Lupin Q4 FY26: U.S.-led growth lifts margins and profit

Q4 FY26 net sales were INR 73,919 million, EBITDA (excluding forex and other income) was INR 21,711 million with 29.4% margin, and net income (after adjusting NCI) was INR 14,604 million.

FY26 net sales were INR 274,875 million, EBITDA (excluding forex and other income) was INR 81,595 million with 29.7% margin, and net income (after adjusting NCI) was INR 53,329 million.

Management guided high single digit revenue growth (rupee terms) and EBITDA margin around 25% for FY27; R&D expected around 8% of sales; FY27 ETR expected at 25% to 26%.

Management expects US launches including products such as GPB (Ravicti) and biosimilar related ramps to support performance, while factoring potential competition in Mirabegron and Tolvaptan.

The company concluded the VISUfarma acquisition on April 01, 2026. Management stated it expands European presence into Italy and Spain and can help the business cross USD 100 million in 2 to 3 years.

Goa site received EIR with VAI status. Responses were submitted for Ankleshwar and Somerset (PAI). Pithampur Unit II remains OAI with remediation in progress.