Lupin LUPIN
US complex generics (inhalation, injectables), India branded formulations and specialty assets
Mapped in 1 theme: Pharmaceuticals.
Where Lupin sits in the supply chain
Lupin appears in 2 supply-chain layers in one theme, Pharmaceuticals.
Pharmaceuticals › Specialty & innovation (R&D)
OwnerOther companies in this layer
Pharmaceuticals › Generics (US & export)
Direct supplierOther companies in this layer
Revenue and profit
| ₹ Cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 20,011 | 22,708 | 27,958 |
| Net profit | 1,936 | 3,306 | 5,355 |
Latest-year revenue ₹27,958 Cr (FY26, company-wide). Wider screens show FY22 onwards.
Strengths
- Turnaround complete: FY26 net profit ₹5,355 Cr vs a FY22 loss, with high ROCE
- Leading US respiratory generics (gSpiriva, albuterol) and limited-competition launches (tolvaptan, mirabegron)
- Growing India chronic business and European specialty (VISUfarma ophthalmics)
Risks
- US profit concentration in a few products that will see more competitors
- US generic tariff schedule from Aug 2028 for India-made product
- USFDA status at Pithampur, Mandideep and other sites
Common questions
What does Lupin do?
US complex generics (inhalation, injectables), India branded formulations and specialty assets.
Where does Lupin sit in the supply chain?
Lupin (NSE: LUPIN) is mapped in 2 supply-chain layers: Specialty & innovation (R&D) (Pharmaceuticals) and Generics (US & export) (Pharmaceuticals).
Who are Lupin's peers?
In the Generics (US & export) layer of Pharmaceuticals: Dr Reddy's Laboratories, Aurobindo Pharma, Zydus Lifesciences, Cipla, Sun Pharmaceutical Industries, Alembic Pharmaceuticals and 6 more.
What is Lupin's market cap and valuation?
As of 30 Oct 2026: market cap ₹91,589 Cr, P/E 15.4x, ROCE 29.9%, ROE 28.7%, dividend yield 0.90%.