Lincoln Pharmaceuticals share price today

Lincoln Pharmaceuticals Ltd's share price was ₹510.35 at the close on 4 November 2026. It has been falling for 1 week. That is 13.2% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹453 and ₹734, and at that close it sat 20% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Lincoln Pharmaceuticals Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 5 weeks running.

Over the last 11 years the share price moved +245% while the NIFTY 500 moved +257%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 1 October 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), lowest operating margin in 16 quarters and highest quarterly revenue in 16 quarters.

1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare)

   In the September 2026 quarter revenue was ₹191 crore, +17.2% on a year earlier.

2. Lowest operating margin in 16 quarters

   Operating margin was 12% in the September 2026 quarter, against 16% a year earlier.

3. Highest quarterly revenue in 16 quarters

   Revenue of ₹191 crore in the September 2026 quarter is the highest of the last 16 quarters.

For July to September 2026 (the quarter ended 30 September 2026), Lincoln Pharmaceuticals reported revenue of ₹191 crore, up 17.2% from ₹163 crore a year earlier, and a profit of ₹20.0 crore, up 0.0% from ₹20.0 crore.

Lincoln Pharmaceuticals results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 18 February 2026, about October to December 2025; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Lincoln Pharmaceuticals closed at ₹510.35 on 4 November 2026, down 2.3% from ₹522.35 a year earlier (7 November 2025) and up 46.4% over five years. Its highest weekly close since February 2016 was ₹929.85 on 13 December 2024.

Lincoln Pharmaceuticals share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

564 weekly closes from 26 February 2016 to 4 November 2026.

4 Nov 2026: Lincoln Pharmaceuticals closed at ₹510.35, up 1.7% on the week and down 12.3% on the month. Results for July to September 2026: Revenue up 17.2% and profit up 0.0% on a year earlier.

Earlier

• 11 Sep 2026: ex-date for a dividend of ₹1.80 a share.
• 18 Feb 2026: Lincoln Pharmaceuticals held its results call for October to December 2025.

Lincoln Pharmaceuticals paid ₹1.80 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.35% at the ₹510.35 close on 4 November 2026. The last was a dividend of ₹1.80 a share, ex-date 11 September 2026.

Lincoln Pharmaceuticals dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Lincoln Pharmaceuticals Ltd paid out 4% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for October to December 2025, held on 18 February 2026, Lincoln Pharmaceuticals' management spoke about the quarter; the main points are below.

“We might even cross 1,000 crores with our 24-25 CDMO projects providing regulated market revenue as a bonus to this growth”Management, on the call for October to December 2025

Source: the call transcript.

From the call for October to December 2025, 18 February 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

What is changing at Lincoln Pharmaceuticals, from the latest results and calls: cephalosporin block revenue ramp, health canada sra, regulated market unlock and geographical expansion, 60 to 90 countries.

• Cephalosporin Block Revenue Ramp. Separate Cepha facility crossed break-even ahead of schedule; ₹32-34 Cr in 9M FY26 vs ₹45 crore full-year goal; FY27 guide ₹90-100 Cr is doubling, if regulatory approvals come through. ⚠ estimate
• Health Canada SRA, Regulated Market Unlock. 6 manufacturing lines approved by Health Canada; $4-5M current Canada revenue aiming for $10-15M; SRA credential enables 80+ market access indirectly. ⚠ estimate
• Geographical Expansion, 60 to 90 Countries. Africa 40% of exports (resilient collection); Latin America + Southeast Asia 25%; Canada scaling; EU reinspection planned May-June 2026; expanding from 60 to 90 countries. ⚠ estimate
• CDMO/CMO Contracts Commercializing. 5 CDMO/CMO contracts signed + 18-19 in process across regulated markets; positioned as incremental bonus revenue toward ₹1,000 crore FY28 goal. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the latest results, written 17 May 2026.

Operating margin fell from 20-21% (FY21-22) to 14-16% (FY25-26); management's own revised goal is 15-18%, accepting permanent margin loss vs original 20-22% guidance.

The main risks

• Operating margin Structural Compression, No Recovery Signal: Operating margin fell from 20-21% (FY21-22) to 14-16% (FY25-26); management's own revised goal is 15-18%, accepting permanent margin loss vs original 20-22% guidance. ✓ fact
• Revenue Growth Below 15-18% Long-Term Goal: 9M FY26 revenue ₹483 crore tracking ~6% on a year earlier growth vs 15-18% goal; achieving ₹1,000 crore FY28 requires sustained acceleration from current sub-10% trajectory. ✓ fact
• Canada Re-Audit Pending, Blocks Regulated Market Expansion: Re-audit applications from two countries pending; until cleared, further regulatory market expansion is blocked, limiting Health Canada SRA monetization. ✓ fact
• Africa Geopolitical Concentration Risk: Africa is 40% of export revenue (~₹160 crore); geopolitical disruptions causing 10-15 day payment delays; any escalation could impair collections or volumes. ✓ fact

Our read after the latest results, written 17 May 2026.

When Lincoln Pharmaceuticals reports October to December 2026, these are the 6 checks that show whether the story is still on course. First: January to March 2026 profit ex non-operating income, must exceed ₹15 crore to demonstrate trend improvement.

Lincoln Pharmaceuticals is on one of our India lists: Pharma stocks.

Lincoln Pharmaceuticals Ltd earned ₹20.0 Cr of net profit in the Sep 2026 quarter, +0.0% on the same quarter a year earlier. Full-year FY26 profit was ₹88.0 Cr. Over 10 years profit has grown 13.9% a year on average. That is 10.5% of the quarter's revenue. The same quarter a year earlier earned ₹20.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹88.0 Cr (+7.3% on the year before).

Why profit moved: revenue changed +17.2% on a year earlier and the margin moved −4.0 percentage points. Sales did the work while the margin got thinner.

On average over the last four quarters, profit changed +16.7% and revenue +14.1%. Profit and revenue are moving at about the same pace.

Lincoln Pharmaceuticals Ltd reported ₹191 Cr of revenue in the Sep 2026 quarter, +17.2% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 5.3% a year on average. The last full year, FY26, came in at ₹671 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. Export is 70% of Lincoln's revenue, with Africa the largest market at 40% of export revenue (~Rs 160 Cr). Despite geopolitical risks, management reports resilient cash collection with only 10-15 day payment delays. Lincoln-owned registrations are replacing partner products across Latin America and Southeast Asia, a margin-accretive transition. EU reinspection is planned for May-June 2026 with a QP audit already cleared and 3 products filed. Australia TGA strategy restarted after acquisition failure, now filing own products from scratch (12-month delay). The geographic diversification reduces Africa concentration risk over time.

The last four reported quarters add to ₹721 Cr.

FY26 revenue was ₹671 Cr, +7.7% on the year before.

Recent pace: the last four quarters grew +14.1% on average, against 5.3% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +14.1%, against +10.0% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +19.8%, against +0.0% a year (accelerating).

Lincoln Pharmaceuticals Ltd's operating margin was 12.0% in the Sep 2026 quarter, 4.0 percentage points lower than the same quarter a year ago. Across 13 years it has been between 10.0% and 21.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. The Cephalosporin block is the most tangible structural catalyst for Lincoln. The facility is operational with injectables and tablets in commercial production. Management reports Rs 32-34 Cr achieved in the first 9 months of FY26, tracking toward the Rs 45 Cr full-year goal. For FY27, the guidance is Rs 90-100 Cr, a near-doubling, with an ultimate capacity of Rs 150-220 Cr at full utilization. The key constraint is regulatory approvals: 'a lot of regulatory has to come' per management. The dedicated R&D center (launching Apr-May 2026) should accelerate dossier development for regulated market submissions. Note: the original FY25 goal for this block was Rs 55-65 Cr, the current Rs 45…

Why the margin moved: operating margin changed −3.2 percentage points on the year while gross margin changed −4.2 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 100% of Lincoln Pharmaceuticals Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹106 Cr of operating cash against ₹88.0 Cr of profit. After ₹24.0 Cr of spending on assets, ₹82.0 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 100% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle.

What to look at next: the bigger use of cash is spending on new assets, at 2.0× depreciation over three years. The next section checks what that spending is building.

Lincoln Pharmaceuticals Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 82 days in FY26, up from 78 days in FY21. It spent ₹76.0 Cr on assets over the last 3 years. Customers take 88 days to pay, and stock sits for 94 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹671 Cr, each day of that cycle ties up about ₹1.8 Cr, so roughly ₹151 Cr is tied up in the business at any time.

FY26: customers took 88 days to pay and stock sat for 94 days, about 3.1 months of sales sitting as stock, for a full cycle of 82 days, longer than FY21's 78.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 94 days. Customers pay about 88 days after that. Suppliers are paid at 100 days. Together that makes the 82-day cycle.

Spending on assets: ₹76.0 Cr over the last 3 years, against ₹38.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹5.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Lincoln Pharmaceuticals Ltd's P/E is 10.5×, in the middle of its own history: higher than 40% of past readings. Its usual P/E (the middle reading) is 11.9×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.