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India
As of 18 Sept 2026, 03:30 pm
On September 4, 2026, Lupin Limited announced it received U.S. FDA approval for its ANDA for Modafinil Tablets USP, in 100 mg and 200 mg strengths. These tablets are bioequivalent to Provigil Tablets by Nuvo Pharmaceuticals and are indicated for excessive sleepiness. The estimated annual U.S. sales for the reference listed drug were USD 70.7 million as of July 2026.
As of September 18, 2026, the daily trend for Lupin shares indicates a bearish SuperTrend direction with a value of 2174.87. The Exponential Moving Averages (EMA) and Simple Moving Averages (SMA) on a daily basis are below the current closing price of ₹2083.0, with negative slopes. On a weekly basis, the SuperTrend is also bearish at 2367.44, with the EMA and SMA values also above the current closing price and showing negative slopes, except for the weekly 50-period SMA which has a positive slope.
Lupin Limited has informed the exchange that it will participate in two upcoming investor events. The company is scheduled to attend the Kotak Healthcare Conference on September 17, 2026, and the J.P. Morgan India Conference on September 21, 2026. Both events are planned as in-person group meetings.
As of the latest available data, Lupin's period returns show a decline over several shorter terms. The return for the last month (1m) was -7%, for the last three months (3m) it was -10%, and for the last six months (6m) it was -10%. The year-to-date (YTD) return was -1%, and the return since the start of the data series was -12%. However, the return over the last year (1y) was positive at 2%.
As of 18 Sept 2026, 03:30 pm
Recent drawdown or price variability is high enough to warrant closer monitoring.
Primary driver: Price remains materially below a previous peak
Upward price movement of 4.14 standard deviations recorded on 2026-09-17.
Unusual market activity that may warrant review of the underlying price, volume, or news context.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Revenue From Operations | PEAK₹8,276.89 crore | ₹7,474.66 crore | ₹7,167.52 crore | ₹7,047.51 crore | ₹6,268.34 crore |
| Expenses | PEAK₹6,389.83 crore | ₹5,556.03 crore | ₹5,333.61 crore | ₹5,130.54 crore | ₹4,931.84 crore |
| Profit Before Tax | PEAK₹2,017.38 crore | ₹1,928 crore | ₹1,522.04 crore | ₹2,006.97 crore | ₹1,415.54 crore |
| Profit Loss For Period | ₹1,416.98 crore | ₹1,468.67 crore | ₹1,180.51 crore | PEAK₹1,484.83 crore | ₹1,221.46 crore |
| Finance Costs | ₹109.64 crore | PEAK₹120.16 crore | ₹114.98 crore | ₹107.59 crore | ₹91.76 crore |
| Tax Expense | PEAK₹600.38 crore | ₹459.33 crore | ₹341.53 crore | ₹522.14 crore | ₹194.08 crore |
Lupin reported its highest quarterly revenue, rising 10.7% sequentially to ₹8,276.89 crore. However, expenses grew faster, and a sharp increase in tax expense caused net profit to decline 3.5% from the prior quarter. Year-over-year, both revenue and profit before tax grew over 30%, but net profit growth was limited to 16% as the tax bill more than tripled.
Revenue from operations increased 10.73% sequentially (₹802 crore) and 32.04% year-over-year (₹2,009 crore). This is the fourth consecutive quarterly increase, with the sequential pace accelerating from 4.3% in Q4 FY2025-26. The absolute sequential gain is the largest in recent quarters.
Total expenses grew 15.01% sequentially, outpacing the 10.73% revenue growth. The expense-to-revenue ratio rose from 74.3% in Q4 to 77.2% in Q1. Year-over-year, expenses grew 29.56%, slightly below revenue growth of 32.04%, so the expense ratio improved to 77.2% from 78.7% a year ago.
Profit before tax increased 4.64% sequentially to ₹2,017.38 crore, a slower pace than revenue due to the faster expense growth. Year-over-year, PBT grew 42.52%, outpacing revenue growth, reflecting improved profitability compared with the same quarter last year.
Tax expense jumped 30.71% sequentially to ₹600.38 crore, the highest among the reported quarters. The effective tax rate (tax expense divided by PBT) rose from 23.8% in Q4 to 29.8% in Q1. Year-over-year, tax expense more than tripled (up 209.35% from ₹194.08 crore), while PBT grew 42.5%. As a result, net profit fell 3.52% sequentially to ₹1,416.98 crore, despite higher PBT. Year-over-year, net profit grew 16.01%, well below PBT growth.
Finance costs decreased 8.75% sequentially to ₹109.64 crore, reversing the upward trend of the previous three quarters. Year-over-year, finance costs were 19.49% higher.
Comprehensive income decreased 5.25% sequentially to ₹1,452.49 crore, a slightly larger decline than net profit, suggesting other comprehensive losses during the quarter. Basic earnings per share fell from ₹31.96 to ₹30.95 sequentially, but rose 15.92% year-over-year to ₹30.95.
Lupin delivered its highest quarterly revenue in the period under review, with year-over-year revenue growth of 32% and PBT growth of 42.5%. However, net profit declined sequentially as expenses grew faster than revenue and tax expense rose sharply. The effective tax rate increased significantly from both the prior quarter and the same quarter last year, limiting the translation of revenue growth into net profit.
Exchange disclosures and regulatory announcements for Lupin.
Lupin Limited will participate in the Kotak Healthcare Conference on September 17, 2026, and the J.P. Morgan India Conference on September 21, 2026, both as in-person group meetings, as disclosed under Regulation 30 of the SEBI Listing Regulations on September 08, 2026.
Lupin Limited announced on September 8, 2026, that it will participate in the Kotak Healthcare Conference and the J.P. Morgan India Conference, both scheduled to be held in person in Mumbai at 09:00 AM on September 17, 2026, and September 21, 2026, respectively. The meetings are designated as group sessions for various investors and analysts, with Ravi Agrawal listed as the contact person for investor relations inquiries.
Lupin Limited received U.S. FDA approval for its ANDA for Modafinil Tablets USP, 100 mg and 200 mg, on September 4, 2026. The tablets are bioequivalent to Provigil Tablets by Nuvo Pharmaceuticals and are indicated for excessive sleepiness associated with narcolepsy, OSA, or shift work disorder. The RLD had estimated annual U.S. sales of USD 70.7 million (IQVIA MAT Jul 2026).
On August 25, 2026, Lupin Limited's Operations and Finance Committee allotted 30,967 fully paid-up equity shares of ₹2 each upon exercise of vested stock options by employees and subsidiary employees, increasing the company's issued and paid-up share capital to ₹91,45,31,722, comprising 45,72,65,861 equity shares.
On August 25, 2026, Lupin Limited allotted equity shares under its ESOP/ESPS scheme following a board meeting approval on the same date. The allotment increased the paid-up share capital from INR 914,469,788 to INR 914,531,722 and raised the total number of shares outstanding from 457,234,894 to 457,265,861.
VISUfarma B.V., a wholly owned subsidiary of Lupin Limited, entered an exclusive license agreement with Visus Therapeutics, Inc. on August 20, 2026, to commercialize YUVEZZITM, a treatment for Presbyopia, in the European Union, the UK, Switzerland, Norway, and Iceland. The total potential consideration is up to €75 million through first commercial sales, including a €20 million strategic investment via a SAFE instrument and up to €55 million in regulatory and commercial milestone payments, plus royalties on net sales. The agreement is valid on a country-by-country basis until the 20th anniversary of the first commercial sale in each country, with renewal options for five-year periods.
Lupin Limited, through its subsidiary VISUfarma B.V., entered an exclusive license and commercialization agreement with Visus Therapeutics, Inc. for YUVEZZITM, an FDA-approved Presbyopia treatment, in the European Union, UK, Switzerland, Norway, and Iceland. The agreement includes a €20 million strategic investment in Visus via a SAFE instrument and up to €55 million in regulatory and early commercial milestone payments, totaling up to €75 million before first commercial sales, plus royalties and sales milestones. The agreement is valid for 20 years from first commercial sale per country, with VISUfarma having renewal options for five-year periods.
Dr. Sofia Mumtaz, President, Legal & Compliance, Canada, ANZ & NEA Business and a Senior Management Personnel of Lupin Limited, passed away on August 17, 2026 in the U.S.A., as disclosed by the company under Regulation 30 of SEBI Listing Regulations on August 18, 2026.
Recent market and company developments associated with Lupin.
The Feds indication of another rate hike in 2026 is likely to keep investors cautious, particularly in rate-sensitive and foreign-portfolio-investment-driven segments. However, buying interest in select domestic sectors provided some support, the Nifty hovered above the 23,250 mark. Market participants are likely to track currency movements, US bond yields and foreign fund flows for further direction.
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Comprehensive Section Breakdown for Lupin
Strategic Vision: Develops and delivers pharmaceutical solutions globally.
• Global network of operations and personnel.
• Integrated manufacturing, procurement, and supply chain functions.
• Commitment to quality and compliance in all stages of operation.
Category: Manufacturing
Focuses on providing accessible and affordable generic medicines across developed markets, with a significant presence in the U.S.
Category: B2B Services
Delivers accessible and high-quality healthcare solutions tailored to the unique healthcare landscapes of emerging markets.
Category: B2B Services
Features a diversified product portfolio across major therapy areas within India, including anti-tuberculosis, anti-diabetes, respiratory, and cardiology.
Category: Consumer Tech
Driven by science-led innovations, particularly in complex platforms such as inhalation and injectable technologies, to address unmet medical needs.
Category: Manufacturing
Aims to make complex biologics more accessible and affordable through in-depth research and quality-led manufacturing processes.
Category: B2B Services
Engages in patient-centric initiatives that extend beyond medication to offer holistic healthcare support.
Core Thesis: The company anchors its diversified pharmaceutical business in a patient-centric approach and operational excellence across various key global markets.
• Research and Development: Robust R&D capabilities are central to the company's pursuit of advanced pharmaceutical solutions and scientific expertise. • Manufacturing Excellence: Underpinned by technology, advanced facilities, and rigorous quality systems, ensuring sustainable and reliable production. • Global Operations: A global network of over 24,000 people operating across 11 countries and six continents. • Quality Systems: A fundamental principle guiding every stage from research to delivery, committed to upholding the highest standards of safety, efficacy, and global compliance.