Feb 12, 2026 (MarketLine via COMTEX) --
Lupin Limited reported its financial performance for the quarter ended December 31, 2025.
Pharma major Lupin Limited [BSE: 500257 | NSE: LUPIN] reported its financial performance for the quarter ending December 31, 2025. These unaudited results were taken on record by the Board of Directors at a meeting held today.
Income Statement Highlights – Q3 FY2026
Gross Profit was INR 52,224 Mn compared to INR 38,970 Mn in Q3 FY2025, with a gross margin of 73.5%.
Personnel cost was 16.1% of sales at INR 11,433 Mn compared to INR 9,844 Mn in Q3 FY2025.
Manufacturing and other expenses were 27.3% of sales at INR 19,366 Mn compared to INR 16,959 Mn in Q3 FY2025.
Adjusted PBT at INR 15,220 Mn at 21.4%, up 42.1% YoY from INR 10,713 Mn in Q3 FY2025.
PBT (excluding exceptional items) is INR 19,486 Mn at 27.4%.
We have provided net one-time exceptional items of INR 4,266 Mn.
Investment in R&D for the quarter was INR 5,352 Mn (7.5% of sales).
Balance Sheet highlightsOperating working capital was INR 79,481 Mn as on December 31, 2025.
Capital Expenditure for the quarter was INR 2,007 Mn.
Net Debt as on December 31, 2025, stands at INR -28,793 Mn.
Net Debt Equity as on December 31, 2025, stands at -0.14.
Commenting on the Q3FY26 results, Mr. Nilesh Gupta, Managing Director, Lupin Limited said "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."Consolidated Financial Results Q3 FY2026
Operational Highlights
U.S.
U.S. sales for Q3 FY2026 were INR 31,132 Mn up 54.0% compared to INR 20,221 Mn in Q3 FY2025; (USD 350 Mn in Q3 FY2026 compared with USD 240 Mn in Q3 FY2025); accounting for 44% of Lupin's global sales.
The Company received 1 ANDA approvals from the U.S. FDA, and launched 3 products in the quarter in the U.S. The Company now has 149 generic products in the U.S Market.
Lupin continues to be the 3rd largest pharmaceutical player in both U.S. generic market and U.S. total market by prescriptions (IQVIA Qtr. TRx Dec 2025). Lupin is the leader in 55 of its marketed generics in the U.S. and amongst the Top 3 in 116 of its marketed products (IQVIA Qtr Dec 2025 by extended units).
India
India sales for Q3 FY2026 were INR 20,387 Mn, up 5.6% compared to INR 19,305 Mn in Q3 FY2025; accounting for 29% of Lupin's global sales. India Region Formulation sales up by 10.9% in the quarter as compared to Q3 FY2025.
The Company launched 3 brands across therapies during the quarter. Lupin is the 8th largest company in the Indian Pharmaceutical Market (IQVIA MAT Dec 2025).
Other Developed Markets
Other Developed markets sales for Q3 FY2026 were INR 8,121 Mn, up 10.8% compared to INR 7,328 Mn in Q3 FY2025; accounting for 11% of Lupin's global sales.
Emerging Markets
Emerging Markets sales for Q3 FY2026 were INR 9,170 Mn, up 42.4% compared to INR 6,441 Mn in Q3 FY2025; accounting for 13% of Lupin's global sales.
Global API
Global API sales for Q3 FY2026 were INR 2,195 Mn, down 24.1% compared to INR 2,891 Mn in Q3 FY2025; accounting for 3% of Lupin's global sales.
Research and Development
Investment in R&D was INR 5,352 Mn (7.5% of sales) for the quarter as compared to INR 4,412 Mn (7.9% of sales) for Q3 FY2025.
Lupin received approval for 1 ANDAs from the U.S. FDA in the quarter. Cumulative ANDA filings with the U.S. FDA stand at 431 as of December 31, 2025, with the company having received 341 approvals to date.
The Company now has 52 First-to-File (FTF) filings including 22 exclusive FTF opportunities. Cumulative U.S. DMF filings stand at 93 as of December 31, 2025.
http://www.datamonitor.com
Republication or redistribution, including by framing or similar means,
is expressly prohibited without prior written consent. Datamonitor shall
not be liable for errors or delays in the content, or for any actions
taken in reliance thereon
COMTEX_475446188/2227/2026-03-17T17:37:10
Copyright (C) 2026 Datamonitor. All rights reserved
