Lincoln Pharmaceuticals (LINCOLN)₹520.85+1.39%Pharmaceuticals
In the Sep 2026 quarter (consolidated), Lincoln Pharmaceuticals reported sales of ₹191 Cr, up 17.3% from Sep 2025, and net profit of ₹20.09 Cr, up 0.0% year on year. For the year to Mar 2026, sales were ₹672 Cr and net profit ₹88.33 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 146 | 142 | 147 | 161 | 147 | 168 | 154 | 163 | 166 | 187 | 177 | 191 |
| Expenses | 117 | 124 | 125 | 133 | 123 | 141 | 130 | 138 | 143 | 162 | 150 | 168 |
| Operating Profit | 29.98 | 18.01 | 22.99 | 28.02 | 23.99 | 26.98 | 24.01 | 25.02 | 23.98 | 25.01 | 26.99 | 24.02 |
| OPM % | 19.9% | 12.9% | 14.9% | 17.9% | 15.9% | 15.9% | 14.9% | 15.9% | 14.0% | 12.9% | 14.9% | 11.9% |
| Other Income | 11.03 | 7.02 | 10.02 | 10.01 | 9.02 | −7.01 | 15.02 | 7.02 | 15.03 | −4.01 | 24.04 | 10.02 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 1.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation | 3.01 | 3.01 | 2.99 | 3.01 | 3.01 | 3.01 | 3.01 | 4.01 | 3.99 | 4.01 | 4.01 | 3.99 |
| Profit before tax | 37.98 | 21.96 | 28.98 | 34.95 | 28.98 | 15.98 | 34.98 | 28.95 | 34.96 | 16.98 | 47.90 | 28.97 |
| Tax % | 26.0% | 16.1% | 20.0% | 24.0% | 28.0% | 29.0% | 22.0% | 31.1% | 18.0% | 30.1% | 24.1% | 30.1% |
| Net Profit | 28.10 | 19.06 | 24.07 | 26.08 | 21.10 | 12.04 | 28.09 | 20.08 | 29.11 | 12.04 | 36.12 | 20.09 |
| EPS (Rs) | 14.01 | 9.30 | 11.81 | 13.16 | 10.38 | 5.79 | 13.83 | 9.99 | 14.27 | 5.82 | 18.10 | 10.21 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 401 | 361 | 362 | 366 | 387 | 424 | 473 | 511 | 582 | 624 | 672 | 722 |
| Expenses | 359 | 313 | 308 | 299 | 321 | 337 | 376 | 421 | 480 | 522 | 573 | 623 |
| Operating Profit | 40.97 | 47.04 | 53.01 | 67.97 | 65.97 | 87.06 | 96.04 | 89.97 | 100 | 102 | 98.02 | 100 |
| OPM % | 9.9% | 12.9% | 14.9% | 17.9% | 16.9% | 20.9% | 19.9% | 17.9% | 16.9% | 15.9% | 14.9% | 13.9% |
| Other Income | 7.01 | 2.01 | 5.01 | 5.01 | 11.02 | 5.01 | 10.02 | 22.03 | 34.08 | 22.03 | 33.08 | 45.08 |
| Interest | 10.03 | 7.03 | 5.02 | 4.02 | 2.01 | 2.01 | 1.01 | 2.01 | 1.01 | 2.01 | 1.01 | 0.00 |
| Depreciation | 5.01 | 6.01 | 6.01 | 7.01 | 7.01 | 8.01 | 8.01 | 9.01 | 11.01 | 13.02 | 14.01 | 16.00 |
| Profit before tax | 32.95 | 36.94 | 45.94 | 61.95 | 66.92 | 83.89 | 95.90 | 99.90 | 122 | 109 | 116 | 129 |
| Tax % | 28.1% | 25.1% | 25.1% | 22.1% | 23.0% | 26.1% | 28.0% | 27.1% | 24.1% | 25.0% | 24.1% | — |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.99 | 0.00 | 0.99 | 1.99 | 1.99 | — |
| Net Profit | 24.10 | 28.11 | 35.15 | 49.16 | 51.18 | 62.28 | 69.32 | 73.26 | 93.29 | 82.27 | 88.33 | 97.36 |
| EPS (Rs) | 14.54 | 14.08 | 17.30 | 24.37 | 25.75 | 31.14 | 34.64 | 36.44 | 46.62 | 41.16 | 43.90 | 48.40 |
| Dividend payout % | 7.0% | 9.0% | 9.1% | 6.0% | 6.0% | 5.0% | 4.0% | 4.0% | 4.0% | 4.0% | 4.0% | — |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 16.02 | 16.03 | 20.02 | 20.01 | 20.03 | 20.03 | 20.01 | 20.02 | 20.01 | 20.01 | 20.01 | 20.02 |
| Reserves | 94.86 | 124 | 172 | 204 | 249 | 293 | 346 | 413 | 482 | 573 | 652 | 737 |
| Borrowings | 76.07 | 78.10 | 64.06 | 61.08 | 34.06 | 5.01 | 1.01 | 2.01 | 2.01 | 1.01 | 0.00 | 4.01 |
| Other Liabilities | 70.19 | 56.11 | 48.19 | 62.21 | 63.13 | 71.34 | 85.21 | 99.38 | 83.40 | 106 | 125 | 129 |
| Total Liabilities | 258 | 275 | 305 | 347 | 366 | 389 | 452 | 534 | 587 | 700 | 797 | 890 |
| Fixed Assets | 66.03 | 98.04 | 103 | 117 | 121 | 123 | 111 | 132 | 151 | 179 | 182 | 191 |
| CWIP | 2.99 | 2.99 | 6.98 | 0.00 | 1.99 | 0.00 | 1.99 | 15.94 | 6.97 | 2.99 | 3.98 | 4.98 |
| Investments | 0.00 | 0.00 | 9.96 | 10.97 | 17.95 | 33.87 | 80.79 | 96.62 | 90.78 | 139 | 173 | 208 |
| Other Assets | 190 | 174 | 186 | 219 | 225 | 232 | 259 | 290 | 339 | 380 | 437 | 486 |
| Inventories | 21.99 | 26.99 | 36.97 | 44.99 | 35.98 | 46.98 | 47.01 | 72.91 | 69.98 | 76.92 | 78.95 | 79.99 |
| Trade receivables | 119 | 80.75 | 90.64 | 109 | 121 | 101 | 113 | 115 | 135 | 161 | 165 | 161 |
| Cash & equivalents | 11.99 | 13.01 | 12.01 | 14.99 | 7.99 | 14.98 | 13.99 | 19.01 | 33.97 | 13.99 | 21.99 | 32.96 |
| Total Assets | 258 | 275 | 305 | 347 | 366 | 389 | 452 | 534 | 587 | 700 | 797 | 890 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 24.97 | 44.94 | 24.97 | 26.96 | 52.99 | 74.98 | 68.88 | 75.93 | 38.94 | 62.94 | 92.95 | 106 |
| Cash from investing activity | 6.99 | −41.92 | −24.97 | −11.98 | −17.97 | −30.99 | −63.93 | −77.94 | −36.98 | −56.91 | −78.94 | −97.92 |
| Cash from financing activity | −32.02 | −2.99 | 0.00 | −11.01 | −36.03 | −37.99 | −5.99 | −2.99 | −3.99 | −4.99 | −5.99 | 0.00 |
| Net cash flow | −0.99 | 0.00 | 0.00 | 2.99 | −0.99 | 6.97 | −0.99 | −3.98 | −1.99 | 0.99 | 7.97 | 7.97 |
| Capex | 3.99 | 33.91 | 17.96 | 9.99 | 14.97 | 7.98 | 8.99 | 45.90 | 13.97 | 39.91 | 18.97 | 25.94 |
| Free cash flow | 21.07 | 11.04 | 7.02 | 17.05 | 38.13 | 68.26 | 61.18 | 31.08 | 26.10 | 24.09 | 74.18 | 82.20 |
| CFO / OP % | 109.0% | 126.0% | 73.9% | 68.0% | 103.9% | 137.0% | 102.0% | 103.9% | 77.0% | 88.9% | 117.0% | 135.0% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 162 | 72 | 91 | 110 | 121 | 95 | 97 | 89 | 97 | 101 | 96 | 87 |
| Inventory days | 44 | 36 | 63 | 86 | 75 | 95 | 86 | 121 | 106 | 101 | 99 | 94 |
| Days payable | 91 | 39 | 53 | 81 | 91 | 101 | 104 | 119 | 76 | 94 | 105 | 99 |
| Cash conversion cycle | 117 | 71 | 101 | 116 | 107 | 89 | 79 | 92 | 127 | 109 | 91 | 83 |
| Working capital days | 76 | 31 | 69 | 89 | 113 | 126 | 119 | 113 | 121 | 121 | 116 | 126 |
| ROCE % | 15.1% | 21.1% | 19.1% | 19.0% | 23.1% | 22.1% | 25.0% | 24.0% | 22.0% | 22.0% | 17.1% | 16.0% |
For the Sep 2026 quarter, Lincoln Pharmaceuticals reported sales of ₹191 Cr, up 17.3% year on year and net profit of ₹20.09 Cr, up 0.0% year on year. The operating margin was 11.9%.
Lincoln Pharmaceuticals' sales for the year to Mar 2026 were ₹672 Cr; over the last twelve months they were ₹722 Cr.
Net profit for the year to Mar 2026 was ₹88.33 Cr, and ₹97.36 Cr over the last twelve months. Earnings per share over the same trailing period were ₹48.40.
Lincoln Pharmaceuticals reported borrowings of ₹4.01 Cr at Mar 2026, against cash and equivalents of ₹32.96 Cr.
Cash from operations was ₹106 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹82.20 Cr.