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Lincoln Pharmaceuticals Q2 FY27 results: net profit up 2.3% to ₹20.43 crore, revenue up 17.1%
Lincoln Pharmaceuticals Limited reported consolidated revenue of ₹191.35 crore for Q2 FY27, up 17.1% from ₹163.36 crore in Q2 FY26, while net profit rose 2.3% to ₹20.43 crore. EBITDA fell 6.8% to ₹23.69 crore and its margin declined to 12.4% from 15.6%; basic EPS was ₹10.20.
Key points
- Consolidated revenue was ₹191.35 crore in Q2 FY27, up ₹27.99 crore or 17.1% from Q2 FY26.
- EBITDA was ₹23.69 crore, down ₹1.74 crore or 6.8% from Q2 FY26, while EBITDA margin fell 3.2 percentage points to 12.4%.
- Net profit was ₹20.43 crore, up ₹0.45 crore or 2.3% from Q2 FY26, and basic EPS was ₹10.20.
- Against Q1 FY27, revenue rose ₹14.07 crore or 7.9%, but net profit fell ₹15.80 crore or 43.6%.
- For H1 FY27, revenue was ₹368.63 crore, total income was ₹402.43 crore, net profit was ₹56.66 crore and basic EPS was ₹28.29.
How did Lincoln Pharmaceuticals perform in Q2 FY27?
Lincoln Pharmaceuticals reported consolidated revenue of ₹191.35 crore in Q2 FY27, up ₹27.99 crore or 17.1% from ₹163.36 crore in Q2 FY26. EBITDA was ₹23.69 crore, down ₹1.74 crore or 6.8%, and EBITDA margin declined 3.2 percentage points to 12.4% from 15.6%.
Profit before tax was ₹29.02 crore, up ₹0.21 crore or 0.7% from ₹28.81 crore in Q2 FY26. Net profit was ₹20.43 crore, up ₹0.45 crore or 2.3%, while basic EPS rose to ₹10.20 from ₹9.98. The filing states that the results were presented on both a consolidated and standalone basis.
Against Q1 FY27, revenue rose ₹14.07 crore or 7.9% to ₹191.35 crore. EBITDA fell ₹3.74 crore or 13.6% to ₹23.69 crore, EBITDA margin declined 3.1 percentage points to 12.4%, net profit fell ₹15.80 crore or 43.6% to ₹20.43 crore, and basic EPS fell ₹7.89 to ₹10.20.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 191.35 | 177.28 | 163.36 | +17.1% | +7.9% |
| Other income | 9.53 | 24.26 | 7.23 | +31.8% | −60.7% |
| Total expenses | 171.86 | 153.99 | 141.79 | +21.2% | +11.6% |
| EBITDA | 23.69 | 27.43 | 25.43 | −6.8% | −13.6% |
| EBITDA margin | 12.4% | 15.5% | 15.6% | −3.2 pp | −3.1 pp |
| Profit before tax | 29.02 | 47.55 | 28.81 | +0.7% | −39.0% |
| Tax | 8.59 | 11.32 | 8.83 | −2.7% | −24.1% |
| Net profit | 20.43 | 36.23 | 19.98 | +2.3% | −43.6% |
| EPS (₹) | 10.20 | 18.09 | 9.98 | +2.2% | −43.6% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Lincoln Pharmaceuticals' costs and profit?
Total expenses rose ₹30.07 crore or 21.2% from Q2 FY26 to ₹171.86 crore, ahead of the increase in revenue. Cost of materials was higher by ₹20.27 crore or 35.4% at ₹77.47 crore, other expenses rose ₹7.64 crore or 24.8% to ₹38.47 crore, employee cost increased ₹0.93 crore or 3.1% to ₹31.29 crore, and depreciation rose ₹0.26 crore or 7.2% to ₹3.88 crore.
Finance costs increased ₹0.09 crore or 39.1% from ₹0.23 crore in Q2 FY26 to ₹0.32 crore. Other income rose ₹2.30 crore or 31.8% to ₹9.53 crore, while tax expense fell ₹0.24 crore or 2.7% to ₹8.59 crore. There was no exceptional item in either quarter.
Against Q1 FY27, total expenses rose ₹17.87 crore or 11.6%, mainly reflecting higher cost of materials and other expenses. Cost of materials increased ₹18.89 crore or 32.2% and other expenses rose ₹7.07 crore or 22.5%, while employee cost fell ₹2.02 crore or 6.1% and tax fell ₹2.73 crore or 24.1%. Other income was lower by ₹14.73 crore or 60.7%.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 77.47 | 57.20 | +20.27 | +35.4% |
| Employee cost | 31.29 | 30.36 | +0.93 | +3.1% |
| Finance costs | 0.32 | 0.23 | +0.09 | +39.1% |
| Depreciation | 3.88 | 3.62 | +0.26 | +7.2% |
| Other expenses | 38.47 | 30.83 | +7.64 | +24.8% |
| Total expenses | 171.86 | 141.79 | +30.07 | +21.2% |
| Other income | 9.53 | 7.23 | +2.30 | +31.8% |
| Tax | 8.59 | 8.83 | −0.24 | −2.7% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, Lincoln Pharmaceuticals reported revenue of ₹368.63 crore, up ₹51.20 crore or 16.1% from ₹317.43 crore in H1 FY26. Total income rose ₹62.50 crore or 18.4% to ₹402.43 crore, while profit before tax increased ₹12.37 crore or 19.3% to ₹76.57 crore.
Net profit for the first half was ₹56.66 crore, up ₹9.00 crore or 18.9% from ₹47.66 crore in H1 FY26. Basic EPS rose ₹4.50 to ₹28.29 from ₹23.79. The board approved the unaudited results for the quarter and half year ended on 30 September 2026, and the auditors carried out a limited review.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 368.63 | 317.43 | +16.1% |
| Profit before tax | 76.57 | 64.20 | +19.3% |
| Net profit | 56.66 | 47.66 | +18.9% |
| EPS (₹) | 28.29 | 23.79 | +18.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets increased to ₹964.20 crore at 30 September 2026 from ₹890.40 crore at 31 March 2026. Total equity rose to ₹811.52 crore from ₹757.63 crore, while borrowings fell to ₹3.42 crore from ₹4.42 crore and cash declined to ₹21.29 crore from ₹21.53 crore. Inventories were ₹81.67 crore, trade receivables ₹164.45 crore and trade payables ₹95.50 crore.
Operating cash flow for H1 FY27 was ₹37.20 crore, compared with ₹49.76 crore in H1 FY26. Investing cash flow was negative ₹35.54 crore against negative ₹42.21 crore, while financing cash flow was negative ₹1.90 crore against negative ₹0.69 crore. Capital expenditure was ₹38.41 crore in H1 FY27, up from ₹10.76 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 964.20 | 890.40 |
| Total equity | 811.52 | 757.63 |
| Borrowings | 3.42 | 4.42 |
| Cash and equivalents | 21.29 | 21.53 |
| Inventories | 81.67 | 80.11 |
| Trade receivables | 164.45 | 161.45 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 37.20 | 49.76 |
| Cash from investing | −35.54 | −42.21 |
| Cash from financing | −1.90 | −0.69 |
| Capital expenditure | 38.41 | 10.76 |
Source: Company's results filing (XBRL).
How has Lincoln Pharmaceuticals done over the last 8 quarters?
Revenue increased year on year in each of the last eight quarters, reaching its highest level in the series at ₹191.35 crore in Q2 FY27. The previous high was ₹187.28 crore in Q4 FY26, while the low was ₹146.55 crore in Q3 FY25. Q1 FY27 revenue was ₹177.28 crore before rising in the latest quarter.
Net profit reached its high of ₹36.23 crore in Q1 FY27 and its low of ₹11.57 crore in Q4 FY25, before declining to ₹20.43 crore in Q2 FY27. EBITDA margin peaked at 16.1% in Q3 FY25 and fell to its low of 12.4% in Q2 FY27. Profit rose year on year in each of the last four quarters.
How did Lincoln Pharmaceuticals shares react?
After the filing appeared in the market, the stock fell 6.4% within five minutes, 6.2% within 15 minutes and 5.0% within 30 minutes from the price at which the results appeared. On the reaction day, it fell 9.0% from the previous close of ₹558.05, compared with a 0.4% median rise for other Pharmaceuticals stocks.
By the next day’s close, the stock was down 10.8% from its pre-results close, compared with a 0.6% median fall for the industry and a 1.9% fall for the Nifty Microcap 250. The stock’s move was 10.1 percentage points below the industry median on that basis.
Earlier reaction-day moves were mixed: the stock rose 5.0% on 13 August 2026 and 13.8% on 12 February 2026, but fell 17.4% on 28 May 2026. It also rose 9.1% on 7 August 2025 and fell 9.7% on 22 May 2025.
| After the filing | Stock | Pharmaceuticals median |
|---|---|---|
| 5 minutes | −6.4% | |
| 15 minutes | −6.2% | |
| 30 minutes | −5.0% | |
| Reaction day | −9.0% | +0.4% |
| Next day | −10.8% | −0.6% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 13 August 2026 | +5.0% |
| 28 May 2026 | −17.4% |
| 12 February 2026 | +13.8% |
| 13 November 2025 | −4.3% |
| 7 August 2025 | +9.1% |
| 22 May 2025 | −9.7% |
| 13 February 2025 | −2.6% |
| 14 November 2024 | −1.4% |
Source: MarketPing price-reaction measurement.
How did other Pharmaceuticals companies do?
Among 60 Pharmaceuticals companies compared, the median revenue growth was 19.8% as of 4 November 2026. Lincoln Pharmaceuticals’ 17.1% revenue growth was below the peer median, with 25 peers growing slower than the company and 34 peers growing faster than the company.
Of the 54 peers for which profit was compared, 38 reported higher profit. The peer figures cover other Pharmaceuticals companies that had filed for the quarter and do not include Lincoln Pharmaceuticals.
| Lincoln Pharmaceuticals revenue growth (YoY) | +17.1% |
|---|---|
| Median of 60 other Pharmaceuticals companies | +19.8% |
| Companies with slower revenue growth than Lincoln Pharmaceuticals | 25 of 60 |
| Companies with faster revenue growth than Lincoln Pharmaceuticals | 34 of 60 |
| Companies whose net profit rose | 38 of 54 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Lincoln Pharmaceuticals' revenue in Q2 FY27?
Revenue from operations was ₹191.35 crore, up 17.1% from ₹163.36 crore in Q2 FY26 (consolidated).
Did Lincoln Pharmaceuticals make a profit in Q2 FY27?
Yes. Net profit was ₹20.43 crore, against a net profit of ₹19.98 crore in Q2 FY26.
What was Lincoln Pharmaceuticals' EPS in Q2 FY27?
Basic earnings per share were ₹10.20, against ₹9.98 in Q2 FY26.
How did Lincoln Pharmaceuticals shares react to the Q2 FY27 results?
On the reaction day the stock moved −9.0% from the previous close; the median Pharmaceuticals stock moved +0.4%.
When did Lincoln Pharmaceuticals announce its Q2 FY27 results?
On 29 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Considering And Approving The Standalone And Consolidated Unaudited Financial Results Of The Company For The Quarter And Half Year Ended 30.09.2026. (BSE, 22 October 2026) · PDF
- Board Meeting Outcome for Board Meeting Outcome For Un-Audited Financial Results For The Quarter And Half Year Ended On September 30, 2026. (BSE, 29 October 2026) · PDF
- Un-Audited Financial Results For The Quarter And Half Year Ended On September 30, 2026. (BSE, 29 October 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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