Lincoln Pharmaceuticals Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2014 • Pharmaceutical: 78.8% • Chemical: 21.2%
AI Sector View
AI GENERATEDHealthcare
This stance relies on proxies and positioning because no direct pharma-export or healthcare operating series exists in the dataset. The depreciated currency at 95.23 (Sep/26) can support export earnings, inflation at 4.45% (Jul/26) is manageable for a defensive sector, and consumer spending remains large at INR 44743 billion (Jun/26). Strong FPI inflow of INR 10620 crore over 3 months to 2026-08-31 from INR -11381 crore in the prior 3 months adds a real sector-specific tailwind, but confidence stays capped because the fundamental drivers are indirect proxies.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 20.6%
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 30.9% YoY, showing strong momentum
- Company generates healthy free cash flow
- Company has a consistent dividend-paying track record
CONS
- Operating margins have contracted to 15.5% from 21.2%
- Company has delivered a poor profit growth of 9.9% over past five years
- Though reporting repeated profits, the company pays out little dividend (4.4%)
- Expensive relative to growth - PEG of 2.2
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SUNPHARMA | 1842.00 | 36.54 | 441957.50 | 0.87 | 2901.23 | 26.53 | 15299.88 | 10.98 | 19.11 | 28.81 |
| DIVISLAB | 9326.00 | 84.64 | 247576.00 | 0.32 | 902.00 | 65.50 | 3080.00 | 27.80 | 21.51 | 40.75 |
| TORNTPHARM | 4975.00 | 86.76 | 189233.01 | 0.76 | 566.00 | 3.28 | 4921.00 | 57.32 | 19.27 | 33.81 |
| ZYDUSLIFE | 1119.50 | 24.74 | 111670.55 | 0.09 | 990.20 | -34.90 | 8017.00 | 23.97 | 21.39 | 24.54 |
| CIPLA | 1365.00 | 32.72 | 110272.68 | 0.95 | 785.55 | -39.18 | 7119.28 | 4.13 | 16.00 | 16.73 |
| LAURUSLABS | 1970.35 | 97.37 | 106460.42 | 0.10 | 362.07 | 123.94 | 2026.31 | 29.10 | 18.20 | 31.50 |
| DRREDDY | 1161.00 | 30.07 | 96906.38 | 0.69 | 435.60 | -69.10 | 8099.80 | -5.21 | 13.75 | 10.63 |
| AUROPHARMA | 1675.45 | 25.97 | 96401.69 | 0.24 | 1032.03 | 25.22 | 9150.35 | 17.44 | 12.76 | 20.54 |
| LUPIN | 2096.00 | 17.34 | 95842.92 | 0.86 | 1416.98 | 16.01 | 8276.89 | 34.28 | 28.86 | 29.59 |
| MANKIND | 2277.00 | 46.04 | 94050.37 | 0.04 | 574.09 | 29.12 | 4030.59 | 12.89 | 13.24 | 26.30 |
| GLENMARK | 2416.90 | 37.94 | 68210.88 | 0.10 | 482.83 | 927.88 | 4018.48 | 31.35 | 20.35 | 20.03 |
| LINCOLN | 625.05 | 12.98 | 1251.96 | 0.29 | 36.23 | 30.93 | 177.28 | 15.07 | 17.55 | 15.47 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 136 | 156 | 146 | 142 | 147 | 161 | 147 | 168 | 154 | 163 | 166 | 187 | 177 | |
| 115 | 125 | 117 | 124 | 125 | 133 | 123 | 141 | 130 | 138 | 143 | 162 | 154 | |
| Operating Profit | 21 | 31 | 30 | 18 | 23 | 28 | 24 | 27 | 24 | 25 | 24 | 25 | 23 |
| OPM % | 15.28% | 19.97% | 20.25% | 12.90% | 15.43% | 17.60% | 16.14% | 15.89% | 15.45% | 15.56% | 14.18% | 13.27% | 13.14% |
| 8 | 9 | 11 | 7 | 10 | 10 | 9 | -7 | 15 | 7 | 15 | -4 | 24 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 |
| Profit before Tax | 25 | 37 | 38 | 22 | 29 | 35 | 29 | 16 | 35 | 29 | 35 | 17 | 48 |
| Tax % | 25.27% | 24.98% | 25.64% | 16.29% | 19.71% | 24.30% | 27.58% | 28.74% | 21.79% | 30.65% | 17.63% | 30.36% | 23.80% |
| Net Profit | 0 | 0 | 0 | 0 | 24 | 26 | 21 | 12 | 28 | 20 | 29 | 12 | 36 |
| 9.49 | 13.81 | 14.00 | 9.28 | 11.82 | 13.15 | 10.37 | 5.78 | 13.82 | 9.98 | 14.28 | 5.81 | 18.09 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 400 | 360 | 361 | 366 | 386 | 424 | 472 | 510 | 581 | 623 | 694 | |
| 360 | 314 | 308 | 299 | 321 | 337 | 377 | 421 | 481 | 522 | 597 | |
| Operating Profit | 41 | 47 | 52 | 67 | 66 | 87 | 95 | 89 | 100 | 101 | 97 |
| OPM % | 10.13% | 12.97% | 14.51% | 18.36% | 16.96% | 20.55% | 20.22% | 17.48% | 17.21% | 16.29% | 13.99% |
| 7 | 3 | 5 | 6 | 11 | 6 | 10 | 22 | 34 | 22 | 42 | |
| Interest | 10 | 7 | 5 | 4 | 2 | 2 | 1 | 2 | 1 | 2 | 1 |
| Depreciation | 5 | 6 | 6 | 7 | 7 | 8 | 8 | 9 | 11 | 13 | 15 |
| Profit before Tax | 33 | 37 | 46 | 62 | 67 | 84 | 96 | 100 | 122 | 109 | 128 |
| Tax % | 28.02% | 24.64% | 25.08% | 21.63% | 23.45% | 25.65% | 27.71% | 27.45% | 23.67% | 24.58% | 24.52% |
| Net Profit | 24 | 28 | 35 | 49 | 51 | 62 | 69 | 73 | 93 | 82 | 96 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 31.08 | 34.63 | 36.40 | 46.58 | 41.11 | — |
| Dividend Payout % | 6.89% | 8.53% | 8.66% | 6.16% | 5.83% | 4.83% | 4.33% | 4.12% | 3.86% | 4.38% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 9%
- 5 Years:
- 10%
- 3 Years:
- 10%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 19%
- 5 Years:
- 10%
- 3 Years:
- 6%
STOCK PRICE CAGR
- 10 Years:
- 10%
- 5 Years:
- 9%
- 3 Years:
- 8%
- 1 Year:
- 12%
RETURN ON EQUITY
- 10 Years:
- 17%
- 5 Years:
- 16%
- 3 Years:
- 15%
- Last Year:
- 13%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 16 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 |
| 117 | 172 | 204 | 249 | 293 | 346 | 413 | 482 | 573 | 652 | |
| 79 | 69 | 65 | 38 | 9 | 5 | 7 | 7 | 5 | 5 | |
| Trade Payables | 30 | 32 | 43 | 44 | 51 | 57 | 72 | 51 | 72 | 85 |
| 32 | 30 | 30 | 47 | 63 | 59 | 43 | 76 | 55 | 60 | |
| Total Liabilities | 275 | 324 | 363 | 399 | 437 | 487 | 555 | 637 | 725 | 822 |
| 98 | 103 | 117 | 121 | 123 | 111 | 132 | 151 | 179 | 182 | |
| Capital Work in Progress | 3 | 7 | 0 | 2 | 0 | 2 | 16 | 7 | 3 | 4 |
| 0 | 10 | 11 | 18 | 34 | 81 | 97 | 91 | 139 | 174 | |
| 27 | 37 | 45 | 36 | 47 | 47 | 73 | 70 | 77 | 79 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 162 | 166 | |
| Cash & Bank | 13 | 12 | 15 | 8 | 15 | 14 | 19 | 34 | 14 | 22 |
| 133 | 155 | 175 | 214 | 218 | 234 | 218 | 284 | 151 | 194 | |
| Total Assets | 275 | 324 | 363 | 399 | 437 | 487 | 555 | 637 | 725 | 822 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 52 | 35 | 36 | 70 | 90 | 89 | 100 | 69 | 63 | 93 | |
| Cash from Investing | -42 | -25 | -12 | -18 | -31 | -64 | -78 | -37 | -57 | -79 |
| Cash from Financing | -3 | 0 | -11 | -36 | -38 | -6 | -3 | -5 | -5 | -6 |
| -0 | -0 | 3 | -1 | 7 | -1 | -5 | -2 | 1 | 8 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-07 - Lincoln Pharmaceuticals Limited has informed the Exchange about Copy of Newspaper Publication for Notice of 32nd Annual General Meeting.
2026-09-05 - Lincoln Pharmaceuticals Limited has informed the Exchange Intimation regarding dispatch of physical communication to the Shareholders who have not registered their email address. ''.
2026-09-05 - Lincoln Pharmaceuticals Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026.
2026-08-29 - Lincoln Pharmaceuticals Limited has informed the Exchange that Record date for the purpose of Dividend is 11-Sep-2026.
2026-08-26 - Lincoln Pharmaceuticals Limited has informed the Exchange about Copy of Newspaper Publication regarding the 32nd Annual General Meeting of the Company to be held on Wednesday, September 30, 2026.
2026-08-14 - Lincoln Pharmaceuticals Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-13 - Lincoln Pharmaceuticals Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-06 - Lincoln Pharmaceuticals Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
2026-06-24 - Lincoln Pharmaceuticals Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
News
Recent coverage and analyst commentary for LINCOLN
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Lincoln Pharmaceuticals Ltd.
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