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LUPIN

NOTLISTED

INE326A01037

Lupin Limited

Main Board

Equity

2025-04-01

2026-03-31

2026-05-07

2026-04-22

INR

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Quarterly

Fourth quarter

Multi segment

2026-05-07

13:45:00

2026-05-07

19:25:00

true

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Declaration of unmodified opinion

2026-01-01

2026-03-31

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1. The above Consolidated 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 May 07, 2026. 2. The Consolidated Financial Results include the financial results of the subsidiaries, Lupin Pharmaceuticals, Inc. - U.S.A., Lupin Australia Pty Limited - Australia, Nanomi B.V. - Netherlands, Pharma Dynamics (Proprietary) Limited - South Africa, Hormosan Pharma GmbH - Germany, Multicare Pharmaceuticals Philippines Inc. - Philippines, Lupin Atlantis Holdings SA - Switzerland, Lupin Healthcare (UK) Limited - U.K., Lupin Pharma Canada Limited - Canada, Generic Health Pty Limited - Australia, Lupin Mexico S.A. de C.V. - Mexico, Lupin Philippines Inc. - Philippines, Lupin Diagnostics Limited - India, Generic Health SDN. BHD. - Malaysia, Lupin Inc. - U.S.A., Laboratorios Grin S.A. de C.V. - Mexico, Medquimica Industria Farmaceutica LTDA - Brazil, Novel Laboratories, Inc.- U.S.A., Lupin Research Inc. - U.S.A., Lupin Management Inc. - U.S.A, Lupin Europe GmbH - Germany, Lupin Biologics Limited - India, Lupin Oncology Inc. - U.S.A, Lupin Digital Health Limited - India, Avenue Coral Springs LLC - U.S.A., Southern Cross Pharma Pty Ltd - Australia, Lupin Life Sciences Limited - India (formerly known as Lupin Atharv Ability Limited - India), Lupin Manufacturing Solutions Limited - India, Medisol S.A.S. - France, Lupin Lanka (Private) Ltd. - Sri Lanka (w.e.f. August 05, 2024), Lupin NZ Ltd. - New Zealand (w.e.f. August 08, 2024), Lupinlife Consumer Healthcare Limited - India (w.e.f. March 08, 2025), Renascience Pharma Limited - U.K. (w.e.f. April 02, 2025) and a joint venture, YL Biologics Limited - Japan. 3. The Consolidated Financial Statements are prepared in accordance with Ind AS 110 "Consolidated Financial Statements" and Ind AS 28 "Investments in Associates and Joint Ventures". 4. The Board of Directors have, at its meeting held on May 07, 2026 recommended a dividend of Rs. 18/- per equity share of the face value of Rs. 2/- each aggregating Rs. 8,229.2 million. The recommended dividend is subject to the approval of the shareholders at the ensuing Annual General Meeting. 5. During the quarter ended March 31, 2026, 380,305 (year to date 614,066) 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. 0.7 million (year to date Rs. 1.2 million) and securities premium account by Rs. 463.2 million (year to date Rs. 719.7 million). 6. Exceptional items a. The Group is exposed to multiple civil lawsuits alleging anticompetitive behavior related to certain products and possible violation of federal and state antitrust laws that are often resolved through settlement agreements. These lawsuits were combined into the collection of similar cases referred to as In Re Generic Pharmaceuticals Antitrust Litigation. Such litigation are often resolved through settlement agreements. During the quarter ended March 31, 2026 and December 31, 2025; the Group has based on best estimate, created a provision, of Rs. 1,323.1 million (USD 15.8 million) and of Rs. 4,493.8 million (USD 50 million) respectively, resulting in cumulative provision of Rs. 5,816.9 million (USD 65.8 million) at year ended March 31, 2026 related to antitrust litigation matters. In April 2026, LPI, a wholly owned subsidiary of the Group, settled one of the ongoing antitrust matters for an amount of Rs. 2,654.1 million (USD 30.0 million) without admission of liability or wrongdoing. The remaining provision continues to be carried by the Group towards future settlements related to similar cases. 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. In respect of the same, LPI paid Rs. 8,475.5 million (USD 90.0 million), which includes Rs. 7,110.8 million (USD 75.0 million) as Prepaid Option and Rs. 1,364.7 million (USD 15.0 million) as one-time payment towards the settlement. During the quarter ended December 31, 2025 and year ended March 31, 2026, the Group has expensed out Rs. 1,364.7 million (USD 15.0 million) and has capitalised the balance amount towards Prepaid Option. 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 Group has assessed the implications of the New Labour Codes and has recognized an incremental cost of Rs. 512.2 million during the quarter ended December 31, 2025 and year ended March 31, 2026. The Group 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 December 31, 2025 and year ended March 31, 2026, the Group entered into a settlement agreement with an income of Rs. 873.7 million (USD 10.0 million). e. During the quarter ended December 31, 2025 and year ended March 31, 2026, the Group has received an arbitration award, consequently accounted an income of Rs. 603.2 million (USD 6.9 million) and a reversal of expense provision of Rs. 611.6 million (USD 7.0 million). 7. During the year ended March 31, 2026, the Company through its wholly owned subsidiary Nanomi B.V., Netherlands (‘Nanomi’) has entered into a definitive agreement to acquire 100% share capital of VISUfarma B.V., Netherlands. The acquisition was concluded on April 01, 2026, with total consideration of Rs. 20,902.7 million (Euro 192.8 million). The acquisition related costs are accounted in "Other expenses". 8. During the year ended March 31, 2026, the Company through its wholly owned step-down subsidiary, Lupin Healthcare (UK) Limited, U.K., acquired 100% equity share capital of Renascience Pharma Limited, U.K., for a consideration of Rs. 1,361.6 million (GBP 12.3 million). Fair value of intangibles acquired Rs. 1,239.4 million, deferred tax liability Rs. 309.8 million, Goodwill Rs. 325.9 million has been accounted based on report of independent valuer. The acquisition related costs are accounted in "Other expenses". 9. During the year ended March 31, 2025, Lupin Limited and its subsidiary, agreed to settle the dispute for an amount of USD 9.0 million (Rs. 750.5 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. 10. During the quarter and year ended March 31, 2026 & quarter and year ended March 31, 2025, the Group has recognised an impairment charge of Rs. 879.1 milion and Rs. 1,130.1 milion & Rs. 1,135.3 milion and Rs. 1,209.0 milion respectively related to certain property, plant and equipment, capital work-in-progress, intangible assets, intangible assets under development and goodwill.

2025-04-01

2026-03-31

Audited

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BSR & Co. LLP

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2028-07-31