Integrated Filing — IndAS



General information about company

Scrip Code 500257
NSE Symbol LUPIN
MSEI Symbol NOTLISTED
ISIN INE326A01037
Name of company Lupin Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 12-02-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 28-01-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Third quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Single segment
Description of single segment Pharmaceuticals
Start date and time of board meeting 12-02-2026   18:30:00
End date and time of board meeting 12-02-2026   20:40:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
The disclosure for the default on Loans and Debt Securities is not applicable to the Company.



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
1 Income
Revenue from operations 4,50,119.00 14,27,806.00
Other income 9,980.00 22,394.00
Total income 4,60,099.00 14,50,200.00
2 Expenses
(a) Cost of materials consumed 90,955.00 2,68,283.00
(b) Purchases of stock-in-trade 29,613.00 91,774.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (1,752.00) 3,817.00
(d) Employee benefit expense 63,151.00 1,88,423.00
(e) Finance costs 3,602.00 8,270.00
(f) Depreciation, depletion and amortisation expense 17,868.00 53,013.00
(f) Other Expenses
1 Other Expenses (refer note 4) 1,13,218.00 3,54,923.00
2 Net (gain) / loss on foreign currency transactions (6,734.00) (31,609.00)
Total other expenses 1,06,484.00 3,23,314.00
Total expenses 3,09,921.00 9,36,894.00
3 Total profit before exceptional items and tax 1,50,178.00 5,13,306.00
4 Exceptional items (63,384.00) (4,116.00)
5 Total profit before tax 86,794.00 5,09,190.00
6 Tax expense
7 Current tax 14,140.00 88,017.00
8 Deferred tax 909.00 886.00
9 Total tax expenses 15,049.00 88,903.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 71,745.00 4,20,287.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 71,745.00 4,20,287.00
17 Other comprehensive income net of taxes (588.00) (2,359.00)
18 Total Comprehensive Income for the period 71,157.00 4,17,928.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 9,137.00 9,137.00
Face value of equity share capital 2 2
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 15.71 92.02
Diluted earnings (loss) per share from continuing operations 15.67 91.78
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 15.71 92.02
Diluted earnings (loss) per share from continuing and discontinued operations 15.67 91.78
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1. The above Standalone Financial Results were reviewed by the Audit Committee and thereafter approved and taken on record by the Board of Directors at their meeting held on February 12, 2026. The Statutory Auditors of the Company have carried out limited review of the above Standalone Financial Results pursuant to Regulation 33 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. 2. During the quarter ended December 31, 2025, 40,938 year to date 233,761 equity shares of Rs. 2- each, fully paid-up, were allotted upon exercise of the vested stock options pursuant to the Lupin Employees Stock Option Plans ESOPs, resulting in an increase in the paid-up equity share capital by Rs. 0.1 million year to date Rs. 0.5 million and securities premium account by Rs. 40.9 million year to date Rs. 256.5 million. 3. Exceptional items a. Lupin Limited and its US subsidiary were named in class action and individual cases related to Antitrust Litigations for certain products. The Company intends to settle the matter with certain parties without admitting any liability for any wrongdoing and accordingly has created a provision of Rs. 4,493.9 million USD 50.0 million during the quarter and nine months ended December 31, 2025. b. On February 09, 2026, Lupin Limited and its subsidiary entered into a settlement agreement with Astellas towards ongoing dispute related to Mirabegron ER Tablets a generic version of Myrbetriq ER Tablets in US markets. The Company has agreed to pay USD 90.0 million, which includes USD 75.0 million towards Prepaid Option. During the quarter and nine months ended December 31, 2025 the Company has provided Rs. 1,348.1 million USD 15.0 million for one time payment towards this settlement. c. The Government of India has consolidated 29 existing labour legislations into a unified framework comprising four labour codes as follows: Code on Wages, 2019, Code on Social Security, 2020, Industrial Relations Code, 2020 and Occupational Safety, Health and Working Conditions Code, 2020 collectively referred to as the New Labour Codes. The New Labour Codes are effective from November 21, 2025 and introduce changes that include, among other things, setting a uniform definition of wages. The Company has assessed the implications of the New Labour Codes and has recognized an incremental cost of Rs. 496.4 million during the quarter and nine months ended December 31, 2025. The Company continues to monitor the developments pertaining to the New Labour Codes and the impact, if any, will be accounted in accordance with applicable accounting standards. d. During the quarter ended September 30, 2025 and nine months ended December 31, 2025, the Company transferred its Over the Counter OTC and API RandD business in India to its wholly owned subsidiaries Lupinlife Consumer Healthcare Limited and Lupin Manufacturing Solutions Limited respectively, as a going concern on slump sale basis for a consideration of Rs. 8,200.0 million and Rs. 180.0 million resulting in gain on divestment of Rs. 6,589.6 million and Rs. 37.2 million respectively, subject to working capital adjustments. e. During the quarter ended September 30, 2025 and nine months ended December 31, 2025, the Company has determined that the carrying value of investment in a subsidiary is higher than the recoverable amount and has provided for diminution in the value of investment of Rs. 700.0 million. During the quarter, nine months ended December 31, 2024 and year ended March 31, 2025, the Company had provided for diminution in the value of investments in subsidiaries of Rs. 772.2 million. 4. During the nine months ended December 31, 2024 and year ended March 31, 2025, Lupin Limited and its subsidiary, agreed to settle the dispute for an amount of Rs. 750.5 million USD 9.0 million in connection with the drug Glumetza� without admitting any liability for any wrongdoing, with a view to avoid the costs and uncertainties of continued litigation. 5. During the year ended March 31, 2025, the Company has recognised an impairment charge of Rs. 410.9 million related to property, plant and equipment, commercialised intangibles and capital work in progress.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-10-2025 01-04-2025
Date of end of reporting period 31-12-2025 31-12-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 (i) Items that will not be reclassified subsequently to profit or loss (774.00) 154.00
Total Amount of items that will not be reclassified to profit and loss (774.00) 154.00
2 Income tax relating to items that will not be reclassified to profit or loss (270.00) 54.00
3 Amount of items that will be reclassified to profit and loss
1 (i) Items that will be reclassified subsequently to profit or loss (129.00) (3,780.00)
Total Amount of items that will be reclassified to profit and loss (129.00) (3,780.00)
4 Income tax relating to items that will be reclassified to profit or loss (45.00) (1,321.00)
5 Total Other comprehensive income (588.00) (2,359.00)