Lupin Limited

NSEI:LUPIN Stock Report

Market Cap: ₹928.7b

Lupin Valuation

Is LUPIN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of LUPIN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: LUPIN (₹2036) is trading above our estimate of fair value (₹1472.34)

Significantly Below Fair Value: LUPIN is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for LUPIN?

Key metric: As LUPIN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for LUPIN. This is calculated by dividing LUPIN's market cap by their current earnings.
What is LUPIN's PE Ratio?
PE Ratio35.4x
Earnings₹26.26b
Market Cap₹928.66b

Price to Earnings Ratio vs Peers

How does LUPIN's PE Ratio compare to its peers?

The above table shows the PE ratio for LUPIN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average32.2x
ZYDUSLIFE Zydus Lifesciences
22.4x0.6%₹958.9b
500124 Dr. Reddy's Laboratories
18.9x-1.0%₹1.0t
500420 Torrent Pharmaceuticals
60.6x22.7%₹1.1t
CIPLA Cipla
26.9x7.3%₹1.2t
LUPIN Lupin
35.4x16.4%₹928.7b

Price-To-Earnings vs Peers: LUPIN is expensive based on its Price-To-Earnings Ratio (35.4x) compared to the peer average (32.2x).

Price to Earnings Ratio vs Industry

How does LUPIN's PE Ratio compare vs other companies in the IN Pharmaceuticals Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
INDSWFTLAB Ind-Swift Laboratories
1.5xn/aUS$67.74m
524652 Ind-Swift
2xn/aUS$13.11m
No more companies available in this PE range
LUPIN 35.4xIndustry Avg. 34.2xNo. of Companies18PE020406080100+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: LUPIN is expensive based on its Price-To-Earnings Ratio (35.4x) compared to the Indian Pharmaceuticals industry average (34.2x).

Price to Earnings Ratio vs Fair Ratio

What is LUPIN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

LUPIN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio35.4x
Fair PE Ratio45.8x

Price-To-Earnings vs Fair Ratio: LUPIN is good value based on its Price-To-Earnings Ratio (35.4x) compared to the estimated Fair Price-To-Earnings Ratio (45.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst LUPIN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹2,036.00
₹2,218.36
+9.0%
12.9%₹2,750.00₹1,519.00n/a36
Nov ’25₹2,197.70
₹2,047.19
-6.8%
16.5%₹2,750.00₹1,397.00n/a36
Oct ’25₹2,194.40
₹1,994.20
-9.1%
17.1%₹2,515.00₹1,284.00n/a35
Sep ’25₹2,240.20
₹1,960.79
-12.5%
16.4%₹2,443.00₹1,284.00n/a34
Aug ’25₹1,953.35
₹1,642.26
-15.9%
12.1%₹1,958.00₹1,221.00n/a34
Jul ’25₹1,616.05
₹1,591.86
-1.5%
12.8%₹1,958.00₹1,192.00n/a35
Jun ’25₹1,582.55
₹1,585.34
+0.2%
12.4%₹1,952.00₹1,192.00n/a35
May ’25₹1,645.90
₹1,514.66
-8.0%
15.7%₹1,949.00₹840.00n/a35
Apr ’25₹1,623.75
₹1,515.56
-6.7%
13.5%₹1,949.00₹1,123.00n/a34
Mar ’25₹1,624.55
₹1,508.86
-7.1%
14.2%₹1,949.00₹1,080.00n/a35
Feb ’25₹1,513.70
₹1,205.41
-20.4%
15.9%₹1,593.00₹900.00n/a34
Jan ’25₹1,312.85
₹1,146.25
-12.7%
17.2%₹1,593.00₹816.00n/a36
Dec ’24₹1,296.65
₹1,111.65
-14.3%
15.9%₹1,451.00₹740.00n/a37
Nov ’24₹1,132.75
₹986.11
-12.9%
17.4%₹1,290.00₹660.00₹2,197.7037
Oct ’24₹1,171.25
₹943.68
-19.4%
16.2%₹1,290.00₹660.00₹2,194.4037
Sep ’24₹1,093.85
₹939.63
-14.1%
16.2%₹1,290.00₹660.00₹2,240.2038
Aug ’24₹988.20
₹764.95
-22.6%
10.6%₹977.00₹643.00₹1,953.3538
Jul ’24₹902.75
₹760.92
-15.7%
10.9%₹977.00₹643.00₹1,616.0537
Jun ’24₹812.15
₹734.46
-9.6%
11.2%₹918.00₹572.00₹1,582.5537
May ’24₹709.50
₹697.70
-1.7%
12.1%₹858.00₹555.00₹1,645.9037
Apr ’24₹648.40
₹703.27
+8.5%
11.9%₹858.00₹555.00₹1,623.7537
Mar ’24₹661.40
₹716.95
+8.4%
14.3%₹1,100.00₹555.00₹1,624.5539
Feb ’24₹737.40
₹745.55
+1.1%
12.8%₹1,100.00₹580.00₹1,513.7038
Jan ’24₹733.70
₹737.86
+0.6%
12.7%₹1,100.00₹580.00₹1,312.8537
Dec ’23₹770.30
₹737.59
-4.2%
12.7%₹1,100.00₹580.00₹1,296.6537
Nov ’23₹709.25
₹701.82
-1.0%
15.2%₹1,100.00₹575.00₹1,132.7538

Analyst Forecast: Target price is less than 20% higher than the current share price.

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