Lupin Limited announced robust financial results for the quarter ending December 31, 2025 (Q3 FY2026), reporting total sales of INR 71,005 Mn, marking a 26.4% increase year-over-year (YoY). EBITDA surged by 68.6% to INR 23,766 Mn. Managing Director Mr. Nilesh Gupta highlighted that the performance was driven by the highest-ever quarterly sales in the U.S. and strong double-digit growth across other key regions, putting the company on track for a strong fiscal year close.
Lupin Announces Q3 FY2026 Financial Performance
Pharma major Lupin Limited reported its unaudited financial results for the quarter ending December 31, 2025. The company delivered strong growth, with Total Product Sales reaching INR 71,005 Mn, a significant jump of 26.4% compared to the INR 56,186 Mn recorded in Q3 FY2025.
Quarterly Financial Highlights (Consolidated IND-AS)
The performance across key metrics showed substantial year-over-year improvement:
- Sales: Increased 26.4% YoY to INR 71,005 Mn from INR 56,186 Mn. Quarter-over-quarter (QoQ) sales grew by 3.9%.
- EBITDA: Saw a remarkable surge of 68.6% YoY, reaching INR 23,766 Mn, up from INR 14,098 Mn in the previous year.
- EBITDA Margin: Improved by 840 basis points (bps) YoY to settle at 33.5%.
- Adjusted PBT: Grew 42.1% YoY to INR 15,220 Mn.
- PAT: Rose 37.4% YoY to INR 11,805 Mn.
The company noted that Gross Profit was INR 52,224 Mn, resulting in a gross margin of 73.5%.
Operational Segment Performance
Growth was broad-based across geographies, led by the U.S. market:
- U.S. Sales: Grew by an impressive 54.0% YoY to INR 31,132 Mn, accounting for 44% of global sales. The company launched 3 products and now holds 149 generic products in the U.S. market.
- India Sales: Increased by 5.6% YoY to INR 20,387 Mn (29% of global sales). India Region Formulation sales grew by 10.9% over Q3 FY2025.
- Other Developed Markets: Sales were INR 8,121 Mn, up 10.8% YoY (11% of global sales).
- Emerging Markets: Showed strong momentum, climbing 42.4% YoY to INR 9,170 Mn (13% of global sales).
- Global API Sales: Decreased by 24.1% YoY to INR 2,195 Mn (3% of global sales).
Research, Development, and Balance Sheet
Investment in R&D for the quarter stood at INR 5,352 Mn (7.5% of sales). The company secured 1 ANDA approval from the U.S. FDA during the quarter, bringing cumulative approvals to 341 out of 431 filings as of December 31, 2025.
The balance sheet remains strong with Net Debt as of the quarter-end standing at a negative figure of INR -28,793 Mn, indicating net cash position.
Management Commentary
Mr. Nilesh Gupta stated, “We are happy to deliver another quarter of strong growth led by our highest ever quarterly sales in the US and double-digit growth in India and all other regions. We are on track to deliver a strong close to FY26.”
Source: BSE
