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Lincoln Pharmaceuticals Ltd (LINCOLN)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531633 NSE: LINCOLN Pharmaceuticals & Drugs | Small Cap | Lincoln Pharma Share Price

₹590.40 -5.20 (-0.87%)

As on 25-Sep'26 16:59

Lincoln Pharmaceuticals Ltd (LINCOLN)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531633 NSE: LINCOLN Pharmaceuticals & Drugs | Small Cap | Lincoln Pharma Share Price

₹590.40 -5.20 (-0.87%)

As on 25-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,183 Cr.
Current Price
₹590.4
52-Week Low / High
₹440 / 770
TTM EPS
₹48.2
TTM Sales
₹694 Cr.
Book Value per Share
₹396.3
P/E Ratio
12.26
In line with its 5-year historical median
Industry PE
54.9
Price to Book (P/B)
1.49
Lower than its 5-year historical median
Price to Sales (P/S)
1.70
In line with its 5-year historical median
EV/EBITDA
8.03
In line with its 5-year historical median
Dividend Yield
0.3%
Profitability Efficiency
Return on Equity (ROE)
13.02%
Outperforms industry median
Return on Capital Employed (ROCE)
17.55%
Outperforms industry median
Return on Assets (ROA)
10.64%
Operating Profit Margin
16.3%
Net Profit Margin
13.21%
Gross Profit Margin
18.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
7.35%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
1.58%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-11.74%
Asset Quality
Promoter Holding
49.78%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹774 Cr.
Equity
₹20 Cr.
Face Value
₹10
All Time Low / High
₹8.05 / 975.00

Lincoln Pharmaceuticals stock performance

Key Ratios
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Check Before You Invest

Valuation

Fair

Price Trend

Semi Strong
Q.1 Is Lincoln Pharmaceuticals Ltd a good quality company?
Lincoln Pharmaceuticals Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Lincoln Pharmaceuticals Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Lincoln Pharmaceuticals Ltd vs industry peers?
Lincoln Pharmaceuticals Ltd revenue CAGR is 10.03%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Lincoln Pharmaceuticals Ltd?
Promoters hold 49.78% of the Lincoln Pharmaceuticals Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Lincoln Pharmaceuticals Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 9.1% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Lincoln Pharmaceuticals Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ19.8%18.6%18.3%21.7%21.8%25.2%24.3%21.8%22.5%17.6%-
Value Creation
Index ⓘ
0.40.30.30.60.60.80.70.60.60.3-

Growth Parameters ⓘ

Sales ⓘ311304325353376423472510581623694
Sales YoY Gr.--2.1%6.8%8.6%6.5%12.5%11.6%8.1%13.8%7.4%-
Adj EPS ⓘ12.213.615.121.821.630.733.932.344.537.448.2
YoY Gr.-11.8%10.8%44.5%-0.9%42.1%10.5%-4.7%37.6%-15.9%-
BVPS (₹) ⓘ80.494.8109.8131.3152.3182.9216.1250.9296335.3396.3
Adj Net
Profit ⓘ
19.927.230.243.643.261.56864.889.17596
Cash Flow from Ops. ⓘ28.917.821.351.170.769.476.239.263.293-
Debt/CF from Ops. ⓘ2.132.60.70.1000.100-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ8%10.6%9.7%7.4%
Adj EPS ⓘ13.3%11.6%3.4%-15.9%
BVPSⓘ17.2%17.1%15.8%13.3%
Share Price 9.3% 8.9% 5.3% 9.8%

Key Financial Parameters ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ
15.916.614.818.115.218.31713.916.311.913.2
Op. Profit
Mgn % ⓘ
10.61414.217.115.920.620.317.517.316.314.6
Net Profit
Mgn % ⓘ
6.499.312.411.514.614.412.715.41213.9
Debt to
Equity ⓘ
0.50.30.30.1000000-
Working Cap
Days ⓘ
168198221223227227226231224232110
Cash Conv.
Cycle ⓘ
9393949080636479857681

Valuation of Lincoln Pharma - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales400360361366386424472510581623
Operating Expenses ⓘ + 360314308299321337377421481522
Manufacturing Costs4135596872697896114133
Material Costs255203156136138156170179204203
Employee Cost 2938515259638093103112
Other Costs ⓘ 35384243524950536073
Operating Profit ⓘ 4147526766879589100101
Operating Profit Margin (%) 10.1%13.0%14.5%18.4%17.0%20.6%20.2%17.5%17.2%16.3%
Other Income ⓘ + 735611610223422
Exceptional Items ⓘ 0000000000
Interest ⓘ 10754221212
Depreciation ⓘ 566778891113
Profit Before Tax ⓘ 33374662678496100122109
Tax ⓘ 991213162127282927
Profit After Tax 24283549516269739382
PAT Margin (%) 6.0%7.8%9.6%13.3%13.3%14.7%14.7%14.3%16.1%13.2%
Adjusted EPS (₹)14.514.117.324.425.731.134.636.446.641.1
Dividend Payout Ratio (%)6.90%8.50%8.70%6.20%5.80%4.80%4.30%4.10%3.90%4.40%
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 133192224269313366433502593672
Share Capital ⓘ 16.312020202020.0320.0320.0320.0320.03
Reserves ⓘ 117172204249293346413482573652
Debt +76575532502210
Long Term Debt241272100000
Short Term Debt53454930402210
Minority Interest0000000000
Trade Payables30324344515772517285
Others Liabilities ⓘ 35414053676448815965
Total Liabilities ⓘ 275324363399437487555637725822

Fixed Assets

Net Fixed Assets ⓘ +98103117121123111132151179182
Gross Block121108128138147142171197237252
Accumulated Depreciation2251117243139475770
CWIP ⓘ 37020216734
Investments ⓘ 010111834819791139174
Inventories27374536474773707779
Trade Receivables8191109122101113116136162166
Cash Equivalents 1312158151419341422
Others Assets ⓘ 53656691116120102147151194
Total Assets ⓘ 275324363399437487555637725822
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + 45252753756976396393
PBT ⓘ 33374662678496100122109
Adjustment ⓘ 1411129951-0-171
Changes in Working Capital ⓘ 5-13-22-11402-31-169
Tax Paid ⓘ -7-10-9-18-15-19-24-30-26-26
Cash Flow From Investing Activity ⓘ + -42-25-12-18-31-64-78-37-57-79
Capex -34-18-10-15-7-9-45-14-40-19
Net Investments -1-100-6-14-44-23-4-3-30
Others ⓘ -72-23-9-11-9-19-15-30
Cash Flow From Financing Activity ⓘ + -30-11-36-38-6-3-5-5-6
Net Proceeds from Shares ⓘ 0000000000
Net Proceeds from Borrowing ⓘ 2-6-7-9-2-1-1000
Interest Paid ⓘ -11-7-5-4-2-1-1-1-1-2
Dividend Paid ⓘ -2-2-3-4-70-3-3-3-4
Others ⓘ 8154-18-26-42-0-1-1
Net Cash Flow ⓘ -0-03-17-1-5-218
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)19.4917.2916.6319.7517.6718.3217.3515.5917.0413.02
ROCE (%)21.1818.5119.0522.522.324.924.2921.8222.5317.55
Asset Turnover Ratio1.511.221.050.990.960.950.950.90.890.84
PAT to CFO Conversion(x)1.880.890.771.081.471.111.10.530.681.13
Working Capital Days
Receivable Days89.7085.50101112.20102.2089.3084.3086.1089.6091.80
Inventory Days22.2032.4041.7039.5038.2039.1043.9048.7044.3043.60
Payable Days54.2056.5088.50117.60125.80126.80138.40124.60110.30141.70

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Announcements

Lincoln Pharmaceuticals Ltd FAQs

The current trading price of Lincoln Pharma on 25-Sep-2026 16:59 is ₹590.4.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 24-Sep-2026 the market cap of Lincoln Pharma stood at ₹1,182.6 Cr

The latest P/E ratio of Lincoln Pharma as of 24-Sep-2026 is 12.26.

The latest P/B ratio of Lincoln Pharma as of 24-Sep-2026 is 1.49.

The 52-week high of Lincoln Pharma is ₹770.0 and the 52-week low is ₹439.9.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Lincoln Pharma is ₹694 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Lincoln Pharmaceuticals Ltd is a good quality company.

The key valuation ratios of Lincoln Pharmaceuticals Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Lincoln Pharmaceuticals Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Lincoln Pharmaceuticals Ltd

Lincoln Pharmaceuticals was established in 1979 to manufacture and market affordable therapeutic products. Since then, Lincoln Pharmaceuticals has come a long way.

Lincoln Pharmaceuticals is a public limited company with a large shareholder base including members of the medical fraternity. It has its own manufacturing facilities, covering all the major dosage forms, like tablets, capsules, injectables, syrups, Ointments, etc. Its present manufacturing activities are located near Ahmedabad. The plant spreads across 30,000 square meters. There are three different buildings for tablets, capsules and injectables and also a separate building for quality control.

An ultramodern laboratory with state-of-the-art equipments ensures in-house quality assurance of each of the products. The products are designed for all therapeutic segments with a special emphasis on gynecological and orthopedic specialties.

Group of Companies

  • Lincoln Parenterals
  • Karnavati Distributors
  • Down Town Travels
  • Shelavi Paper Mills

Product of the company

  • Tablets 
  • Capsules
  • Injectables
  • Syrups
  • Ointments

Certification

  • WHO-GMP standard
  • ISO 9002 certification 
  • Export House certification
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