Lupin Limited · NSE:LUPIN
Lupin — Q3 FY26 Earnings Presentation
21 slides from Lupin's earnings presentation, Feb 12, 2026
Slide 1: Exchange filing cover letter for Investor Presentation
February 12, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, P. J. Towers, Dalal Street, Bandra Kurla Complex, Mumbai Samachar Marg, Bandra (East), Mumbai - 400 001 Mumbai - 400 051 Symbol: LUPIN Scrip Code: Equity - 500257 Subject: Investor Presentation - Q3 FY26 Results D
Slide 2: Investor Presentation Q3 FY26
Investor Presentation Q3 FY26 February 12, 2026
Slide 3: Safe Harbor Statement
Safe Harbor Statement Materials and information provided during this presentation may contain forward looking statements. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties which could cause actual outcomes and results to differ
Slide 4: Q3 FY26 Performance
Q3 FY26 Performance
Slide 5: Q3 FY26 - Key Growth Metrics
Q3 FY26 - Key Growth Metrics Continued Strong Operating Performance Key Metrics Business Performance Values in INR unless indicated otherwise 71,005 mn Sales India APAC 26% YoY 20,387 mn | 6% YoY 2,949 mn | 14% YoY LATAM 3,267 mn | 70% YoY 22,095 mn EBITDA1 31.1% North America 62% YoY Margin 32,183
Slide 6: Q3 FY26 - Key Developments
Q3 FY26 - Key Developments Consistent improvement in margins Financials Key Launches / Approvals gRisperdal Consta® Pegfilgrastim Sales* and EBITDA margin Trajectory Launched US FDA Injection & (Armlupeg ) In US approval gRavicti® (AG) 80,000 68,314 71,005 biosimilar 70,000 37.0% 61,638 60,000 56,18
Slide 7: Q3 FY26: Financial Snapshot
Q3 FY26: Financial Snapshot Sales Mix Key Financials INR mn Revenue (In INR mn and %) United India, Q3 FY26 Q3FY25 Q2 FY26 States, 20,387 31,1321 29% 44% Sales 71,005 56,186 68,314 API, 2,195 3% 22,095 13,659 21,376 EBITDA3 Emerging Other Developed Markets2, Net Income4 11,756 8,552 14,779 Markets3,
Slide 8: India: Focus on outperforming market growth
India: Focus on outperforming market growth Brief Overview India business grew 5.6%1 YoY Brief Overview Leveraging Chronic Leadership India Sales (INR mn) #2 #3 #3 Rank Rank Rank 19,305 20,894 20,777 20,387 Respiratory2 Diabetes Care2 Cardiac2 17,113 • Chronic growth 13% in 9MFY26 vs IPM growth of 1
Slide 9: India: Amplifying our Core
India: Amplifying our Core IRF poised to outperform IPM by 1.2-1.3x with key drivers in place Enabling end to end healthcare ecosystem and access for the patient Enhancing penetration and reach CHC Portfolio catering to GI, VMS, • Maximizing Chronic focus with ~70% share by FY30 Cough/cold therapies
Slide 10: United States: Continued momentum on Key Launches
United States: Continued momentum on Key Launches BriefLeadership: Overview 4.8% Gx TRx volume Consistent Sales trajectory3 Continued momentum led by Brief Overview share in U.S.1 investments in complex Gx & 505(b)(2) Sales in US$ Mn 46% YoY 11% QoQ • Plans to file 10-15 ANDAs in FY26 including #3 #
Slide 11: Innovation and Quality
Innovation and Quality R&D pivoting towards complex generics and biosimilars Achieve Best-in-Class Quality Substantial Capabilities to become CGx powerhouse Recent Track Record Successful outcomes in last 12 months • Inhalation: Global presence with end-to-end capabilities of MDIs, DPIs, Soft-Mist I
Slide 12: Key Financial Metrics: Quarterly Trend
Key Financial Metrics: Quarterly Trend R&D (INR mn) Capex (INR mn) Net Debt to Equity 6,000 5,430 5,352 15.0%4,500 15.0% 5,222 4,975 13.0%4,000 13.0% 5,000 4,412 3,474 11.0% 3,500 11.0% 0.21 4,000 3,000 9.0% 9.0% 9.8% 2,500 2,086 3,000 7.0% 2,007 7.0% 0.11 7.9% 8.1% 7.6% 7.5% 2,000 5.0% 1,426 5.0% 2
Slide 13: P&L Highlights Q3 FY26
P&L Highlights Q3 FY26 Particulars Q3’FY26 % of Sales Q3’FY25 % of Sales YoY Growth Q2’FY26 % of Sales QoQ Growth Net Sales 71,005 100.00% 56,186 100.00% 26.4% 68,314 100.00% 3.9% Other operating 670 0.9% 1,492 2.7% (55.1%) 2,161 3.2% -69.0% income Total revenue 71,675 100.9% 57,678 102.7% 24.3% 70,
Slide 14: P&L Highlights 9M FY26
P&L Highlights 9M FY26 Particulars 9M’FY26 % of Sales 9M’FY25 % of Sales YoY Growth Net Sales 200,956 100.0% 166,299 100.0% 20.8% Other operating income 3,877 1.9% 4,109 2.5% (5.6%) Total revenue 204,834 101.9% 170,408 102.5% 20.2% Gross Profit (excl. other 146,208 72.8% 114,739 69.0% 27.4% operatin
Slide 15: Lupin at a Glance
Lupin at a Glance
Slide 16: Lupin Today
Lupin Today Global Presence Local Leadership Geographically Diverse Growing Sustainability Largest In the US (by India United States 3rd 75,773 79,975 14th $2.7 Bn prescriptions2) 34% 36% India Pharma Market Rank (by 8th sales3) Largest Generic Company (by sales1) Annual sales in FY256 4th Largest A
Slide 17: Catalyzing Treatments that serve Patients around the world
Catalyzing Treatments that serve Patients around the world United States Other Developed India Other Emerging API Markets Markets Substantial scale Driving operating Global reach and scale achieving reliability of Evolving portfolio and Delivering above- leverage in Portfolio, positions us as a supp
Slide 18: Lupin's ESG Update
Lupin’s ESG Update Paving a sustainable future for Planet, People and Patients Key Highlights for Q3 FY26 ESG Goal Status FY 2025 Climate 38% GHG Reduction by Change1 26% GHG Reduction 2030 Water 50% Recycling by 2030 44% Recycling Double ’A’ Rating in Climate Secured 91 / 100 in S&P Global Biodiver
Slide 19: Lupin ESG Framework and ESG Ratings
Lupin ESG Framework and ESG Ratings Our Purpose Planet People Patients We catalyze treatments that transform hope into Catalyzing Planet Action Transforming Our People Healing Patients healing Climate Change Diversity and Inclusion Product Launches and Quality Our ESG Framework Water Employee Volunt
Slide 20: Lupin – Awards and Accolades
Lupin – Awards and Accolades • Lupin placed among the Top 10% of companies in our industry based on S&P Global CSA score for 2024. Earns a spot in the esteemed S&P Global Sustainability Yearbook again • Lupin Secures SBTi Validation for Emission Reduction Targets • Lupin Nagpur wins two Pharmaceutic
Slide 21: Thank You
Thank You lupin.com youtube.com/c/LupinGlobal x.com/LupinGlobal Registered Address facebook.com/LupinWorld/ 3rd Floor, Kalpataru Inspire, Off Western Express Phone: +91 22664 02323 linkedIn.com/company/lupin Highway, Santacruz (East), Mumbai - 400055, India Fax: +91 22664 02051