Lupin Ltd. Share Price

Lupin Q2 profit falls 22% as margins contract

Lupin Limited (NSE: LUPIN) reported Q2 FY27 sales of ₹7,785.5 crore, up 14% year-on-year. However, consolidated profit after tax declined 22.2% to ₹1,155.3 crore. EBITDA fell 10.7% to ₹2,171.2 crore. EBITDA margin declined from 35.6% to 27.9%, a contraction of 770 basis points. The decline came despite higher sales. The key concern is the gap between revenue growth and profit growth. Employee costs increased 28.8% year-on-year, while manufacturing and other expenses increased 23.2%. Depreciation and impairment expenses also rose 53.4%. These cost increases need to be monitored because they are reducing the benefit of higher sales. India sales grew 14.7%, while US sales increased 9.3%. Other developed markets recorded stronger growth of 45.7%. This indicates that demand remains supportive across important markets, but cost control is now central to earnings performance. My view: Lupin's revenue growth remains healthy, but the margin decline makes the quarter mixed rather than unambiguously positive. The next result should be assessed for recovery in EBITDA margin and moderation in operating expenses. What to watch next: EBITDA margin, employee cost as a percentage of sales, and US business growth in Q3 FY27. Stance: Track margin recovery before drawing a stronger conclusion on earnings momentum. LUPIN

Lupin Profit Falls 22% Despite Strong US Business Growth

LUPIN has reported a mixed Q2 FY27 performance, and there's an important detail investors should not overlook. The pharmaceutical company reported a 22.2% year-on-year decline in consolidated net profit to ₹1,155 crore. However, revenue increased 11.1% to ₹7,827 crore. But here's an interesting development. Lupin launched Raltegravir Tablets USP 600 mg in the US after receiving approval from the US FDA. The company is the exclusive first-to-file applicant and is eligible for 180 days of generic drug exclusivity. Why does this matter? Generic drug exclusivity can provide a temporary competitive advantage, allowing a company to capture market share before other generic competitors enter. For Indian pharmaceutical companies, the US market is important because successful product launches can create additional revenue opportunities. However, investors should also track pricing pressure, competition and the sustainability of US business margins. For me, the interesting part of Lupin's story is the contrast between declining quarterly profit and new opportunities in the US generics market. The next few quarters will show whether new launches can translate into stronger earnings growth.

LUPIN: US GENERICS AND PRODUCT PIPELINE IN FOCUS

LUPIN is worth tracking as investors assess its September-quarter results and outlook for the pharmaceutical business. The company has exposure to the Indian pharmaceutical market as well as international markets, particularly the United States. Key factors to monitor: - US formulation sales - Domestic formulation growth - Product approvals and launches - Regulatory compliance and manufacturing updates - Research expenditure and operating margins My view: The pharmaceutical business offers opportunities through new product launches and international expansion, but pricing pressure and regulatory risks remain important. Investors should focus on the quality and sustainability of earnings rather than revenue growth alone. The quarterly results and management commentary will be important for understanding the next phase of performance. Research disclosure : This content is for informational and research purposes only and should not be construed as personalised investment advice. Investors should conduct their own due diligence and consider their risk tolerance before making investment decisions.

Lupin Q2 profit falls 22% despite sales growth

Lupin Limited (NSE: LUPIN) reported a mixed Q2 FY27 performance, with revenue from operations increasing 11.1% YoY to ₹7,827 crore. However, consolidated net profit declined 22.2% to ₹1,155 crore, compared with ₹1,485 crore in the corresponding quarter last year. Key Highlights • Product sales increased 14% YoY to ₹7,786 crore. • EBITDA declined 10.7% to ₹2,171 crore. • EBITDA margin contracted to 27.9% from 35.6%, a decline of 770 basis points. • US sales grew 9.3% to ₹3,020 crore. • India sales increased 14.7% to ₹2,384 crore. • Other Developed Markets recorded strong growth of 45.7%. • R&D investment stood at ₹618 crore, representing 7.9% of sales. My View Lupin's Q2 results present a clear contrast between healthy revenue growth and declining profitability. Growth in India, the US and other developed markets is encouraging. However, the 770-basis-point contraction in EBITDA margin is a concern. Employee costs increased 28.8%, while manufacturing and other expenses rose 23.2%. These cost pressures affected operating profitability despite healthy sales growth. The company's continued investment in R&D and product approvals remains important for its long-term growth pipeline. What I'm Watching Next I will monitor EBITDA margin recovery, US product launches, India market growth and the company's ability to control operating expenses. A return towards previous margin levels will be important for sustainable earnings growth. Stance: Cautiously positive on revenue growth and market expansion, but cautious about margin compression and declining profitability. Disclosure: I do not have any holding or position in the stock mentioned above. LUPIN

Stocks to Watch Today: Lupin, SPML Infra & Rose Merc

Lupin, SPML Infra and Rose Merc could see stock-specific action today following key business developments. 1. Lupin Lupin has launched Raltegravir Tablets USP, 600 mg in the US after receiving US FDA approval for its ANDA. The drug is indicated for HIV-1 treatment in adult and eligible pediatric patients, in combination with other antiretroviral agents. Lupin is the exclusive first-to-file for this product and is eligible for 180-day generic drug exclusivity. 2. SPML Infra SPML Infra has secured an order worth ₹186.41 crore from POWERGRID for the extension of the 765/400/220 kV Bhadla-III Substation and Ramgarh Pooling Station. 3. Rose Merc Rose Merc has signed a Lead Marketing, Sales and Project Collaboration Agreement with CATS Eco Systems. The collaboration aims to explore business opportunities in marketing, sales and project development of CATS Eco Systems’ approved products, supporting expansion and potential revenue growth. Other Key Updates Indian Energy Exchange (IEX): October 2026 electricity traded volume rose 16.5% YoY to 13,092 MU. RTM volume increased 23.7%, while DAM volume declined 3.8%. Minda Corporation: Board approved an additional investment of up to ₹37 crore in its 50:50 JV, Minda HCMF Technologies. Total investment is expected to reach around ₹60 crore. Amtech Esters: Commenced commercial production at its new Haryana facility, with installed UPR capacity of 4,800 MTPA. Aaron Industries: Reported its highest-ever monthly sales of ₹11.66 crore in October 2026 (provisional and unaudited). Market takeaway: These company-specific developments may drive interest, but price action will also depend on broader market conditions, liquidity and investor sentiment.

Lupin Q2 profit falls 22.2%, support at 1,896

Lupin Q2 FY27 profit fell 22.2% to Rs 1,155.3 crore on a one-time charge, with support at Rs 1,896 and resistance at Rs 2,135. Lupin Limited [ LUPIN ] reported Q2 FY27 results on 4 November, with consolidated profit down 22.2% on a one-time charge. The stock was at Rs 2,015.90, about 6.5% above its 23 October low. Profit fell to Rs 1,155.3 crore from Rs 1,484.8 crore, after an exceptional charge of Rs 316.3 crore for a US antitrust settlement. Revenue grew 11.1% to Rs 7,827.3 crore from Rs 7,047.5 crore. India sales rose 14.7% and US sales rose 9.3%. Operating margin narrowed to 27.9% from 35.6%. The chart shows a persistent decline from the Rs 2,529.50 high on 16 July, with lower highs and lower lows. The fall reached 25.17% by the Rs 1,892.90 low on 23 October, and buyers have since stepped in at the lower level. Price has broken above the previous swing high and is holding above it. Support is Rs 1,896. Resistance is Rs 2,135. A close above Rs 2,135 would confirm the reversal. A close below Rs 1,896 would resume the decline. The results can add volatility, so volume on today’s reaction is the key signal. Disclaimer: I do not hold any position in this stock. This is not a recommendation to buy or sell. Investments in securities markets are subject to market risks. Read all related documents carefully before investing.