LINCOLNHealthcare

Lincoln Pharmaceuticals Limited

Pharmaceuticals · ISIN INE405C01035 · BSE 531633 · NSE EQ · FV ₹10
Last price
₹510
+1.19%today
What this company does

Lincoln Pharmaceuticals Limited operates in Pharmaceuticals, part of the Healthcare sector. It booked ₹191 cr of revenue in its latest quarter (Q2 FY27) and kept 10.7% of sales as profit.

“The Company is engaged in the business of manufacturing and trading of pharmaceutical products.”
In the report:
71out of 100
Equitytale Health Score
Solid

Healthier than 71% of companies in Healthcare, on all six measures of filed financials. Each measure is ranked against the 16–153 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
37

At close. Not part of the score.

Profitability & returns44

How much profit it earns on the money it employs

Balance sheet89

How much it owes, and whether earnings cover the interest

Cash quality71

Whether reported profit actually arrives as cash

Growth & consistency50

Whether sales and profit have grown, and how steadily

Valuation93

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Sales up 17% vs last year
✓ Promoters hold 50%
✓ No promoter shares pledged
✓ Virtually debt-free
✓ Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in LINCOLN?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹510▲ +1.19%
latest close · 2026-11-04
1-year return
+33.0%
52-wk low ₹25552-wk high ₹648
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio12.5Low
LowAverageHigh
P/B ratio1.26Moderate
Below bookModerateHigh
EV / EBITDA7.6Low
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity10.1%Fair
WeakFairStrong ▸15%
Return on capital14.0%Fair
WeakFairStrong
Net margin10.7%Decent
ThinDecentStrong
EBITDA margin17.4%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Interest cover92.3×Strong
RiskyOkayStrong ▸5×
Current ratio5.08Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹1,022 cr
Book value
₹405
EPS
₹10.20
latest quarter
Net debt
₹-18 cr
more cash than debt
Enterprise value
₹1,004 cr
EBITDA
₹133 cr
annualised
EBIT
₹117 cr
annualised
Operating margin
15.3%
Return on assets
8.5%
Earnings yield
7.99%
P/S
1.34
Sales / share
₹382.1
Tax rate
29.6%
Face value
₹10
Shares
2.0 cr
Working capital
₹517 cr
Current assets
₹643 cr
Current liabilities
₹127 cr
Delivery %
44.3%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2025 report & filings
not investment advice
Priced about rightMedium confidence
Median of 2 models ₹504 vs market price ₹510 — price is 1% above it
Safety cushion-1.2%(target ≥ +20%)
Models span ₹373–₹636, midpoint ₹504
Model ₹504
Price ₹510
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹191 cr
Other Income₹10 cr
Total Income₹201 cr
Cost of Materials₹77 cr
Purchases of Stock-in-Trade₹27 cr
Inventory Change (±)₹-6 cr
Employee Benefit Expense₹31 cr
Finance Costs₹31.8 L
Depreciation & Amortisation₹4 cr
Other Expenses₹38 cr
Total Expenses₹172 cr
Profit before Tax₹29 cr
Tax Expense₹9 cr
Net Profit₹20 cr
Net margin on total income10.2%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹98 cr48.7%
Employee benefit expense₹31 cr15.6%
Finance costs₹31.8 L0.2%
Depreciation & amortisation₹4 cr1.9%
Other expenses₹38 cr19.2%
Tax expense₹9 cr4.3%
Profit for the period₹20 cr10.2%
Total income ₹201 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue187 cr177 cr191 cr
Total income183 cr202 cr201 cr
Expenses166 cr154 cr172 cr
Profit before tax17 cr48 cr29 cr
Tax5 cr11 cr9 cr
Net profit (owners' share)12 cr36 cr20 cr
Net margin (owners' share, on revenue)6.2%20.4%10.7%
EPS (₹)5.8118.0910.20
YoY (latest quarter): total income +17.8% · net profit +2.2%
Balance sheet & cash flow · as of Sep 2026
Debt-free
Total assets
₹964 cr
Shareholder equity
₹812 cr
parent shareholders
Total debt
₹3 cr
Cash
₹21 cr
Cash flow · H1 FY27
Operating
₹37 cr
Investing
₹-36 cr
Financing
₹-2 cr
Peer comparison
Pharmaceuticals · by market value
CompanyPriceMarket capP/E
Sun Pharmaceutical Industries Limited₹1,770₹4.25 L cr53.3
Divi's Laboratories Limited₹10,064₹2.67 L cr74.1
Torrent Pharmaceuticals Limited₹4,650₹1.77 L cr82.7
Laurus Labs Limited₹2,323₹1.26 L cr71.1
Zydus Lifesciences Limited₹1,241₹1.24 L cr33.2
Dr. Reddy's Laboratories Limited₹1,368₹1.14 L cr30.8
Cipla Limited₹1,397₹1.13 L cr32.2
Mankind Pharma Limited₹2,475₹1.02 L cr35.9
Aurobindo Pharma Limited₹1,695₹97,502 cr23.7
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.35%
trailing 12 months
Dividend / share (TTM)
₹1.8
Last dividend
₹1.8
ex 11 Sep 2026
ActionDetailEx-date
Dividend₹1.8 / share11 Sep 2026
Dividend₹1.8 / share12 Sep 2025
Dividend₹1.8 / share13 Sep 2024
Dividend₹1.5 / share15 Sep 2023
Dividend₹1.5 / share15 Sep 2022
Dividend₹1.5 / share16 Sep 2021
Who owns it · 2026-09-30
No pledge
Promoter
49.8%
FII / Foreign
4.5%
DII / Domestic
0.0%
Retail / others
45.6%
Promoter stake down 0.8% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtMunjal Mahendrabhai Patel · Promoter Group13,500 · ₹73.1 L4 Jun 24
BoughtMunjal Mahendrabhai Patel · Promoter Group20,000 · ₹1.1 cr3 Jun 24
BoughtMunjal Mahendrabhai Patel · Promoter Group15,000 · ₹84.7 L31 May 24
Bulk / block deals
BoughtQE SECURITIES LLP · NSE1.10 L @ ₹701.4629 Apr 26
SoldQE SECURITIES LLP · NSE1.07 L @ ₹709.2829 Apr 26
SoldNK SECURITIES RESEARCH PRIVATE LIMITED · NSE2.08 L @ ₹707.9329 Apr 26
Stake changes
BoughtMunjal Mahendrabhai Patel · promoter→ 13.37% · 13,5004 Jun 24
BoughtMunjal Mahendrabhai Patel · promoter→ 13.30% · 35,0003 Jun 24
SoldPatel Nishitkumar Maheshbhai alongwith PAC · promoter→ 0.76% · 1,00027 Feb 24
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 30 Sep 2026
See the official result
1
To receive, consider and adopt the audited Standalone and Consolidated financial statements of the Company for the financial year ended March 31, 2026, the reports of Board of Directors and Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
18.86 L votes for, 1,062 against · 0% of mutual funds and other big investors said no
2
To declare dividend of Rs. 1.80/- (i.e.18%) per equity share of Rs. 10/- each for the financial year 2025-2026.
Backed by 100% of shareholders other than promotersneeded 50%
18.97 L votes for, 45 against · 0% of mutual funds and other big investors said no
3
To appoint a director in place of Mr. Hashmukh I. Patel [DIN: 00104834], who retires by rotation and being eligible offers himself for re-appointment as a Director.
Promoters had a personal stake in this
Backed by 73% of shareholders other than promotersneeded 50%
13.89 L votes for, 5.08 L against · 99% of mutual funds and other big investors said no
4
To appoint a director in place of Mr. Munjal Mahendrabhai Patel [DIN: 02319308], who retires by rotation and being eligible offers himself for re-appointment as a director.
Promoters had a personal stake in this
Backed by 73% of shareholders other than promotersneeded 50%
13.90 L votes for, 5.07 L against · 99% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 29 named members
owning 49.8% between them · as of 2026-09-30
Munjal Mahendrabhai Patel13.37%
Ashish Rajanikant Patel10.60%
Rajanikant Gulabdas Patel3.78%
Mahendrabhai Gulabdas Patel3.37%
Sunmed Corporation Llp2.50%
Kailashben Mahendrabhai Patel2.40%
Downtown Travels Llp2.37%
Hasmukhbhai Ishwarbhai Patel1.87%
Business done with them
FY2026 · 7 of the group
The company paid ₹8 cr to companies in the promoter group last year — about 1.1% of its ₹671 cr revenue and received ₹19 cr back from them.
DOWNTOWN FINANCE PRIVATE LIMITED
Contribution received from them · Advance Given Advance Settled Loan Repaid Loan Received Interest Income on Loan Given Dividend Paid
also owns 0.53% of the company
₹19 cr
company received
DOWNTOWN FINANCE PRIVATE LIMITED
Contribution made to them · Advance Given Advance Settled Loan Repaid Loan Received Interest Income on Loan Given Dividend Paid
also owns 0.53% of the company
₹4 cr
company paid
MUNJAL MAHENDRABHAI PATEL
Other payments to them · Remuneration Dividend Paid
also owns 13.37% of the company
₹69.2 L
company paid
ASHISH RAJANIKANT PATEL
Other payments to them · Remuneration Dividend Paid
also owns 10.60% of the company
₹68.2 L
company paid
Downtown Travels LLP
Other payments to them · Travelling expenses Staff Welfare Expenses Dividend Paid
also owns 2.37% of the company
₹53.9 L
company paid
MAHENDRABHAI GULABDAS PATEL
Other payments to them · Remuneration, Dividend Paid, Rent,Rent Deposit
also owns 3.37% of the company
₹50.6 L
company paid
MUNJAL MAHENDRABHAI PATEL
Contribution made to them · Remuneration Dividend Paid
also owns 13.37% of the company
₹48.2 L
company paid
ASHISH RAJANIKANT PATEL
Contribution made to them · Remuneration Dividend Paid
also owns 10.60% of the company
₹38.2 L
company paid
Sunmed Corporation LLP
Contribution made to them · Commission ,Dividend Paid Advance Settled, Advance Given
also owns 2.50% of the company
₹36.1 L
company paid
Sunmed Corporation LLP
Contribution received from them · Commission ,Dividend Paid Advance Settled, Advance Given
also owns 2.50% of the company
₹27.1 L
company received
DOWNTOWN FINANCE PRIVATE LIMITED
Other income from them · Advance Given Advance Settled Loan Repaid Loan Received Interest Income on Loan Given Dividend Paid
also owns 0.53% of the company
₹20.6 L
company received
MAHENDRABHAI GULABDAS PATEL
Contribution made to them · Remuneration, Dividend Paid, Rent,Rent Deposit
also owns 3.37% of the company
₹12.2 L
company paid
Sunmed Corporation LLP
Other income from them · Commission ,Dividend Paid Advance Settled, Advance Given
also owns 2.50% of the company
₹12 L
company received
Downtown Travels LLP
Contribution made to them · Travelling expenses Staff Welfare Expenses Dividend Paid
also owns 2.37% of the company
₹8.6 L
company paid
MAHENDRABHAI GULABDAS PATEL
Leases As Lessor · Remuneration, Dividend Paid, Rent,Rent Deposit
also owns 3.37% of the company
₹7.7 L
company received
Aniruddh H Patel
Contribution made to them · Dividend Paid
also owns 0.43% of the company
₹1.6 L
company paid

The company also transacted with 14 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.