MarketFriction

Lincoln Pharmaceuticals Ltd

NSE LINCOLN · BSE 531633 · Pharmaceuticals
₹582.05 -0.61%
NSE close2026-10-01
52 week range440.00 - 770.00
Market cap₹1,170 Cr.
P/E12.1
Price band 20% Delivery 84.7%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales156146142147161147168154163166187177
Expenses125117124125133123141130138143162150
Operating Profit313018232824272425242527
OPM %20%20%13%15%18%16%16%15%16%14%13%15%
Other Income911710109-715715-424
Interest000001000000
Depreciation333333334444
Profit before tax373822293529163529351748
Tax %25%26%16%20%24%28%29%22%31%18%30%24%
Net Profit282819242621122820291236
EPS in Rs13.8014.009.2911.8213.1510.375.7813.829.9814.285.8118.09
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales400360361366386424472510581623671694
Expenses359313308299321337376421480522573593
Operating Profit414753686687969010010298101
OPM %10%13%15%18%17%21%20%18%17%16%15%15%
Other Income7255115102234223342
Interest1075422121211
Depreciation5667788911131415
Profit before tax33374662678496100122109116128
Tax %28%25%25%22%23%26%28%27%24%25%24%
Net Profit242835495162697393828896
EPS in Rs14.5214.0617.3124.3625.7231.1234.6336.4046.5841.1143.8848.16
Dividend Payout %7%9%9%6%6%5%4%4%4%4%4%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth5%10%10%10%
Compounded Profit Growth14%7%7%12%
Stock Price CAGR10%7%4%10%
Return on Equity16%15%14%12%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital161620202020202020202020
Reserves95124172204249293346413482573652738
Borrowings76786461345122104
Other Liabilities705648626371859983106125128
Total Liabilities258275305347366389452534587700797890
Fixed Assets6698103117121123111132151179182191
CWIP3370202167345
Investments0010111834819791139174209
Other Assets190174186219225232259290339379437486
Total Assets258275305347366389452534587700797890
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity2545252753756976396393106
Cash from Investing Activity7-42-25-12-18-31-64-78-37-57-79-98
Cash from Financing Activity-32-30-11-36-38-6-3-4-5-60
Net Cash Flow-1-0-03-17-1-4-2188
Free Cash Flow21117173868613126247482
CFO/OP109%126%74%68%104%137%102%104%77%89%117%135%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1637392111122969890981029788
Inventory Days443663867595861211061019994
Days Payable92405482921021051207795106100
Cash Conversion Cycle116701001151068878911261089082
Working Capital Days76316989113126119113121121116239
ROCE %15%21%19%19%23%22%25%24%22%22%17%16%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters50.53%49.81%49.54%49.78%49.78%49.78%49.78%49.78%49.78%49.78%49.78%49.78%
FIIs2.59%3.22%3.93%3.95%5.19%5.16%5.00%5.13%4.73%4.70%5.20%4.60%
DIIs0.00%0.06%0.05%0.04%0.00%0.00%0.00%0.01%0.01%0.01%1.08%0.27%
Public46.87%46.92%46.49%46.24%45.04%45.07%45.23%45.08%45.49%45.51%43.94%45.36%
No. of Shareholders28,67029,31631,37529,96731,33031,84831,86731,78432,37031,02628,30329,396

Fundamentals

Market Cap₹ 1,170 Cr.
Current Price₹ 584
Stock P/E12.1
Book Value₹ 378
ROCE16.3 %
ROE12.3 %
Dividend Yield0.31 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)10%
Compounded Profit Growth (TTM)12%
Consolidated figures.
Valuation
Market capRs 1,165 Cr
Enterprise valueRs 1,137 Cr
P/E (TTM)12.08x
Price to book1.54x
Price to sales1.68x
EV / EBITDA7.91x
EV / EBIT8.82x
EV / sales1.64x
Price to cash flow10.95x
Earnings yield8.28%
Dividend yield0.31%
P/E, 3-year average13.00x
P/B, 3-year average1.81x
P/E, 5-year average11.07x
P/B, 5-year average1.60x
Profitability
Operating margin (excl. other income)14.56%
Operating margin (incl. other income)19.54%
EBITDA margin20.71%
Pre-tax margin18.41%
Net profit margin13.89%
Net margin, latest quarter20.44%
ROE12.30%
ROCE16.27%
ROA10.42%
ROE, 3-year average14.12%
ROCE, 3-year average18.78%
ROA, 3-year average11.97%
ROE, 5-year average15.06%
ROCE, 5-year average20.49%
ROA, 5-year average12.59%
ROIC (approx.)13.43%
Tax rate23.98%
Other income / net worth4.42%
Growth
Sales growth (latest year)7.67%
Profit growth (latest year)6.73%
Sales CAGR, 3 years9.56%
Sales CAGR, 5 years9.61%
Profit CAGR, 3 years6.43%
Profit CAGR, 5 years7.14%
Sales growth QoQ-5.34%
Profit growth QoQ211.52%
Sales growth YoY (latest quarter)15.06%
Profit growth YoY (latest quarter)30.89%
Per share
EPS (TTM)Rs 48.18
EPS (latest quarter)Rs 18.10
EPS, 3-year averageRs 43.85
EPS, 5-year averageRs 39.68
Book value per shareRs 378.51
Sales per shareRs 346.84
Cash flow per shareRs 53.14
Free cash flow per shareRs 40.97
Dividend per share, 3-year averageRs 1.80
Dividend per share, 5-year averageRs 1.65
Dividends
Dividend payout4.11%
Dividend payout, 3-year average4.12%
Dividend payout, 5-year average4.16%
Efficiency
Asset turnover0.75x
Fixed asset turnover3.51x
Inventory turnover3.88x
Inventory days94 days
Debtor days88 days
Debtors turnover4.16x
Creditor days100 days
Cash conversion cycle82 days
Working capital days239 days
Leverage
Total debtRs 4 Cr
Cash and bankRs 33 Cr
Net debtRs -28 Cr
Debt to equity0.01x
Net debt / EBITDA-0.20x
Interest coverage121.57x
Current ratio (filing 2026-03-31)5.25x
Quick ratio (filing 2026-03-31)4.53x
Trade payables (filing 2026-03-31)Rs 85 Cr
Owners' fund to total sources85.09%
Debt to assets0.50%
Cash flow
Cash from Operating Activity (latest year)Rs 106 Cr
Cash from Investing Activity (latest year)Rs -98 Cr
Cash from Financing Activity (latest year)Rs 0 Cr
Net Cash Flow (latest year)Rs 8 Cr
Free cash flow (latest year)Rs 82 Cr
Cash from ops / profit, 5 years0.93x
Sales to cash flow6.31x
Statement figures
Net sales (TTM)Rs 694 Cr
Net sales (latest year)Rs 671 Cr
Sales (latest quarter)Rs 177 Cr
Operating profit excl. other income (latest year)Rs 98 Cr
Operating profit (latest quarter)Rs 27 Cr
Other income (TTM)Rs 42 Cr
EBITDA (TTM)Rs 144 Cr
PBDT (TTM)Rs 143 Cr
Profit before tax (TTM)Rs 128 Cr
Tax (latest year)Rs 28 Cr
Net profit (TTM)Rs 96 Cr
Net profit (latest year)Rs 88 Cr
Net profit (latest quarter)Rs 36 Cr
Depreciation (TTM)Rs 15 Cr
Depreciation (latest quarter)Rs 4 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 311 Cr
Total expenditure (latest year)Rs 573 Cr
Total income (latest year)Rs 704 Cr
Share capitalRs 20 Cr
ReservesRs 738 Cr
Shareholders' fundsRs 758 Cr
Total assetsRs 890 Cr
Net blockRs 191 Cr
Capital work in progressRs 5 Cr
InvestmentsRs 209 Cr
ReceivablesRs 161 Cr
InventoryRs 80 Cr
Other liabilitiesRs 128 Cr
Shares outstanding (crore)2.00
Ownership
Promoter holding49.78% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 12.1 is at the 50th percentile of its own 9.4-year range (median 12.0, low 5.3, high 18.8).
P/B 1.54 is at the 27th percentile (median 1.74).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodLINCOLNNifty 50Difference
1 week-2.1%-2.8% +0.7 pts
1 month-4.5%-6.8% +2.3 pts
3 months-6.2%-7.6% +1.5 pts
6 months+3.0%+0.4% +2.6 pts
1 year+7.0%-9.9% +16.9 pts
2 years-18.6%-13.6% -5.0 pts
3 years+11.5%+14.2% -2.7 pts
5 years+48.0%+27.9% +20.1 pts
1 mutual fund schemes hold about ₹0 Cr. Over three months 0 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Bandhan BSE Healthcare Index Fund0.04%0 -2%

Red flags

F-score 4 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹177 Cr +14.9% vs Jun 2025. Net profit ₹36 Cr +28.6%.
Against our estimate for Jun 2026: sales +2.5%, profit +40.2% beat. Our estimate for Sep 2026: sales Rs 184 Cr, profit Rs 27 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-11Dividend - Rs 1.80 Per Share
2025-09-12Dividend - Rs 1.80 Per Share
2024-09-13Dividend - Rs 1.80 Per Share
2023-09-15Annual General Meeting/Dividend - Rs 1.50 Per Share
2022-09-15Annual General Meeting/Dividend - Rs 1.50 Per Share
2021-09-16 Dividend - Rs 1.50 Per Share
2020-09-17 Annual General Meeting
2020-03-05 Interim Dividend - Rs 1.5 Per Share
2019-09-19 Dividend - Rs 1.5 Per Share
2018-09-19 Dividend Rs 1.50 Per Share
2017-09-21 Annual General Meeting/Dividend - Rs 1.20 Per Share
2016-09-23 Annual General Meeting/Dividend - Re 1/- Per Share
DateTypeWhat it says
2026-09-30Shareholder meetingProceedings of Annual General Meeting held on September 30, 2026
2026-09-24Change in ManagementChange in Management
2026-09-24Change in ManagementChange in Management
2026-09-05UpdatesIntimation regarding dispatch of physical communication to the Shareholders who have not registered their email address. .
2026-09-05Shareholder meetingNotice of Annual General Meeting to be held on September 30, 2026.
2026-08-29Record DateRecord date for the purpose of Dividend is 11-Sep-2026.
2026-08-13Board meeting outcomeLincoln Pharmaceuticals Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-05-28DividendBoard of Directors at its meeting held on May 28, 2026, recommended Final Dividend of Rs. 1.80 per equity share.
2026-05-28Board meeting outcomeLincoln Pharmaceuticals Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-04-08Reply to Clarification- FinaThe Exchange had sought clarification from Lincoln Pharmaceuticals Limited for the quarter ended 30-Sep-2025 with respect to Regulation 33 of the SEBI...
2026-04-08Disclosure under SEBI TakeovMunjal Mahendrabhai Patel has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Sub...
2026-04-08Disclosure under SEBI TakeovMunjal Mahendrabhai Patel has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Sub...
2026-02-23Concall / analyst meetTranscript of the investor meet held on February 18, 2026.
2026-02-18Concall / analyst meetLink of Recording for the Investor call held today.
2026-02-13Concall / analyst meetSchedule of Earnings Conference Call to discuss the unaudited financial results of the Company for the Quarter and Nine months ended December-2025.
2026-02-12Board meeting outcomeLincoln Pharmaceuticals Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2026-01-10Credit RatingCredit Rating
2026-01-07Clarification - Financial ReThe Exchange has sought clarification from Lincoln Pharmaceuticals Limited for the quarter ended 30-Sep-2025 with respect to Regulation 33 of the SEBI...
2025-11-13Board meeting outcomeLincoln Pharmaceuticals Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
2025-10-28Shareholder meetingMinutes of Annual General Meeting held on September 30, 2025.
2025-10-03Shareholder meetingLincoln Pharmaceuticals Limited has submitted the Exchange a copy of Scrutinizers report of Annual General Meeting held on September 30, 2025.
2025-10-03Shareholder meetingLincoln Pharmaceuticals Limited has submitted the Exchange a copy of Voting Results of Annual General Meeting held on September 30, 2025
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Lincoln Pharmaceuticals Ltd?

Lincoln Pharmaceuticals Ltd (LINCOLN) has a market capitalisation of Rs 1,170 Cr. at the 2026-10-01 close.

What is the P/E ratio of Lincoln Pharmaceuticals Ltd?

Lincoln Pharmaceuticals Ltd trades at a P/E of 12.1 on trailing twelve-month profit, at the 2026-10-01 close.

What were Lincoln Pharmaceuticals Ltd's latest quarterly results?

In the Jun 2026 quarter, Lincoln Pharmaceuticals Ltd sales was Rs 177 Cr (+14.9% vs Jun 2025) and net profit was Rs 36 Cr.

What is the 52-week high and low of Lincoln Pharmaceuticals Ltd?

The 52-week high is Rs 770.00 and the 52-week low is Rs 440.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03