Lupin Q2 Results | EBITDA Grows 74.7% YoY to ₹2,341.7 Crore, Revenue Sees Strong Growth

Pharmaceutical company Lupin Ltd reported a steady performance in its second-quarter results for FY26, reflecting improved profitability and strong revenue momentum across key markets.

Strong Growth in Profit and Revenue

For the quarter ended September 2025, the company recorded a 73.3% year-on-year increase in net profit to ₹1,478 crore, compared with ₹852.6 crore in the same quarter last year. 

Revenue from operations rose 24.2% year-on-year to ₹7,047.5 crore, up from ₹5,672.7 crore in Q2 FY25. The performance was supported by broad-based growth in the domestic market as well as key international segments.

Robust Operating Performance

Earnings before interest, tax, depreciation, and amortisation (EBITDA) for the quarter stood at ₹2,341.7 crore, marking a 74.7% rise from ₹1,340.5 crore a year earlier. The EBITDA margin improved to 33.2%, compared with 23.6% in the same quarter last year, reflecting stronger operational efficiency and cost management. 

Gross profit also increased to ₹5,006.6 crore, with a margin of 73.3%. Personnel costs accounted for 16.2% of sales, while manufacturing and other expenses formed 29% of sales. Profit before tax rose 90.3% year-on-year to ₹2,007 crore, representing a margin of 29.4%. 

Investment in research and development stood at ₹509.1 crore, amounting to 7.5% of sales, showing continued focus on innovation and product development.

Balance Sheet and Operational Metrics

As of September 30, 2025, operating working capital stood at ₹7,730.4 crore. The company reported capital expenditure of ₹347.4 crore during the quarter, while net debt remained negative at ₹1,664.6 crore, resulting in a net debt-to-equity ratio of -0.08.

Lupin Share Price Performance

As of November 06, 2025, Lupin Share Price closed at ₹1,956, down by 2.08% on the NSE. The company’s market capitalisation stood at ₹89,268 crore, with a price-to-earnings (P/E) ratio of 24.1 and a book value of ₹377. Over the past year, Lupin Share Price has traded between a high of ₹2,403 and a low of ₹1,774. 

The stock offers a dividend yield of 0.61%, with a return on capital employed (ROCE) of 21.3% and a return on equity (ROE) of 20.6%. The face value of the stock is ₹2.00.

Read More:Lupin Launches Authorised Generic of Ravicti® in the US

Conclusion

The company’s Q2 performance reflects stable demand and improved operational efficiency. Higher revenue, stronger margins, and a healthy balance sheet indicate steady progress across business segments. 

With sustained investment in research and development, the company continues to strengthen its presence in both domestic and international markets.

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