Lupin logo

Lupin share price

NSE: LUPINBSE: 500257Pharmaceuticals & BiotechnologyMid Cap

Lupin Limited · Face value ₹2 · Listed Oct 1993 on BSE, Sep 2001 on NSE
Last close ₹1,989.90up ₹17.20 (0.87%)BSE ₹1,998.00

Share price at the NSE close on 29 Oct 2026. Previous close ₹1,972.70.

29 Oct: open ₹1,977.40, high ₹1,999.60, low ₹1,962.30

52-week range of traded prices to 29 Oct 2026
₹1,892.90Low, 23 Oct 2026₹2,529.50High, 16 Jul 2026
Market cap
₹90,996 Cr105th largest listed
P/E
16.46
P/E without one-offs
14.95
P/B
4.05
Dividend yield
0.90%
ROE
27.9%
ROE without one-offs
30.7%
ROCE
28.2%
Debt to equity
0.26
Volume, NSE
7,81,45154.5% delivered

Lupin share price chart

Daily closes since Jan 2007, adjusted for splits and bonuses

+1.7%over a year · Nifty Pharma +19.1% · Nifty 500 −8.4%

Results20-session average 6,79,394 shares a day, 57.9% delivered

About Lupin

Lupin Limited is a pharmaceutical company headquartered in Mumbai that makes branded and generic medicines, including complex generics (hard-to-make copies such as inhalers and injectables), biosimilars (close copies of biological medicines) and active pharmaceutical ingredients (a medicine's working substances).12 It sells in India, the United States, other developed markets and emerging markets, reaching patients through wholesalers, distributors and pharmacies and supplying hospitals and government health agencies.13

It serves patients in more than 100 countries and had 33 subsidiaries and a joint venture at the end of March 2026.45 In markets such as India, it has also expanded into diagnostics, digital health, neurorehabilitation and consumer healthcare.6 Its subsidiary Lupin Manufacturing Solutions, set up in 2023, develops and makes active ingredients for other drug companies under contract.7

The company was founded by Desh Bandhu Gupta and incorporated in 1983.48 On 1 Apr 2026 its Dutch subsidiary Nanomi completed the acquisition of VISUfarma, adding more than 60 branded eye-care products and a commercial presence in Italy, the United Kingdom, Spain, Germany and France.59 Manju D. Gupta chairs the board, Vinita Gupta is chief executive officer and Nilesh D. Gupta is managing director.10

Lupin key points

Results

  • In the quarter to Jun 2026, revenue rose 32% to ₹8,277 crore and EBITDA (earnings before interest, tax, depreciation and amortisation) excluding foreign exchange and other income rose 50% to ₹2,464 crore, revenue above ₹8,000 crore and EBITDA above ₹2,400 crore for the first time.1112
  • Lupin's net income after the minority shareholders' share was ₹14,150 million in the quarter to Jun 2026, up 16%, and its EBITDA margin excluding foreign exchange and other income was 30%, against 26.6%.1314
  • In the year to Mar 2026, consolidated revenue from operations rose 23.1% to ₹279,580 million and reported EBITDA rose 68.6% to ₹92,405 million, a margin of 33.6% against 24.7%.1516
  • Lupin's consolidated profit after tax in the year to Mar 2026 was ₹53,555 million, against ₹33,063 million, and its return on capital employed (operating profit as a share of the money invested in the business) was 28.4%, against 21.6%.17

Market position

  • Rank by the measure the company states18
    ItemMar 2026, May 2026 and Jun 2026
    United States, by prescriptions in the quarter to Jun 20263rd
    Indian pharmaceutical market, by sales in the year to Jun 20268th
    Australian generics, by sales in the year to Mar 20264th
    South African generics, by sales in May 20267th
  • Its share of India's anti-tuberculosis medicine market rose to 64.1% in the year to Mar 2026, from 61.3% a year earlier.19

Where revenue comes from

  • Share of sales by market2021
    Itemquarter to Jun 2026
    United States42%
    India29%
    Other developed markets (Canada, Australia, Europe and others)14%
    Emerging markets (Latin America, South Africa, Philippines and others)12%
    Active pharmaceutical ingredients3%

Plants and capacity

  • It has 15 manufacturing facilities across Asia, Europe and the Americas, which made 22,538 million formulation units (finished medicine units) and 3,372 tonnes of active ingredients in the year to Mar 2026.22
  • Capital spending was about ₹25,231 million in the year to Mar 2026, on manufacturing reliability, injectable and inhalation platforms, digital systems and compliance.23

Research and development

  • R&D spending was ₹608 crore in the quarter to Jun 2026, 7.4% of sales, against ₹498 crore and 8.1% a year earlier; its R&D team numbers more than 1,400 people.2425
  • For the United States it has 50 first-to-file applications (first generic filings against a drug, which can earn sole generic sales for a time), 21 of them exclusive, and more than 45 injectable and 20 inhalation products in development.26
  • Its first U.S. biosimilar, Armlupeg, was approved in the year to Mar 2026, and its ranibizumab biosimilar, Ranluspec, in the quarter to Jun 2026.2728

What the company expects

  • On its earnings call of 7 Aug 2026, the company said it expects high single-digit revenue growth in the year to Mar 2027, with an EBITDA margin of around 25%; its finance chief later put the margin at 24% to 25%.2930
  • On its earnings call of 7 Aug 2026, the company said it expects U.S. sales of $1.1 billion to $1.2 billion in the year to Mar 2027, as more rivals sell mirabegron and tolvaptan, and a return to U.S. growth the year after.31
  • On its earnings call of 7 Aug 2026, the company said it expects to launch more than 50 U.S. products in the next 3 years, including 10 exclusive first-to-file products and 5 biosimilars.32
  • The company said it expects its India formulations business to grow 1.2 to 1.3 times as fast as the Indian pharmaceutical market, and medicines for long-term conditions, about 67% of its India portfolio, to reach 70% within 5 years.3334

Recent events

  • On 1 Oct 2026, Multicare Pharmaceuticals Philippines became wholly owned after buying back its last 30,559 minority shares; the holding of its subsidiary Nanomi had risen from 56.28% to 99.89% on 1 Jul 2026.3536
  • On 28 Sep 2026, the company announced U.S. FDA tentative approval (cleared, but not yet free to sell) for its apixaban oral suspension, a liquid form of the blood thinner in Eliquis, to be made at Somerset, New Jersey.37
  • On 31 Jul 2026, the company announced it had launched sugammadex injection in the United States after U.S. FDA approval; the drug reverses the muscle relaxants given during surgery.38
  • On 20 Jul 2026, its U.S. subsidiary Lupin Inc. licensed 2 cancer drug programmes to Kaveri Therapeutics in exchange for an 82.2% equity stake.3940

Litigation and regulatory matters

  • As of its presentation of 7 Aug 2026, Tarapur, Mandideep Unit-1 and Pithampur Unit-II were under remediation; the U.S. FDA rated Pithampur Unit II Official Action Indicated (findings needing regulatory action), and the company had submitted its response.4142
  • In the quarter to Jun 2026, the U.S. FDA issued inspection reports with Voluntary Action Indicated status (findings that need no regulatory action) for its Ankleshwar and Somerset plants.42

Last updated

All 42 sources, each with its page
  1. 1. Exchange filing, 28 Sep 2026, page 2
  2. 2. Exchange filing, 31 Jul 2026, page 2
  3. 3. Annual report, 13 Jul 2026, page 289
  4. 4. Annual report, 13 Jul 2026, page 39
  5. 5. Annual report, 13 Jul 2026, page 243
  6. 6. Annual report, 13 Jul 2026, page 42
  7. 7. Annual report, 13 Jul 2026, page 89
  8. 8. Annual report, 13 Jul 2026, page 1
  9. 9. Annual report, 13 Jul 2026, page 81
  10. 10. Annual report, 13 Jul 2026, page 339
  11. 11. Earnings call, 7 Aug 2026, page 5
  12. 12. Earnings call, 7 Aug 2026, page 3
  13. 13. Investor presentation, 7 Aug 2026, page 5
  14. 14. Earnings call, 7 Aug 2026, page 7
  15. 15. Annual report, 13 Jul 2026, page 66
  16. 16. Annual report, 13 Jul 2026, page 115
  17. 17. Annual report, 13 Jul 2026, page 115
  18. 18. Investor presentation, 7 Aug 2026, page 15
  19. 19. Annual report, 13 Jul 2026, page 69
  20. 20. Investor presentation, 7 Aug 2026, page 7
  21. 21. Investor presentation, 7 Aug 2026, page 7
  22. 22. Annual report, 13 Jul 2026, page 122
  23. 23. Annual report, 13 Jul 2026, page 45
  24. 24. Earnings call, 7 Aug 2026, page 7
  25. 25. Annual report, 13 Jul 2026, page 52
  26. 26. Investor presentation, 7 Aug 2026, page 10
  27. 27. Annual report, 13 Jul 2026, page 42
  28. 28. Investor presentation, 7 Aug 2026, page 6
  29. 29. Earnings call, 7 Aug 2026, page 5
  30. 30. Earnings call, 7 Aug 2026, page 10
  31. 31. Earnings call, 7 Aug 2026, page 3
  32. 32. Earnings call, 7 Aug 2026, page 3
  33. 33. Earnings call, 7 Aug 2026, page 3
  34. 34. Earnings call, 7 Aug 2026, page 4
  35. 35. Exchange filing, 1 Oct 2026, page 1
  36. 36. Exchange filing, 1 Jul 2026, page 1
  37. 37. Exchange filing, 28 Sep 2026, page 2
  38. 38. Exchange filing, 31 Jul 2026, page 2
  39. 39. Exchange filing, 21 Jul 2026, page 1
  40. 40. Exchange filing, 21 Jul 2026, page 3
  41. 41. Investor presentation, 7 Aug 2026, page 11
  42. 42. Investor presentation, 7 Aug 2026, page 6

Results

Consolidated; ₹ crore.Lupin quarterly results

Revenue growth, 12 months
+28.2%
Net profit growth, 12 months
+49.5%

Quarter to Jun 2026, against the quarter before

Revenue
₹8,277 Crup 10.73%
Net profit
₹1,417 Crdown 3.52%
Net margin
17.1%

Revenue by quarter

₹5,673 CrSep 24₹5,768 CrDec 24₹5,667 CrMar 25₹6,268 CrJun 25₹7,048 CrSep 25₹7,168 CrDec 25₹7,475 CrMar 26₹8,277 CrJun 26
Peak revenue ₹8,277 Cr, quarter to Jun 2026; lowest ₹5,667 Cr, quarter to Mar 2025

Net profit by quarter, a loss in red

₹859 CrSep 24₹859 CrDec 24₹782 CrMar 25₹1,221 CrJun 25₹1,485 CrSep 25₹1,181 CrDec 25₹1,469 CrMar 26₹1,417 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue5,6735,7685,6676,2687,0487,1687,4758,277
Net profit8598597821,2211,4851,1811,4691,417
Net margin15.2%14.9%13.8%19.5%21.1%16.5%19.6%17.1%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit

  • Pharmaceuticals₹27,812 Crup 23.04%99.5%
  • Others₹147 Cr0.5%
The pill is the change in revenue on the year before; the share is of all the businesses together.

Valuation

Today, against the company's own history. Its history crosses a change of basis in the accounts in the years to Mar 2019 and Mar 2020: days before it are of the company before the change.Lupin PE ratio and valuation

Price to earnings

At or below today's level on 2% of 744 trading days over the last 3 years.

LowestHighest
Its median30.95Industry median28.38
Price to book

At or below today's level on 61% of 1,981 trading days since Nov 2018.

LowestHighest
Its median3.58Industry median2.97
Dividend yield

At or below today's level on 93% of 2,463 trading days over the last 10 years.

LowestHighest
Its median0.59%Industry median0.48%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year+14.9%+62.3%−29.7%0.8%
3 years+53.4%+131.1%−33.9%0.6%
5 years+18.4%+33.9%−12.1%0.6%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 1, 3 and 5 years includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the year to Mar 2026.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Lupin shareholding pattern

Shareholding by group

  • Promoters46.84%
  • Foreign institutions23.28%
  • Indian institutions23.78%
  • Individuals and others6.09%
Holder
Lupin Investments Private LimitedPromoter45.31%
LICI New Pension Plus Growth FundInsurance companies3.90%
NPS Trust- A/C ICICI Pension Fund Scheme E - Tier IProvident and pension funds2.63%
Manju D GuptaPromoter0.85%
Nilesh GuptaPromoter0.20%
Anuja GuptaPromoter0.16%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters −0.01 pts, foreign institutions +0.86 pts, Indian institutions −0.87 pts, mutual funds −0.26 pts.

Mutual fund holdings

248 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 122 of the 153 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 3 more funds filed their first portfolio on record, holding it.All 248 funds holding Lupin

Bought for the first time
5
Bought again
5
Added
89
Cut
64
Held unchanged
82
Sold out
7
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 30 Oct 2025.Lupin insider trading

No promoter, director, key manager or employee bought or sold on the market.

  • Promoters and promoter group: no market trade
  • Others: no market trade · 2 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Lupin competitors and peers

Pharmaceuticals, 215 listed companies, priced on 29 Oct 2026. The table lists the 8 companies closest to Lupin in market cap.Healthcare companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Dr. Reddy's Laboratories logoDr. Reddy's LaboratoriesDRREDDY1,12,26440.102.89−3.5%−51.5%7.5%6.0%0.59%
Cipla logoCiplaCIPLA1,09,70937.873.10−0.7%−46.8%8.5%9.7%0.96%
Mankind Pharma logoMankind PharmaMANKIND1,01,99345.365.80+13.3%+28.4%13.7%13.6%0.00%
Aurobindo Pharma logoAurobindo PharmaAUROPHARMA95,50725.732.52+9.1%+9.5%10.5%11.5%0.00%
Glenmark Pharmaceuticals logoGlenmark PharmaceuticalsGLENMARK66,01236.726.28+32.9%+138.4%18.6%39.8%0.11%
Alkem Laboratories logoAlkem LaboratoriesALKEM60,72728.154.39+13.4%−5.6%16.7%16.5%1.04%
Biocon logoBioconBIOCON57,349115.791.69+9.8%+28.6%1.8%2.9%0.14%
Abbott India logoAbbott IndiaABBOTINDIA55,55634.4111.64+6.3%+11.2%35.9%39.6%2.51%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Lupin dividend history

Dividend per share, ₹, restated for later splits and bonuses

7.5Mar 175Mar 185Mar 196Mar 206.5Mar 214Mar 224Mar 238Mar 2412Mar 2518Mar 26
Highest ₹18.00 a share, year to Mar 2026.
Ex-dateTypePer share
17 Jul 2026Final₹18.00
25 Jul 2025Final₹12.00
16 Jul 2024Final₹8.00
14 Jul 2023Final₹4.00
14 Jul 2022Final₹4.00
27 Jul 2021Final₹6.50
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Lupin announcements

Lupin share price by year

Each calendar year to 2025.Lupin share price history

YearClose at year endChangeHighest closeLowest close
20252,109.50−10.5%2,396.101,851.80
20242,355.70+78.1%2,355.701,312.85
20231,322.95+80.3%1,339.95640.00
2022733.70−22.8%959.45590.25
2021950.75−2.7%1,247.25858.25
2020976.85+28.0%1,085.90548.10
2019763.45−9.6%883.10667.60
2018844.30−4.6%968.75734.50
2017885.10−40.5%1,521.75808.95
20161,486.95−19.1%1,905.651,398.25
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
28 Oct 20261,954.001,974.001,935.001,972.701,962.133,70,87651.9%
27 Oct 20261,949.001,966.601,942.401,952.001,954.596,57,95261.1%
26 Oct 20261,928.001,959.901,912.401,959.901,935.744,45,63051.8%
23 Oct 20261,922.001,929.901,892.901,928.901,912.687,02,15655.7%
22 Oct 20261,942.001,945.701,896.101,922.001,920.857,28,62054.6%
21 Oct 20261,948.101,964.001,929.001,964.001,945.036,33,22160.5%
19 Oct 20261,955.801,971.601,930.001,939.201,953.776,02,00856.4%
16 Oct 20261,980.001,980.501,947.001,961.601,961.217,29,31163.4%
15 Oct 20261,943.001,990.901,943.001,980.901,974.826,73,28053.6%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Stock split history

Ex-dateEventPrice factorWhat happened
27 Aug 2010Split0.2000Each share became 5.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.

Company details

Chairperson
Manju D. Gupta
At the end of the quarter to Sep 2026
Chief executive
Vinita Gupta
At the end of the quarter to Sep 2026
Managing director
Nilesh D. Gupta
At the end of the quarter to Sep 2026
NSE symbol
LUPIN
BSE code
500257
ISIN
INE326A01037
Industry
Pharmaceuticals & Biotechnology
CIN
L24100MH1983PLC029442
Corporate identity number, the registrar of companies' code for it
Incorporated
1983
Registered office
Kalpataru Inspire, 3rd Floor, Off Western Express Highway, Santacruz (East), Mumbai 400055, Maharashtra
Share registrar
MUFG Intime India Pvt. Ltd
Keeps the register of shareholders and handles transfers and dividend payments