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Lupin Limited (500257) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Lupin Limited ₹2,232, price ₹2,029, upside +10.0%, quality 70 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Thin data
Oct 3, 2026
Lupin Limited
500257 · BSENeutralQuality growthThe stock looks roughly fairly valued with average quality.
·Fair value ₹2,232 · Fairly valued (+10.0%)
✓Quality 70/100
✓Healthy Growth (revenue 5y +12.6 %/yr)
✓Solidly profitable · 19.4% net margin (FY2025)
✓Low debt · generates free cash flow
·0.6% dividend yield · Safety not assessed
!Evidence only low, so the estimate is less certain
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What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range ₹577.99 – ₹2,476 · fair‑value band ₹1,410 – ₹2,901 · the ₹2,029 price screens below the ₹2,232 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
Company profile
Lupin Limited, a pharmaceutical company, develops, produces, and markets a range of branded and generic formulations, biotechnology products, and active pharmaceutical ingredients (APIs) worldwide.
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Lupin Limited, a pharmaceutical company, develops, produces, and markets a range of branded and generic formulations, biotechnology products, and active pharmaceutical ingredients (APIs) worldwide. It offers formulations for use in the therapeutic areas of cardiovascular, diabetology, asthama, pediatrics, central nervous system (CNS), gastro-intestinal, anti-infectives, nonsteroidal anti inflammatory drug therapy, anti-TB, and cephalosporins. The company also develops drug delivery technologies; and offers biosimilars for various therapies, such as oncology, anti-inflammatory, anti-virals, rheumatoid arthritis, endocrinology, diabetes, ophthalmology, and women?s health. In addition, it engages in the novel drug discovery and development programs for use in the treatment of CNS disorders, oncology, immunology, pain, and metabolic disorders. The company was formerly known as Lupin Chemicals Limited and changed its name to Lupin Limited in 2001 as a result of its amalgamation with Lupin Laboratories Limited. Lupin Limited was founded in 1968 and is based in Mumbai, India.
Stock analysis
Lupin Limited (500257) currently trades at ₹2,029, while our model-based Fair Value estimate is ₹2,232, implying the stock looks roughly 9.1% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹2,543 per share, and 17 of the 24 models we run sit above the ₹2,029 price.
Bear case: the Asset-Based group reads lowest at ₹322.51, and 7 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹1,410 (bear) to ₹2,901 (bull), the price of ₹2,029 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 70/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Lupin Limited reported revenue of ₹275B in FY2025 versus ₹164B in FY2021, a compound +13.8%/yr. Reported net income was ₹53.3B in FY2025.
Key figures
Market cap ₹928B (≈ $9.6B) · P/E ratio 28.3 · P/S ratio 5.49 · EPS (TTM) ₹94.43 · Dividend yield 0.6% · Net margin 19.4% · Return on equity 2,452% · Return on assets (EBIT) 12.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 18% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −19% fair-value upside, at 10%, 500257 screens cheaper than that median.
Fair Value models
Bear ₹1,410
Fair Value ₹2,232
Bull ₹2,901
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (₹71.40 per share) are deliberately not added.
Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.
Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF
₹1,498
₹2,543
₹4,253
78
Growth DCF
₹1,489
₹2,450
₹3,969
77
Owner Earnings
₹1,337
₹2,266
₹3,785
74
All 24 models by family
DCF Models
FCF DCF
₹1,498
₹2,543
₹4,253
78
Owner Earnings
₹1,337
₹2,266
₹3,785
74
5Y Revenue Exit
₹1,345
₹2,254
₹3,471
71
5Y EBITDA Exit
₹2,729
₹5,062
₹7,986
73
5Y P/E Exit
₹1,684
₹2,942
₹4,361
70
10Y Revenue Exit
₹1,345
₹2,209
₹3,494
65
10Y EBITDA Exit
₹2,276
₹4,201
₹7,130
66
10Y P/E Exit
₹1,603
₹2,697
₹4,211
63
Earnings-Based
Graham-Dodd
₹777.59
₹3,406
₹4,660
64
Lynch FV
₹878.91
₹1,256
₹1,632
61
PEG = 1.0
₹878.91
₹1,256
₹1,632
57
EPV
₹2,315
₹2,672
₹2,980
71
Multiples
P/E Multiple
₹1,887
₹2,516
₹3,145
63
P/S Multiple
₹1,458
₹1,944
₹2,430
58
P/B Multiple
₹1,458
₹1,944
₹2,430
55
EV/EBIT
₹4,068
₹5,406
₹6,744
66
EV/EBITDA
₹3,669
₹4,874
₹6,080
67
EV/Revenue
₹1,292
₹1,822
₹2,353
54
Asset-Based
NCAV (Graham)
₹240.68
₹322.51
₹481.36
54
Growth DCF
Growth DCF
₹1,489
₹2,450
₹3,969
77
Rev-Margin DCF
₹1,345
₹2,238
₹3,372
72
Economic Profit
Residual Income
₹680.40
₹924.66
₹1,708
72
ROIC Compounder
₹2,482
₹3,065
₹3,708
72
Growth Earnings
Growth-Adj P/E
₹1,492
₹2,131
₹2,771
67
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Set up alert →Quality Score breakdown
Overall quality
70/100
Of which business quality 72 · Market factors (momentum, volatility) 49
Profitability
78
Margins and returns on capital today
Quality Growth
77
Are margins and returns improving?
Cashflow
73
Earnings quality: real cash, not paper profit
Fin. Strength
82
Balance sheet, leverage, solvency risk
Investment
25
Disciplined investing over empire-building
Low Volatility
86
Calm price path (market factor)
Momentum
35
Price trend over the last 3–12 months (market factor)
52W Momentum
31
Distance to the 52-week high (market factor)
Net Issuance
80
Share count: buybacks or dilution?
Revenue & earnings trend
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.
92/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+21.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.6%
Start year 2020 (pandemic). Over 10 years: +6.8% a year
Revenue growth 10 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.8%
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’25
What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+65.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+64.4%
Dividend (yield on the price)0.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.34.2% vs 7.5%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.11% → 53%
2025 sits 178% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+13.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +9.3% a year for the price.
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Compare Lupin Limited with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Drug Manufacturers - Specialty & Generic · 569 stocks
Beats the industry median on 4/10 measures
A mixed picture versus its industry peers.
Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper
Context: sector, industry, market
- Is the Health Care sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Indian Stocks
- Valuation of the India market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
Similar stocks
10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Merck KGaA MRK | €134.45 | €108.94 | −19% |
| Takeda Pharmaceutical Company TAK | $18.90 | $11.45 | −39% |
| Teva Pharmaceutical Industries Limited TEVA | $39.31 | $20.88 | −47% |
| Sun Pharmaceutical Industries Limited SUNPHARMA | ₹1,852 | ₹1,979 | +7% |
| Galderma Group GALD | CHF 163.00 | CHF 110.32 | −32% |
| Jiangsu Hengrui Pharmaceuticals Co 600276 | ¥44.86 | ¥49.35 | +10% |
| Haleon plc HLN | $9.26 | $8.49 | −8% |
| Sandoz Group SDZ | CHF 71.16 | CHF 40.32 | −43% |
| Zoetis Inc ZTS | $70.30 | $110.50 | +57% |
| Divi's Laboratories Limited DIVISLAB | ₹9,620 | ₹1,871 | −81% |
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Frequently asked questions
Is Lupin Limited (500257) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of ₹2,232 versus a price of ₹2,029, about +10% upside (undervalued).
What is the fair value of 500257?
Our model-based fair value for Lupin Limited is ₹2,232 (as of Oct 3, 2026), built from audited fundamentals. The current price: ₹2,029.
What is the quality score of 500257?
Lupin Limited has a Quality Score of 70/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Lupin Limited (500257)?
Our model-based price target is the fair value of ₹2,232 (as of Oct 3, 2026) from 24 valuation models. Cautious scenario ₹1,410, optimistic scenario ₹2,901. It is a calculation from audited fundamentals, not an analyst target.
What is the Lupin Limited stock forecast for 2026?
Our models put fair value at ₹2,232, about +10% upside versus a price of ₹2,029 (undervalued). Cautious scenario ₹1,410, optimistic scenario ₹2,901. The calculation is refreshed regularly with new filings.
Does Lupin Limited pay a dividend?
Lupin Limited currently shows a dividend yield of about 0.62% relative to its recent price (as of Oct 3, 2026).
What growth is priced into Lupin Limited (500257)?
For today's price to be fair in a discounted-cash-flow model, Lupin Limited would have to grow free cash flow by +13.8 % per year for five years (discount rate 12.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +12.6 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of 500257 use?
Our models discount Lupin Limited at 12.4 %: a base by market capitalisation (mid), country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Lupin Limited that is +13.8 % per year a year over ten years, using the same discount rate (12.4 %) and the same formula as our fair value.
How much growth has Lupin Limited (500257) delivered so far?
Over the past 5 years revenue at Lupin Limited grew +12.6 % a year. The price currently implies +13.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Lupin Limited (500257) growing?
The median revenue growth in the sector is +7.6 % a year. That is the yardstick for the growth priced into Lupin Limited (+13.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Lupin Limited (500257)?
The free-cash-flow yield on the price is 5.69 %: that much free cash flow Lupin Limited produces per unit of market value. When it exceeds the discount rate of our models (12.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Lupin Limited (500257)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lupin Limited it is ₹2,232 per share (as of Oct 3, 2026), against a price of ₹2,029. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Lupin Limited stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 500257 trades below its calculated fair value: price ₹2,029, fair value ₹2,232, a gap of about +10% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 500257?
No. The price is what the market pays today (₹2,029); the fair value is what the company's own numbers justify (₹2,232). For Lupin Limited the two are ₹202.90 per share apart. That gap is exactly why we show both numbers side by side.
How much is Lupin Limited worth?
The market values Lupin Limited at about ₹928B (market capitalisation, as of Oct 3, 2026). Per share that is ₹2,029; our models calculate a fair value of ₹2,232 per share.
What do the bullish and bearish scenarios say about 500257?
Our models span a range for Lupin Limited: cautious scenario ₹1,410, base ₹2,232, optimistic ₹2,901 per share (as of Oct 3, 2026, price ₹2,029). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 500257?
Lupin Limited trades at a price-to-earnings ratio of 28.3 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹2,232 is built from several models across several years.
How solid is the balance sheet of Lupin Limited (500257)?
Balance-sheet figures for Lupin Limited (as of Oct 3, 2026): debt of 0.07 per unit of equity. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
How far is 500257 from its 52-week high?
Lupin Limited trades at ₹2,029, about 18% below its 52-week high of ₹2,476 and 6% above the low of ₹1,906 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹2,232 is for.
Which stocks are comparable to Lupin Limited?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Teva Pharmaceutical Industries Limited, Sun Pharmaceutical Industries Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Lupin Limited stock attractive at the current price?
The data as of Oct 3, 2026: price ₹2,029, calculated fair value ₹2,232 (+10%), Quality Score 70/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 500257 calculated?
We run Lupin Limited through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹2,232, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Lupin Limited currently trades 9 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Lupin Limited (500257)?
The closing price on Oct 1, 2026 was ₹2,029. Our model-based fair value is ₹2,232, about +10% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lupin Limited right now?
A fairly wide model range (₹1,410 to ₹2,901) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Lupin Limited
How large is the market capitalisation of Lupin Limited (500257)?
The market capitalisation of Lupin Limited is ₹928B (≈ $9.6B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Lupin Limited (500257)?
The price-to-sales ratio of Lupin Limited is 5.49 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Lupin Limited (500257)?
Earnings per share at Lupin Limited are ₹94.43 (price ÷ EPS = P/E 28.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Lupin Limited (500257)?
The dividend yield of Lupin Limited is 0.6% (payout 13.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Lupin Limited (500257)?
The net margin of Lupin Limited is 19.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Lupin Limited (500257)?
The return on equity (ROE) of Lupin Limited is 2,452% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Lupin Limited (500257)?
On an EBIT basis the return on assets of Lupin Limited is 12.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How much net debt does Lupin Limited (500257) carry?
The net debt of Lupin Limited is ₹17.4B (fiscal year 2025, ≈ 0.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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