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Lincoln Pharma Overview

Lincoln Pharmaceuticals Ltd (LPL) is engaged inside the business of producing, advertising and marketing and distribution of pharmaceutical merchandise. The Company operates through the Pharmaceuticals Products phase. The Company gives products, along with tablets, drugs, liquid injection, cream in tubes, dry power injection, liquid injection, and pharma products. It has operations in cardiac, diabetic, anti-malarial, anti-biotics, cephalosporins, analgesic, antipyretics, diet-minerals and iron preparations, among others. Its geographical segme...Read More

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Lincoln Pharma Key Financials

Market Cap ₹1362 Cr.

Stock P/E 16.5

P/B 1.8

Current Price ₹680

Book Value ₹ 371.6

Face Value 10

52W High ₹731.5

Dividend Yield 0.26%

52W Low ₹ 440

Lincoln Pharma Share Price

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Volume
Price

Lincoln Pharma Quarterly Price

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Lincoln Pharma Peer Comparison

Lincoln Pharma Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 156 146 142 147 161 147 168 154 163 166
Other Income 9 11 7 10 10 9 -7 15 7 15
Total Income 165 157 150 158 171 156 161 169 171 181
Total Expenditure 125 117 124 125 133 123 141 130 138 143
Operating Profit 40 41 25 33 38 33 20 39 33 39
Interest 0 0 0 0 0 1 0 0 0 0
Depreciation 3 3 3 3 3 3 3 3 4 4
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 37 38 22 29 35 29 16 35 29 35
Provision for Tax 9 10 4 6 8 8 5 8 9 6
Profit After Tax 28 28 19 24 26 21 12 28 20 29
Adjustments 0 0 0 0 -0 -0 0 0 0 -0
Profit After Adjustments 28 28 19 24 26 21 12 28 20 29
Adjusted Earnings Per Share 13.8 14 9.3 11.8 13.1 10.4 5.8 13.8 10 14.3

Lincoln Pharma Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 266 400 360 361 366 386 424 472 510 581 623 651
Other Income 7 7 3 5 6 11 6 10 22 34 22 30
Total Income 273 408 363 366 372 398 430 482 533 615 646 682
Total Expenditure 240 360 314 308 299 321 337 377 421 481 522 552
Operating Profit 33 48 50 58 73 77 93 105 112 134 124 131
Interest 8 10 7 5 4 2 2 1 2 1 2 0
Depreciation 5 5 6 6 7 7 8 8 9 11 13 14
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 20 33 37 46 62 67 84 96 100 122 109 115
Provision for Tax 5 9 9 12 13 16 21 27 28 29 27 28
Profit After Tax 15 24 28 35 49 51 62 69 73 93 82 89
Adjustments -0 -0 -0 -0 -0 -0 0 0 0 0 0 0
Profit After Adjustments 15 24 28 35 49 51 62 69 73 93 82 89
Adjusted Earnings Per Share 9.2 14.5 14.1 17.3 24.4 25.7 31.1 34.6 36.4 46.6 41.1 43.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 7% 10% 10% 9%
Operating Profit CAGR -7% 6% 10% 14%
PAT CAGR -12% 6% 10% 19%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 20% 21% 18% 16%
ROE Average 13% 15% 16% 17%
ROCE Average 18% 21% 22% 21%

Lincoln Pharma Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 111 141 192 224 269 313 366 433 502 593 672
Minority's Interest 3 0 0 0 0 0 0 0 0 0 0
Borrowings 25 24 12 7 2 1 0 0 0 0 0
Other Non-Current Liabilities 8 10 19 18 27 42 26 11 38 15 19
Total Current Liabilities 114 100 99 113 100 80 95 111 96 117 131
Total Liabilities 262 275 324 363 399 437 487 555 637 725 822
Fixed Assets 66 98 103 117 121 123 111 132 151 179 182
Other Non-Current Assets 15 29 32 20 39 51 49 50 95 83 115
Total Current Assets 181 147 190 227 239 263 328 373 391 463 525
Total Assets 262 275 324 363 399 437 487 555 637 725 822

Lincoln Pharma Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 5 4 3 3 7 5 12 11 7 5 6
Cash Flow from Operating Activities 25 45 25 27 53 75 69 76 39 63 93
Cash Flow from Investing Activities 7 -42 -25 -12 -18 -31 -64 -78 -37 -57 -79
Cash Flow from Financing Activities -32 -3 0 -11 -36 -38 -6 -3 -5 -5 -6
Net Cash Inflow / Outflow -1 -0 -0 3 -1 7 -1 -5 -2 1 8
Closing Cash & Cash Equivalent 4 3 3 7 5 12 11 7 5 6 13

Lincoln Pharma Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 9.2 14.52 14.06 17.31 24.36 25.72 31.08 34.63 36.4 46.58 41.11
CEPS(Rs) 12.02 17.57 16.82 20.38 27.71 29.4 34.85 38.66 40.97 51.89 47.55
DPS(Rs) 1 1 1.2 1.5 1.5 1.5 1.5 1.5 1.5 1.8 1.8
Book NAV/Share(Rs) 68.24 81.52 96.19 112.11 134.67 156.54 182.92 216.12 250.86 295.98 335.34
Core EBITDA Margin(%) 9.44 9.98 12.79 14.47 17.83 16.4 19.88 19.23 16.68 16.46 15.55
EBIT Margin(%) 10.4 10.6 12.04 14.28 17.55 17.33 19.45 19.61 19.17 20.38 17.02
Pre Tax Margin(%) 7.32 8.14 10.22 12.79 16.49 16.83 19.09 19.32 18.79 20.14 16.73
PAT Margin (%) 5.54 5.86 7.7 9.58 12.92 12.88 14.19 13.97 13.63 15.37 12.62
Cash Profit Margin (%) 7.23 7.06 9.21 11.27 14.7 14.71 15.92 15.6 15.35 17.12 14.59
ROA(%) 5.77 8.87 9.4 10.09 12.8 12.33 13.48 13.31 12.24 13.7 10.64
ROE(%) 14.32 19.49 17.29 16.63 19.75 17.67 18.32 17.35 15.59 17.04 13.02
ROCE(%) 15.91 21.18 18.51 19.05 22.5 22.3 24.9 24.29 21.82 22.53 17.55
Receivable days 139.97 89.69 85.52 100.99 112.23 102.22 89.34 84.27 86.09 89.63 91.75
Inventory Days 30.72 22.16 32.36 41.74 39.51 38.19 39.12 43.86 48.72 44.26 43.57
Payable days 126.66 54.24 56.51 88.51 117.62 125.84 126.82 138.44 124.63 110.27 141.73
PER(x) 8.52 10.83 16.78 12.15 8.73 5.2 7.23 8.98 9.31 12.57 13.42
Price/Book(x) 1.15 1.93 2.45 1.88 1.58 0.85 1.23 1.44 1.35 1.98 1.64
Dividend Yield(%) 1.28 0.64 0.51 0.71 0.71 1.12 0.67 0.48 0.44 0.31 0.33
EV/Net Sales(x) 0.72 0.8 1.46 1.3 1.23 0.67 1.03 1.28 1.27 2 1.74
EV/Core EBITDA(x) 5.88 6.72 10.6 8.09 6.19 3.37 4.7 5.75 5.79 8.63 8.73
Net Sales Growth(%) 26.41 50.39 -9.97 0.1 1.53 5.56 9.75 11.3 8.09 13.76 7.35
EBIT Growth(%) 48.22 52.45 2.25 17.42 28.13 4.62 23.15 14.2 5.26 20.68 -10.21
PAT Growth(%) 47.69 58.23 18.21 23.16 40.66 5.6 20.95 11.41 5.11 27.99 -11.74
EPS Growth(%) 40.9 57.75 -3.15 23.11 40.69 5.6 20.84 11.41 5.11 27.99 -11.75
Debt/Equity(x) 0.69 0.59 0.34 0.27 0.12 0.02 0 0 0 0 0
Current Ratio(x) 1.58 1.46 1.91 2 2.38 3.27 3.46 3.37 4.07 3.94 4
Quick Ratio(x) 1.39 1.19 1.55 1.61 2.03 2.68 2.97 2.71 3.34 3.29 3.4
Interest Cover(x) 3.37 4.32 6.6 9.55 16.56 34.32 54.61 67.11 50.5 84.45 58.99
Total Debt/Mcap(x) 0.6 0.3 0.14 0.15 0.08 0.02 0 0 0 0 0

Lincoln Pharma Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 49.8 49.53 49.78 49.78 49.78 49.78 49.78 49.78 49.78 49.78
FII 3.23 3.93 3.95 5.19 5.16 5 5.14 4.72 4.7 5.19
DII 0.06 0.05 0.04 0 0 0.01 0.01 0.01 0.01 1.09
Public 46.91 46.49 46.24 45.03 45.06 45.22 45.07 45.49 45.52 43.94
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Lincoln Pharma News

Lincoln Pharma Pros & Cons

Pros

  • Company is almost debt free.

Cons

  • Promoter holding is low: 49.78%.
  • Debtor days have increased from 110.27 to 141.73days.
  • The company has delivered a poor profit growth of 9% over past five years.
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