Lupin Ltd (BOM:500257) Q2 2026 Earnings Call Summary: Achieving Record Revenue and Strategic Expansion

Written by Emily J. Thompson, Senior Investment Analyst

Source: Yahoo Finance

Updated: Nov 08 2025

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Source: Yahoo Finance

Financial Performance: Lupin Ltd reported record quarterly revenues of INR7,048 crores and EBITDA of INR2,138 crores, with significant growth in the US market and a gross margin increase to 73.3%.
Market Growth: The company experienced a 41% year-on-year growth in US revenue, while emerging markets saw a 45% increase; however, India revenue growth was only 3.4% due to lower local tender sales.
Product Development: Lupin became the first Indian company to gain approval for several complex injectable products and aims to double the share of complex products in its US business, supported by a strong pipeline.
Challenges and Outlook: The company faces compliance challenges and anticipates some revenue erosion from key products due to competition, while also expecting higher R&D expenses that may impact margins.

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About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.