Summary of Key Information:

Reporting Period: Quarter and half year ended September 30, 2026

Nature of Filing / Announcement: Outcome of Board Meeting - Financial Results

Audit Opinion:

The Statutory Auditors, Deloitte Haskins & Sells Chartered Accountants LLP, carried out a limited review and issued an unmodified conclusion. Nothing came to their attention that causes them to believe that the Statement contains any material misstatement.

Key Financial Highlights [₹ in million]:

Standalone Results:

Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹35,673.4
  • Total Income: ₹36,628.6
  • Net Profit/(Loss) after tax: (₹59.1)
  • EPS (Basic after exceptional items): (₹0.13)

Quarter Ended June 30, 2026:

  • Revenue from Operations: ₹71,719.0
  • Total Income: ₹72,743.8
  • Net Profit after tax: ₹27,146.0
  • EPS (Basic after exceptional items): ₹59.37

Quarter Ended September 30, 2025:

  • Revenue from Operations: ₹40,682.8
  • Total Income: ₹41,382.8
  • Net Profit after tax: ₹13,573.5
  • EPS (Basic after exceptional items): ₹29.72

Six Months Ended September 30, 2026:

  • Revenue from Operations: ₹107,392.4
  • Total Income: ₹109,372.4
  • Net Profit after tax: ₹27,086.9
  • EPS (Basic after exceptional items): ₹59.24

Six Months Ended September 30, 2025:

  • Revenue from Operations: ₹97,768.7
  • Total Income: ₹99,010.1
  • Net Profit after tax: ₹34,854.2
  • EPS (Basic after exceptional items): ₹76.32

Standalone Balance Sheet (as of September 30, 2026):

  • Paid up equity share capital: ₹914.6 million
  • Other Equity: ₹320,274.2 million
  • Cash and Cash Equivalents: ₹1,654.3 million
  • Total Debt (Current Borrowings + Lease Liabilities): ₹6,194.4 million

Consolidated Results:

Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹78,272.6
  • Total Income: ₹79,540.5
  • Net Profit after tax: ₹11,553.0
  • EPS (Basic after exceptional items): ₹25.27
  • Profit attributable to Owners: ₹11,552.6

Quarter Ended June 30, 2026:

  • Revenue from Operations: ₹82,768.9
  • Total Income: ₹84,072.1
  • Net Profit after tax: ₹14,169.8
  • EPS (Basic after exceptional items): ₹30.95
  • Profit attributable to Owners: ₹14,150.0

Quarter Ended September 30, 2025:

  • Revenue from Operations: ₹70,475.1
  • Total Income: ₹71,375.1
  • Net Profit after tax: ₹14,848.3
  • EPS (Basic after exceptional items): ₹32.36
  • Profit attributable to Owners: ₹14,779.2

Six Months Ended September 30, 2026:

  • Revenue from Operations: ₹161,041.5
  • Total Income: ₹163,612.6
  • Net Profit after tax: ₹25,722.8
  • EPS (Basic after exceptional items): ₹56.21
  • Profit attributable to Owners: ₹25,702.6

Six Months Ended September 30, 2025:

  • Revenue from Operations: ₹133,158.5
  • Total Income: ₹134,848.9
  • Net Profit after tax: ₹27,062.9
  • EPS (Basic after exceptional items): ₹59.05
  • Profit attributable to Owners: ₹26,969.5

Consolidated Balance Sheet (as of September 30, 2026):

  • Paid up equity share capital: ₹914.6 million
  • Other Equity: ₹239,590.0 million
  • Non-Controlling Interest: ₹6.9 million
  • Cash and Cash Equivalents: ₹19,390.7 million
  • Total Debt (Non-Current + Current Borrowings + Lease Liabilities): ₹61,804.4 million

Segment-wise Performance:

Pharmaceuticals Segment (Consolidated):

  • Q2 FY27 Revenue: ₹77,756.3 million
  • Q2 FY27 Profit before tax: ₹16,138.4 million
  • H1 FY27 Revenue: ₹160,099.8 million
  • H1 FY27 Profit before tax: ₹36,744.0 million

Others Segment (Consolidated):

  • Q2 FY27 Revenue: ₹521.2 million
  • Q2 FY27 Loss before tax: (₹342.4) million
  • H1 FY27 Revenue: ₹951.5 million
  • H1 FY27 Loss before tax: (₹774.4) million

Corporate Actions:

  • Dividend: A final dividend of ₹18 per equity share (face value ₹2) was approved at the 44th AGM held on August 04, 2026, and disbursed on August 06, 2026, aggregating ₹8,230.2 million.
  • ESOP Allotment: During the quarter, 57,436 equity shares (year-to-date 110,861) were allotted upon exercise of vested stock options, increasing paid-up capital by ₹0.1 million (year-to-date ₹0.2 million) and securities premium by ₹87.1 million (year-to-date ₹164.0 million).

Other Significant Information:

Acquisitions and Investments:

  • Effective April 01, 2026: Nanomi B.V. acquired entire share capital of VISUfarma B.V., Netherlands for ₹20,902.7 million (Euro 192.8 million). Fair value of intangibles acquired ₹16,730.2 million, deferred tax liability ₹4,182.5 million, Goodwill ₹6,549.4 million.
  • Effective July 01, 2026: Nanomi B.V. increased ownership in Multicare Pharmaceuticals Philippines Inc. from 56.28% to 99.89% for ₹3,701.2 million plus share buyback of ₹17.0 million.
  • Effective July 20, 2026: Lupin Inc., U.S.A. sublicensed IP to Kaveri Therapeutics Inc. for equity shares valued at ₹153.3 million, obtaining 82.17% ownership.
  • Effective April 02, 2025: Lupin Healthcare (UK) Limited acquired 100% of Renascience Pharma Limited for ₹1,361.6 million. Fair value of intangibles ₹1,239.4 million, deferred tax liability ₹309.8 million, Goodwill ₹325.9 million.

Exceptional Items:

  • Standalone: A provision for diminution in value of investment in a subsidiary of ₹769.3 million in Q2 and H1 FY27.
  • Consolidated:
  • Antitrust litigation provision: Cumulative provision of ₹5,816.9 million at March 31, 2026. In H1 FY27, settled one matter for ₹3,162.8 million.
  • Settlement with Astellas: Paid ₹8,475.5 million (USD 90.0 million) for Mirabegron ER Tablets dispute. ₹1,364.7 million expensed, ₹7,110.8 million capitalized as Prepaid Option.
  • New Labour Codes: Recognized incremental cost of ₹512.2 million in FY26.
  • Settlement income: ₹873.7 million in FY26.
  • Arbitration award: Income of ₹603.2 million and reversal of provision ₹611.6 million in FY26.

Impairment:

  • The Group recognized an impairment charge of ₹246.8 million in Q2 FY27 and ₹1,130.1 million in FY26 related to certain capital work-in-progress, intangible assets, and intangible assets under development.

Entities in Consolidation:

The consolidated results include 44 entities: Lupin Limited (Parent), 43 subsidiaries, and 1 joint venture (YL Biologics Limited - Japan). New subsidiaries include VISUfarma group companies (from April 01, 2026), Lupin (Thailand) Ltd. (from April 17, 2026), and Kaveri Therapeutics Inc. (from July 20, 2026).