# Lincoln Pharmaceuticals share price today (Lincoln Pharmaceuticals Ltd, NSE: LINCOLN)

> Lincoln Pharmaceuticals share price today: ₹504.35 at the NSE close on 3 November 2026, down 4.8% in a year. Lincoln Pharmaceuticals (NSE: LINCOLN) is worth ₹1,011 crore, trades at a P/E of 10.4 and has closed between ₹453.10 and ₹734.15 over the past 52 weeks. > Lincoln Pharmaceuticals Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. LINCOLN · Pharma - Formulators · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/lincoln-pharmaceuticals-ltd

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## Key numbers

- Business trend: Turning around, from the last 12 quarters
- Price: ₹504.35 (−4.8% in a year)
- P/E: 10.4× (lower than 61% of the last 11 years)
- Revenue (Sep 2026): ₹191 Cr (+17.2% on a year ago)
- Profit (Sep 2026): ₹20.0 Cr (+0.0% on a year ago)
- Operating margin: 12.0% (−4.0 points on a year ago)
- ROCE: 16%, FY26
- ROIC: 12.2%, against a 12.0% cost of capital: +0.2 points

Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. ## What is the Lincoln Pharmaceuticals share price today? Lincoln Pharmaceuticals Ltd's share price was ₹504.35 at the close on 3 November 2026. It has been falling for 1 week. That is 14.2% 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 18% of the way up from that low. 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 +241% 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. ## What changed at Lincoln Pharmaceuticals this quarter? 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. ## What are Lincoln Pharmaceuticals' latest quarterly results? 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

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹191 crore | ₹163 crore | +17.2% |
| Profit | ₹20.0 crore | ₹20.0 crore | 0.0% |
| Earnings per share | ₹10.20 | ₹9.98 | +2.2% |
| Operating margin | 12.0% | 16.0% | −4.0 points |

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.)

## What is the Lincoln Pharmaceuticals share price history? Lincoln Pharmaceuticals closed at ₹504.35 on 3 November 2026, down 4.8% from ₹529.80 a year earlier (31 October 2025) and up 44.7% over five years. Its highest weekly close since February 2016 was ₹929.85 on 13 December 2024. ### Lincoln Pharmaceuticals share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹514.70 | −2.0% |
| 1 month ago · 1 Oct 2026 | ₹582.15 | −13.4% |
| 6 months ago · 30 Apr 2026 | ₹645.80 | −21.9% |
| 1 year ago · 31 Oct 2025 | ₹529.80 | −4.8% |
| 3 years ago · 3 Nov 2023 | ₹551.00 | −8.5% |
| 5 years ago · 4 Nov 2021 | ₹348.65 | +44.7% |
| 10 years ago · 4 Nov 2016 | ₹212.70 | +137.1% |
| Earliest weekly close in our records · 26 Feb 2016 | ₹147.95 | +240.9% |
| Highest weekly close since February 2016 · 13 Dec 2024 | ₹929.85 | −45.8% |
| Lowest weekly close since February 2016 · 20 Mar 2020 | ₹101.50 | +396.9% |
| 52-week high (weekly close) · 22 May 2026 | ₹734.15 | −31.3% |
| 52-week low (weekly close) · 23 Jan 2026 | ₹453.10 | +11.3% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (564 weekly closes from 26 February 2016 to 3 November 2026.)

## What is the latest news on Lincoln Pharmaceuticals? 3 Nov 2026: Lincoln Pharmaceuticals closed at ₹504.35, down 2.0% on the week and down 13.4% 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. ## What dividend does Lincoln Pharmaceuticals pay? Lincoln Pharmaceuticals paid ₹1.80 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.36% at the ₹504.35 close on 3 November 2026. The last was a dividend of ₹1.80 a share, ex-date 11 September 2026. ### Lincoln Pharmaceuticals dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 11 Sep 2026 | ₹1.80 | Dividend |
| 12 Sep 2025 | ₹1.80 | Dividend |
| 13 Sep 2024 | ₹1.80 | Dividend |
| 15 Sep 2023 | ₹1.50 | Dividend |
| 15 Sep 2022 | ₹1.50 | Dividend |
| 16 Sep 2021 | ₹1.50 | Dividend |

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. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

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 4 November 2026.)

## What did Lincoln Pharmaceuticals management say on the latest results call? 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](https://files.tijorifinance.com/insight/india/3886/Conference Call/CC-Feb26.pdf). (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 the future of Lincoln Pharmaceuticals? What is changing in the business? 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.)

## What could change the Lincoln Pharmaceuticals story? What are the risks? 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.)

## What to watch in Lincoln Pharmaceuticals' next results? 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. | What to check | Why |
| --- | --- |
| January to March 2026 profit ex non-operating income, must exceed ₹15 crore to demonstrate trend improvement. | Management Guidance Credibility, Three Consecutive Misses |
| FY26 full-year operating margin, must stay above 14.5%; Cepha block operating margin contribution in FY27 calls. | Operating margin Structural Compression, No Recovery Signal |
| FY27 H1 revenue, must show >15% on a year earlier to confirm acceleration; Cepha block quarterly disclosures. | Revenue Growth Below 15-18% Long-Term Goal |
| Canada re-audit clearance announcement; CDMO contract signing news. | Canada Re-Audit Pending, Blocks Regulated Market Expansion |
| 10Y percentile after January to March 2026 results. |  |
| Africa revenue share in quarterly disclosures; payment delay trends. | Africa Geopolitical Concentration Risk |

## Which stock lists is Lincoln Pharmaceuticals on? Lincoln Pharmaceuticals is on one of our India lists: Pharma stocks. [Pharma stocks Market value (₹ crore): 1025.8361706388946](https://www.sectoralpha.in/sectors/pharma-stocks-india)

## Is Lincoln Pharmaceuticals profitable? 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. 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. ## How much revenue does Lincoln Pharmaceuticals make, and is it growing? 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. 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). ## How much of every ₹100 of sales does Lincoln Pharmaceuticals keep? 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. 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. ## Is Lincoln Pharmaceuticals' profit turning into cash? 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. 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. ## Where does Lincoln Pharmaceuticals' cash go? 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. 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. ## What is Lincoln Pharmaceuticals' P/E ratio, and how does it compare with its own history? Lincoln Pharmaceuticals Ltd's P/E is 10.4×, in the middle of its own history: higher than 39% 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. Why the multiple is where it is: over the past year earnings per share moved +6.7% while the price moved −4.8%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +7.7% a year; about +8.4% a year came from earnings growth and about −0.7 percentage points from the multiple (roughly no change); over 10 years the price moved +9.0% a year; about +12.1% a year came from earnings growth and about −3.1 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Lincoln Pharmaceuticals business getting better or worse? Lincoln Pharmaceuticals Ltd's business is turning around. Profit growth has swung from −12.1% at its low to +19.8%, improving for 4 quarters in a row, with ROCE steady at 16.4%. This is based on 12 quarters of 4 measures. Why it matters: a turn in growth is often where a bigger change starts. The lines say a turn is forming, so the question is whether the next quarters confirm it. ## What is the Lincoln Pharmaceuticals story, and has it been checked? Lincoln Pharmaceuticals Ltd's story is not scored yet against the checks our research set on 17 May 2026. Where it sits in its own cycle: NEAR PEAK. Our read, 17 May 2026. From the numbers. DII stake-building is the institutional signal per…

From the price. Price stage 4, week 1, below its 200-day line, relative strength falling. From the research. Where they disagree. DII stake-building is the institutional signal per pe pb expansion snapshots. What is proven. The test written in advance. Management Guidance Credibility, Three Consecutive Misses. Measured by: Management Guidance Credibility, Three Consecutive Misses Q4 FY26 PAT ex non-operating income, must exceed Rs 15 Cr to demonstrate trend improvement by the next result. The test written in advance. OPM Structural Compression, No Recovery Signal. Measured by: OPM Structural Compression, No Recovery Signal FY26 full-year OPM, must stay above 14.5%; Cepha block OPM contribution in FY27 calls by the next result. The test written in advance. Revenue Growth Below 15-18% Long-Term Goal. Measured by: Revenue Growth Below 15-18% Long-Term Goal FY27 H1 revenue, must show >15% YoY to confirm acceleration; Cepha block quarterly disclosures by the next result. Lever 1 · Operating leverage: building. Separate Cepha facility crossed break-even ahead of schedule; Rs 32-34 Cr in 9M FY26 vs Rs 45 Cr full-year goal; FY27 guide Rs 90-100 Cr is doubling, if regulatory approvals come through. What proves it keeps working: Cephalosporin Block Revenue Ramp. It stops working if Q4 FY26 PAT ex non-operating income, must exceed Rs 15 Cr to demonstrate trend improvement. Lever 2 · Value-added mix: building. 6 manufacturing lines approved by Health Canada; $4-5M current Canada revenue aiming for $10-15M; SRA credential enables 80+ market access indirectly. What proves it keeps working: Health Canada SRA, Regulated Market Unlock. It stops working if Q4 FY26 PAT ex non-operating income, must exceed Rs 15 Cr to demonstrate trend improvement. Lever 10 · New geographies: building. 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. What proves it keeps working: Geographical Expansion, 60 to 90 Countries. It stops working if Q4 FY26 PAT ex non-operating income, must exceed Rs 15 Cr to demonstrate trend improvement. Lever 5 · Regulatory approval: building. 5 CDMO/CMO contracts signed + 18-19 in process across regulated markets; positioned as incremental bonus revenue toward Rs 1,000 Cr FY28 goal. What proves it keeps working: CDMO/CMO Contracts Commercializing. It stops working if Q4 FY26 PAT ex non-operating income, must exceed Rs 15 Cr to demonstrate trend improvement. Sources: our stock research file (17 May 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Lincoln Pharmaceuticals management deliver what it promised? What Lincoln Pharmaceuticals Ltd's management promised, against what actually happened: 3 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. EBITDA Margin Guidance Downgrade · 18 February 2026. In May 2024, management set a clear margin expectation of 20-22%, framing it as the goal they were managing expenses towards. By February 2026, this guidance was significantly lowered to 15-18%, with management characterizing 15% as 'ideal' and 'safe,' representing a material compression in profitability expectations. Earlier call (May 2024): “margins you are expecting also around somewhere between 20 to 22. Between 20 to 22, that”. Later call (Feb 2026): “To be on the safe side, 15% would be ideal, but we might reach 15-18%. That is what we can expect. I don”. Australia (TGA) Market Launch Delay · 18 February 2026. The May 2024 call indicated immediate readiness to enter the Australian market, citing possession of necessary certificates. However, the February 2026 call reveals a failed attempt to acquire product authorizations (MAs), forcing a restart of the filing process and delaying the timeline by 'another year or so.' Earlier call (May 2024): “now we are in plan with Australia also according to the guideline of TGA since we have the TGA... So, we can do that now”. Later call (Feb 2026): “we could not successfully transfer those products to our commercial angle. Now we are in a process where we have to file our own products from the start. That will take another year or so for us to start the TGA business.”

Cephalosporin Revenue Goal Reduction · 18 February 2026. In May 2024, management guided for 55-65 crores in revenue from the Cephalosporin block for the immediate year. Nearly two years later in February 2026, the goal for the current year has effectively shrunk to 45 crores, indicating a failure to ramp up utilization as originally projected. Earlier call (May 2024): “we are expecting this year at least to touch around INR55 crores to INR60 crores to INR65 crores of business from that particular factory.” Later call (Feb 2026): “By the end of this year, we are expecting revenue between 45 crores from that block. About 32-34 crores of that is already done.”

Every quote above is taken word for word from the company’s own earnings calls. ## What is Lincoln Pharmaceuticals management's track record? Management set ₹1,000 crore revenue goal in 3 years at 15-18% growth. January to March 2025 profit was ₹11.62 crore vs ₹18.8 crore on a year earlier, a -38% miss. October to December 2025 profit +37.7% on a year earlier largely inflated by non-operating income (43.63% of profit before tax). ROCE deteriorated from 22.49% avg to 17.79%, ROE from 14.33% to 11.18%. Revenue volatility high, sequential decline 8.39% in October to December 2025. Guidance on ₹1,000 crore goal appears aspirational given current trajectory of ~₹615 crore revenue. Communication historically flagged as weak (Moneylife 2018). ### Regulatory and governance record

No SEBI penalty, promoter fraud, or scam found. CRISIL rating reaffirmed A/Stable as of Jan 2026. Whalesbook headline mentions 'regulatory hurdles' in growth context but no enforcement action found. Older Moneylife article (2018, paywalled) flagged 'poor communication with stakeholders', relevant but dated. (Checked 12 April 2026.)

## How much does Lincoln Pharmaceuticals earn on its capital? Lincoln Pharmaceuticals Ltd earned a ROCE of 16% in FY26. That is up from a low of 11% in FY14. Its return on capital used (ROIC) is 0.2 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 13.1% net margin and 0.75× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 13.1% net margin × 0.75× asset turnover × 1.17× leverage (assets divided by equity) ≈ 11.5% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 12.2% − 12.0% = +0.2 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error. ## Does Lincoln Pharmaceuticals have too much debt? Lincoln Pharmaceuticals Ltd has total debt of ₹3.0 Cr against shareholder equity of ₹812 Cr as of Sep 2026, so its debt is 0.00× its equity, which is very little. Year by year, that ratio went from 0.00 in FY22 to 0.01 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Lincoln Pharmaceuticals shareholding pattern? No group of Lincoln Pharmaceuticals Ltd's owners changed its stake by a full percentage point over the last two years. Promoters moved +0.0 points over the same period, to 49.8%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: −0.6 points over 8 quarters, to 4.5%; Promoters: +0.0 points over 8 quarters, to 49.8%; Domestic institutions: +0.0 points over 8 quarters, to 0.0%. ## How far is Lincoln Pharmaceuticals from balance-sheet trouble? For Lincoln Pharmaceuticals Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. Why this happened. Management describes 24-25 CDMO projects that are commercializing across multiple regulated markets. Five contracts are signed; 18-19 more are in various stages of process. The Health Canada SRA credential is the anchor that makes this pipeline viable. Management explicitly frames CDMO as a 'bonus' on top of organic growth, suggesting the Rs 1,000 Cr FY28 goal could be achievable 'with' rather than 'from' CDMO. The R&D center launching Apr-May 2026 should accelerate dossier development for regulated market submissions. ## How does Lincoln Pharmaceuticals rank in its industry? 46.0 out of 100, rank 26 of 44 in Pharma - Formulators, with 100% of the evidence available. Lincoln Pharmaceuticals Ltd scores 46.0 out of 100 against the 44 companies it is compared with in Pharma - Formulators, ranking 26. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 16.7 + 13.1 + 14.9 + 1.3 = 46. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Lincoln Pharmaceuticals compared with? Lincoln Pharmaceuticals ranks 26 of 44 Pharma - Formulators companies on the 4-Factor Sector Score, with 46.0 out of 100. 1. [Rubicon Research Ltd](https://www.sectoralpha.in/stocks/rubicon-research-ltd) RUBICON · leader · Most evidence points up · 83% evidence 71.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.1/35 · Revenue 46.8% · Profit 91.4% · Operating margin change 2 points · 88% evidence Capital efficiency 18.6/25 · ROCE 28.4% · Operating margin 24% · 100% evidence Valuation 6.2/20 · P/E 92.5× · PEG 2.31 · 65% evidence Relative strength 16.5/20 · Lead over its industry 28.1% · Lead over NIFTY 500 53.6% · 1 year 160.5% · 70% evidence · 11 of 12 weeks ahead Exact sum: 30.1 + 18.6 + 6.2 + 16.5 = 71.4 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Kwality Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/kwality-pharmaceuticals-ltd) KPL · breaking out · Most evidence points up · 81% evidence 71.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.9/35 · Revenue 37.9% · Profit 88.4% · Operating margin change 3 points · 88% evidence Capital efficiency 18.2/25 · ROCE 24.1% · Operating margin 25% · 100% evidence Valuation 11.0/20 · P/E 44.2× · PEG 0.54 · 100% evidence Relative strength 12.3/20 · Lead over its industry n/a · Lead over NIFTY 500 74.4% · 1 year 288.9% · 25% evidence · 9 of 9 weeks ahead Exact sum: 29.9 + 18.2 + 11 + 12.3 = 71.4 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Accent Microcell Ltd](https://www.sectoralpha.in/stocks/accent-microcell-ltd) ACCENTMIC · leader · Most evidence points up · 65% evidence 70.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.4/35 · Revenue n/a · Profit n/a · Operating margin change 7 points · 27% evidence Capital efficiency 21.4/25 · ROCE 24.9% · Operating margin 24% · 100% evidence Valuation 9.1/20 · P/E 26.9× · PEG n/a · 50% evidence Relative strength 18.6/20 · Lead over its industry 21.4% · Lead over NIFTY 500 47.6% · 1 year 132.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 21.4 + 21.4 + 9.1 + 18.6 = 70.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Ajanta Pharma Ltd](https://www.sectoralpha.in/stocks/ajanta-pharma-ltd) AJANTPHARM · leader · Most evidence points up · 100% evidence 69.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.3/35 · Revenue 25% · Profit 29.8% · Operating margin change 7 points · 100% evidence Capital efficiency 21.3/25 · ROCE 34.5% · Operating margin 31% · 100% evidence Valuation 7.1/20 · P/E 34.7× · PEG 1.77 · 100% evidence Relative strength 10.5/20 · Lead over its industry -3.5% · Lead over NIFTY 500 20% · 1 year 42.3% · 100% evidence · 11 of 12 weeks ahead Exact sum: 30.3 + 21.3 + 7.1 + 10.5 = 69.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Glenmark Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/glenmark-pharmaceuticals-ltd) GLENMARK · breaking out · Most evidence points up · 86% evidence 69.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.1/35 · Revenue 32.9% · Profit 100% · Operating margin change 2 points · 88% evidence Capital efficiency 20.3/25 · ROCE 39.8% · Operating margin 20% · 100% evidence Valuation 11.2/20 · P/E 20.8× · PEG n/a · 50% evidence Relative strength 8.6/20 · Lead over its industry -11.4% · Lead over NIFTY 500 10.8% · 1 year 21.5% · 100% evidence · 9 of 12 weeks ahead Exact sum: 29.1 + 20.3 + 11.2 + 8.6 = 69.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Bliss GVS Pharma Ltd](https://www.sectoralpha.in/stocks/bliss-gvs-pharma-ltd) BLISSGVS · leader · Most evidence points up · 82% evidence 67.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.3/35 · Revenue 25% · Profit 43.1% · Operating margin change 8 points · 95% evidence Capital efficiency 14.7/25 · ROCE 16.9% · Operating margin 26% · 76% evidence Valuation 6.4/20 · P/E 42.4× · PEG n/a · 50% evidence Relative strength 16.7/20 · Lead over its industry 59% · Lead over NIFTY 500 86.2% · 1 year 312.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 29.3 + 14.7 + 6.4 + 16.7 = 67.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Fredun Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/fredun-pharmaceuticals-ltd) FREDUN · breaking out · Most evidence points up · 76% evidence 65.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 31.9/43.75 · Revenue 50.3% · Profit 91.3% · Operating margin change 0 points · 88% evidence Capital efficiency 19.0/31.25 · ROCE 21.5% · Operating margin 14% · 100% evidence Valuation 14.9/25 · P/E 52.7× · PEG 0.77 · 100% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 31.9 + 19 + 14.9 = 65.8 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 8. [Lupin Ltd](https://www.sectoralpha.in/stocks/lupin-ltd) LUPIN · quiet · Most evidence points up · 89% evidence 65.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.9/35 · Revenue 28.2% · Profit 49.2% · Operating margin change 2 points · 88% evidence Capital efficiency 19.4/25 · ROCE 29.9% · Operating margin 30% · 100% evidence Valuation 16.1/20 · P/E 15.4× · PEG 0.54 · 65% evidence Relative strength 2.0/20 · Lead over its industry -24.5% · Lead over NIFTY 500 -4.7% · 1 year 2.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 27.9 + 19.4 + 16.1 + 2 = 65.4 · What this means: Earnings are strong; relative strength in its sector is -24.5% and the one-year return is 2.4%. 9. [Ipca Laboratories Ltd](https://www.sectoralpha.in/stocks/ipca-laboratories-ltd) IPCALAB · turning · Most evidence points up · 78% evidence 65.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.0/35 · Revenue 10.6% · Profit 68% · Operating margin change 6 points · 83% evidence Capital efficiency 15.7/25 · ROCE 17% · Operating margin 24% · 76% evidence Valuation 11.0/20 · P/E 35.6× · PEG n/a · 50% evidence Relative strength 14.7/20 · Lead over its industry -0.5% · Lead over NIFTY 500 23.6% · 1 year 51.7% · 100% evidence · 10 of 12 weeks ahead Exact sum: 24 + 15.7 + 11 + 14.7 = 65.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Marksans Pharma Ltd](https://www.sectoralpha.in/stocks/marksans-pharma-ltd) MARKSANS · leader · Evidence leans up · 74% evidence 64.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.7/35 · Revenue 19.6% · Profit 48% · Operating margin change 9 points · 88% evidence Capital efficiency 17.2/25 · ROCE 18.8% · Operating margin 25% · 100% evidence Valuation 6.3/20 · P/E 26.8× · PEG 2.85 · 65% evidence Relative strength 11.9/20 · Lead over its industry n/a · Lead over NIFTY 500 40.1% · 1 year 68.4% · 25% evidence · 12 of 12 weeks ahead Exact sum: 28.7 + 17.2 + 6.3 + 11.9 = 64.1 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 11. [FDC Ltd](https://www.sectoralpha.in/stocks/fdc-ltd) FDC · basing · Evidence leans up · 85% evidence 62.8 out of 100 Growth Capital Valuation Relative
12. [Corona Remedies Ltd](https://www.sectoralpha.in/stocks/corona-remedies-ltd) CORONA · turning · Evidence leans up · 73% evidence 62.5 out of 100 Growth Capital Valuation Relative
13. [Emcure Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/emcure-pharmaceuticals-ltd) EMCURE · losing its lead · Evidence leans up · 71% evidence 61.8 out of 100 Growth Capital Valuation Relative
14. [Mankind Pharma Ltd](https://www.sectoralpha.in/stocks/mankind-pharma-ltd) MANKIND · turning · Evidence leans up · 100% evidence 61.0 out of 100 Growth Capital Valuation Relative
15. [Zydus Lifesciences Ltd](https://www.sectoralpha.in/stocks/zydus-lifesciences-ltd) ZYDUSLIFE · leader · Evidence leans up · 96% evidence 58.1 out of 100 Growth Capital Valuation Relative
16. [Gufic BioSciences Ltd](https://www.sectoralpha.in/stocks/gufic-biosciences-ltd) GUFICBIO · leader · Evidence leans up · 71% evidence 56.2 out of 100 Growth Capital Valuation Relative
17. [ERIS Lifesciences Ltd](https://www.sectoralpha.in/stocks/eris-lifesciences-ltd) ERIS · basing · Evidence leans up · 67% evidence 56.1 out of 100 Growth Capital Valuation Relative
18. [Strides Pharma Science Ltd](https://www.sectoralpha.in/stocks/strides-pharma-science-ltd) STAR · breaking out · Evidence leans up · 75% evidence 55.3 out of 100 Growth Capital Valuation Relative
19. [Caplin Point Laboratories Ltd](https://www.sectoralpha.in/stocks/caplin-point-laboratories-ltd) CAPLIPOINT · losing its lead · Evidence leans up · 96% evidence 54.3 out of 100 Growth Capital Valuation Relative
20. [Wockhardt Ltd](https://www.sectoralpha.in/stocks/wockhardt-ltd) WOCKPHARMA · losing its lead · Evidence leans up · 71% evidence 52.8 out of 100 Growth Capital Valuation Relative
21. [Kilitch Drugs (India) Ltd](https://www.sectoralpha.in/stocks/kilitch-drugs-indialtd) KILITCH · breaking out · Evidence leans up · 78% evidence 51.3 out of 100 Growth Capital Valuation Relative
22. [Akums Drugs & Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/akums-drugs-pharmaceuticals-ltd) AKUMS · leader · Evidence leans up · 71% evidence 50.9 out of 100 Growth Capital Valuation Relative
23. [Alkem Laboratories Ltd](https://www.sectoralpha.in/stocks/alkem-laboratories-ltd) ALKEM · quiet · Evidence leans down · 78% evidence 47.6 out of 100 Growth Capital Valuation Relative
24. [Alembic Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/alembic-pharmaceuticals-ltd) APLLTD · turning · Evidence leans down · 81% evidence 46.9 out of 100 Growth Capital Valuation Relative
25. [Bajaj Healthcare Ltd](https://www.sectoralpha.in/stocks/bajaj-healthcare-ltd) BAJAJHCARE · quiet · Evidence leans down · 100% evidence 46.5 out of 100 Growth Capital Valuation Relative
26. Lincoln Pharmaceuticals Ltd this page LINCOLN · quiet · Evidence leans down · 100% evidence 46.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.7/35 · Revenue 14.1% · Profit 19.8% · Operating margin change -4 points · 100% evidence Capital efficiency 13.1/25 · ROCE 16% · Operating margin 12% · 100% evidence Valuation 14.9/20 · P/E 10.3× · PEG 1.05 · 100% evidence Relative strength 1.3/20 · Lead over its industry -27.3% · Lead over NIFTY 500 -8.8% · 1 year -5.3% · 100% evidence · 0 of 12 weeks ahead Exact sum: 16.7 + 13.1 + 14.9 + 1.3 = 46 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 27. [Bharat Parenterals Ltd](https://www.sectoralpha.in/stocks/bharat-parenterals-ltd) BPLPHARMA · breaking out · Too little evidence to rank firmly · 52% evidence 45.9 out of 100 Growth Capital Valuation Relative
28. [Aurobindo Pharma Ltd](https://www.sectoralpha.in/stocks/aurobindo-pharma-ltd) AUROPHARMA · leader · Evidence leans down · 96% evidence 45.7 out of 100 Growth Capital Valuation Relative
29. [Amrutanjan Health Care Ltd](https://www.sectoralpha.in/stocks/amrutanjan-health-care-ltd) AMRUTANJAN · turning · Evidence leans down · 96% evidence 44.9 out of 100 Growth Capital Valuation Relative
30. [RPG Life Sciences Ltd](https://www.sectoralpha.in/stocks/rpg-life-sciences-ltd) RPGLIFE · losing its lead · Evidence leans down · 100% evidence 43.1 out of 100 Growth Capital Valuation Relative
31. [J B Chemicals & Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/j-b-chemicals-pharmaceuticals-ltd) JBCHEPHARM · Too little evidence to rank firmly · 59% evidence 42.6 out of 100 Growth Capital Valuation Relative
32. [Zim Laboratories Ltd](https://www.sectoralpha.in/stocks/zim-laboratories-ltd) ZIMLAB · leader · Evidence leans down · 71% evidence 42.2 out of 100 Growth Capital Valuation Relative
33. [Sun Pharmaceutical Industries Ltd](https://www.sectoralpha.in/stocks/sun-pharmaceutical-industries-ltd) SUNPHARMA · quiet · Evidence leans down · 100% evidence 39.4 out of 100 Growth Capital Valuation Relative
34. [Dr Reddys Laboratories Ltd](https://www.sectoralpha.in/stocks/dr-reddys-laboratories-ltd) DRREDDY · turning · Evidence leans down · 100% evidence 39.4 out of 100 Growth Capital Valuation Relative
35. [Natco Pharma Ltd](https://www.sectoralpha.in/stocks/natco-pharma-ltd) NATCOPHARM · quiet · Evidence leans down · 96% evidence 38.8 out of 100 Growth Capital Valuation Relative
36. [Bafna Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/bafna-pharmaceuticals-ltd) BAFNAPH · breaking out · Evidence leans down · 74% evidence 35.8 out of 100 Growth Capital Valuation Relative
37. [Cipla Ltd](https://www.sectoralpha.in/stocks/cipla-ltd) CIPLA · turning · Evidence leans down · 100% evidence 35.4 out of 100 Growth Capital Valuation Relative
38. [Torrent Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/torrent-pharmaceuticals-ltd) TORNTPHARM · losing its lead · Most evidence points down · 100% evidence 34.6 out of 100 Growth Capital Valuation Relative
39. [Biocon Ltd](https://www.sectoralpha.in/stocks/biocon-ltd) BIOCON · quiet · Most evidence points down · 96% evidence 34.4 out of 100 Growth Capital Valuation Relative
40. [Suven Life Sciences Ltd](https://www.sectoralpha.in/stocks/suven-life-sciences-ltd) SUVEN · quiet · Most evidence points down · 64% evidence 33.1 out of 100 Growth Capital Valuation Relative
41. [Influx Healthtech Ltd](https://www.sectoralpha.in/stocks/influx-healthtech-ltd) INFLUX · quiet · Too little evidence to rank firmly · 42% evidence 49.7 out of 100 Growth Capital Valuation Relative
42. [Syncom Healthcare Ltd](https://www.sectoralpha.in/stocks/syncom-healthcare-ltd) SYNCOM · Too little evidence to rank firmly · 17% evidence 42.3 out of 100 Growth Capital Valuation Relative
43. [Indoco Remedies Ltd](https://www.sectoralpha.in/stocks/indoco-remedies-ltd) INDOCO · losing its lead · Too little evidence to rank firmly · 49% evidence 38.4 out of 100 Growth Capital Valuation Relative
44. [Sai Parenterals Ltd](https://www.sectoralpha.in/stocks/sai-parenterals-ltd) SAIPARENT · turning · Too little evidence to rank firmly · 31% evidence 36.7 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. 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 path the industry 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 growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Pharma - Formulators](https://www.sectoralpha.in/sectors/pharma-formulators), all 44 compared on one page. ## Which companies are close to Lincoln Pharmaceuticals in size? Lincoln Pharmaceuticals is the 40th largest of 44 Pharma - Formulators companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Bharat Parenterals, Bafna Pharmaceuticals and Bajaj Healthcare. Just below it: Zim Laboratories, Kilitch Drugs (India) and Influx Healthtech. ### Pharma - Formulators companies close in size

1. [Bharat Parenterals Ltd](https://www.sectoralpha.in/stocks/bharat-parenterals-ltd) ₹1,399 crore
2. [Bafna Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/bafna-pharmaceuticals-ltd) ₹1,060 crore
3. [Bajaj Healthcare Ltd](https://www.sectoralpha.in/stocks/bajaj-healthcare-ltd) ₹1,031 crore
4. Lincoln Pharmaceuticals Ltd ₹1,000 crore
5. [Zim Laboratories Ltd](https://www.sectoralpha.in/stocks/zim-laboratories-ltd) ₹731 crore
6. [Kilitch Drugs (India) Ltd](https://www.sectoralpha.in/stocks/kilitch-drugs-indialtd) ₹704 crore
7. [Influx Healthtech Ltd](https://www.sectoralpha.in/stocks/influx-healthtech-ltd) ₹612 crore

[All 44 Pharma - Formulators companies, largest first](https://www.sectoralpha.in/sectors/pharma-formulators#all-companies)

### Companies close in size in other industries

1. [Consolidated Finvest & Holdings Ltd](https://www.sectoralpha.in/stocks/consolidated-finvest-holdings-ltd) ₹1,004 crore · Finance & Investments - Others
2. [Integrated Industries Ltd](https://www.sectoralpha.in/stocks/integrated-industries-ltd) ₹1,003 crore · Diversified
3. Lincoln Pharmaceuticals Ltd ₹1,000 crore
4. [Deep Energy Resources Ltd(Merged)](https://www.sectoralpha.in/stocks/deep-energy-resources-ltd-merged) ₹999 crore · Oil Drilling & Exploration
5. [Sai Silks (Kalamandir) Ltd](https://www.sectoralpha.in/stocks/sai-silks-kalamandirltd) ₹996 crore · Textiles - Readymade Apparel

## What else do people ask about Lincoln Pharmaceuticals? ### What is Lincoln Pharmaceuticals's share price today? Lincoln Pharmaceuticals Ltd's share price is ₹504.35, −4.8% over the past year. The whole company is worth ₹1,011 Cr on the market. In the last 52 weeks it traded between ₹453 to ₹734; today it is 18% of the way up from the low, 14.2% below its 200-day average (as of 3 November 2026). ### What were Lincoln Pharmaceuticals's latest quarterly results? Lincoln Pharmaceuticals Ltd reported revenue of ₹191 Cr and net profit of ₹20.0 Cr for the Sep 2026 quarter. Revenue rose 17.2% and profit rose 0.0% compared with a year earlier. Earnings per share were ₹10.20. The operating margin was 12.0%, 4.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is Lincoln Pharmaceuticals's market cap? Lincoln Pharmaceuticals Ltd's market capitalisation is ₹1,011 Cr at a share price of ₹504.35. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Lincoln Pharmaceuticals performing? Lincoln Pharmaceuticals Ltd's share price has been falling for 1 weeks. In its latest quarter, revenue rose 17.2% and profit rose 0.0% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 5 weeks running (as of 3 November 2026). ### Will Lincoln Pharmaceuticals's share price go up? This page does not forecast Lincoln Pharmaceuticals Ltd's share price. What it shows instead: the share price is ₹504.35, and it has been falling for 1 weeks. Its P/E of 10.4× is higher than 39% of its own last 11 years (as of 3 November 2026). ### Who owns Lincoln Pharmaceuticals? Promoters own 49.8% of Lincoln Pharmaceuticals Ltd, foreign institutions 4.5%, domestic institutions 0.0% and the public 45.6% (latest quarter). No group of owners changed its stake by a full point over the last two years (as of 3 November 2026). ### Does Lincoln Pharmaceuticals have too much debt? No, Lincoln Pharmaceuticals Ltd has little debt: its debt is 0.01× its equity, and its operating profit is 98 times its interest bill. FY26 borrowings were ₹4.0 Cr against equity of ₹758 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is Lincoln Pharmaceuticals in its business cycle? Lincoln Pharmaceuticals Ltd's FY26 operating margin was 15.0%, against a 13-year range of 10.0% to 21.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 12.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Lincoln Pharmaceuticals story? Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Lincoln Pharmaceuticals a stock worth studying right now? What the numbers show: Lincoln Pharmaceuticals Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: the next one or two quarters of results. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Lincoln Pharmaceuticals share price forecast for 2026? 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. What would change the story: 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. ### Where does this page get Lincoln Pharmaceuticals' management information? From Lincoln Pharmaceuticals' results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Pharma stocks: https://www.sectoralpha.in/sectors/pharma-stocks-india

This is research, not advice. We’re not SEBI-registered.