| R2 | 2314.23 | +20.93 | +0.91% |
| R1 | 2303.77 | +10.47 | +0.46% |
| PIVOT | 2286.63 | -6.67 | -0.29% |
| CURRENT | 2293.30 | — | — |
| S1 | 2220.97 | -72.33 | -3.15% |
| S2 | 2248.57 | -44.73 | -1.95% |
| S3 | 2259.03 | -34.27 | -1.49% |
| S4 | 2276.17 | -17.13 | -0.75% |
LUPIN is trading Above CPR, indicating Bullishness
CPR is Average
Day's range: 2276.1 ~ 2286
Trading Above opening range, showing Bullishness
Lupin Ltd delivery volume — last 20 sessions of conviction.
Daily traded volume and delivery percentage for Lupin Ltd over 20 sessions — the gap between intraday flipping and genuine accumulation.
Latest session delivery in Lupin Ltd stood at 57.6% of traded volume, against a 20-day average of 55.6%.
Lupin announcements: results, concalls, ratings, M&A.
Filings Lupin sent to the exchanges, sequenced as they hit the tape — concall transcripts, results, credit ratings and presentations.
Lupin files concall transcripts, results, credit ratings and corporate-action notices on the NSE and BSE exchange portals — latest 264 documents below.
Press Release
Lupin Limited has informed the Exchange regarding a press release dated Jun 03, 2026, titled "Lupin and Natco Receive Approval from U.S. FDA for…
General Updates
Lupin Limited has informed the Exchange about update on acquisition of minority shareholding in Multicare Pharmaceuticals Philippines, Inc.
Press Release
Lupin Limited has informed the Exchange regarding a press release dated May 28, 2026, titled "Lupin Shares Phase 1 Data on LNP8701 at the ASCO Annual…
Press Release
Lupin Limited has informed the Exchange regarding a press release dated May 28, 2026, titled "Lupin s Ankleshwar Facility Receives EIR from U.S. FDA".
Press Release
Lupin Limited has informed the Exchange regarding a press release dated May 22, 2026, titled "Lupin Receives China Approval for Oseltamivir Phosphate…
Investor decks & rating reports.
Analysts/Institutional Investor Meet/Con. Call Updates
Investor Presentation
Press Release
Investor Presentation
Lupin dividend history, splits and bonus issues.
Every dividend, stock split and bonus issue Lupin has declared, sequenced by announce and record date.
Lupin corporate-action history below covers all declared dividends, stock splits and bonus issues recorded with NSE and BSE.
About Lupin Ltd: business, sector, key facts.
What Lupin Ltd does, where it operates, the people running it, and the numbers that describe the entity behind the ticker.
Lupin Ltd operates in the Healthcare, listed as NSE: LUPIN, BSE: 500257.
Lupin Limited is a multinational pharmaceutical company headquartered in Mumbai, India, with a global presence. Established in 1968 (formerly Lupin Chemicals Limited), the company's core business involves the entire pharmaceutical value chain, from drug discovery and development to manufacturing, marketing, and sales.
Lupin's product portfolio is extensive and diverse, encompassing branded and generic formulations, biosimilars, over-the-counter medications, and specialty drugs. A significant portion of their business centers around the production and supply of Active Pharmaceutical Ingredients (APIs), the fundamental building blocks of many pharmaceutical products. This vertical integration allows for greater control over quality and cost.
The company caters to a wide range of therapeutic areas, reflecting a commitment to addressing diverse health needs. These areas include, but are not limited to, anti-tuberculosis treatments, diabetes management, cardiovascular health, respiratory diseases (COPD and asthma), women's health, central nervous system disorders, oncology, immunology, metabolic disorders, dermatology, urology, pediatrics, gastrointestinal health, anti-infective therapies, and nonsteroidal anti-inflammatory drugs. This broad therapeutic focus positions Lupin as a significant player in the global pharmaceutical market.
Beyond its core manufacturing and distribution activities, Lupin is also engaged in bio-clinical research. This commitment to research and development underpins their ability to innovate and bring new and improved treatments to market. Furthermore, the company's operational network includes laboratories, collection centers (LupiMitra), and pickup points, suggesting a robust infrastructure designed to support its extensive operations and reach a wide patient base.
Questions investors ask about Lupin Ltd (LUPIN).
Quick answers grounded in this page's data — price action, fundamentals, ratios and ownership.
01What is the current share price of Lupin Ltd (LUPIN)?
The current share price of Lupin Ltd (LUPIN) is ₹2,293.3. Today, the stock has gained by ₹20.00 (0.88%), trading in a range of ₹2,269.5 to ₹2,297.1. The stock opened at ₹2,282 with a trading volume of 6,13,853 shares.
02Is Lupin Ltd stock a good investment for long-term?
Lupin Ltd can be considered for long-term investment based on several factors. The company has a market capitalization of ₹1,04,698.59 crores, P/E ratio of 19.70, ROE of 26.91%, and ROCE of 21.30%. The dividend yield stands at 0.53%. However, investment decisions should be based on your financial goals, risk appetite, and thorough research. It's recommended to consult with a SEBI-registered financial advisor before making investment decisions.
03What is the 52-week high and low price of Lupin Ltd stock?
The 52-week high price of Lupin Ltd (LUPIN) is ₹0, while the 52-week low is ₹0. Currently trading at ₹2,293.3, the stock is Infinity% away from its 52-week low and -Infinity% below its 52-week high. These levels help investors understand the stock's price volatility and trading range over the past year.
04Should I buy Lupin Ltd stock at the current price?
Whether to buy Lupin Ltd stock at ₹2,293.3 depends on multiple factors. The stock is currently trading with a P/E ratio of 19.70 and P/B ratio of 4.67. Today's performance shows a gain of 0.88%. Consider analyzing the company's fundamentals, technical indicators, industry trends, and your investment horizon. Compare these metrics with industry peers and consult a financial advisor for personalized advice.
05What is the dividend yield of Lupin Ltd and when is the next dividend?
Lupin Ltd offers a dividend yield of 0.53%, which means for every ₹100 invested at the current price of ₹2,293.3, you can expect to receive approximately ₹0.53 annually as dividends. The face value of the stock is ₹2.00. For information about the next dividend announcement and ex-dividend date, please check the company's official announcements or visit the BSE/NSE websites.
06What are the key financial ratios and metrics of Lupin Ltd?
Lupin Ltd's key financial metrics include: P/E Ratio: 19.70, P/B Ratio: 4.67, ROE: 26.91%, ROCE: 21.30%, Dividend Yield: 0.53%, EPS: ₹116.39, Book Value: ₹491.29, and Debt-to-Equity: 29.39. The company's market cap stands at ₹1,04,698.59 crores. These metrics help evaluate the company's valuation, profitability, and financial health.
07How is Lupin Ltd stock performing today in the market?
Lupin Ltd stock opened at ₹2,282 and is currently trading at ₹2,293.3, showing a gain of ₹20.00 (0.88%). The intraday high is ₹2,297.1 and low is ₹2,269.5. The trading volume stands at 6,13,853 shares, indicating moderate market participation today.
08What is the P/E ratio of Lupin Ltd and what does it indicate?
Lupin Ltd has a Price-to-Earnings (P/E) ratio of 19.70, which means investors are willing to pay ₹19.70 for every ₹1 of earnings. With an EPS of ₹116.39, this P/E ratio indicates moderate valuation in line with market standards. Compare this with industry peers and historical P/E ratios for better context.
The data, ratios and commentary about Lupin Ltd (LUPIN) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.
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