A deep dive into Lincoln Pharmaceuticals Ltd (LINCOLN) — examining the financials, valuation picture, and who owns the stock.
Lincoln Pharmaceuticals Revenue Trend
At ₹623 Cr, Lincoln Pharmaceuticals Ltd's FY2025 revenue was 7.4% ahead of the ₹581 Cr posted in FY2024.
The 10-year revenue CAGR of 8.9% reflects steady — if not spectacular — top-line expansion from ₹266 Cr to ₹623 Cr.
At ₹623 Cr in annual revenue, Lincoln Pharmaceuticals Ltd is one of the smaller players in the pharmaceuticals space.
Looking at the year-on-year numbers, Lincoln Pharmaceuticals Ltd has seen 8 years of unbroken revenue growth.
| Year | Revenue | YoY % |
|---|---|---|
| FY2025 | ₹623 Cr | +7.4% |
| FY2024 | ₹581 Cr | +13.8% |
| FY2023 | ₹510 Cr | +8.1% |
| FY2022 | ₹472 Cr | +11.3% |
| FY2021 | ₹424 Cr | — |
View Lincoln Pharmaceuticals Ltd's full 10-year revenue trend with CAGR analysis →
Lincoln Pharmaceuticals Profitability
Profitability was under pressure with net income dropping 11.7% to ₹82.3 Cr in FY2025.
Net margin thinned to 13.2% in FY2025, compared to 16.1% the year before.
Diluted EPS stood at ₹41.11 in FY2025, compared to ₹46.58 in FY2024.
Is Lincoln Pharmaceuticals Undervalued
Per the P/E Ratio model, Lincoln Pharmaceuticals Ltd has an estimated intrinsic value of ₹520 (15.8% downside).
Lincoln Pharmaceuticals Ltd shares are currently trading at ₹617.65.
Craytheon also calculates intrinsic value using the EPS Growth and DCF models. The full breakdown with assumptions is available in the detailed analysis.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | ₹520 | 15.8% downside to fair value |
| EPS Growth | Upgrade | Upgrade |
| DCF | Upgrade | Upgrade |
See all valuation models for Lincoln Pharmaceuticals Ltd with detailed assumptions →
Lincoln Pharmaceuticals Shareholding Pattern
Promoters haven't moved — their 49.8% holding has been unchanged for 4 quarters.
Foreign institutional investors (FIIs) held 5.2% as of March 2026, up from 5.0% a year ago.
The DII stake stands at 1.1% as of March 2026, versus 0.0% in the year-ago period.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Mar 2026 | 49.8% | 5.2% | 1.1% | 43.9% |
| Dec 2025 | 49.8% | 4.7% | 0.0% | 45.5% |
| Sep 2025 | 49.8% | 4.7% | 0.0% | 45.5% |
| Mar 2025 | 49.8% | 5.0% | 0.0% | 45.2% |
Track quarterly shareholding changes for Lincoln Pharmaceuticals Ltd →
Lincoln Pharmaceuticals Balance Sheet
Proportional view as of 10 Jul 2026. Hover blocks for details.
Assets
Liabilities & Equity
FY2025 total assets: ₹7.97B (up 13.8% YoY from ₹7.00B).
Top categories: Cash & ST Investments (23.5%), Property, Plant & Equipment (23.3%), Other Assets (22.4%).
Of the ₹7.97B in liabilities and equity, 84.3% is shareholder equity, 0.0% is interest-bearing debt, and 15.7% is operating liabilities. Notable shift: Other Liabilities is up 19.0% YoY (₹339.48M → ₹403.90M).
Balance sheet composition — FY 2025
| Category | Value |
|---|---|
| Cash & ST Investments | 1.87B |
| Receivables | 1.66B |
| Inventories | 786.77M |
| Property, Plant & Equipment | 1.86B |
| Investments | 26,000 |
| Intangibles & Goodwill | 4.40M |
| Other Assets | 1.79B |
| Category | Value |
|---|---|
| Equity | 6.72B |
| Trade Payables | 849.48M |
| Other Liabilities | 403.90M |
Lincoln Pharmaceuticals Key Highlights
Bringing the key threads together for Lincoln Pharmaceuticals Ltd (LINCOLN) as a pharmaceuticals investment opportunity.
Revenue of ₹623 Cr in FY2025, up 7.4% year-over-year.
Long-term revenue has been compounding at 8.9% annually over 10 years.
The company is profitable, with a net margin of 13.2% and net income of ₹82.3 Cr.
The P/E Ratio model implies 15.8% downside to fair value from the current price. The remaining two models are worth cross-checking before drawing a conclusion — sign up to see the full analysis.
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