Sector Alpha Week of 2026-07-31
Sector Alpha — machine-written from the numbers · Data as of 2026-07-31

Lincoln Pharmaceuticals Ltd

LINCOLN
Pharma - Formulators

Lincoln Pharmaceuticals Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.

Biggest watch item: the P/E sits at the 73rd percentile of its own range — the multiple has already done part of the work.

The price is in a confirmed uptrend (20 weeks in) while the P/E sits at the 73rd percentile of its own 10-year range. Underneath, the last four quarters read mixed — profit +0.0% year on year, and 100% of the last 3 years' profit arrived as cash. What settles it: the next one or two quarters of delivery.

Stage
Turning around
partial read
Price
₹577
+8.1% 1Y
P/E
13.2×
73rd pctile
of its own 10-year range
Revenue (Mar 26)
₹187 Cr
+11.3% YoY
Profit (Mar 26)
₹12.0 Cr
+0.0% YoY
Operating margin
13.0%
−3.0 pp YoY
ROCE
16%
FY26
ROIC
12.6%
vs WACC 12.0% → +0.6 pp
Cash conversion
100%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified. PEG is the exception: the quarterly curve is not drawn at all. PEG asks what is being paid for growth — both sides of that division come from the source that could not be checked, so it is withheld instead of marked.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Lincoln Pharmaceuticals Ltd trades at ₹577, in a confirmed uptrend and 20 weeks into that stage. That is −2.6% against its own 200-day average. It sits at 44% of a 52-week range of ₹453 to ₹734. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (6 weeks and counting).

Today the stock is in a confirmed uptrend — week 20 of stage 2, confirmed. At ₹577 it trades −2.6% versus its 200-day average and sits at 44% of its 52-week range (₹453–₹734).

Jul 26: ₹577 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
−2.6% versus the 200-day line, week 20 of stage 2
Price50-day avg200-day avg
S2S4S2₹975₹811₹648₹484₹321₹577₹592Jul 23May 24Feb 25Nov 25Jul 26
S2S4S2₹975₹811₹648₹484₹321₹577₹592Jul 23Feb 25Jul 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (550 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Feb 16Jul 26

Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +290% while the NIFTY 500 moved +282% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (6 weeks and counting; last ahead the week of 2026-06-25) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Lincoln Pharmaceuticals Ltd trades at 13.2× P/E, at the pricey end of its own range (73rd percentile). Its long-run median P/E is 11.2×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 13.2× is at the pricey end of its own range (73rd percentile), against a long-run median of 11.2× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 13.2× vs a 11.2× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 10.4-year window; loss-period spikes above 18× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
at the pricey end of its own range (73rd percentile)
P/EMedianEPS (TTM) (quarterly)
18.8×₹52.814.8×₹39.610.8×₹26.46.9×₹13.22.9×₹0.0×13.20×₹44Feb 16Oct 18Jun 21Jan 24Jul 26
18.8×₹52.814.8×₹39.610.8×₹26.46.9×₹13.22.9×₹0.0×13.20×₹44Feb 16Jun 21Jul 26
P/E
13.2×
73rd percentile of 10y

Why the multiple sits where it does: over the past year annual EPS moved +6.7% against a +8.1% price move — the price outran earnings, pushing the multiple UP its own range.

The price move, decomposed: over 5y, of the +10.6%/yr price move, ~+7.0%/yr came from earnings growth and ~+3.6 pp from the multiple (expanding); over 10y, of the +12.7%/yr price move, ~+9.6%/yr came from earnings growth and ~+3.1 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

03 · Stage: Turning around

Stage: Turning around Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Lincoln Pharmaceuticals Ltd reads as turning around on its fundamental arc. Turning around — profit growth swung from −25.0% at the trough to +0.0% off a 4-quarter-old trough (single-quarter readings), ROCE slipping at 16.0%. The read is built from 10 quarters across 3 curves, on partial evidence.

Growth, year by year: revenue +7.7% in FY26, profit +7.3% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
55%66%38%45%20%24%2.7%3.3%−15%−18%%%7.7%7.3%FY16FY21FY26
55%66%38%45%20%24%2.7%3.3%−15%−18%%%7.7%7.3%FY16FY21FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue stabilising, profit accelerating
RevenueProfitEPS
29%53%21%29%14%4.7%6.2%−19%−1.4%−43%%%11.3%0%6.7%Jun 23Sep 24Mar 26
29%53%21%29%14%4.7%6.2%−19%−1.4%−43%%%11.3%0%6.7%Jun 23Sep 24Mar 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
22%21%19%17%16%%16%FY23FY24FY26
22%21%19%17%16%%16%FY23FY24FY26
Revenue growth
Steady high
latest +11.3% · span +0.7% to +26.8%
Profit growth
Flat
latest +0.0% · span −36.8% to +38.1%
ROCE
Falling
latest 16.0% · span 16.0%–22.0%

Why it matters: growth inflections are where re-ratings start — the curves say a turn is forming, so the question becomes whether the next quarters confirm it.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+7.7%+9.6%+9.6%+5.3%
Profit+7.3%+6.4%+7.3%+13.9%
EPS+6.7%+6.4%+7.1%+11.7%
Share price+8.1%+9.9%+10.6%+12.7%
Revenue YoY (Mar 26)
+11.3%
latest quarter vs a year ago
Profit YoY (Mar 26)
+0.0%
latest quarter vs a year ago
Revenue 10y
5.3%
long-run compound pace
04 · 4-Factor Sector Score

4-Factor Sector Score

39.4/100 — rank 31 of 43 in Pharma - Formulators · 83% evidence confidence

Lincoln Pharmaceuticals Ltd scores 39.4 out of 100 against the 43 companies it is compared with in Pharma - Formulators, ranking 31. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 11.6 + 14.2 + 9.8 + 3.8 = 39.4. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Lincoln Pharmaceuticals Ltd reported ₹187 Cr of revenue in the Mar 26 quarter, +11.3% year on year. That is the 10th straight quarter of year-on-year growth. Over 10 years it has compounded at 5.3% a year. The last full year, FY26, came in at ₹671 Cr. The last four reported quarters add to ₹670 Cr.

FY26 revenue came in at ₹671 Cr (+7.7% on the year), capping 10 years at 5.3% compound. The latest quarter (Mar 26) printed ₹187 Cr, +11.3% year on year — the 10th consecutive quarter of year-over-year growth.

FY26 revenue ₹671 Cr (+7.7% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
5.3% a year over 10 years
RevenueYoY growth
72555%54438%36220%1812.7%0−15%₹ Cr%₹6717.7%FY16FY21FY26
72555%54438%36220%1812.7%0−15%₹ Cr%₹6717.7%FY16FY21FY26
Mar 26: ₹187 Cr (+11.3% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
10th straight quarter of growth
Revenue (quarterly)YoY growth
20229%15121%10114%506.2%0−1.4%₹ Cr%₹18711.3%Jun 23Sep 24Mar 26
20229%15121%10114%506.2%0−1.4%₹ Cr%₹18711.3%Jun 23Sep 24Mar 26

Pace check: the last four quarters averaged +7.5% growth against the decade's 5.3% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +7.5% over the last 4 quarters against +7.5%/yr over the last 8 — stabilising; TTM profit +7.2% vs −2.7%/yr — accelerating.

06 · Operating margin

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

Lincoln Pharmaceuticals Ltd's operating margin is 13.0% in the Mar 26 quarter, −3.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 10.0% to 21.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 13.0%, −3.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 10.0%–21.0%.

🚨 Why the margin moved: operating margin went −2.6 pp year on year while gross margin went +0.1 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

FY26: 15.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 13-year window.
within a 10.0–21.0% band over 13 years
operating marginYoY change (pp)
22%4.5%19%2.7%16%1.0%12%−0.7%9.1%−2.5%%%15%−1%FY14FY20FY26
22%4.5%19%2.7%16%1.0%12%−0.7%9.1%−2.5%%%15%−1%FY14FY20FY26
Mar 26: 13.0% operating margin (−3.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
21%3.6%19%1.5%17%−0.5%14%−2.5%12%−4.6%%%13%−3%Jun 23Sep 24Mar 26
21%3.6%19%1.5%17%−0.5%14%−2.5%12%−4.6%%%13%−3%Jun 23Sep 24Mar 26
07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Lincoln Pharmaceuticals Ltd earned ₹12.0 Cr of net profit in the Mar 26 quarter, +0.0% year on year. Full-year FY26 profit was ₹88.0 Cr. The 10-year compound rate is 13.9%. That is 6.4% of the quarter's revenue. The same quarter a year earlier earned ₹12.0 Cr.

Mar 26 profit was ₹12.0 Cr, +0.0% year on year. On the full year, FY26 printed ₹88.0 Cr (+7.3%), and the 10-year compound rate is 13.9%.

FY26 profit ₹88.0 Cr (+7.3% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
13.9% a year over 10 years
Net profitYoY growth
10066%7545%5024%253.3%0−18%₹ Cr%₹887.3%FY16FY21FY26
10066%7545%5024%253.3%0−18%₹ Cr%₹887.3%FY16FY21FY26
Mar 26: ₹12.0 Cr (+0.0% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
3153%2329%164.7%8−19%0−43%₹ Cr%₹120%Jun 23Sep 24Mar 26
3153%2329%164.7%8−19%0−43%₹ Cr%₹120%Jun 23Sep 24Mar 26

🚨 Why profit moved: revenue contributed +11.3% and the margin −3.0 pp — the quarter was revenue-led despite a thinner margin.

Pace comparison, last four quarters: profit +7.9% vs revenue +7.5%. Profit and revenue are moving roughly in step.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 100% of Lincoln Pharmaceuticals Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹106 Cr of operating cash against ₹88.0 Cr of profit. After ₹24.0 Cr of capital spending, ₹82.0 Cr was left as free cash.

FY26: operating cash of ₹106 Cr against reported profit of ₹88.0 Cr, leaving free cash of ₹82.0 Cr after ₹24.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 100% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹106 Cr vs profit ₹88.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution.
100% of 3-year profit arrived as cash
Operating cashNet profitFree cash
1148657290₹ Cr₹106₹88₹82FY16FY21FY26
1148657290₹ Cr₹106₹88₹82FY16FY21FY26
FY26: CFO = 120% of profit (three-year rate 100%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
199%160%121%81%42%%120%FY16FY21FY26
199%160%121%81%42%%120%FY16FY21FY26

Why conversion sits at 100%: the cash cycle held roughly steady between FY21 and FY26 — so conversion tracks profitability rather than the cycle.

Router verdict: the bigger cash user is investment — capital spending ran 2.0× depreciation over three years, so the next section's job is to check what that build-out is buying.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Lincoln Pharmaceuticals Ltd's cash conversion cycle runs 82 days in FY26, up from 78 days in FY21. Capital spending ran ₹76.0 Cr over the last 3 years. At FY26 sales of ₹671 Cr each day of that cycle holds about ₹1.8 Cr, so roughly ₹151 Cr sits inside the business at any moment.

FY26: debtors at 88 days, inventory at 94 days — roughly 3.1 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 82 days, looser than FY21's 78.

The full loop: cash goes out to suppliers and production on day 0; stock waits 94 days to sell; customers pay about 88 days after that; and suppliers themselves are paid at 100 days — netting out to the 82-day cycle.

In money terms: at FY26 sales of ₹671 Cr, each day of the cycle holds about ₹1.8 Cr — so the 82-day loop keeps roughly ₹151 Cr sitting inside the business at any moment.

FY26: a 82-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 13-year window.
+4 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
1851451056525days82d94d88d100dFY14FY17FY20FY23FY26
1851451056525days82d94d88d100dFY14FY20FY26

On the investment side: capital spending of ₹76.0 Cr over the last 3 fiscal years against ₹38.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹5.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹24.0 Cr, work-in-progress ₹5.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
4734217−6₹ Cr₹24₹5FY16FY18FY21FY23FY26
4734217−6₹ Cr₹24₹5FY16FY21FY26

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

Lincoln Pharmaceuticals Ltd earns a ROCE of 16% in FY26. That is up from a trough of 11% in FY14. Return on invested capital clears the cost of that capital by +0.6 percentage points, so growth here adds value rather than only size. The wiring behind it is 13.1% net margin on 0.75× asset turns.

FY26 ROCE is 16%, recovered from a FY14 trough of 11% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 13.1% net margin × 0.75× asset turns × 1.17× balance-sheet leverage ≈ 11.5% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: 12.6% − 12.0% = a +0.6 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Positive but thin — value creation with little room for error.

FY26: ROCE 16% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 13-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY14's 11%
ROCEROIC (annual)WACC
26%22%18%14%9.9%%16%12.7%FY14FY20FY26
26%22%18%14%9.9%%16%12.7%FY14FY20FY26
Q4 FY26: ROCE 10.7% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
18%16%14%12%10%%10.7%13.6%Q1 FY24Q2 FY25Q4 FY26
18%16%14%12%10%%10.7%13.6%Q1 FY24Q2 FY25Q4 FY26
11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Lincoln Pharmaceuticals Ltd carries total debt of ₹4.0 Cr against shareholder equity of ₹758 Cr as of Mar 26, a debt-to-equity of 0.01 — effectively unlevered. On the annual view that ratio went from 0.00 in FY22 to 0.01 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹4.0 Cr against shareholder equity of ₹758 Cr — a debt-to-equity of 0.01. On the annual view, debt-to-equity went from 0.00 (FY22) to 0.01 (FY26). The returns on this page are earned, not borrowed.

FY26: debt ₹4.0 Cr at 0.01× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 4-year window.
Total debtDebt-to-equity
40.011×30.008×20.005×10.002×0−0.001×₹ Cr×₹40.01×FY22FY23FY26
40.011×30.008×20.005×10.002×0−0.001×₹ Cr×₹40.01×FY22FY23FY26
Mar 26: debt ₹4.0 Cr, debt-to-equity 0.01 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
130.032×100.024×60.015×30.006×0−0.002×₹ Cr×₹40.01×Dec 22Mar 24Mar 26
130.032×100.024×60.015×30.006×0−0.002×₹ Cr×₹40.01×Dec 22Mar 24Mar 26
12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Lincoln Pharmaceuticals Ltd moved a full percentage point over the last two years — the register is quiet. Domestic institutions moved +0.2 points over the same window, to 0.3%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: +0.6 points over 8 quarters to 4.6%; Domestic institutions: +0.2 points over 8 quarters to 0.3%; Promoters: +0.0 points over 8 quarters to 49.8%.

Fiscal-year ends: promoters +0.2 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
54%39%25%10%−4.0%%49.8%5.2%1.1%43.9%Mar 24Mar 25Mar 26
54%39%25%10%−4.0%%49.8%5.2%1.1%43.9%Mar 24Mar 25Mar 26
A quiet register: no holder moved a full point in two years Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
55%40%25%11%−4.0%%49.8%4.6%0.3%45.4%Jun 23Dec 24Jun 26
55%40%25%11%−4.0%%49.8%4.6%0.3%45.4%Jun 23Dec 24Jun 26
13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Lincoln Pharmaceuticals Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

14 · Related companies · Pharma - Formulators
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Lupin LtdLUPIN 74.1/100Favorable setup89% evidence TURNING 29.7/35 Revenue 23.1% · PAT 62% · OPM change 10 pp 88% evidence 21.0/25 ROCE 29.9% · OPM 33% 100% evidence 16.3/20 P/E 19.4× · PEG 0.54 65% evidence 7.1/20 RS sector -7.4% · RS bench 9% · 1Y 23.8%2 of 12 weeks ahead 100% evidence
Exact sum: 29.7 + 21 + 16.3 + 7.1 = 74.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2Kwality Pharmaceuticals Ltd539997 72.8/100Favorable setup78% evidence LEADER 29.0/35 Revenue 35.7% · PAT 71.8% · OPM change 3 pp 83% evidence 17.8/25 ROCE 24.2% · OPM 25% 76% evidence 6.4/20 P/E 39.4× · PEG — 50% evidence 19.6/20 RS sector 51.5% · RS bench 73.2% · 1Y 121.3%12 of 12 weeks ahead 100% evidence
Exact sum: 29 + 17.8 + 6.4 + 19.6 = 72.8 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
3Caplin Point Laboratories LtdCAPLIPOINT 68.3/100Favorable setup96% evidence LEADER 19.6/35 Revenue 12.9% · PAT 20.1% · OPM change 1 pp 88% evidence 18.9/25 ROCE 24.6% · OPM 34% 100% evidence 12.1/20 P/E 29.8× · PEG 0.99 100% evidence 17.7/20 RS sector 5.7% · RS bench 24.1% · 1Y 23.6%12 of 12 weeks ahead 100% evidence
Exact sum: 19.6 + 18.9 + 12.1 + 17.7 = 68.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Bliss GVS Pharma LtdBLISSGVS 66.9/100Favorable setup78% evidence LEADER 27.2/35 Revenue 14.3% · PAT 48.4% · OPM change 6 pp 83% evidence 13.2/25 ROCE 16.9% · OPM 17% 76% evidence 6.9/20 P/E 37.5× · PEG — 50% evidence 19.6/20 RS sector 64.6% · RS bench 87.2% · 1Y 203.1%12 of 12 weeks ahead 100% evidence
Exact sum: 27.2 + 13.2 + 6.9 + 19.6 = 66.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Glenmark Pharmaceuticals LtdGLENMARK 65.8/100Favorable setup100% evidence ASLEEP 30.5/35 Revenue 32.9% · PAT 100% · OPM change 2 pp 100% evidence 17.5/25 ROCE 39.8% · OPM 20% 100% evidence 12.2/20 P/E 20.2× · PEG 1.43 100% evidence 5.6/20 RS sector -10.3% · RS bench 5.6% · 1Y 4.1%3 of 12 weeks ahead 100% evidence
Exact sum: 30.5 + 17.5 + 12.2 + 5.6 = 65.8 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -10.3% and the one-year return is 4.1%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
6Emcure Pharmaceuticals LtdEMCURE 65.4/100Favorable setup71% evidence LEADER 24.6/35 Revenue 16.6% · PAT 32.9% · OPM change 0 pp 83% evidence 17.9/25 ROCE 24% · OPM 19% 76% evidence 9.4/20 P/E 39.3× · PEG — 15% evidence 13.5/20 RS sector 7.1% · RS bench 25.6% · 1Y 39.2%11 of 12 weeks ahead 100% evidence
Exact sum: 24.6 + 17.9 + 9.4 + 13.5 = 65.4 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
7Corona Remedies LtdCORONA 64.5/100Mixed-positive evidence73% evidence BREAKING OUT 23.7/35 Revenue 18% · PAT 19.3% · OPM change 2 pp 100% evidence 19.4/25 ROCE 33.3% · OPM 22% 100% evidence 11.4/20 P/E 60.5× · PEG 1.18 65% evidence 10.0/20 RS sector — · RS bench — · 1Y —9 of 12 weeks ahead 0% evidence
Exact sum: 23.7 + 19.4 + 11.4 + 10 = 64.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Ajanta Pharma LtdAJANTPHARM 61.4/100Mixed-positive evidence100% evidence BREAKING OUT 21.9/35 Revenue 20.2% · PAT 22.2% · OPM change -1 pp 100% evidence 18.9/25 ROCE 34.5% · OPM 26% 100% evidence 5.7/20 P/E 38.2× · PEG 2.31 100% evidence 14.9/20 RS sector 3.1% · RS bench 21% · 1Y 24.5%7 of 12 weeks ahead 100% evidence
Exact sum: 21.9 + 18.9 + 5.7 + 14.9 = 61.4 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
9Zydus Lifesciences LtdZYDUSLIFE 61.2/100Mixed-positive evidence96% evidence LEADER 17.1/35 Revenue 16.8% · PAT 9.7% · OPM change 1 pp 88% evidence 17.8/25 ROCE 21.1% · OPM 34% 100% evidence 13.9/20 P/E 20.7× · PEG 1.4 100% evidence 12.4/20 RS sector -3.3% · RS bench 13.8% · 1Y 15.4%12 of 12 weeks ahead 100% evidence
Exact sum: 17.1 + 17.8 + 13.9 + 12.4 = 61.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10Rubicon Research LtdRUBICON 60.9/100Mixed-positive evidence69% evidence BREAKING OUT 23.9/35 Revenue 36.6% · PAT 84.3% · OPM change 3 pp 88% evidence 21.4/25 ROCE 28.4% · OPM 23% 100% evidence 5.6/20 P/E 99.9× · PEG 2.65 65% evidence 10.0/20 RS sector — · RS bench — · 1Y —12 of 12 weeks ahead 0% evidence
Exact sum: 23.9 + 21.4 + 5.6 + 10 = 60.9 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
11Ipca Laboratories LtdIPCALAB 58.9/100Mixed-positive evidence78% evidence BREAKING OUT 22.2/35 Revenue 7.9% · PAT 51% · OPM change 1 pp 83% evidence 15.3/25 ROCE 17% · OPM 20% 76% evidence 11.0/20 P/E 37.6× · PEG — 50% evidence 10.4/20 RS sector -2% · RS bench 15.1% · 1Y 15.8%7 of 12 weeks ahead 100% evidence
Exact sum: 22.2 + 15.3 + 11 + 10.4 = 58.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12Marksans Pharma LtdMARKSANS 58.3/100Mixed-positive evidence83% evidence TURNING 19.9/35 Revenue 12.5% · PAT 9.7% · OPM change 5 pp 88% evidence 18.1/25 ROCE 18.8% · OPM 23% 100% evidence 11.5/20 P/E 28× · PEG 1.41 65% evidence 8.8/20 RS sector -18.1% · RS bench 30.6% · 1Y 13.4%11 of 11 weeks ahead 70% evidence
Exact sum: 19.9 + 18.1 + 11.5 + 8.8 = 58.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13Wockhardt LtdWOCKPHARMA 58.1/100Mixed-positive evidence71% evidence LEADER 22.6/35 Revenue 12% · PAT 100% · OPM change 14 pp 65% evidence 9.0/25 ROCE 7.5% · OPM 23% 100% evidence 8.7/20 P/E 112× · PEG — 15% evidence 17.8/20 RS sector 10.5% · RS bench 29.2% · 1Y 16.8%12 of 12 weeks ahead 100% evidence
Exact sum: 22.6 + 9 + 8.7 + 17.8 = 58.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
14Accent Microcell LtdACCENTMIC 58.1/100Mixed-positive evidence63% evidence LEADER 17.5/35 Revenue — · PAT — · OPM change -1 pp 26% evidence 16.9/25 ROCE 24.9% · OPM 16% 95% evidence 9.7/20 P/E 27.8× · PEG — 50% evidence 14.0/20 RS sector 18.5% · RS bench 37.8% · 1Y 85.3%12 of 12 weeks ahead 100% evidence
Exact sum: 17.5 + 16.9 + 9.7 + 14 = 58.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15Amrutanjan Health Care LtdAMRUTANJAN 55.9/100Mixed-positive evidence77% evidence ASLEEP 20.9/35 Revenue 11.3% · PAT 11.8% · OPM change 4 pp 83% evidence 17.0/25 ROCE 24.8% · OPM 17% 95% evidence 14.2/20 P/E 23.1× · PEG — 50% evidence 3.8/20 RS sector -24.6% · RS bench -18.4% · 1Y -24.2%0 of 10 weeks ahead 70% evidence
Exact sum: 20.9 + 17 + 14.2 + 3.8 = 55.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16RPG Life Sciences LtdRPGLIFE 54.0/100Mixed-positive evidence93% evidence LEADER 11.8/35 Revenue 11.9% · PAT -34.1% · OPM change 1 pp 100% evidence 17.3/25 ROCE 25.7% · OPM 22% 100% evidence 10.2/20 P/E 39.2× · PEG 1.43 65% evidence 14.7/20 RS sector 2.5% · RS bench 20.8% · 1Y 11.1%12 of 12 weeks ahead 100% evidence
Exact sum: 11.8 + 17.3 + 10.2 + 14.7 = 54 · Decision use: Price leads the evidence: RS versus the benchmark is 20.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
17Kilitch Drugs (India) LtdKILITCH 53.7/100Mixed-positive evidence83% evidence BREAKING OUT 18.2/35 Revenue 19.8% · PAT 16% · OPM change 1 pp 83% evidence 10.7/25 ROCE 14.4% · OPM 25% 95% evidence 14.0/20 P/E 21.6× · PEG — 50% evidence 10.8/20 RS sector -10.2% · RS bench 6.2% · 1Y -15%10 of 12 weeks ahead 100% evidence
Exact sum: 18.2 + 10.7 + 14 + 10.8 = 53.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18Alkem Laboratories LtdALKEM 53.6/100Mixed-positive evidence78% evidence TURNING 19.8/35 Revenue 13.5% · PAT 6.1% · OPM change 2 pp 83% evidence 16.3/25 ROCE 21.2% · OPM 14% 76% evidence 11.9/20 P/E 28.2× · PEG — 50% evidence 5.6/20 RS sector -12.9% · RS bench 3% · 1Y 14.8%2 of 12 weeks ahead 100% evidence
Exact sum: 19.8 + 16.3 + 11.9 + 5.6 = 53.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19FDC LtdFDC 52.2/100Mixed-positive evidence90% evidence TURNING 16.7/35 Revenue 3% · PAT 4.9% · OPM change 7 pp 88% evidence 14.8/25 ROCE 16.7% · OPM 18% 100% evidence 15.7/20 P/E 22.5× · PEG 0.93 100% evidence 5.0/20 RS sector -25.2% · RS bench -0.4% · 1Y -16.2%6 of 10 weeks ahead 70% evidence
Exact sum: 16.7 + 14.8 + 15.7 + 5 = 52.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20ERIS Lifesciences LtdERIS 51.6/100Mixed-positive evidence76% evidence TURNING 21.0/35 Revenue 9.6% · PAT 62.2% · OPM change -2 pp 95% evidence 14.1/25 ROCE 14.1% · OPM 34% 76% evidence 11.1/20 P/E 28.6× · PEG — 50% evidence 5.4/20 RS sector -13.9% · RS bench -10.4% · 1Y -24.6%0 of 10 weeks ahead 70% evidence
Exact sum: 21 + 14.1 + 11.1 + 5.4 = 51.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
21Akums Drugs & Pharmaceuticals LtdAKUMS 51.0/100Mixed-positive evidence71% evidence LEADER 13.9/35 Revenue 5.9% · PAT -25.3% · OPM change 4 pp 83% evidence 10.3/25 ROCE 14.9% · OPM 13% 76% evidence 9.6/20 P/E 38.6× · PEG — 15% evidence 17.2/20 RS sector 11.1% · RS bench 29.9% · 1Y 24.2%12 of 12 weeks ahead 100% evidence
Exact sum: 13.9 + 10.3 + 9.6 + 17.2 = 51 · Decision use: Price leads the evidence: RS versus the benchmark is 29.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
22J B Chemicals & Pharmaceuticals LtdJBCHEPHARM 47.1/100Mixed-negative evidence96% evidence 11.1/35 Revenue 5.9% · PAT 7.4% · OPM change -2 pp 88% evidence 19.9/25 ROCE 25.4% · OPM 22% 100% evidence 3.7/20 P/E 53.8× · PEG 2.34 100% evidence 12.4/20 RS sector 2.9% · RS bench 23.5% · 1Y 41%6 of 10 weeks ahead 100% evidence
Exact sum: 11.1 + 19.9 + 3.7 + 12.4 = 47.1 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
23Sun Pharmaceutical Industries LtdSUNPHARMA 46.4/100Mixed-negative evidence100% evidence BREAKING OUT 17.8/35 Revenue 11.4% · PAT 16.5% · OPM change -2 pp 100% evidence 16.3/25 ROCE 20.5% · OPM 29% 100% evidence 4.0/20 P/E 37.8× · PEG 3.8 100% evidence 8.3/20 RS sector -4.7% · RS bench 12.3% · 1Y 17.2%7 of 12 weeks ahead 100% evidence
Exact sum: 17.8 + 16.3 + 4 + 8.3 = 46.4 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
24Strides Pharma Science LtdSTAR 46.1/100Mixed-negative evidence80% evidence FADING 16.2/35 Revenue 8.1% · PAT 79.1% · OPM change -1 pp 95% evidence 12.1/25 ROCE 18.3% · OPM 18% 95% evidence 11.3/20 P/E 16.3× · PEG — 15% evidence 6.5/20 RS sector -9.2% · RS bench 6.6% · 1Y 12.9%9 of 12 weeks ahead 100% evidence
Exact sum: 16.2 + 12.1 + 11.3 + 6.5 = 46.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
25Torrent Pharmaceuticals LtdTORNTPHARM 45.5/100Mixed-negative evidence100% evidence BREAKING OUT 16.7/35 Revenue 32.9% · PAT 7.7% · OPM change 2 pp 100% evidence 13.2/25 ROCE 15.2% · OPM 34% 100% evidence 0.9/20 P/E 87.3× · PEG 5.11 100% evidence 14.7/20 RS sector 5.4% · RS bench 23.6% · 1Y 41.6%7 of 12 weeks ahead 100% evidence
Exact sum: 16.7 + 13.2 + 0.9 + 14.7 = 45.5 · Decision use: Price leads the evidence: RS versus the benchmark is 23.6%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
26Biocon LtdBIOCON 42.5/100Mixed-negative evidence96% evidence BREAKING OUT 12.1/35 Revenue 10.9% · PAT -74.2% · OPM change -1 pp 88% evidence 10.8/25 ROCE 3.6% · OPM 23% 100% evidence 9.9/20 P/E 178× · PEG 0.82 100% evidence 9.7/20 RS sector -7.4% · RS bench 9% · 1Y 8%8 of 12 weeks ahead 100% evidence
Exact sum: 12.1 + 10.8 + 9.9 + 9.7 = 42.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
27Mankind Pharma LtdMANKIND 42.4/100Mixed-negative evidence100% evidence BREAKING OUT 17.1/35 Revenue 14.2% · PAT 8% · OPM change 2 pp 100% evidence 12.6/25 ROCE 13.5% · OPM 26% 100% evidence 4.9/20 P/E 47.8× · PEG 2.81 100% evidence 7.8/20 RS sector -11.1% · RS bench 4.9% · 1Y -5.1%10 of 12 weeks ahead 100% evidence
Exact sum: 17.1 + 12.6 + 4.9 + 7.8 = 42.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
28Gufic BioSciences LtdGUFICBIO 41.9/100Mixed-negative evidence90% evidence TURNING 19.6/35 Revenue 15.1% · PAT -8.6% · OPM change 6 pp 88% evidence 12.6/25 ROCE 12.3% · OPM 19% 100% evidence 2.0/20 P/E 60.9× · PEG 4.78 100% evidence 7.7/20 RS sector -18.5% · RS bench 14.8% · 1Y 0.7%9 of 11 weeks ahead 70% evidence
Exact sum: 19.6 + 12.6 + 2 + 7.7 = 41.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
29Aurobindo Pharma LtdAUROPHARMA 41.1/100Mixed-negative evidence96% evidence LEADER 11.5/35 Revenue 6.1% · PAT 0.6% · OPM change -1 pp 88% evidence 13.3/25 ROCE 12.8% · OPM 20% 100% evidence 4.1/20 P/E 25.9× · PEG 2.67 100% evidence 12.2/20 RS sector 4.4% · RS bench 22.3% · 1Y 40.7%11 of 12 weeks ahead 100% evidence
Exact sum: 11.5 + 13.3 + 4.1 + 12.2 = 41.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
30Natco Pharma LtdNATCOPHARM 39.8/100Mixed-negative evidence96% evidence ASLEEP 5.1/35 Revenue -8% · PAT -24.6% · OPM change -28 pp 88% evidence 12.9/25 ROCE 17.1% · OPM 17% 100% evidence 19.1/20 P/E 11.6× · PEG 0.76 100% evidence 2.7/20 RS sector -17.3% · RS bench -2.6% · 1Y -5.2%2 of 12 weeks ahead 100% evidence
Exact sum: 5.1 + 12.9 + 19.1 + 2.7 = 39.8 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
31Lincoln Pharmaceuticals Ltdthis pageLINCOLN 39.4/100Mixed-negative evidence83% evidence ASLEEP 11.6/35 Revenue 7.5% · PAT 7.2% · OPM change -3 pp 83% evidence 14.2/25 ROCE 16.3% · OPM 13% 95% evidence 9.8/20 P/E 13.2× · PEG — 50% evidence 3.8/20 RS sector -14.7% · RS bench 0.2% · 1Y 6.4%1 of 12 weeks ahead 100% evidence
Exact sum: 11.6 + 14.2 + 9.8 + 3.8 = 39.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
32Zim Laboratories LtdZIMLAB 39.1/100Mixed-negative evidence76% evidence LEADER 6.0/35 Revenue -1.2% · PAT -51.9% · OPM change -6.6 pp 83% evidence 6.1/25 ROCE 4.8% · OPM 6.8% 95% evidence 8.7/20 P/E 139× · PEG — 15% evidence 18.3/20 RS sector 16.5% · RS bench 35.4% · 1Y 0%12 of 12 weeks ahead 100% evidence
Exact sum: 6 + 6.1 + 8.7 + 18.3 = 39.1 · Decision use: Price leads the evidence: RS versus the benchmark is 35.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
33Suven Life Sciences LtdSUVEN 38.4/100Thin evidence · provisional58% evidence TURNING 18.2/35 Revenue 14.3% · PAT -72% · OPM change -350 pp 65% evidence 2.1/25 ROCE -76.9% · OPM — 84% evidence 10.0/20 P/E — · PEG — 0% evidence 8.1/20 RS sector -30.9% · RS bench 46.4% · 1Y 9.2%11 of 11 weeks ahead 70% evidence
Exact sum: 18.2 + 2.1 + 10 + 8.1 = 38.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
34Indoco Remedies LtdINDOCO 38.2/100Thin evidence · provisional58% evidence TURNING 20.4/35 Revenue 11.9% · PAT 100% · OPM change 5 pp 71% evidence 4.3/25 ROCE 0.9% · OPM 9% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 3.5/20 RS sector -32.2% · RS bench -9.2% · 1Y -30.8%6 of 10 weeks ahead 70% evidence
Exact sum: 20.4 + 4.3 + 10 + 3.5 = 38.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
35Alembic Pharmaceuticals LtdAPLLTD 38.1/100Mixed-negative evidence90% evidence TURNING 14.4/35 Revenue 10.1% · PAT 15.3% · OPM change -3 pp 88% evidence 6.9/25 ROCE 12.6% · OPM 12% 100% evidence 12.3/20 P/E 21.4× · PEG 1.74 100% evidence 4.5/20 RS sector -24.1% · RS bench -4.7% · 1Y -20.1%2 of 11 weeks ahead 70% evidence
Exact sum: 14.4 + 6.9 + 12.3 + 4.5 = 38.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
36Bajaj Healthcare LtdBAJAJHCARE 36.0/100Mixed-negative evidence87% evidence FADING 9.9/35 Revenue 12.3% · PAT -59.1% · OPM change 1 pp 95% evidence 10.4/25 ROCE 11.5% · OPM 17% 95% evidence 10.8/20 P/E 20.1× · PEG — 50% evidence 4.9/20 RS sector -26.4% · RS bench -12.1% · 1Y -34.9%2 of 12 weeks ahead 100% evidence
Exact sum: 9.9 + 10.4 + 10.8 + 4.9 = 36 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
37Cipla LtdCIPLA 35.9/100Mixed-negative evidence100% evidence BREAKING OUT 4.9/35 Revenue 1.8% · PAT -37.7% · OPM change -9 pp 100% evidence 11.3/25 ROCE 15.5% · OPM 17% 100% evidence 12.1/20 P/E 33.2× · PEG 1.25 100% evidence 7.6/20 RS sector -14.5% · RS bench 1.3% · 1Y -3.9%7 of 12 weeks ahead 100% evidence
Exact sum: 4.9 + 11.3 + 12.1 + 7.6 = 35.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
38Bharat Parenterals Ltd541096 34.7/100Thin evidence · provisional55% evidence TURNING 13.5/35 Revenue 1.5% · PAT 37.5% · OPM change -2.7 pp 62% evidence 3.5/25 ROCE -1.8% · OPM -0.5% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 7.7/20 RS sector -20.9% · RS bench 17.8% · 1Y -5.2%11 of 11 weeks ahead 70% evidence
Exact sum: 13.5 + 3.5 + 10 + 7.7 = 34.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
39Dr Reddys Laboratories LtdDRREDDY 29.9/100Adverse evidence100% evidence ASLEEP 4.1/35 Revenue -0.9% · PAT -44.6% · OPM change -14 pp 100% evidence 10.7/25 ROCE 13% · OPM 11% 100% evidence 13.5/20 P/E 29.7× · PEG 1.15 100% evidence 1.6/20 RS sector -24.3% · RS bench -10.6% · 1Y -10.2%2 of 12 weeks ahead 100% evidence
Exact sum: 4.1 + 10.7 + 13.5 + 1.6 = 29.9 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
40Influx Healthtech LtdINFLUX 65.1/100Thin evidence · provisional50% evidence BREAKING OUT 19.1/35 Revenue — · PAT — · OPM change -1 pp 26% evidence 20.3/25 ROCE 40% · OPM 19% 95% evidence 10.0/20 P/E 33.4× · PEG — 15% evidence 15.7/20 RS sector 12.1% · RS bench 31.1% · 1Y 90.7%9 of 12 weeks ahead 70% evidence
Exact sum: 19.1 + 20.3 + 10 + 15.7 = 65.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
41Syncom Healthcare LtdSYNCOM 50.5/100Thin evidence · provisional31% evidence 17.2/35 Revenue -69.4% · PAT 63.5% · OPM change — 16% evidence 6.9/25 ROCE -20.2% · OPM -225.7% 46% evidence 10.0/20 P/E — · PEG — 0% evidence 16.4/20 RS sector 29.1% · RS bench 45.7% · 1Y —9 of 12 weeks ahead to 2021-06-30 70% evidence
Exact sum: 17.2 + 6.9 + 10 + 16.4 = 50.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
42Fredun Pharmaceuticals Ltd539730 47.8/100Thin evidence · provisional49% evidence ASLEEP 19.1/35 Revenue — · PAT — · OPM change 4 pp 20% evidence 14.7/25 ROCE 21.3% · OPM 14% 76% evidence 9.2/20 P/E 50× · PEG — 15% evidence 4.8/20 RS sector -45.5% · RS bench 59.4% · 1Y 6.5%2 of 12 weeks ahead 100% evidence
Exact sum: 19.1 + 14.7 + 9.2 + 4.8 = 47.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
43Sai Parenterals LtdSAIPARENT 39.1/100Thin evidence · provisional33% evidence TURNING 15.2/35 Revenue — · PAT — · OPM change — 16% evidence 5.3/25 ROCE 6% · OPM 13% 95% evidence 8.6/20 P/E 170× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —3 of 3 weeks ahead 0% evidence
Exact sum: 15.2 + 5.3 + 8.6 + 10 = 39.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

15 · Frequently asked questions

Frequently asked questions

What is Lincoln Pharmaceuticals Ltd's share price today?

Lincoln Pharmaceuticals Ltd trades at ₹577, +8.1% over the past year. The company is valued at ₹1,156 Cr. The stock sits at 44% of its 52-week range of ₹453–₹734, −2.6% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 20 weeks in. — as of 31 July 2026.

What were Lincoln Pharmaceuticals Ltd's latest quarterly results?

Lincoln Pharmaceuticals Ltd reported revenue of ₹187 Cr and net profit of ₹12.0 Cr for the Mar 26 quarter. Revenue rose 11.3% and profit rose 0.0% year on year. Earnings per share were ₹5.81. The operating margin was 13.0%, 3.0 pp lower than a year earlier. — as of 31 July 2026.

What is Lincoln Pharmaceuticals Ltd's revenue?

Lincoln Pharmaceuticals Ltd reported revenue of ₹187 Cr in the Mar 26 quarter, +11.3% year on year. For the full FY26 fiscal year, revenue was ₹671 Cr (+7.7%). Over the last 10 years revenue compounded at 5.3% a year. — as of 31 July 2026.

What is Lincoln Pharmaceuticals Ltd's profit?

Lincoln Pharmaceuticals Ltd earned ₹12.0 Cr of net profit in the Mar 26 quarter, +0.0% year on year. Full-year FY26 profit was ₹88.0 Cr. The operating margin ran 13.0% in the latest quarter. — as of 31 July 2026.

What is Lincoln Pharmaceuticals Ltd's market cap?

Lincoln Pharmaceuticals Ltd's market capitalisation is ₹1,156 Cr at a share price of ₹577. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.

What is Lincoln Pharmaceuticals Ltd's P/E ratio?

Lincoln Pharmaceuticals Ltd trades at a P/E of 13.2×, at the 73rd percentile of its own 10-year range, against a long-run median of 11.2×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.

Does Lincoln Pharmaceuticals Ltd pay a dividend?

Yes — Lincoln Pharmaceuticals Ltd's dividend payout was 4% of profit in FY26, and it recorded a payout in each of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 31 July 2026.

Is Lincoln Pharmaceuticals Ltd overvalued?

On its own history, Lincoln Pharmaceuticals Ltd looks expensive against its own history: its P/E of 13.2× sits at the 73rd percentile of its 10-year range (long-run median 11.2×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 31 July 2026.

Is Lincoln Pharmaceuticals Ltd growing?

The picture is mixed for Lincoln Pharmaceuticals Ltd: latest-quarter revenue +11.3% year on year, profit +0.0%, and the margin −3.0 pp at 13.0%. The 10-year compound rates are 5.3% (revenue) and 13.9% (profit). The earnings engine currently reads: mixed — as of 31 July 2026.

How is Lincoln Pharmaceuticals Ltd performing?

Lincoln Pharmaceuticals Ltd is in a confirmed uptrend, 20 weeks in. Its latest quarter's revenue rose 11.3% and profit rose 0.0% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 6 weeks. This describes what the data did, not a rating. — as of 31 July 2026.

What stage is Lincoln Pharmaceuticals Ltd in?

Turning around — profit growth swung from −25.0% at the trough to +0.0% off a 4-quarter-old trough (single-quarter readings), ROCE slipping at 16.0%. The read comes from the last 12 quarters of growth (revenue growth +11.3% latest, profit growth +0.0% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 31 July 2026.

Is Lincoln Pharmaceuticals Ltd in an uptrend?

Yes — the price is in a confirmed uptrend (week 20 of stage 2), trading −2.6% versus its 200-day average and at 44% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 31 July 2026.

Is Lincoln Pharmaceuticals Ltd beating the market?

Not lately — on a trailing-13-week view Lincoln Pharmaceuticals Ltd is currently behind the NIFTY 500 (6 weeks and counting; last ahead the week of 2026-06-25), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +290% against the NIFTY 500's +282% — ahead of the index over the full window. — as of 31 July 2026.

Will Lincoln Pharmaceuticals Ltd's share price go up?

This page publishes no price forecast for Lincoln Pharmaceuticals Ltd. What it measures instead: the share price is ₹577, the price is in a confirmed uptrend 20 weeks in. Its P/E of 13.2× sits at the 73rd percentile of its own 10-year range. — as of 31 July 2026.

Who owns Lincoln Pharmaceuticals Ltd?

Promoters hold 49.8% of Lincoln Pharmaceuticals Ltd, foreign institutions 4.6%, domestic institutions 0.3% and the public 45.4% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 31 July 2026.

Does Lincoln Pharmaceuticals Ltd have too much debt?

No — Lincoln Pharmaceuticals Ltd's debt-to-equity is 0.01, and operating profit covers the interest bill 98×. FY26 borrowings were ₹4.0 Cr against equity of ₹758 Cr. The returns on this page are earned, not borrowed — as of 31 July 2026.

What is Lincoln Pharmaceuticals Ltd's capex?

Lincoln Pharmaceuticals Ltd spent ₹76.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹24.0 Cr, with ₹5.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.

What is Lincoln Pharmaceuticals Ltd's cash flow?

Lincoln Pharmaceuticals Ltd generated ₹106 Cr of operating cash flow in FY26 and ₹82.0 Cr of free cash flow after ₹24.0 Cr of capital spending. Reported profit that year was ₹88.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 31 July 2026.

Is Lincoln Pharmaceuticals Ltd's profit real cash?

Yes — over the last 3 fiscal years, 100% of Lincoln Pharmaceuticals Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹106 Cr against reported profit of ₹88.0 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 31 July 2026.

Where is Lincoln Pharmaceuticals Ltd in its business cycle?

Lincoln Pharmaceuticals Ltd's FY26 operating margin was 15.0%, against a 13-year band of 10.0%–21.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 13.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.

What could break the Lincoln Pharmaceuticals Ltd story?

Biggest watch item: the P/E sits at the 73rd percentile of its own range — the multiple has already done part of the work. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 31 July 2026.

Is Lincoln Pharmaceuticals Ltd a stock worth studying right now?

This is not investment advice. The machine read: Lincoln Pharmaceuticals Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: the next one or two quarters of delivery. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 31 July 2026.

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