Lupin Limited is an India-based pharmaceutical company engaged in producing, developing and marketing a range of branded and generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally. The company is an innovation-led transnational pharmaceutical company headquartered in Mumbai, India, developing and commercializing a wide range of branded and generics formulations, biotechnology products and APIs in over 100 markets in the U.S., India, South Africa, and across the Asia Pacific (LATAM), Europe, and Middle East regions.
Founded in 1968 by Dr. Desh Bandhu Gupta, a professor of Chemistry, Lupin was incorporated in 1972 and started its business as a vitamin manufacturer. It soon bagged a huge order for supplying iron and folic acid tablets from the central government for the mother and child healthcare programmes. In 1979, the company commissioned its maiden formulation plant and research and development centre in Aurangabad, Maharashtra.
The company enjoys a leadership position in the cardiovascular, anti-diabetic, and respiratory segments and has a significant presence in the anti-infective, gastro-intestinal (GI), central nervous system (CNS), and women's health areas. The company has presence in the Cardiovascular, Diabetology, Asthma, Pediatrics, Central Nervous System, Gastro-Intestinal, Anti-Infectives and Nonsteroidal Anti Inflammatory Drug therapy segments and is engaged in the Anti-TB and Cephalosporins segments.
Lupin is the 8th largest company in the Indian Pharmaceutical Market (IQVIA MAT Mar 2025). The company is the 8th largest player in South Africa in generics market (IQVIA MAT Feb 2025). The company maintains its leadership position as the 3rd largest pharmaceutical player in the U.S.
The company along with its subsidiaries has manufacturing locations spread across India, United States of America, Mexico and Brazil with trading and other incidental and related activities extending to the global markets. Lupin owns and operates 12 manufacturing plants in India at Aurangabad, Ankleshwar, Mandideep, Pune, Tarapur, Goa, Jammu, Vadodara, Indore, Nagpur, Visakhapatnam and Sikkim. It has three manufacturing units abroad in Mexico, Brazil and the US.
Mumbai-based pharma giant Lupin on Tuesday reported a sharp 112.4 per cent on-year rise in its consolidated net profit at ₹782.4 crore for the fourth quarter of financial year 2025 (Q4FY25), up from ₹368.2 crore recorded for the same period last year. The company's revenue from operations rose 14.2 per cent Y-o-Y to ₹5,671 crore, from ₹4,961 crore in Q4FY24.
On an operational basis, Lupin's earnings before interest, tax, deduction and amortisation (Ebitda) rose by 34.3 per cent Y-o-Y to ₹1,371 crore, from ₹1,026 crore in Q4FY24, with Ebitda margin rising to 24.8 per cent from 21 per cent.
- **Revenue**: ₹22,708 Cr for FY2025
- **Profit**: ₹3,306 Cr for FY2025
- **Market Cap**: ₹90,471 Crore (up 11.9% in 1 year) as of July 2025
- **Net Profit Q4 FY25**: ₹772.52Cr (jumped 114.93% since last year same period)
- **Dividend**: ₹8 per share for Q4 FY24 (dividend yield of 0.62%)
Investment in R&D was INR 17,672 Mn (8.0% of sales) for FY2025 compared to INR 15,265 Mn (7.8% of Sales) in FY24. Lupin received approval for 7 ANDAs from the U.S. FDA in the quarter. Cumulative ANDA filings with the U.S. FDA stand at 441 as of March 31, 2025, with the company having received 340 approvals to date.
The company now has 47 First-to-File (FTF) filings including 16 exclusive FTF opportunities. Cumulative U.S. DMF filings stand at 157 as of March 31, 2025.
Lupin transfers OTC Consumer Healthcare Business to wholly owned subsidiary effective July 1, 2025. Lupin carves out consumer healthcare into wholly owned subsidiary LupinLife, effective July 1, 2025. Lupin transfers API R&D Division to wholly owned subsidiary effective July 1, 2025.
Lupin has entered a license and supply agreement with Sino Universal Pharmaceuticals to commercialize Tiotropium Dry Powder Inhaler in China, aiming to address the growing demand for respiratory treatments.
The company's complex generics portfolio includes Filgrastim, Pegfilgrastim, Etanercept and Albuterol and others. Its biosimilar products include Lupifil (Filgrastim), Lupifil-P (Peg-Filgrastim) and Etanercept. Lupin Ltd is one of the world's leading manufacturers of APIs, with a portfolio that includes more than 200 APIs and intermediates.
Managing Director: Nilesh Deshbandhu Gupta. Promoter holding in Lupin Ltd has gone down to 46.92 per cent as of Mar 2025 from 46.98 per cent as of Jun 2024.
Lupin target price ₹2259.97, a slight upside of 12.39% compared to current price of ₹1944. Axis Capital issued a positive note, maintaining a Buy rating on Lupin with a target price of Rs 2,500.
The company continues to focus on expansion in complex generics, strengthening its presence in key therapeutic areas, and maintaining operational efficiency across its global operations. With its strong R&D pipeline and diversified geographical presence, Lupin remains well-positioned in the competitive pharmaceutical landscape.
