Lupin Limited · NSE:LUPIN
Lupin — Q2 FY27 Earnings Presentation
21 slides from Lupin's earnings presentation, Nov 4, 2026
Slide 1: Exchange filing cover letter for Investor Presentation Q2 FY27
November 04, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, P. J. Towers, Dalal Street, Bandra Kurla Complex, Mumbai Samachar Marg, Bandra (East), Mumbai - 400 001 Mumbai - 400 051 Symbol: LUPIN Scrip Code: Equity - 500257 Subject: Investor Presentation - Q2 FY27 Results D
Slide 2: Investor Presentation Q2 FY27
Investor Presentation Q2 FY27 November 04, 2026
Slide 3: Safe Harbor Statement
Safe Harbor Statement Materials and information provided during this presentation may contain forward looking statements. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties which could cause actual outcomes and results to differ
Slide 4: Q2 FY27 Performance
Q2 FY27 Performance
Slide 5: Q2 FY27 - Key Growth Metrics
Q2 FY27 - Key Growth Metrics Steady Operating Performance Key Metrics Business Performance Values in INR unless indicated otherwise 77,855 mn Sales India APAC 43% YoY 14% YoY 23,836 mn | 15% YoY 4,273 mn | LATAM 2,427 mn | 30% YoY 19,574 mn EBITDA1 25.1% North America 8 % YoY Margin 31,696 mn | 10%
Slide 6: Q2 FY27 - Key Developments
Q2 FY27 - Key Developments Steady Revenue Growth with Healthy EBITDA Margins Financials Key Launches / Approvals Sales* and EBITDA margin Trajectory Tentative Apixaban Oral Sugammadex Launched Approval Suspension 505(b)(2) Injection in the US 82,172 from U.S. FDA 77,855 73,919 80,000 37.0% 68,314 71
Slide 7: Q2 FY27: Financial Snapshot
Q2 FY27: Financial Snapshot Sales Mix Key Financials INR mn Revenue (In INR mn and %) Q2 FY27 Q2 FY26 Q1 FY27 India, 23,836 31% United States, 30,2021 39% Sales 77,855 68,314 82,172 API, 3,086 4% EBITDA3 19,574 21,376 24,635 Emerging Markets2, 8,908 Other Developed 11% Markets3, Net Income4 11,553 1
Slide 8: India: Focus on outperforming market growth
India: Focus on outperforming market growth Brief Overview India businessBrief grew 14.7% Overview 1 YoY Leveraging Chronic Leadership India Sales (INR mn) #2 #3 #3 Rank Rank Rank 23,796 23,836 Respiratory2 Cardiac2 Diabetes Care2 20,777 20,387 19,082 • Chronic growth 19.5% in H1 (vs IPM growth of 1
Slide 9: India: Focus on outperforming market growth
India: Focus on outperforming market growth IRF poised to outperform IPM by 1.2-1.3x with key drivers in place Enabling end to end healthcare ecosystem & access for the patient Enhancing penetration and reach • CHC Portfolio catering to GI, VMS, Cough/cold • Maximizing Chronic focus with ~70% share
Slide 10: US: Continued Evolution towards Complex Platforms
US: Continued Evolution towards Complex Platforms Leadership: Brief Overview ~5.0% Gx TRx volume Continued investments in complex Gx & Brief Overview Sales trajectory3 505(b)(2)s share in U.S1 Sales in US$ Mn 1% YoY (13%) QoQ • Plans to file 15+ ANDAs in FY27 #3 #1 in the US1 in 61 products2 • 48 FT
Slide 11: Innovation and Quality
Innovation and Quality R&D pivoting towards complex generics and biosimilars Achieve Best-in-Class Quality Substantial Capabilities to become CGx powerhouse Recent Track Record • Inhalation: Global presence with end-to-end capabilities of MDIs, Successful outcomes in last 12 months DPIs, Soft-Mist I
Slide 12: Key Financial Metrics: Quarterly Trend
Key Financial Metrics: Quarterly Trend R&D1 (INR mn) Capex1 (INR mn) Net Debt to Equity 4,500 15.0% 6,500 6,077 6,181 15.0% 4,000 13.0% 5,500 5,222 5,352 5,081 13.0% 3,474 3,500 3,052 11.0% 0.35 4,500 11.0% 3,000 2,786 9.0% 9.0% 2,500 2,230 3,500 2,007 7.0% 7.0% 2,000 7.6% 7.5% 7.4% 7.9% 2,500 6.9%
Slide 13: P&L Highlights Q2 FY27
P&L Highlights Q2 FY27 Particulars Q2’FY27 % of Sales Q2’FY26 % of Sales YoY Growth Q1’FY27 % of Sales QoQ Growth Net Sales 77,855 100.0% 68,314 100.0% 14.0% 82,172 100.0% -5.3% Other operating 418 0.5% 2,161 3.2% -80.7% 597 0.7% -30.0% income Total revenue 78,273 100.5% 70,475 103.2% 11.1% 82,769 1
Slide 14: P&L Highlights H1 FY27
P&L Highlights H1 FY27 Particulars H1’FY27 % of Sales H1’FY26 % of Sales YoY Growth Net Sales 160,028 100.0% 129,952 100.0% 23.1% Other operating income 1,014 0.6% 3,207 2.5% -68.4% Total revenue 161,042 100.6% 133,159 102.5% 20.9% Gross Profit (excl. other operating 119,054 74.4% 93,985 72.3% 26.7%
Slide 15: Lupin at a Glance
LUPIN Lupin at a Glance
Slide 16: Lupin Today
Lupin Today Global Presence Local Leadership Geographically Diverse Growing Sustainability India United States 14th $3.2 Bn 3rd Largest In the US (by prescriptions2) 81,140 30% 116,783 42% 91/100 8th India Pharma Market Rank (by sales3) Largest Generic Annual sales Company in FY266 5th Largest Austr
Slide 17: Catalyzing Treatments that transform hope into healing
Catalyzing Treatments that transform hope into healing United States Other Developed India Other Emerging API Markets Markets Driving operating leverage Delivering above-market Global reach and scale Substantial scale Evolving portfolio and in Portfolio, Capex and growth. positions us as a partner a
Slide 18: Lupin's Sustainability Update
Lupin’s Sustainability Update Paving a sustainable future for Planet, People and Patients Sustainability Goal Status FY 2026 Key Highlights for Q2 FY27 Climate Change1 42% GHG Reduction by 2030 ~41% GHG Reduction Water 50% Recycling by 2030 ~45% Recycling Biodiversity 66% Sites Completed Advancing D
Slide 19: Lupin ESG Framework and ESG Ratings
Lupin ESG Framework and ESG Ratings Our Purpose We catalyze treatments that transform hope into Planet People Patients healing Catalyzing Planet Action Transforming Our People Healing Patients Climate Change Diversity and Inclusion Product Launches and Quality Our ESG Framework Water Employee Volunt
Slide 20: Lupin – Awards and Accolades
Lupin – Awards and Accolades ESG & Sustainability Leadership Operational & Organizational Excellence Patient-Centric Healthcare Excellence ❖ Lupin Secured Global No. 1 Ranking in the Pharma Sector in ❖ Lupin has been honored with the prestigious Excellence in S&P Global ESG Ratings and Secured No. 1
Slide 21: Thank You
THANK YOU! Lupin.com MadeInIndia.com lupin.com REGISTERED OFFICE lupin.com x.com/LupinGlobal 3rd Floor, Kalpataru Inspire, Off Western Express x.com/LupinGlobal Highway, Santacruz (East), Mumbai - 400 055. India. linkedin.com/company/lupin/ linkedin.com/company/lupin/ Tel: + 91 22 6640 2323 facebook