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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

₹619.90 29.80 (5.05%)

As on 04-Jun'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

₹619.90 29.80 (5.05%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,242 Cr.
Current Price
₹619.9
52-Week Low / High
₹440 / 770
TTM EPS
₹43.9
TTM Sales
₹671 Cr.
Book Value per Share
₹378.3
P/E Ratio
14.13
Higher than its 5-year historical median
Industry PE
46.5
Price to Book (P/B)
1.64
In line with its 5-year historical median
Price to Sales (P/S)
1.85
Higher than its 5-year historical median
EV/EBITDA
9.26
Higher than its 5-year historical median
Dividend Yield
0.33%
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)
10.65%
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
₹738 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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Quality

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Valuation

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Price Trend

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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 10.63%, compared to the industry median CAGR of 5.35%, 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 17.8% based on the current price.

10 Year X-Ray : Login to view analysis.

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 311304325353376423472510581623671
Sales YoY Gr.--2.1%6.8%8.6%6.5%12.5%11.6%8.1%13.8%7.4%-
Adj EPS 12.213.615.121.821.630.733.932.344.537.443.9
YoY Gr.-11.8%10.8%44.5%-0.9%42.1%10.5%-4.7%37.6%-15.9%-
BVPS (₹) 80.494.8109.8131.3152.3182.9216.1250.9296335.3378.3
Adj Net
Profit
19.927.230.243.643.261.56864.889.17588
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%
BVPS17.2%17.1%15.8%13.3%
Share Price 15.6% 16.5% 17.9% 8.4%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
15.916.614.818.115.218.31713.916.311.912.3
Op. Profit
Mgn %
10.61414.217.115.920.620.317.517.316.314.6
Net Profit
Mgn %
6.499.312.411.514.614.412.715.41213.1
Debt to
Equity
0.50.30.30.10000000
Working Cap
Days
168198221223227227226231224232110
Cash Conv.
Cycle
9393949080636479857681

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales311304325353376423472510581623
Operating Expenses + 278262279293317336377421481522
Manufacturing Costs2932394548697896114133
Material Costs189158152157163155170179204203
Employee Cost 2735484855638093103112
Other Costs 34374142504950536073
Operating Profit 3342466059879589100101
Operating Profit Margin (%) 10.5%13.9%14.1%17.1%15.8%20.6%20.2%17.5%17.2%16.3%
Other Income + 636712610223422
Exceptional Items 0000000000
Interest 6544221212
Depreciation 344558891113
Profit Before Tax 30364358648496100122109
Tax 881012142127282927
Profit After Tax 22273347506269739382
PAT Margin (%) 7.0%9.0%10.1%13.2%13.2%14.7%14.7%14.3%16.1%13.2%
Adjusted EPS (₹)13.313.716.423.324.831.134.636.446.641.1
Dividend Payout Ratio (%)7.50%8.80%9.20%6.40%6.10%4.80%4.30%4.10%3.90%4.40%

Valuation of Lincoln Pharma - Standalone

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!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 131190220263304366433502593672
Share Capital 16202020202020202020
Reserves 115170200243284346413482573652
Debt +59515532402210
Long Term Debt9762100000
Short Term Debt50444930402210
Minority Interest0000000000
Trade Payables21253536425771517285
Others Liabilities 31333247617879815965
Total Liabilities 242299341378412501585636725822

Fixed Assets

Net Fixed Assets +6368838891111132151179182
Gross Block807291101108142171197237252
Accumulated Depreciation174812173139475770
CWIP 37020216734
Investments 2036394660819791139174
Inventories25323629384773707779
Trade Receivables75799611391112115135161166
Cash Equivalents 5587111318341322
Others Assets 51727891121136134148152195
Total Assets 242299341378412501585636725822

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 29182151716976396393
PBT 30364358648496100122109
Adjustment 8887551-0-171
Changes in Working Capital -3-17-2131502-31-169
Tax Paid -6-9-9-17-14-19-24-30-26-26
Cash Flow From Investing Activity + -40-26-14-22-29-64-78-37-57-79
Capex -33-17-9-11-6-9-45-14-40-19
Net Investments 0-101-6-15-44-23-4-3-30
Others -71-5-5-8-11-9-19-15-30
Cash Flow From Financing Activity + 118-4-30-38-6-3-5-5-6
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 8-2-1-4-3-1-1000
Interest Paid -6-5-4-4-2-1-1-1-1-2
Dividend Paid -2-2-3-4-70-3-3-3-4
Others 10174-18-26-42-0-1-1
Net Cash Flow -0-04-14-1-4-218

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)17.9417.0916.0119.3517.4818.5617.3515.5917.0413.02
ROCE (%)19.8318.6318.2821.6821.8125.2124.2921.8222.5317.55
Asset Turnover Ratio1.451.141.021.010.990.960.910.880.890.84
PAT to CFO Conversion(x)1.320.670.641.091.421.111.10.530.681.13
Working Capital Days
Receivable Days90.9091.5098.30104.8095.7084.8083.5085.5089.1091.30
Inventory Days25.4033.5038.3033.1031.4035.1043.9048.7044.3043.60
Payable Days32.7052.607282.5087116137.60124.20110141.50

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 (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Lincoln Pharmaceuticals Ltd FAQs

The current trading price of Lincoln Pharma on 04-Jun-2026 16:59 is ₹619.9.

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 03-Jun-2026 the market cap of Lincoln Pharma stood at ₹1,241.6 Cr

The latest P/E ratio of Lincoln Pharma as of 03-Jun-2026 is 14.13.

The latest P/B ratio of Lincoln Pharma as of 03-Jun-2026 is 1.64.

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 ₹671 ( 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 Somewhat overvalued 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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