Lincoln Pharmaceuticals (531633) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 revenue reached INR 166.32 crore, up 13.49% year-over-year.

• EBITDA for Q3 FY26 was INR 38.74 crore, up 18.73% year-over-year.

• Net profit for Q3 FY26 stood at INR 28.60 crore, up 37.70% year-over-year.

• EPS for Q3 FY26 was 14.28, up 37.70% year-over-year.

• The company targets INR 1,000 crore revenue within three years, aiming for 15%-18% annual growth.

Financial highlights

• Profit before tax for Q3 FY26 was INR 34.72 crore, up 21.06% year-over-year.

• For 9MFY26, net profit increased 7.76% year-over-year to INR 76.26 crore, and revenue grew 6.31% to INR 483.75 crore.

• Nine-month EPS is 38.07, up 7.76% year-over-year.

• Other income includes forex gains and investment returns, contributing significantly to EBIT.

• The company maintains a debt-free balance sheet.

Outlook and guidance

• Long-term revenue target of INR 1,000 crore by FY28, with a possible delay of up to six months.

• EBITDA margin guidance remains at 15%-18% for the coming year.

• Focus on expanding presence in regulated and semi-regulated markets, with plans to increase export footprint from 60+ to 90 countries.

• R&D pipeline includes over 100 new development programs and 700 products in development.

• Growth expected from both domestic and export markets, with a future mix of 60/40 or 65/35 (exports/domestic).