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Swing Capital

Lincoln Pharmaceuticals Ltd

NSE: LINCOLN BSE: 531633Pharma

Incorporated in 1979, Lincoln Pharmaceuticals Ltd is in the business of manufacturing and trading of pharmaceutical products [1]

₹667
52W: ₹440 — ₹733
PE 15.2 · Book ₹357 · +87% vs book
Market Cap₹1,336 Cr
Stock P/E15.2Price to Earnings
ROCE17.3%Return on Capital
ROE12.8%Return on Equity
Div. Yield0.27%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.

Weaknesses

  • −The company has delivered a poor sales growth of 10.6% over past five years.
  • −Dividend payout has been low at 4.12% of profits over last 3 years

Shareholding Pattern

Promoters49.78%
FIIs5.2%
DIIs1.08%
Public43.94%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters49.78%49.78%49.78%49.78%49.78%49.78%49.78%49.78%
FIIs3.95%5.19%▲1.25.16%▼0.05%▼0.25.13%▲0.14.73%▼0.44.7%▼0.05.2%▲0.5
DIIs0.04%0%▼0.00%0%0.01%▲0.00.01%0.01%1.08%▲1.1
Public46.24%45.04%▼1.245.07%▲0.045.23%▲0.245.08%▼0.145.49%▲0.445.51%▲0.043.94%▼1.6

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales156146142147161147168154163166
Expenses125117124125133123141130138143
Operating Profit31301823282427242524
OPM %20%20%13%15%18%16%16%15%16%14%
Net Profit28281924262112282029
EPS ₹13.8149.2911.8213.1510.375.7813.829.9814.28

AI Insights

Revenue Trend

TTM revenue at ₹652Cr, up 4.7% YoY. OPM at 15%.

Debt Position

Borrowings at ₹0Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Capex Cycle

CWIP at ₹3Cr (2% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 1.08% (+1.08pp change). FIIs: 5.2% (+3.46pp change). Promoters hold 49.78%.

Margin & Efficiency

ROCE improving from 12% (Mar 2014) to 17% (Mar 2025). Working capital days: 116.

Valuation

PE 15.2x with 17.3% ROCE. Price is 87% above book value of ₹357. Dividend yield: 0.27%.

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