Lupin Limited announced its Audited Financial Results for the quarter and financial year ended March 31, 2026. The company reported a significant year-on-year growth, with Net Sales reaching ₹73,919 crore, an increase of 33%, and Net Income (PAT) surging by 89% to ₹14,604 crore. EBITDA also saw a substantial rise of 68% YoY to ₹21,711 crore, with the EBITDA margin improving to 29.4% from 23.2% in the previous year. The company's performance was driven by strong growth across its key geographies. North America led with sales of ₹35,145 crore, up 55% YoY. India contributed ₹19,082 crore (up 12% YoY), followed by EMEA at ₹7,806 crore (up 19% YoY), ROW at ₹2,735 crore (up 37% YoY), APAC at ₹3,515 crore (up 9% YoY), LATAM at ₹3,144 crore (up 75% YoY), and API at ₹2,491 crore (up 8% YoY). Key developments during the quarter included the completion of the acquisition of VISUfarma B.V., strengthening its European footprint, and the expansion of its Dabhasa manufacturing facility. Lupin also secured European Commission approval for its biosimilar Ranibizumab (RanluspecTM) and obtained US FDA tentative approvals for Dapagliflozin Tabs and Sugammadex Inj. The company filed 10+ ANDAs in FY26, including two 505(b)(2) applications, and plans to file over 15 in FY27. Lupin aims for over 100 new product launches by FY31, with over 65% of revenue from complex products. Lupin highlighted its commitment to quality and regulatory compliance, with successful FDA inspections and responses submitted for ongoing matters. The company is also focusing on R&D, pivoting towards complex generics and biosimilars, with a target of launching 20 complex products in regulated markets by 2028. Financially, R&D expenditure stood at ₹5,898 crore (8.0% of sales) and Capex at ₹3,052 crore (4.1% of sales) for Q4 FY26. The Net Debt to Equity ratio improved to -0.21.
