* Lupin released its investor presentation for the unaudited financial results for the quarter and half year ended September 30, 2025. * Q2 FY26 Performance: * Sales: ₹68,314 million, up 24% YoY * EBITDA: ₹21,376 million, up 63% YoY, with a margin of 31.3% * Net Income: ₹14,779 million, up 73% YoY, with a margin of 21.6% * Key Developments: * Consistent improvement in margins. * Launched Liraglutide Inj. (gVictoza®) & Risperidone Inj. 25/37.5/50mg (gRisperdal Consta®) in the US. * Response submitted for Nagpur Unit -II & Pune Biotech. * PAI inspection completed at Aurangabad (response submitted) & Somerset (response in progress). * Pithampur Unit -II: OAI; Pithampur Unit -III: VAI. * Strengthened Global Specialty Ophthalmology with VISUfarma acquisition. * Out-license partnership with Sandoz for Ranibizumab Biosimilar across multiple regions. * Launched Strategic partnership program expanding PrecisionSphere Long -Acting Injectable platform developed by Nanomi. * Financial Snapshot: * India sales: ₹20,777 million, up 3% YoY * North America sales: ₹28,720 million, up 46% YoY * US sales includes IP income. * Other Emerging Markets comprises of LATAM, South Africa, Philippines & RoW. * EBITDA excludes Fx and Other income. * Net income is after adjusting NCI stake from PAT. * India Business: * India Rx business grew by 8.8% vs IPM growth of 7.2% in Q2FY26. * Key segments - Cardiology (1.5x), Respiratory (1.5x) & GI (6x) grew faster than market during the quarter. * Planned launches of 20+ Products in FY26. * US Business: * Highest quarterly sales recorded since Q3 FY17. * Growth driven by NPLs offset by additional Gx competition in base business. * Successful launch of Glucagon & Liraglutide (gVictoza ®) during quarter. * Plans to file 15+ Products in FY26 (2/3rd in CGx). * Strong pipeline of 45+ Injectables and 20+ inhalation. * Target of 100+ NPLs; ~65%+ share of NPL Revenue from Complex Products by FY31.
