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Last Updated: April 2, 2026, 3:15 am
Author: Getaka|Social: XLinkedIn

Lincoln Pharmaceuticals Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹498.66Overvalued by 16.19%vs CMP ₹595.00

P/E (13.6) × ROE (12.8%) × BV (₹357.00) × DY (0.30%)

₹497.34Overvalued by 16.41%vs CMP ₹595.00
MoS: -19.6% (Negative)Confidence: 61/100 (Moderate)Models: 1 Under, 2 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹522.7922%Over (-12.1%)
Graham NumberEarnings₹593.5516%Fair (-0.2%)
Earnings PowerEarnings₹342.7713%Over (-42.4%)
DCFCash Flow₹591.8113%Fair (-0.5%)
Net Asset ValueAssets₹357.707%Over (-39.9%)
EV/EBITDAEnterprise₹459.619%Over (-22.8%)
Earnings YieldEarnings₹438.607%Over (-26.3%)
ROCE CapitalReturns₹658.769%Under (+10.7%)
Revenue MultipleRevenue₹311.245%Over (-47.7%)
Consensus (9 models)₹497.34100%Overvalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 4.8%

*Investments are subject to market risks

Investment Snapshot

58
Lincoln Pharmaceuticals Ltd scores 58/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health77/100 · Strong
ROCE 17.3% GoodROE 12.8% GoodD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 49.8% Stable
Earnings Quality40/100 · Moderate
OPM stable around 17% SteadyWorking capital: 217 days Capital intensive
Quarterly Momentum50/100 · Moderate
Revenue (4Q): +9% YoY GrowingProfit (4Q): -1% YoY Declining
Industry Rank65/100 · Strong
P/E 13.6 vs industry 53.8 Cheaper than peersROCE 17.3% vs industry 16.4% Average3Y sales CAGR: 10% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:15 am

Market Cap 1,191 Cr.
Current Price 595
Intrinsic Value₹497.34
High / Low 679/440
Stock P/E13.6
Book Value 357
Dividend Yield0.30 %
ROCE17.3 %
ROE12.8 %
Face Value 10.0
PEG Ratio2.81

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Lincoln Pharmaceuticals Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Lincoln Pharmaceuticals Ltd 1,191 Cr. 595 679/44013.6 3570.30 %17.3 %12.8 % 10.0
Hester Biosciences Ltd 1,162 Cr. 1,366 2,350/1,23928.4 3970.51 %9.71 %9.18 % 10.0
Venus Remedies Ltd 1,151 Cr. 861 950/28615.1 4450.00 %11.1 %7.16 % 10.0
Jagsonpal Pharmaceuticals Ltd 1,243 Cr. 186 302/15529.2 37.91.35 %23.0 %18.6 % 2.00
Ind-Swift Laboratories Ltd 1,128 Cr. 138 152/67.223.8 1600.00 %0.78 %0.18 % 10.0
Industry Average19,815.15 Cr1,053.8453.84201.200.39%16.35%15.16%6.10

All Competitor Stocks of Lincoln Pharmaceuticals Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 134112136156146142147161147168154163166
Expenses 10796115125117124125133123141130138143
Operating Profit 27172131301823282427242524
OPM % 20%15%15%20%20%13%15%18%16%16%15%16%14%
Other Income 648911710109-715715
Interest 0100000010000
Depreciation 2233333333344
Profit before tax 31172537382229352916352935
Tax % 29%26%25%25%26%16%20%24%28%29%22%31%18%
Net Profit 22131928281924262112282029
EPS in Rs 10.796.279.4913.8014.009.2911.8213.1510.375.7813.829.9814.28

Last Updated: March 4, 2026, 1:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 9:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 210266400360361366386424472510581623652
Expenses 190240359313308299321337376421480522552
Operating Profit 20264147536866879690100102100
OPM % 10%10%10%13%15%18%17%21%20%18%17%16%15%
Other Income 2772551151022342231
Interest 78107542212121
Depreciation 4556677889111314
Profit before tax 122033374662678496100122109115
Tax % 16%24%28%25%25%22%23%26%28%27%24%25%
Net Profit 10152428354951626973938288
EPS in Rs 6.539.2014.5214.0617.3124.3625.7231.1234.6336.4046.5841.1143.86
Dividend Payout % 9%11%7%9%9%6%6%5%4%4%4%4%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)50.00%60.00%16.67%25.00%40.00%4.08%21.57%11.29%5.80%27.40%-11.83%
Change in YoY Net Profit Growth (%)0.00%10.00%-43.33%8.33%15.00%-35.92%17.49%-10.28%-5.49%21.60%-39.23%

Lincoln Pharmaceuticals Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:9%
5 Years:10%
3 Years:10%
TTM:6%
Compounded Profit Growth
10 Years:19%
5 Years:10%
3 Years:6%
TTM:-12%
Stock Price CAGR
10 Years:16%
5 Years:18%
3 Years:25%
1 Year:-29%
Return on Equity
10 Years:17%
5 Years:16%
3 Years:15%
Last Year:13%

Last Updated: September 5, 2025, 9:50 am

Balance Sheet

Last Updated: January 7, 2026, 4:00 pm

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 16161620202020202020202020
Reserves 8295124172204249293346413482573652696
Borrowings 6876786461345122100
Other Liabilities 93705648626371859983106125139
Total Liabilities 260258275305347366389452534587700797855
Fixed Assets 656698103117121123111132151179182185
CWIP 23370202167343
Investments 00010111834819791139174209
Other Assets 192190174186219225232259290339379437458
Total Assets 260258275305347366389452534587700797855

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 52545252753756976396393
Cash from Investing Activity + 17-42-25-12-18-31-64-78-37-57-79
Cash from Financing Activity + -11-32-30-11-36-38-6-3-4-5-6
Net Cash Flow -4-1-0-03-17-1-4-218
Free Cash Flow 1211171738686131262474
CFO/OP 36%109%126%74%68%104%137%102%104%77%89%117%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-48.00-50.00-37.00-17.00-8.0034.0061.0086.0094.0088.0099.00102.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 15416373921111229698909810297
Inventory Days 624436638675958612110610199
Days Payable 17492405482921021051207795106
Cash Conversion Cycle 431167010011510688789112610890
Working Capital Days 1376316989113126119113121127217
ROCE %11%15%21%19%19%23%22%25%24%22%22%18%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 47.00%48.68%50.53%49.81%49.54%49.78%49.78%49.78%49.78%49.78%49.78%49.78%
FIIs 1.27%1.74%2.59%3.22%3.93%3.95%5.19%5.16%5.00%5.13%4.73%4.70%
DIIs 0.00%0.00%0.00%0.06%0.05%0.04%0.00%0.00%0.00%0.01%0.01%0.01%
Public 51.74%49.57%46.87%46.92%46.49%46.24%45.04%45.07%45.23%45.08%45.49%45.51%
No. of Shareholders 29,08827,48028,67029,31631,37529,96731,33031,84831,86731,78432,37031,026

Shareholding Pattern Chart

No. of Shareholders

Lincoln Pharmaceuticals Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Motilal Oswal S&P BSE Healthcare ETF 106 0.08 0.011062025-04-22 17:25:280%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 41.1146.5836.4034.6331.11
Diluted EPS (Rs.) 41.1146.5836.4034.6331.11
Cash EPS (Rs.) 47.5551.8940.9738.6634.91
Book Value[Excl.RevalReserv]/Share (Rs.) 335.34295.98250.86216.12187.85
Book Value[Incl.RevalReserv]/Share (Rs.) 335.34295.98250.86216.12187.85
Revenue From Operations / Share (Rs.) 311.15289.84254.78235.71212.09
PBDIT / Share (Rs.) 61.8967.0755.7652.6646.42
PBIT / Share (Rs.) 55.4561.7651.1848.6242.64
PBT / Share (Rs.) 54.5161.0350.1647.9041.86
Net Profit / Share (Rs.) 41.1146.5836.4034.6331.12
NP After MI And SOA / Share (Rs.) 41.1146.5836.4034.6331.11
PBDIT Margin (%) 19.8923.1321.8822.3421.88
PBIT Margin (%) 17.8221.3020.0820.6220.10
PBT Margin (%) 17.5121.0519.6820.3219.73
Net Profit Margin (%) 13.2116.0714.2814.6914.67
NP After MI And SOA Margin (%) 13.2116.0714.2814.6914.66
Return on Networth / Equity (%) 12.2515.7314.5016.0216.58
Return on Capital Employeed (%) 16.0720.3419.8921.9422.10
Return On Assets (%) 10.3313.3212.4112.9713.54
Asset Turnover Ratio (%) 0.830.900.900.950.99
Current Ratio (X) 4.714.845.083.904.17
Quick Ratio (X) 3.974.004.113.103.53
Inventory Turnover Ratio (X) 8.007.892.482.662.18
Dividend Payout Ratio (NP) (%) 4.373.224.124.320.00
Dividend Payout Ratio (CP) (%) 3.782.893.663.870.00
Earning Retention Ratio (%) 95.6396.7895.8895.680.00
Cash Earning Retention Ratio (%) 96.2297.1196.3496.130.00
Interest Coverage Ratio (X) 65.8491.7055.0172.6859.44
Interest Coverage Ratio (Post Tax) (X) 44.7464.6936.9148.7940.86
Enterprise Value (Cr.) 1082.311159.77646.08574.49436.11
EV / Net Operating Revenue (X) 1.742.001.271.221.03
EV / EBITDA (X) 8.738.635.795.454.70
MarketCap / Net Operating Revenue (X) 1.772.021.331.321.06
Retention Ratios (%) 95.6296.7795.8795.670.00
Price / BV (X) 1.641.981.351.441.20
Price / Net Operating Revenue (X) 1.772.021.331.321.06
EarningsYield 0.070.070.100.110.13

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Lincoln Pharmaceuticals Ltd. is a Public Limited Listed company incorporated on 20/01/1995 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L24230GJ1995PLC024288 and registration number is 024288. Currently Company is involved in the business activities of Manufacture of pharmaceuticals, medicinal chemical and botanical products. Company's Total Operating Revenue is Rs. 623.23 Cr. and Equity Capital is Rs. 20.03 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
PharmaceuticalsLincoln House, Ahmedabad Gujarat 380060Contact not found
Management
NamePosition Held
Mr. Kishor M ShahNon Executive Chairman
Mr. Mahendra G PatelManaging Director
Mr. Hashmukh I PatelWhole Time Director
Mr. Munjal M PatelWhole Time Director
Mr. Ashish R PatelWhole Time Director
Mr. Rajnikant G PatelNon Executive Director
Mr. Nareshkumar SutharIndependent Director
Mr. Saurin J ParikhIndependent Director
Ms. Seema MehtaIndependent Director

FAQ

What is the intrinsic value of Lincoln Pharmaceuticals Ltd and is it undervalued?

As of 16 April 2026, Lincoln Pharmaceuticals Ltd's intrinsic value is ₹497.34, which is 16.41% lower than the current market price of ₹595.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (12.8 %), book value (₹357), dividend yield (0.30 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Lincoln Pharmaceuticals Ltd?

Lincoln Pharmaceuticals Ltd is trading at ₹595.00 as of 16 April 2026, with a FY2026-2027 high of ₹679 and low of ₹440. The stock is currently in the middle of its 52-week range. Market cap stands at ₹1,191 Cr..

How does Lincoln Pharmaceuticals Ltd's P/E ratio compare to its industry?

Lincoln Pharmaceuticals Ltd has a P/E ratio of 13.6, which is below the industry average of 53.84. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Lincoln Pharmaceuticals Ltd financially healthy?

Key indicators for Lincoln Pharmaceuticals Ltd: ROCE of 17.3 % indicates efficient capital utilization. Dividend yield is 0.30 %.

Is Lincoln Pharmaceuticals Ltd profitable and how is the profit trend?

Lincoln Pharmaceuticals Ltd reported a net profit of ₹82 Cr in Mar 2025 on revenue of ₹623 Cr. Compared to ₹69 Cr in Mar 2022, the net profit shows an improving trend.

Does Lincoln Pharmaceuticals Ltd pay dividends?

Lincoln Pharmaceuticals Ltd has a dividend yield of 0.30 % at the current price of ₹595.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Lincoln Pharmaceuticals Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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