Lupin Q4 FY2026 Results: Net Profit Jumps 89% YoY — US Business Powers Record Quarter
By Kaushik Brahmakshatriya
Published On 04 June 2026.
Lupin Q4 FY2026 Results
Lupin Limited, one of India’s most prominent transnational pharmaceutical companies, delivered an outstanding performance in the fourth quarter of FY2026 (January–March 2026). The Mumbai-based pharma major posted a consolidated net profit of ₹1,460.34 crore — an impressive 89.04% surge year-on-year and a robust 24.23% quarter-on-quarter increase (Markets Mojo) . The stellar results were fueled by exceptional growth in the United States market, steady expansion in India, and disciplined cost management across global operations.
Q4 FY2026 Key Financial Highlights
For the fourth quarter of FY26, Lupin posted consolidated net sales of ₹73,919 million, a significant 33% increase compared to the same period last year. EBITDA reached ₹21,711 million, up 68% year-on-year, while net income for the quarter stood at ₹14,604 million, marking an 89% increase over Q4 FY25.
Q4 FY2026 vs Q4 FY2025 — Key Financials
| Metric | Q4 FY2026 | Q4 FY2025 | YoY Change |
| Net Sales | ₹73,919 Mn | ~₹55,620 Mn | +33% |
| EBITDA | ₹21,711 Mn | ₹12,900 Mn | +68% |
| Net Profit (PAT | ₹14,604 Mn | ₹7,724 Mn | +89% |
| Gross Profit | ₹55,403 Mn | ₹38,760 Mn | +42.9 |
| Gross Margin | 75% | ~69% | +~6 pp |
| R&D Spend | ₹5,898 Mn | — | 8% of Sales |
US Business: The Star Performer
The United States remained the biggest engine of Lupin’s growth this quarter. US sales for Q4 FY2026 were ₹33,987 million, up 56.9% compared to ₹21,666 million in Q4 FY2025, accounting for 46% of Lupin’s global sales.
The company successfully launched key products in the US, including Dapagliflozin Tablets (generic Farxiga) and received a tentative approval for Sugammadex Injection (generic Bridion).
These product additions significantly expanded Lupin’s US revenue base and reinforced its position as a leading generic pharmaceutical player in North America.
Full-Year FY2026 Performance
The momentum wasn’t limited to just one quarter — the entire fiscal year witnessed transformational improvement.
FY2026 vs FY2025 — Full Year Comparison
| Metric | FY2026 | FY2025 | YoY Change |
| Total Revenue | FY2026 | ₹2,27,079 Mn | +23.1% |
| US Sales | ₹1,16,783 Mn | ~₹79,990 Mn | +46.0% |
| EBITDA | ₹92,405 Mn | — | +68.6% |
| EBITDA Margin | 33.6% | 24.7% | +8.9 pp |
| PAT | ₹53,555 Mn | ₹33,045 Mn | +62.0% |
| Net Debt | ₹-46,358 Mn | — | Debt-Free |
For the full financial year 2026, Lupin achieved total sales of ₹2,74,875 million, marking a 23.9% increase over the previous year. The company’s EBITDA surged by 68.6%, with margins expanding to 33.6% from 24.7% in FY2025. Profit After Tax climbed to ₹53,555 million, a year-over-year growth of 62.0%.
India Business & Other Markets
India Region Formulation sales rose 14.5% in Q4 compared to Q4 FY2025, with the company launching 3 new brands across therapies during the quarter. Lupin is currently ranked the 8th largest company in the Indian Pharmaceutical Market as per IQVIA MAT March 2026.
LATAM grew a remarkable 75%, EMEA rose 19%, and APAC climbed 9% during the quarter, underscoring Lupin’s broad-based global recovery.
Q4 FY2026 Geographic Revenue Breakdown
| Region | Q4 FY2026 Revenue | YoY Growth |
| North America (US) | ₹35,145 Mn | +55% |
| India Domestic | ₹19,082 Mn | +12% |
| Emerging Markets | ₹9,906 Mn | +49.2% |
| Other Dev. Markets | ₹8,453 Mn | +7.1% |
| LATAM | — | +75% |
| EMEA | — | +19% |
Dividend Announcement
The Board of Directors recommended a 900% dividend based on the company’s long-term growth outlook,equivalent to ₹18 per equity share on a face value of ₹2. This reflects the board’s high confidence in Lupin’s sustained earnings trajectory going into FY2027.
Management Commentary
Mr. Nilesh Gupta, Managing Director, Lupin Limited, stated that the fourth quarter and full-year results underscore the strength and resilience of the business across key geographies, with the US and India delivering strong sales growth and margin expansion. He added that the company is well-positioned to accelerate performance through strategic investments in technology, disciplined execution, and operational efficiencies.
Q&A Section: Lupin Q4 FY2026 Results
Q1. What was Lupin’s net profit in Q4 FY2026?
Lupin reported a consolidated net profit of ₹1,460.34 crore in Q4 FY2026, representing an 89% jump compared to the same quarter in FY2025.
Q2. How much did Lupin’s US sales grow in Q4 FY2026?
US sales surged by 56.9% year-on-year to ₹33,987 million, contributing 46% of Lupin’s total global revenue for the quarter.
Q3. What dividend did Lupin announce for FY2026?
Lupin’s Board recommended a 900% dividend — amounting to ₹18 per share on face value of ₹2 — subject to shareholder approval at the upcoming AGM.
Q4. What is Lupin’s EBITDA margin for FY2026?
For the full year FY2026, Lupin’s EBITDA margin expanded significantly to 33.6%, up from 24.7% in FY2025 — a gain of nearly 9 percentage points.
Q5. Is Lupin debt-free?
Yes. As of March 31, 2026, Lupin reported a net debt of ₹-46,358 million, meaning the company holds more cash than debt, with a net debt-to-equity ratio of -0.21.
Q6. What new products did Lupin launch in the US in Q4 FY2026?
Lupin launched Dapagliflozin Tablets (generic of Farxiga) and received tentative FDA approval for Sugammadex Injection (generic of Bridion) during the quarter.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult a SEBI-registered financial advisor before making any investment decisions. Past performance is not a guarantee of future results.we are not responsible for any loss
