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Informist, Friday, Nov. 7, 2025

 

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--Lupin: Building own mfg capacity to compete against upcoming peptide pdts 
--CONTEXT: Comments by Lupin's mgmt in post-earnings concall with analysts 
--Lupin: Continue to expand specialty products business 
--Lupin: Acquired company VISUfarma to add $150 mln to revenue in FY27 
--Lupin: VISUfarma to add signficantly to Europe sales growth ging forward  
--Lupin: FY26 EBITDA margin seen at 25-26% vs 24-25% guided earlier
--Lupin: FY27 EBITDA margin seen at 24-25% 
--Lupin: Have strong product portfolio to drive growth in Europe 

 

By Narayana Krishna and Akshat Saksena

 

HYDERABAD/MUMBAI – Lupin Ltd. on Friday upgraded its 2025-26 (Apr-Mar) earnings before interest, tax, depreciation, and amortisation margin guidance to 25-26% from 24-25% guided earlier due to robust sales of some products in India and expected growth in the US and Europe, the company's management said in a post-earnings analyst call.

 

For FY27, the company is expecting EBITDA margin to be 24-25%, as the research and development spend may go up in the early part of the financial year.

 

For September quarter, Lupin has reported its EBITDA margin at 35.6% against 25.2% a year ago, a significant jump led by high-margin new product launches across markets. The company reported a consolidated net profit of INR 14.78 billion, up 73% on year. This is considerably higher than the consensus estimate of INR 11.65 billion. The company's consolidated revenue for the September quarter stood at INR 70.48 billion, up just over 24% on year. Analysts had forecast Lupin's top line to grow around 15% on year to INR 65.21 billion.

The company's management is expecting robust growth in European markets, driven by a strong product portfolio. Lupin is expecting revenue addition of around $150 million to Europe sales from its recently acquired Dutch specialty pharma product company VISUfarma. Lupin announced acquisition of VISUfarma in September with an investment of 190 million pounds (approximately INR 22 billion). The company is expecting to complete the acquisition by the end of December.

 

"This quarter's (Jul-Sept) results were driven by broad-based growth across all our key markets, exceptional growth in the US supported by continued exclusivity for Tolvaptan tablets and strong momentum in India, and solid contributions from both developed and emerging markets," Lupin's management said. 

The company reported highest ever revenue in the US for the September quarter, led by new product launches like Tolvaptan, where it continued to enjoy first-to-file exclusivity, and also products like Mirabegron and generic Spiriva. Lupin said with the significant number of product approvals in complex generics segment, the share of these products may double going forward to drive the US growth. The company plans to continue to expand specialty products business. "We continue to invest in expanding our specialty portfolio through a combination of organic initiatives and targeted acquisitions (in US)," Lupin's management said. In India, the company expects near-term tailwinds for both respiratory and diabetes portfolios. 

"We have over 80 new product launches planned over the coming years (in India), including innovative products from both in-house development and in-licenced. This includes GLP-1 (Glucogan-Like-Peptide-1), where we expect to be in the first wave of launches with Semaglutide in India, and also are working on strengthening our innovation pipeline for the long term," Lupin said.
To face the competition effectively for the upcoming GLP-1 opportunity, the company is building its capacity in peptide segment, though it will outsource some part of the requirement, Lupin said.

On Friday, shares of Lupin closed at INR 1,971.80 on the National Stock Exchange, up 0.83% from its previous close.  End

 

US$1 = INR 88.66

 

Edited by Deepshikha Bhardwaj

 

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