Lupin Ltd

Lupin today announced that it has received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (US FDA) for its Ankleshwar facility in Gujarat, India, following closure of a product specific Pre-Approval Inspection from 02 March to 07 March 2026.

Lupin today announced that it has been featured for the first time in the Dow Jones Best-in-Class (DJBIC) Indices, underscoring the company's strong commitment to sustainable, responsible, and ethical business practices. Lupin has been listed in both the DJBIC World Index and the DJBIC Emerging Markets Index. The DJBIC World Index ranks top-performing companies globally by strong ESG performance, while the DJBIC Emerging Markets Index highlights sustainability leaders across emerging economies. Lupin was previously ranked among the top 1% globally in the S&P Global Corporate Sustainability Assessment (CSA) 2025, achieving an industry-leading score of 91/100. The Dow Jones Best-in-Class Indices recognize companies that demonstrate exceptional performance across key Environmental, Social, and Governance (ESG) parameters, based on leading S&P Global CSA scores. Inclusion in these prestigious indices reinforces Lupin's credibility with global investors, strengthens its competitive positioning, and places the company among a distinguished group of global leaders recognized for best-in-class sustainability performance.

Consolidated profit after tax stood at Rs 1,468.70 crore in Q4 FY26, up 87.72% from Rs 782.40 crore in Q4 FY25 and higher by 24.42% from Rs 1,180.50 crore in Q3 FY26. Net sales rose 32.9% to Rs 7391.91 crore in Q4 FY26 from Rs 5562.2 crore in Q4 FY25. It increased 4.1% sequentially from Rs 7100.5 crore in Q3 FY26. Gross profit excluding other operating income stood at Rs 5,540.30 crore in Q4 FY26, up 42.90% from Rs 3,876 crore in the year-ago quarter. Gross margin expanded to 75% from 69.7% in Q4 FY25 and 73.5% in Q3 FY26. Profit before tax stood at Rs 1,928 crore in Q4 FY26, up 115.22% from Rs 895.80 crore in Q4 FY25 and higher by 26.68% from Rs 1,522 crore in Q3 FY26. EBITDA stood at Rs 2,626.30 crore in Q4 FY26, up 90.57% from Rs 1,378.10 crore in Q4 FY25 and higher by 10.51% from Rs 2,376.60 crore in Q3 FY26. EBITDA margin expanded 1,070 bps YoY to 35.5% from 24.8% and improved 200 bps sequentially from 33.5% in Q3 FY26. Geographically, the U.S. market remained the largest contributor to sales during Q4 FY26, with revenue rising 56.90% YoY to Rs 3,398.70 crore. India sales increased 11.51% to Rs 1,908.20 crore, while emerging markets revenue climbed 49.21% to Rs 990.60 crore. Revenue from other developed markets rose 7.15% to Rs 845.30 crore. Total formulations sales grew 34% YoY to Rs 7,142.80 crore, while API revenue increased 7.60% to Rs 249.10 crore. Total product sales rose 32.90% to Rs 7,391.90 crore in Q4 FY26. Material cost increased 9.81% YoY to Rs 1,851.60 crore, while employee cost rose 24.11% to Rs 1,242.70 crore. Manufacturing and other expenses climbed 30.91% to Rs 2,209.30 crore. Finance cost rose 34.90% YoY to Rs 120.20 crore, while depreciation, amortization and impairment expense increased 13.63% to Rs 446.80 crore. Other income surged 146.84% YoY to Rs 140.70 crore during the quarter. Forex gain stood at Rs 314.50 crore against a forex gain of Rs 29.10 crore in Q4 FY25. Exceptional items for Q4 FY26 stood at Rs 131.30 crore compared with nil in the corresponding quarter last year. Investment in research and development for the quarter stood at Rs 589.80 crore, equivalent to 8.0% of sales. Operating working capital stood at Rs 7,132.40 crore as of quarter-end, while operating days stood at 87 days. Capital expenditure for Q4 FY26 stood at Rs 305.20 crore. For the full year, capex stood at Rs 1,061.80 crore. The company reported net debt of negative Rs 4,635.80 crore as of 31 March 2026. Net debt-to-equity ratio stood at negative 0.21, indicating a net cash position. For the full year ended 31 March 2026, net sales increased 23.9% to Rs 27487.50 crore from Rs 22192.10 crore in FY25. Profit before tax rose 71.17% to Rs 6,872.60 crore from Rs 4,015 crore in FY25, while profit after tax increased 61.98% to Rs 5,355.50 crore from Rs 3,306.30 crore. Full-year EBITDA jumped 68.64% to Rs 9,240.50 crore from Rs 5,479.20 crore. EBITDA margin expanded 890 bps to 33.6% from 24.7%. Net cash from operating activities surged to Rs 7,334.50 crore in FY26 from Rs 2,999.94 crore in FY25. Managing director Nilesh Gupta said the company's Q4 and FY26 performance reflected strong sales growth and margin expansion in the U.S. and India markets, supported by investments in technology, execution and operational efficiencies. Lupin is a global pharmaceutical company focused on branded and generic formulations, complex generics, biotechnology products and active pharmaceutical ingredients across multiple therapeutic segments. Shares of Lupin fell 3.51% to Rs 2373.50 on the BSE. Powered by Capital Market - Live

Lupin announced that the Board of Directors of the Company at its meeting held on 7 May 2026, inter alia, have recommended the final dividend of Rs 18 per equity Share (i.e. 900%) , subject to the approval of the shareholders.

Net profit of Lupin rose 89.04% to Rs 1460.34 crore in the quarter ended March 2026 as against Rs 772.52 crore during the previous quarter ended March 2025. Sales rose 32.90% to Rs 7391.91 crore in the quarter ended March 2026 as against Rs 5562.20 crore during the previous quarter ended March 2025. For the full year,net profit rose 62.51% to Rs 5332.84 crore in the year ended March 2026 as against Rs 3281.62 crore during the previous year ended March 2025. Sales rose 23.86% to Rs 27487.54 crore in the year ended March 2026 as against Rs 22192.11 crore during the previous year ended March 2025. ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var. Sales7391.915562.20 33 27487.5422192.11 24 OPM %33.6323.75 -32.0723.81 - PBDT2506.131289.02 94 8805.965184.26 70 PBT2059.34895.84 130 7430.464015.00 85 NP1460.34772.52 89 5332.843281.62 63 Powered by Capital Market - Live

The product is bioequivalent to Xigduo XR and will be marketed for the same indications as per the approved labeling. Dapagliflozin and Metformin Hydrochloride is a combination medication used to improve glycemic control in adults with type 2 diabetes Lupin is a global pharmaceutical leader headquartered in Mumbai, India, with products distributed in over 100 markets. It specializes in pharmaceutical products, including branded and generic formulations, complex generics, biotechnology products, and active pharmaceutical ingredients. The pharmaceutical company reported a 37.46% surge in consolidated net profit to Rs 1,175.55 crore in Q3 FY26 as against Rs 855.16 crore posted in Q3 FY25. Total revenue from operations jumped 24.26% year-on-year to Rs 7,167.52 crore in the quarter ended 31 December 2025. The counter shed 0.10% to end at Rs 2,309.45 on the BSE.

The inspection was conducted from 13 April 2026 to 17 April 2026 and closed with the issuance of a Form-483 with three observations. We will address the observations and respond to the U.S. FDA within the stipulated timeframe. We are committed to be compliant with CGMP standards across all our facilities,' Lupin stated. Lupin is a global pharmaceutical leader headquartered in Mumbai, India, with products distributed in over 100 markets. It specializes in pharmaceutical products, including branded and generic formulations, complex generics, biotechnology products, and active pharmaceutical ingredients. The pharmaceutical company reported a 37.46% surge in consolidated net profit to Rs 1,175.55 crore in Q3 FY26 as against Rs 855.16 crore posted in Q3 FY25. Total revenue from operations jumped 24.26% year-on-year to Rs 7,167.52 crore in the quarter ended 31 December 2025. The scrip had shed 0.10% to end at Rs 2324.25 on the BSE on Friday.

Lupin has incorporated a wholly owned subsidiary in Thailand in the name and style 'Lupin Thailand' on 17 April 2026.

The case forms part of the broader In re Generic Pharmaceuticals Antitrust Litigation, a multi-defendant proceeding involving several pharmaceutical companies accused of price-fixing and market allocation practices in generic drugs. The litigation is pending in Philadelphia, Pennsylvania. The agreement states that Lupin Pharmaceuticals Inc. denies all allegations, and the settlement does not constitute any admission of liability or unlawful conduct. The settlement is an attempt by the company to resolve legacy legal exposures to avoid prolonged litigation costs and related uncertainties. Under the agreement, Lupin Pharmaceuticals Inc. will pay $30 million for a full and final release of all claims by Humana against the company and its affiliates. The settlement amount has already been provided for in the company's prior consolidated financial statements,' Lupin said. Lupin is a global pharmaceutical leader headquartered in Mumbai, India, with products distributed in over 100 markets. It specializes in pharmaceutical products, including branded and generic formulations, complex generics, biotechnology products, and active pharmaceutical ingredients. The pharmaceutical company reported a 37.46% surge in consolidated net profit to Rs 1,175.55 crore in Q3 FY26 as against Rs 855.16 crore posted in Q3 FY25. Total revenue from operations jumped 24.26% year-on-year to Rs 7,167.52 crore in the quarter ended 31 December 2025. The scrip shed 0.28% to currently trade at Rs 2320 on the BSE.

Lupin Pharmaceuticals, Inc. USA (LPI), a wholly owned subsidiary of the Company, has been involved in multiple civil lawsuits alleging anticompetitive behavior related to certain products and violation of federal and state antitrust laws. These multiple civil lawsuits were then combined into the collection of similar cases referred to as In Re Generic Pharmaceuticals Antitrust Litigation (Litigation), located in Philadelphia, Pennsylvania. While LPI denies the allegations but considering that other defendants have recently settled the case and in order to avoid the costs and uncertainties of continued Litigation, LPI has entered into a Settlement Agreement (Agreement) with one of the Plaintiffs namely Humana Inc. (Humana). Under the terms of the Agreement, LPI will pay USD 30 million (US Dollars Thirty million) in consideration for a full and final release of all claims against LPI and its current and former parents, affiliates, directors, employees and officers by Humana. This amount of settlement has already been provided in the Company's prior consolidated financial results. The settlement explicitly states that LPI denies all allegations made against it, and that the Agreement does not imply any admission of liability or unlawful conduct by LPI.