LUPIN.NS Lupin Limited
INR·Price 2264.70·Mkt cap 1.04TComputed from the latest reported financials and the current market price.
Who's the real player?
A genuine play on this theme — most of its business sits right here.
Is the business healthy?
Healthy business: it turns profit into real cash and earns solid returns on capital.
- High cash flow quality
- Excellent capital efficiency
- Strong FCF conversion
- Conservative accounting
Are the smart people buying?
No ownership-change data for this stock. Conviction is judged from capex and buyback signals alone.
- Stable promoter/insider stake
- High institutional ownership
- Strong capex growth
- Active buybacks
What is management saying?
No earnings-call transcript or filings found for this stock.
Is the price right?
Intrinsic value 2061.26 vs price 2264.70 — screens fair on a cash-flow DCF (-9.0% to intrinsic). The base FCF growth assumption of 15% is high and may not be sustainable long-term.
| Intrinsic / share | 2061.26 |
| Price | 2264.70 |
| Upside to intrinsic | -9.0% |
| Reverse-DCF implied g | 16.3% |
Base FCF 31.06B · growth 15.0% · discount 12.0% · terminal 5.0%.
Sensitivity — intrinsic value / share
Each cell is the intrinsic value at that growth (across →) and discount rate (down ↓). Center ★ is the base case. Cells green = above price (cheap), red = below (expensive).
| Growth rate → | |||||
|---|---|---|---|---|---|
| Disc ↓ ╲ g | 11% | 13% | 15% | 17% | 19% |
| 10% | 2221.99 | 2603.05 | 3045.55 | 3558.41 | 4151.69 |
| 11% | 1814.26 | 2117.73 | 2469.43 | 2876.33 | 3346.25 |
| 12% | 1524.59 | 1773.43 | ★ 2061.26 | 2393.66 | 2776.91 |
| 13% | 1308.59 | 1517.11 | 1757.82 | 2035.31 | 2354.71 |
| 14% | 1141.63 | 1319.31 | 1524.02 | 1759.59 | 2030.28 |
Through the masters' eyes
Each investor's numeric rules, checked against this stock's metrics: exact math, no guesswork. Tap one to see which rules pass, fail, and what to judge yourself.
▶
Passes 2 of 2 of Peter Lynch's numeric checks. Still judge the non-numeric criteria below for yourself.
- Manageable debt (D/E ≤ 1.0) — now 0.29
- Solid liquidity (current ratio ≥ 1.5) — now 1.9
- A simple business you understand
- Which 'type' it is (fast grower, stalwart, cyclical…)
- A believable growth story
Couldn't check from available data: PEG ≤ 1 (growth cheap vs price) — not available; Earnings growth ≥ 15% — not available
▶
Passes 3 of 3 of Rakesh Jhunjhunwala's numeric checks. Still judge the non-numeric criteria below for yourself.
- ROE ≥ 18% — now 23.8%
- Net margin ≥ 10% — now 19.4%
- Conservative leverage (D/E ≤ 1.0) — now 0.29
- A large, scalable opportunity
- Trustworthy, ambitious management
- Conviction to hold through volatility
Couldn't check from available data: Earnings growth ≥ 15% — not available
▶
Passes 4 of 4 of Radhakishan Damani's numeric checks. Still judge the non-numeric criteria below for yourself.
- High returns on capital (ROCE ≥ 18%) — now 57.1%
- Very low debt (D/E ≤ 0.5) — now 0.29
- Consistent revenue (consistency ≥ 80%) — now 95.4%
- Positive net margin — now 19.4%
- A durable consumer franchise
- Pricing power
- A long runway, bought patiently
▶
Passes 2 of 2 of Raamdeo Agrawal's numeric checks. Still judge the non-numeric criteria below for yourself.
- Quality: ROCE ≥ 18% — now 57.1%
- Longevity: revenue consistency ≥ 70% — now 95.4%
- Durability of the growth (longevity)
- Quality and honesty of management
Couldn't check from available data: Growth: earnings CAGR ≥ 15% — not available; Price: PEG ≤ 2 — not available
▶
Passes 2 of 2 of Vijay Kedia's numeric checks. Still judge the non-numeric criteria below for yourself.
- ROE ≥ 15% — now 23.8%
- Manageable debt (D/E ≤ 1.0) — now 0.29
- Ambitious, capable management
- A small company with a large opportunity
- Patience to hold for years
Couldn't check from available data: Strong earnings growth ≥ 20% — not available
▶
Passes 4 of 5 of Warren Buffett's numeric checks. Still judge the non-numeric criteria below for yourself.
- ROE ≥ 15% — now 23.8%
- Net margin ≥ 10% — now 19.4%
- Positive free cash flow — now 19.2%
- Conservative leverage (D/E ≤ 1.0) — now 0.29
- Trades below intrinsic value (margin of safety ≥ 0) — now -9.9%
- A business you can understand
- A durable competitive moat
- Honest, capable management
▶
Passes 3 of 4 of Charlie Munger's numeric checks. Still judge the non-numeric criteria below for yourself.
- High returns on capital (ROCE ≥ 15%) — now 57.1%
- ROE ≥ 15% — now 23.8%
- Conservative leverage (D/E ≤ 1.0) — now 0.29
- Trades below intrinsic value (margin of safety ≥ 0) — now -9.9%
- A high-quality, understandable business
- A durable moat
- Management of integrity
▶
Passes 3 of 6 of Benjamin Graham's numeric checks. Still judge the non-numeric criteria below for yourself.
- Strong liquidity (current ratio ≥ 1.5) — now 1.9
- Debt below equity (D/E ≤ 1.0) — now 0.29
- Financially safe (Altman Z ≥ 3) — now 6.38
- P/E ≤ 15 — now 19.45
- P/B ≤ 1.5 — now 4.62
- Graham number: P/E × P/B ≤ 22.5 — now 89.9
- A long record of stable earnings
- An uninterrupted dividend history
Financial statements (INR)
↗ sourceCash-flow lines highlighted — we trust cash over reported profit.
| Line | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | 274.88B | 221.92B | 196.56B | 162.70B | — |
| Operating income | 146.82B | 41.08B | 27.97B | 8.89B | — |
| EBITDA | 86.83B | 54.79B | 38.98B | 18.37B | — |
| Net income | 53.33B | 32.82B | 19.14B | 4.30B | — |
| Operating cash flow | 73.34B | 30.00B | 36.48B | 18.97B | — |
| Capex | -20.55B | -16.82B | -9.29B | -15.00B | — |
| Free cash flow | 52.80B | 13.18B | 27.19B | 3.98B | — |
| Total assets | 383.65B | 292.05B | 239.97B | 229.56B | — |
| Total equity | 224.48B | 172.03B | 142.90B | 124.64B | — |
| Total debt | 66.16B | 54.48B | 29.22B | 45.42B | — |
| Cash & equivalents | 41.68B | 19.31B | 11.88B | 12.78B | — |