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Lupin
SectorHealthcare
Lupin is a global pharmaceutical company producing branded and generic formulations, biotechnology products, and active pharmaceutical ingredients. Founded in 1983, it operates in over 100 markets, specializing in cardiovascular, diabetology, asthma, pediatric, central nervous system, gastrointestinal, anti-infective, and NSAID therapies. Lupin is a leader in anti-TB and cephalosporins segments. The company has expanded through acquisitions and partnerships, entering markets in Japan, Germany, Australia, South Africa, and the Philippines. Lupin has manufacturing facilities in various locations and has received FDA approvals for multiple generic drugs. The company has also launched innovative products and entered strategic alliances with other pharmaceutical companies for drug development and marketing.
In the news
Lupin launches world's first triple-combination COPD inhaler in India
Lupin receives USFDA tentative approval for Apixaban oral suspension
Lupin shares fall 0.7% after HSBC cuts price target by 10%
Lupin targets $500mn biosimilars revenue, Nomura reaffirms ₹2,675 target
Four stocks in focus after ₹900+ crore order wins & USFDA approval
Corporate Moves: From Steel to Strategy, September's Big Bets
Lupin shares recover from 6-month low after Citi downgrade
Lupin wins patent infringement case against Vertex for Kalydeco
Lupin partners Tenpoint for €75M YUVEZZI ophthalmic therapy in EU
Lupin shares in focus after USFDA approval for Pitolisant Tablets
Lupin faces mixed ratings: Motilal Oswal Neutral, ICICI Securities Reduce
Lupin gets USFDA approval for Sodium Zirconium Cyclosilicate
Lupin's Q1 FY2027: Margin Magic Behind ₹8,217 Crore Revenue Surge
Lupin Q1 profit jumps 16% to ₹1,417 cr, shares hit 7-week low
Lupin launches Sugammadex Injection in US market
Lupin launches Sugammadex Injection after USFDA approval
Lupin spins off oncology programs to Kaveri Therapeutics for $1.6M stake
US recalls 2.5M India-made eye drops over contamination
Banking Q1 Results: Strong Credit Growth Drives Private Sector Surge
Lupin gets EMA approval for pediatric NaMuscla dosage expansion
The Quarter story
The two most recent quarterly results, compared side-by-side.
Lupin delivers strong top-line and margin growth driven by US and India recovery, though net income margins face slight pressure.
Consolidated net sales grew from ₹61,638 Cr in Q1 FY26 to ₹82,172 Cr in Q1 FY27, showing consistent top-line expansion.
Net income margin fell from 19.8% in Q1 FY26 to 17.2% in Q1 FY27, indicating pressure on bottom-line profitability.
EBITDA margin expanded from 26.6% in Q1 FY26 to 30.0% in Q1 FY27, reflecting strong operational efficiency.
API revenue mix contracted from 4% in Q1 FY26 to 3% in Q1 FY27, showing a shrinking contribution from the segment.
US revenue surged from ₹24,041 Cr in Q1 FY26 to ₹34,348 Cr in Q1 FY27, driven by sustained demand in the American market.
India revenue mix dropped from 34% in Q1 FY26 to 29% in Q1 FY27, reflecting relative share dilution amid global growth.
India sales rebounded from ₹19,082 Cr in Q4 FY26 to ₹23,796 Cr in Q1 FY27, signaling a strong domestic recovery.
Other operating income declined from ₹1,045 Cr in Q1 FY26 to ₹597 Cr in Q1 FY27, highlighting volatile non-core earnings.
R&D spending climbed from ₹4,844 Cr in Q1 FY26 to ₹6,077 Cr in Q1 FY27, supporting ongoing innovation efforts.
APAC sales fluctuated and settled at ₹3,142 Cr in Q1 FY27, down slightly from ₹3,158 Cr in Q1 FY26, showing uneven regional performance.
Company insights, generated from the most recent coverage.
Guidance that quarterly EBITDA margins could dip below 20% breaks with the stated ~25% target, capping earnings visibility and re-rating potential.
Management flagged a US revenue step-down from Q2 FY27 as Apotex and Teva enter Tolvaptan — a key product — so near-term top-line growth is at risk.
Diagnostics, Digital, OTC and CDMO remain loss-making; only Diagnostics is guided to break even next year, so new bets still dilute profitability.