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Lupin Ltd
NSE:LUPIN

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Lupin Ltd
NSE:LUPIN
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Price: 2 294.3999 INR -2.01% Market Closed
Market Cap: ₹1T

EV/EBIT

17.5
Current
36%
Cheaper
vs 3-y average of 27.4

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
17.5
=
Enterprise Value
₹1T
/
EBIT
₹59.6B

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
17.5
=
Enterprise Value
₹1T
/
EBIT
₹59.6B

Valuation Scenarios

Lupin Ltd is trading below its 3-year average

If EV/EBIT returns to its 3-Year Average (27.4), the stock would be worth ₹3 600.26 (57% upside from current price).

Statistics
Positive Scenarios
4/4
Maximum Downside
No Downside Scenarios
Maximum Upside
+57%
Average Upside
48%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 17.5 ₹2 294.4
0%
3-Year Average 27.4 ₹3 600.26
+57%
5-Year Average 27.4 ₹3 600.26
+57%
Industry Average 25.6 ₹3 356.3
+46%
Country Average 23.3 ₹3 055.78
+33%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
₹1T
/
Jan 2026
₹59.6B
=
17.5
Current
₹1T
/
Mar 2026
₹65.4B
=
15.9
Forward
₹1T
/
Mar 2027
₹59.1B
=
17.6
Forward
₹1T
/
Mar 2028
₹58.8B
=
17.7
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
IN
Lupin Ltd
NSE:LUPIN
1.1T INR 17.5 22.6
US
Eli Lilly and Co
NYSE:LLY
835.2B USD 29.2 40.5
US
Johnson & Johnson
NYSE:JNJ
547.8B USD 21.4 26
CH
Roche Holding AG
SIX:ROG
248.4B CHF 13.4 20.1
UK
AstraZeneca PLC
LSE:AZN
216.4B GBP 21.9 28
CH
Novartis AG
SIX:NOVN
223.1B CHF 15.6 19.5
US
Merck & Co Inc
NYSE:MRK
276.9B USD 11.5 15.2
IE
Endo International PLC
LSE:0Y5F
244.4B USD 970 -83.6
DK
Novo Nordisk A/S
CSE:NOVO B
1.1T DKK 9.8 11.4
US
Pfizer Inc
NYSE:PFE
153.5B USD 10.1 19.8
US
Bristol-Myers Squibb Co
NYSE:BMY
118.2B USD 8.9 16.8
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
IN
Lupin Ltd
NSE:LUPIN
Average EV/EBIT: 102.7
17.5
12%
1.5
US
Eli Lilly and Co
NYSE:LLY
29.2
22%
1.3
US
Johnson & Johnson
NYSE:JNJ
21.4
13%
1.6
CH
Roche Holding AG
SIX:ROG
13.4
6%
2.2
UK
AstraZeneca PLC
LSE:AZN
21.9
21%
1
CH
Novartis AG
SIX:NOVN
15.6
9%
1.7
US
Merck & Co Inc
NYSE:MRK
11.5
6%
1.9
IE
E
Endo International PLC
LSE:0Y5F
970
N/A N/A
DK
Novo Nordisk A/S
CSE:NOVO B
9.8
2%
4.9
US
Pfizer Inc
NYSE:PFE
10.1
-4%
N/A
US
Bristol-Myers Squibb Co
NYSE:BMY
8.9
-6%
N/A
P/E Multiple
Earnings Growth PEG
IN
Lupin Ltd
NSE:LUPIN
Average P/E: 22
22.6
13%
1.7
US
Eli Lilly and Co
NYSE:LLY
40.5
32%
1.3
US
Johnson & Johnson
NYSE:JNJ
26
8%
3.3
CH
Roche Holding AG
SIX:ROG
20.1
14%
1.4
UK
AstraZeneca PLC
LSE:AZN
28
25%
1.1
CH
Novartis AG
SIX:NOVN
19.5
14%
1.4
US
Merck & Co Inc
NYSE:MRK
15.2
14%
1.1
IE
E
Endo International PLC
LSE:0Y5F
Negative Multiple: -83.6 N/A N/A
DK
Novo Nordisk A/S
CSE:NOVO B
11.4
0%
N/A
US
Pfizer Inc
NYSE:PFE
19.8
22%
0.9
US
Bristol-Myers Squibb Co
NYSE:BMY
16.8
16%
1

Market Distribution

In line with most companies in India
Percentile
36th
Based on 2 572 companies
36th percentile
17.5
Low
0.4 — 15.7
Typical Range
15.7 — 34.7
High
34.7 —
Distribution Statistics
India
Min 0.4
30th Percentile 15.7
Median 23.3
70th Percentile 34.7
Max 48 145.1

Lupin Ltd
Glance View

In the bustling landscape of the global pharmaceutical industry, Lupin Ltd. stands as a testament to the transformative power of innovation and strategic foresight. Founded in 1968 by Dr. Desh Bandhu Gupta, Lupin embarked on its journey with a clear vision: to deliver high-quality drugs at affordable prices. Over the years, it has adeptly navigated the complex world of pharmaceuticals to become a formidable player in the generics market. Its success is built on a robust portfolio that includes a diverse range of generic and branded formulations across many therapeutic segments such as cardiovascular, diabetology, asthma management, and anti-tuberculosis. The company prioritizes intensive research and development, paving the way for both the introduction of new generics and the development of advanced drug delivery systems. Such focus ensures Lupin maintains a competitive edge in both established markets like the United States and emerging markets across Asia and Africa. The company’s financial engine is powered largely by its extensive manufacturing and distribution capabilities, which are strategically positioned across the globe to maximize efficiency and meet demand. With state-of-the-art facilities in India supplemented by strategic acquisitions and partnerships overseas, Lupin produces a wide array of active pharmaceutical ingredients (APIs) and finished dosages, allowing it to capture value across different stages of the drug supply chain. This vertically integrated model not only enhances profit margins but also provides the agility to respond quickly to market shifts. Furthermore, Lupin's strategic emphasis on biosimilars and specialty drugs reinforces its commitment to innovation, unlocking new revenue streams amid growing global healthcare demands. As Lupin continues to expand its footprint, it remains anchored in its mission to improve healthcare outcomes, embodying a legacy where profitability harmoniously aligns with purpose.

LUPIN Intrinsic Value
1 805.6529 INR
Overvaluation 21%
Intrinsic Value
Price ₹2 294.3999
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