Lupin’s stock surged 6% from its intraday low on February 12, 2025, after the company posted strong Q3 FY25 results. With a significant rise in net profit and impressive growth in North America and India, investors are optimistic. But is this momentum here to stay? Let’s find out!
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Financial performance: Strong growth across key metrics
Lupin reported a consolidated net profit of ₹858.9 crore in Q3 FY25, marking a 38.8% increase from ₹618.7 crore in Q3 FY24. This sharp rise was supported by a 10.6% growth in revenue, which stood at ₹5,618.6 crore, up from ₹5,079.9 crore in the same quarter last year.
One of the biggest highlights was the EBITDA surge of 32.1%, reaching ₹1,409.6 crore, compared to ₹1,067.3 crore in Q3 FY24. The EBITDA margin expanded by 408 basis points, climbing from 21% to 25.1%.
Here’s a quick breakdown of Lupin’s key financials:
| Metric | Q3 FY25 | Q3 FY24 | YoY Growth |
| Net Profit | ₹858.9 Cr | ₹618.7 Cr | 38.8% |
| Revenue | ₹5,618.6 Cr | ₹5,079.9 Cr | 10.6% |
| EBITDA | ₹1,409.6 Cr | ₹1,067.3 Cr | 32.1% |
| EBITDA Margin | 25.1% | 21% | +408 bps |
| R&D Investment | ₹434.4 Cr | – | 7.7% of sales |
| Manufacturing Expenses | ₹1,695.9 Cr | ₹1,560.1 Cr | – |
North America:
Lupin’s North America business was a major contributor to its Q3 success, accounting for 38% of total sales. The company reported revenue of ₹2,121.3 crore, reflecting a 12.3% YoY growth from ₹1,888.5 crore in Q3 FY24.
The U.S. segment alone brought in $235 million, up from $212 million last year. Lupin also received six ANDA (Abbreviated New Drug Application) approvals from the U.S. FDA and launched two new products, expanding its generics portfolio to 163 products.
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India business:
Lupin’s domestic market contributed 34% to total revenue, with India formulation sales at ₹1,930.5 crore, reflecting a 12% YoY growth from ₹1,725 crore in Q3 FY24. The India Region Formulation segment grew 5.8%, with 11 new brand launches across multiple therapeutic areas.
According to IQVIA MAT Dec’24 data, Lupin retains its position as the seventh-largest pharmaceutical company in the Indian market.
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Lupin stock price trend
Lupin’s stock saw a sharp recovery on February 12 after dropping 3.2% earlier in the day to an intraday low of ₹2,000.10. However, it rebounded by 6% to hit a high of ₹2,116.
Looking at the broader trend:
- Currently 12% away from its 52-week high of ₹2,403.45 (January 2025).
- Surged 42% from its 52-week low of ₹1,493.75 (June 2024).
- Up 30% YoY, despite an 11.7% decline in January and a 1% drop in February so far.
This suggests that while the stock has witnessed volatility, strong earnings have boosted investor confidence.
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Management outlook: What’s next for Lupin?
Nilesh Gupta, Managing Director of Lupin, expressed confidence in maintaining growth momentum. He stated:
“Our third-quarter results highlight our continued strength, with both revenue and EBITDA showing sustained growth. U.S. revenues, led by building scale in new products, have been pivotal for our growth, supported by a strong nine-month performance from our India and EMEA regions. We look forward to maintaining this momentum in the ensuing quarters backed by growth in sales, commercial and operating efficiencies, and strong compliance.”
Future outlook
Lupin’s financials show a strong balance sheet with controlled debt levels and growing international sales. However, the broader market sentiment and potential macroeconomic headwinds could impact future stock movements.
With positive regulatory developments, new drug launches, and steady growth in India, Lupin remains a key player in the pharmaceutical space.
