Develops, manufactures and sells generic pharmaceutical formulations and active pharmaceutical ingredients, with operations spanning the United States, India and emerging markets. Pharmaceuticals accounted for 99.5% of FY26 segment revenue at ₹27,812.36 crore, with the remaining 0.5% from 'Others' which posted a small operating loss. The US franchise grew around 40% year-on-year on the back of products such as Tolvaptan, Mirabegron and Risperdal Consta; the India prescription business grew 14.5% year-on-year at 1.3x IPM and emerging markets grew 49% in Q4 FY26 led by Brazil (113% in local currency). Semaglutide was launched in India under the brand Semanext, the VISUfarma acquisition added an ophthalmology franchise, and the biosimilar franchise is currently around USD 50 million. The principal cost lines are other operating expenses at 25.9% of revenue and raw materials (mainly APIs) at 16.5%, with R&D running at around 8% of sales. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Pharmaceuticals (100%), Others (1%). Global generic pharmaceuticals — multi-geography, R&D-intensive at ~8% of sales, driven by product launches in regulated markets.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 16,405 | 16,642 | 20,011 | 22,708 | 27,958 |
| EBITDA (ex other income) | 287 | 1,798 | 3,811 | 5,283 | 8,258 |
| margin % | 1.8 | 10.8 | 19.0 | 23.3 | 29.5 |
| Owners' profit | (1,528) | 430 | 1,914 | 3,282 | 5,333 |
| EPS, as reported (₹) | (33.65) | 9.46 | 42.05 | 71.95 | 116.75 |
| ROE % · ROCE % | (12.3) · (9.1) | 3.6 · 7.2 | 13.5 · 17.6 | 19.1 · 21.3 | 23.8 · 28.4 |
| Debt / equity (x) | 0.31 | 0.34 | 0.19 | 0.29 | 0.26 |
| Cash from operations | 1,082 | 1,934 | 3,490 | 430 | 7,546 |
| Capex | (905) | (1,500) | (929) | (1,682) | (2,055) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5,673 | 5,768 | 5,667 | 6,268 | 7,048 | 7,168 | 7,475 | 8,277 |
| Profit before tax | 1,055 | 1,071 | 896 | 1,416 | 2,007 | 1,522 | 1,928 | 2,017 |
| Net profit | 859 | 859 | 782 | 1,221 | 1,485 | 1,181 | 1,469 | 1,417 |
| EPS (₹) | 18.70 | 18.75 | 16.93 | 26.70 | 32.36 | 25.74 | 31.96 | 30.95 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Pharmaceuticals | 27,812 | 99.5 |
| Others | 147 | 0.5 |
| Total, before eliminations | 27,960 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SUN PHARMACEUTICAL IND L | 4,41,471 | 36.5 | 5.26 | 23.7 | 13.7 | 17.5 | 11.8 | 32.3 |
| DIVI S LABORATORIES LTD |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · Lupin to attend Kotak and J.P. Morgan healthcare conferences in September | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Lupin gets U.S. FDA approval for Modafinil Tablets USP | business updates | high | — | — |
| 28 Aug 2026 · Lupin gets Crisil ESG rating of 69, placed in Strong category for FY26 | business updates | medium | — | — |
| 25 Aug 2026 · Lupin allots 30,967 shares under ESOP | capital market events | low | — | — |
| 24 Aug 2026 · Lupin receives ESG rating of 60, placed in Adequate category | business updates | low | — | — |
| 20 Aug 2026 · Lupin subsidiary signs exclusive license for YUVEZZI eye drop in Europe | strategic transactions | high | — | — |
| 18 Aug 2026 · Lupin senior management personnel Dr. Sofia Mumtaz passes away | management changes | high | — | — |
| 17 Aug 2026 · Lupin gets US FDA approval for Pitolisant Tablets generic | business updates | high | — | — |
| 12 Aug 2026 · Lupin Q1 FY27: record revenue and EBITDA; guides margins lower on US competition | investor communications | medium | — | — |
| 10 Aug 2026 · Lupin gets US FDA approval for Sodium Zirconium Cyclosilicate oral suspension | business updates | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 2,47,033 |
| 84.6 |
| 14.74 |
| 63.7 |
| 15.3 |
| 18.8 |
| 8.7 |
| 42.8 |
| TORRENT PHARMACEUTICALS L | 1,68,062 | 79.3 | 9.56 | 41.5 | 12.2 | 8.0 | 11.8 | 33.1 |
| ZYDUS LIFESCIENCES LTD | 1,11,686 | 24.9 | 3.78 | 14.5 | 17.3 | 18.0 | 12.4 | 25.2 |
| CIPLA LTD | 1,10,352 | 32.7 | 3.20 | 16.9 | 11.2 | 14.7 | 8.0 | 19.7 |
| LAURUS LABS LIMITED | 1,06,375 | 97.2 | 19.59 | 59.3 | 16.4 | 17.2 | 7.2 | 32.0 |
| DR. REDDY S LABORATORIES | 97,319 | 30.1 | 2.55 | 13.1 | 10.9 | 13.0 | 12.1 | 15.0 |
| AUROBINDO PHARMA LTD | 96,656 | 26.3 | 2.55 | 13.4 | 9.2 | 12.6 | 6.3 | 23.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 17.3 | 28.9 | 48 of 169 | 72% |
| P/B | 4.3 | 3.3 | 102 of 163 | 38% |
| ROCE | 26.7 | 10.8 | 13 of 183 | 93% |
| ROE | 23.8 | 10.4 | 15 of 171 | 92% |
| Debt / Equity | 0.3 | 0.1 | 112 of 171 | 35% |
| EBITDA margin | 31.2 | 17.5 | 31 of 165 | 82% |
| Revenue growth | 32.0 | 16.3 | 43 of 161 | 74% |
| Profit growth | 16.0 | 30.9 | 90 of 158 | 43% |
| Market cap | 95794 | 839 | 9 of 182 | 96% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
