About Lincoln Pharmaceuticals Ltd
Data last updated:
Lincoln Pharmaceuticals Ltd is a public limited company based in Ahmedabad, Gujarat, India. It operates in the drug formulation and development segment of the pharmaceuticals sector. It was incorporated on 20 January 1995 and has been in existence for over 31 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN L24230GJ1995PLC024288. Its GSTIN is 24AAACL2711N1ZO (Gujarat). The company holds 3 GST registrations, of which 1 is active. It is a listed company.
The company has an authorised share capital of ₹32 Cr and a paid-up capital of ₹20.03 Cr. It is led by directors including Mahendrabhai Gulabdas Patel (Managing Director) and Hashmukhbhai Ishwarlal Patel (Whole-Time Director).
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Lincoln House Behind Satyam Complex Science City Road Sola, Ahmedabad, Gujarat, India – 380060.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹671.03 Cr, a growth of 7.7% compared to the previous year. For the same year it recorded a net profit of ₹87.89 Cr (net margin 13.1%) and EBITDA of ₹97.68 Cr (EBITDA margin 14.6%).
The company has about 1,531 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Lincoln Pharma. As per MCA filings, the company has open charges of ₹117.64 Cr and satisfied charges of ₹47 Cr on record. Court records list 89 cases involving the company, including 46 filed by the company and 37 filed against it; 9 cases are pending. The company has 107 deals on record (107 market trades); the latest was in April 2026. Its 10 peer companies in the Pharma industry (Formulations, Pharmaceuticals) are compared by revenue, 5 larger and 5 smaller; the largest is Baxter Pharmaceuticals India Private Limited with revenue of ₹671.53 Cr. The company has 14 MSME Form 1 returns on record between 2019 and 2024, listing 1,757 overdue payments to 146 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website lincolnpharma.com.
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressLincoln House Behind Satyam Complex Science City Road Sola, Ahmedabad, Gujarat, India – 380060
- IndustryPharma, Drug Formulation & Development
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
- One PDF report, delivered after checkout
Business Activity of Lincoln Pharmaceuticals Ltd
The main business activity of Lincoln Pharmaceuticals is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Lincoln Pharmaceuticals Ltd FY 2025-26 filings available
Lincoln Pharmaceuticals Ltd reported revenue of ₹671.03 Cr (up 7.7% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 671 | 623 | 581 | 510 | 472 | 424 | 386 |
| Revenue growth | +7.7% | +7.4% | +13.8% | +8.1% | +11.3% | +9.8% | - |
| EBITDA | 97.68 | 101 | 99.91 | 89.21 | 95.47 | 87.18 | 65.54 |
| EBITDA margin | +14.6% | +16.3% | +17.2% | +17.5% | +20.2% | +20.6% | +17.0% |
| Profit before tax | 116 | 109 | 122 | 100 | 95.93 | 83.72 | 67.23 |
| Net profit | 87.89 | 81.03 | 92.25 | 72.53 | 68.74 | 62.34 | 51.46 |
| Net profit margin | +13.1% | +13.0% | +15.9% | +14.2% | +14.6% | +14.7% | +13.3% |
| EPS (₹) | 43.88 | 41.11 | 46.58 | 36.40 | 34.63 | 31.08 | 25.72 |
| Balance sheet | |||||||
| Total assets | - | 678 | 598 | 509 | 439 | 371 | 323 |
| Net worth | - | 672 | 593 | 502 | 433 | 366 | 313 |
| Total debt | - | 0.00 | 1.07 | 2.00 | 2.04 | 0.52 | 5.07 |
| Cash & bank | - | 22.43 | 13.83 | 34.32 | 18.80 | 13.84 | 14.58 |
| Net working capital | - | 220 | 208 | 206 | 168 | 153 | 152 |
| Cash flow | |||||||
| Cash from operations | - | 93.02 | 63.22 | 39.26 | 76.13 | 69.27 | 75.42 |
| Cash from investing | - | (78.95) | (57.34) | (36.64) | (78.08) | (64.23) | (30.88) |
| Cash from financing | - | (6.40) | (5.18) | (4.50) | (2.56) | (5.75) | (37.76) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 177 | 187 | 166 | 163 | 154 | 168 | 147 | 161 |
| Revenue growth (YoY) | +15.1% | +11.4% | +13.5% | +1.3% | +4.6% | - | - | - |
| Other income | 24.26 | (4.20) | 15.15 | 7.23 | 15.27 | (6.88) | 8.97 | 9.98 |
| EBITDA | 27.43 | 24.86 | 23.59 | 25.42 | 23.81 | 26.72 | 23.66 | 28.38 |
| EBITDA margin | +15.5% | +13.3% | +14.2% | +15.6% | +15.5% | +15.9% | +16.1% | +17.6% |
| Depreciation | 3.88 | 3.68 | 3.72 | 3.62 | 3.48 | 3.23 | 3.22 | 3.22 |
| Interest | 0.26 | 0.27 | 0.30 | 0.23 | 0.21 | 0.37 | 0.73 | 0.35 |
| Profit before tax | 47.55 | 16.71 | 34.72 | 28.80 | 35.39 | 16.24 | 28.68 | 34.79 |
| Tax | 11.32 | 5.07 | 6.12 | 8.83 | 7.71 | 4.67 | 7.92 | 8.45 |
| Net profit | 36.23 | 11.64 | 28.60 | 19.97 | 27.68 | 11.57 | 20.76 | 26.34 |
| EPS (₹) | 18.09 | 5.81 | 14.28 | 9.98 | 13.82 | 5.78 | 10.37 | 13.15 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 671 | 623 | 581 | 510 | 472 | 423 | 376 |
| Revenue growth | +7.7% | +7.4% | +13.8% | +8.1% | +11.6% | +12.5% | - |
| EBITDA | 97.68 | 101 | 99.91 | 89.17 | 95.46 | 87.03 | 59.38 |
| EBITDA margin | +14.6% | +16.3% | +17.2% | +17.5% | +20.2% | +20.6% | +15.8% |
| Profit before tax | 116 | 109 | 122 | 100 | 95.92 | 83.66 | 64.06 |
| Net profit | 87.89 | 81.03 | 92.25 | 72.52 | 68.74 | 62.33 | 49.61 |
| Net profit margin | +13.1% | +13.0% | +15.9% | +14.2% | +14.6% | +14.7% | +13.2% |
| EPS (₹) | 43.88 | 41.11 | 46.58 | 36.40 | 34.63 | 31.08 | 24.78 |
| Balance sheet | |||||||
| Total assets | - | 678 | 598 | 509 | 439 | 371 | 313 |
| Net worth | - | 672 | 593 | 502 | 433 | 366 | 304 |
| Total debt | - | 0.00 | 1.07 | 2.00 | 2.04 | 0.52 | 4.69 |
| Cash & bank | - | 21.99 | 13.39 | 33.85 | 18.43 | 13.43 | 11.21 |
| Net working capital | - | 220 | 208 | 206 | 168 | 153 | 130 |
| Cash flow | |||||||
| Cash from operations | - | 93.02 | 63.24 | 39.16 | 76.18 | 69.39 | 70.71 |
| Cash from investing | - | (78.95) | (57.34) | (36.64) | (78.08) | (64.39) | (28.99) |
| Cash from financing | - | (6.40) | (5.18) | (4.50) | (2.56) | (5.74) | (38.10) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 177 | 187 | 166 | 163 | 154 | 168 | 147 | 161 |
| Revenue growth (YoY) | +15.1% | +11.4% | +13.5% | +1.3% | +4.6% | - | - | - |
| Other income | 24.26 | (4.20) | 15.15 | 7.23 | 15.27 | (6.88) | 8.97 | 9.98 |
| Total expenses | 150 | 162 | 143 | 138 | 130 | 141 | 123 | 133 |
| EBITDA | 27.43 | 24.86 | 23.59 | 25.42 | 23.81 | 26.72 | 23.66 | 28.38 |
| EBITDA margin | +15.5% | +13.3% | +14.2% | +15.6% | +15.5% | +15.9% | +16.1% | +17.6% |
| Depreciation | 3.88 | 3.68 | 3.72 | 3.62 | 3.48 | 3.23 | 3.22 | 3.22 |
| Interest | 0.26 | 0.27 | 0.30 | 0.23 | 0.21 | 0.37 | 0.73 | 0.35 |
| Profit before tax | 47.55 | 16.71 | 34.72 | 28.80 | 35.39 | 16.24 | 28.68 | 34.79 |
| Tax | 11.32 | 5.07 | 6.12 | 8.83 | 7.71 | 4.67 | 7.92 | 8.45 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 177 | 187 | 166 | 163 | 154 | 168 | 147 | 161 |
| Revenue growth (YoY) | +15.1% | +11.4% | +13.5% | +1.3% | +4.6% | - | - | - |
| Other income | 24.26 | (4.20) | 15.15 | 7.23 | 15.27 | (6.88) | 8.97 | 9.98 |
| EBITDA | 27.43 | 24.86 | 23.59 | 25.42 | 23.81 | 26.72 | 23.66 | 28.38 |
| EBITDA margin | +15.5% | +13.3% | +14.2% | +15.6% | +15.5% | +15.9% | +16.1% | +17.6% |
| Depreciation | 3.88 | 3.68 | 3.72 | 3.62 | 3.48 | 3.23 | 3.22 | 3.22 |
| Interest | 0.26 | 0.27 | 0.30 | 0.23 | 0.21 | 0.37 | 0.73 | 0.35 |
| Profit before tax | 47.55 | 16.71 | 34.72 | 28.80 | 35.39 | 16.24 | 28.68 | 34.79 |
| Tax | 11.32 | 5.07 | 6.12 | 8.83 | 7.71 | 4.67 | 7.92 | 8.45 |
| Net profit | 36.23 | 11.64 | 28.60 | 19.97 | 27.68 | 11.57 | 20.76 | 26.34 |
| EPS (₹) | 18.09 | 5.81 | 14.28 | 9.98 | 13.82 | 5.78 | 10.37 | 13.15 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 671 | 623 | 581 | 510 | 472 | 424 | 386 |
| Revenue growth | +7.7% | +7.4% | +13.8% | +8.1% | +11.3% | +9.8% | - |
| Other income | 33.45 | 22.48 | 34.42 | 22.47 | 10.00 | 5.66 | 11.04 |
| Total expenses | 573 | 522 | 481 | 421 | 377 | 337 | 321 |
| Employee cost | 0.00 | 112 | 103 | 93.16 | 79.72 | 63.26 | 58.65 |
| EBITDA | 97.68 | 101 | 99.91 | 89.21 | 95.47 | 87.18 | 65.54 |
| EBITDA margin | +14.6% | +16.3% | +17.2% | +17.5% | +20.2% | +20.6% | +17.0% |
| Depreciation | 14.50 | 12.90 | 10.62 | 9.17 | 8.09 | 7.56 | 7.33 |
| Interest | 1.01 | 1.88 | 1.46 | 2.03 | 1.45 | 1.56 | 2.02 |
| Profit before tax | 116 | 109 | 122 | 100 | 95.93 | 83.72 | 67.23 |
| Tax | 27.73 | 26.85 | 28.93 | 27.58 | 26.58 | 21.47 | 15.77 |
| Net profit | 87.89 | 81.03 | 92.25 | 72.53 | 68.74 | 62.34 | 51.46 |
| Net profit margin | +13.1% | +13.0% | +15.9% | +14.2% | +14.6% | +14.7% | +13.3% |
| EPS (₹) | 43.88 | 41.11 | 46.58 | 36.40 | 34.63 | 31.08 | 25.72 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | - | 20.03 | 20.03 | 20.03 | 20.03 | 20.03 | 20.00 |
| Reserves & surplus | - | 652 | 573 | 482 | 413 | 346 | 293 |
| Shareholders' funds (net worth) | - | 672 | 593 | 502 | 433 | 366 | 313 |
| Minority interest | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.38 |
| Secured loans | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.52 | 5.07 |
| Unsecured loans | - | 0.00 | 1.07 | 2.00 | 2.04 | 0.00 | 0.00 |
| Total debt | - | 0.00 | 1.07 | 2.00 | 2.04 | 0.52 | 5.07 |
| Total liabilities | - | 678 | 598 | 509 | 439 | 371 | 323 |
| Assets | |||||||
| Gross block | - | 252 | 237 | 197 | 171 | 142 | 147 |
| Net block | - | 182 | 179 | 151 | 132 | 111 | 123 |
| Capital work in progress | - | 4.47 | 3.48 | 6.71 | 16.05 | 1.69 | 0.04 |
| Investments | - | 174 | 139 | 91.33 | 96.81 | 80.67 | 34.30 |
| Inventories | - | 78.68 | 77.17 | 70.03 | 72.74 | 46.61 | 47.40 |
| Sundry debtors | - | 166 | 162 | 136 | 116 | 113 | 101 |
| Cash & bank balances | - | 22.43 | 13.83 | 34.32 | 18.80 | 13.84 | 14.58 |
| Loans & advances | - | 58.71 | 46.10 | 35.20 | 48.56 | 54.28 | 50.47 |
| Total current assets | - | 326 | 299 | 276 | 256 | 228 | 214 |
| Total current liabilities | - | 106 | 91.21 | 70.14 | 88.43 | 75.47 | 61.36 |
| Net working capital | - | 220 | 208 | 206 | 168 | 153 | 152 |
| Total assets | - | 678 | 598 | 509 | 439 | 371 | 323 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | - | 5.75 | 5.05 | 6.93 | 11.44 | 12.14 | 5.46 |
| Net cash from operating activities | - | 93.02 | 63.22 | 39.26 | 76.13 | 69.27 | 75.42 |
| Net cash from investing activities | - | (78.95) | (57.34) | (36.64) | (78.08) | (64.23) | (30.88) |
| Net cash from financing activities | - | (6.40) | (5.18) | (4.50) | (2.56) | (5.75) | (37.76) |
| Net change in cash | - | 7.67 | 0.70 | (1.88) | (4.50) | (0.70) | 6.77 |
| Closing cash | - | 22.43 | 13.83 | 34.32 | 18.80 | 13.84 | 14.58 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +7.7% | +7.4% | +13.8% | +8.1% | +11.3% | +9.8% | - |
| EBITDA growth | -3.8% | +1.6% | +12.0% | -6.6% | +9.5% | +33.0% | - |
| PBT growth | +5.9% | -10.7% | +21.7% | +4.7% | +14.6% | +24.5% | +8.1% |
| Net income growth | +8.5% | -12.2% | +27.2% | +5.5% | +10.3% | +21.1% | - |
| Revenue CAGR (3Y) | +9.6% | +9.7% | +11.0% | +9.7% | +8.8% | +5.6% | +2.4% |
| EBITDA CAGR (3Y) | +3.1% | +2.1% | +4.7% | +10.8% | +12.4% | +18.6% | +11.9% |
| Profitability & leverage | |||||||
| Net income margin | +13.1% | +13.2% | +16.1% | +14.3% | +14.7% | +14.7% | +13.3% |
| Return on capital employed | - | +17.4% | +22.4% | +21.6% | +24.0% | +24.6% | +22.0% |
| Return on net worth | - | +13.0% | +17.0% | +15.6% | +17.4% | +18.3% | +17.7% |
| Debt / equity | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.07 |
| Long-term debt / equity | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 |
| Interest cover | 1.21 | 2.12 | 1.64 | 2.54 | 1.66 | 1.96 | 3.47 |
| Efficiency & per share | |||||||
| Fixed asset turnover | - | 2.55 | 2.67 | 2.77 | 3.02 | 2.94 | 2.71 |
| Inventory turnover | - | 8.00 | 7.89 | 7.15 | 7.91 | 9.02 | 9.24 |
| Debtors turnover | - | 3.80 | 3.90 | 4.05 | 4.12 | 3.95 | 3.45 |
| EPS (₹) | 43.88 | 41.11 | 46.58 | 36.40 | 34.63 | 31.08 | 25.72 |
| Dividend per share (₹) | 1.80 | 1.80 | 1.80 | 1.50 | 1.50 | 1.50 | 1.50 |
| Book value per share (₹) | 0.00 | 335.34 | 295.98 | 250.86 | 216.12 | 182.92 | 156.54 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 177 | 187 | 166 | 163 | 154 | 168 | 147 | 161 |
| Revenue growth (YoY) | +15.1% | +11.4% | +13.5% | +1.3% | +4.6% | - | - | - |
| Other income | 24.26 | (4.20) | 15.15 | 7.23 | 15.27 | (6.88) | 8.97 | 9.98 |
| Total expenses | 150 | 162 | 143 | 138 | 130 | 141 | 123 | 133 |
| EBITDA | 27.43 | 24.86 | 23.59 | 25.42 | 23.81 | 26.72 | 23.66 | 28.38 |
| EBITDA margin | +15.5% | +13.3% | +14.2% | +15.6% | +15.5% | +15.9% | +16.1% | +17.6% |
| Depreciation | 3.88 | 3.68 | 3.72 | 3.62 | 3.48 | 3.23 | 3.22 | 3.22 |
| Interest | 0.26 | 0.27 | 0.30 | 0.23 | 0.21 | 0.37 | 0.73 | 0.35 |
| Profit before tax | 47.55 | 16.71 | 34.72 | 28.80 | 35.39 | 16.24 | 28.68 | 34.79 |
| Tax | 11.32 | 5.07 | 6.12 | 8.83 | 7.71 | 4.67 | 7.92 | 8.45 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 671 | 623 | 581 | 510 | 472 | 423 | 376 |
| Revenue growth | +7.7% | +7.4% | +13.8% | +8.1% | +11.6% | +12.5% | - |
| Other income | 33.45 | 22.48 | 34.42 | 22.48 | 10.00 | 5.74 | 12.13 |
| Total expenses | 573 | 522 | 481 | 421 | 377 | 336 | 317 |
| Employee cost | 0.00 | 112 | 103 | 93.16 | 79.72 | 63.20 | 54.90 |
| EBITDA | 97.68 | 101 | 99.91 | 89.17 | 95.46 | 87.03 | 59.38 |
| EBITDA margin | +14.6% | +16.3% | +17.2% | +17.5% | +20.2% | +20.6% | +15.8% |
| Depreciation | 14.50 | 12.90 | 10.62 | 9.17 | 8.09 | 7.56 | 5.47 |
| Interest | 1.01 | 1.88 | 1.46 | 2.03 | 1.45 | 1.55 | 1.98 |
| Profit before tax | 116 | 109 | 122 | 100 | 95.92 | 83.66 | 64.06 |
| Tax | 27.73 | 26.85 | 28.93 | 27.56 | 26.57 | 21.42 | 14.48 |
| Net profit | 87.89 | 81.03 | 92.25 | 72.52 | 68.74 | 62.33 | 49.61 |
| Net profit margin | +13.1% | +13.0% | +15.9% | +14.2% | +14.6% | +14.7% | +13.2% |
| EPS (₹) | 43.88 | 41.11 | 46.58 | 36.40 | 34.63 | 31.08 | 24.78 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | - | 20.03 | 20.03 | 20.03 | 20.03 | 20.03 | 20.00 |
| Reserves & surplus | - | 652 | 573 | 482 | 413 | 346 | 284 |
| Shareholders' funds (net worth) | - | 672 | 593 | 502 | 433 | 366 | 304 |
| Secured loans | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.52 | 4.69 |
| Unsecured loans | - | 0.00 | 1.07 | 2.00 | 2.04 | 0.00 | 0.00 |
| Total debt | - | 0.00 | 1.07 | 2.00 | 2.04 | 0.52 | 4.69 |
| Total liabilities | - | 678 | 598 | 509 | 439 | 371 | 313 |
| Assets | |||||||
| Gross block | - | 252 | 237 | 197 | 171 | 142 | 108 |
| Net block | - | 182 | 179 | 151 | 132 | 111 | 91.03 |
| Capital work in progress | - | 4.47 | 3.48 | 6.71 | 16.05 | 1.69 | 0.04 |
| Investments | - | 174 | 139 | 91.38 | 96.86 | 80.72 | 60.00 |
| Inventories | - | 78.68 | 77.17 | 70.03 | 72.74 | 46.61 | 37.54 |
| Sundry debtors | - | 166 | 161 | 135 | 115 | 112 | 91.00 |
| Cash & bank balances | - | 21.99 | 13.39 | 33.85 | 18.43 | 13.43 | 11.21 |
| Loans & advances | - | 59.83 | 47.22 | 36.32 | 49.54 | 55.32 | 41.41 |
| Total current assets | - | 326 | 299 | 276 | 256 | 227 | 181 |
| Total current liabilities | - | 106 | 91.07 | 69.98 | 88.19 | 74.91 | 51.30 |
| Net working capital | - | 220 | 208 | 206 | 168 | 153 | 130 |
| Total assets | - | 678 | 598 | 509 | 439 | 371 | 313 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | - | 5.31 | 4.58 | 6.57 | 11.03 | 11.77 | 5.31 |
| Net cash from operating activities | - | 93.02 | 63.24 | 39.16 | 76.18 | 69.39 | 70.71 |
| Net cash from investing activities | - | (78.95) | (57.34) | (36.64) | (78.08) | (64.39) | (28.99) |
| Net cash from financing activities | - | (6.40) | (5.18) | (4.50) | (2.56) | (5.74) | (38.10) |
| Net change in cash | - | 7.67 | 0.73 | (1.99) | (4.46) | (0.74) | 3.61 |
| Closing cash | - | 21.99 | 13.39 | 33.85 | 18.43 | 13.43 | 11.21 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +7.7% | +7.4% | +13.8% | +8.1% | +11.6% | +12.5% | - |
| EBITDA growth | -3.8% | +1.6% | +12.0% | -6.6% | +9.7% | +46.6% | - |
| PBT growth | +5.9% | -10.7% | +21.7% | +4.7% | +14.7% | +30.6% | +10.2% |
| Net income growth | +8.5% | -12.2% | +27.2% | +5.5% | +10.3% | +25.6% | - |
| Revenue CAGR (3Y) | +9.6% | +9.7% | +11.1% | +10.7% | +10.2% | +9.2% | +7.3% |
| EBITDA CAGR (3Y) | +3.1% | +2.1% | +4.7% | +14.5% | +16.5% | +23.7% | +11.8% |
| Profitability & leverage | |||||||
| Net income margin | +13.1% | +13.2% | +16.1% | +14.3% | +14.7% | +14.7% | +13.2% |
| Return on capital employed | - | +17.4% | +22.4% | +21.6% | +24.0% | +24.9% | +21.5% |
| Return on net worth | - | +13.0% | +17.0% | +15.6% | +17.4% | +18.6% | +17.5% |
| Debt / equity | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.07 |
| Long-term debt / equity | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | 1.21 | 2.12 | 1.64 | 2.54 | 1.66 | 1.95 | 3.67 |
| Efficiency & per share | |||||||
| Fixed asset turnover | - | 2.55 | 2.67 | 2.77 | 3.02 | 3.38 | 3.61 |
| Inventory turnover | - | 8.00 | 7.89 | 7.15 | 7.91 | 10.05 | 11.22 |
| Debtors turnover | - | 3.82 | 3.92 | 4.07 | 4.16 | 4.16 | 3.69 |
| EPS (₹) | 43.88 | 41.11 | 46.58 | 36.40 | 34.63 | 31.08 | 24.78 |
| Dividend per share (₹) | 1.80 | 1.80 | 1.80 | 1.50 | 1.50 | 1.50 | 1.50 |
| Book value per share (₹) | 0.00 | 335.34 | 295.98 | 250.86 | 216.12 | 182.92 | 152.25 |
Peer Comparison of Lincoln Pharmaceuticals Ltd
Lincoln Pharmaceuticals Ltd is compared with the companies closest to it by revenue in the Pharma industry (Formulations, Pharmaceuticals). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Baxter Pharmaceuticals India Private Limited | ₹671.53 Cr (FY 2025) | •••• | •••• | 20.0% | •••• | Vasana Chacharwadi, Gujarat, India |
| Lincoln Pharmaceuticals Ltd this company | ₹671.03 Cr (FY 2026) | •••• | •••• | 7.7% | •••• | Ahmedabad, Gujarat, India |
| Venus Remedies Limited Listed | ₹668.84 Cr (FY 2025) | •••• | •••• | 9.0% | •••• | Chandigarh, India |
| Tablets (India) Ltd | ₹667.39 Cr (FY 2025) | •••• | •••• | 9.0% | •••• | Chennai, Tamil Nadu, India |
| RPG Life Sciences Limited Listed | ₹666.11 Cr (FY 2025) | •••• | •••• | 13.0% | •••• | Mumbai, Maharashtra, India |
| Sadar Biotech Private Limited | ₹647.94 Cr (FY 2025) | •••• | •••• | 103.0% | •••• | Calangute, Goa, India |
| Theon Pharmaceuticals Limited | ₹633.1 Cr (FY 2025) | •••• | •••• | 4.0% | •••• | Chandigarh, India |
| Kopran Limited Listed | ₹629.2 Cr (FY 2024) | •••• | •••• | 14.0% | •••• | Mumbai, Maharashtra, India |
| Malladi Drugs and Pharmaceuticals Limited | ₹626.79 Cr (FY 2025) | •••• | •••• | -7.0% | •••• | Chennai, Tamil Nadu, India |
| Remus Pharmaceuticals Limited | ₹625.34 Cr (FY 2025) | •••• | •••• | 190.0% | •••• | Ahmedabad, Gujarat, India |
| Samarth Life Sciences Private Limited | ₹624.79 Cr (FY 2025) | •••• | •••• | 11.0% | •••• | Mumbai, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Lincoln Pharmaceuticals by revenue in the Pharma industry (Formulations, Pharmaceuticals), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Auditor Details of Lincoln Pharmaceuticals Ltd
Lincoln Pharmaceuticals Ltd is audited by SAMIR M. SHAH & ASSOCIATES for the financial year 2024.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| SAMIR M. SHAH & ASSOCIATES | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of Lincoln Pharmaceuticals Ltd
Lincoln Pharmaceuticals has 9 current directors and 9 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Hashmukhbhai Ishwarlal Patel Also directs: Zullinc Healthcare LLP, Cosmetics Concept Research Private Limited | Whole-Time Director | 20 Jan 1995 | 31 Years 8 Months | Current |
| Ashish Rajanikant Patel | Whole-Time Director | 14 Nov 2014 | 11 Years 10 Months | Current |
| Munjal Mahendrabhai Patel Also directs: Downtown Travels LLP, Downtown Finance Private Limited, Sunmed Corporation LLP and 1 more | Whole-Time Director | 14 Nov 2014 | 11 Years 10 Months | Current |
| Saurin Jagdish Bhai Parikh Also directs: Global Park Developer LLP, Universal Industrial Park LLP, Pashupati Texspin Export LLP and 5 more | Director | 27 Mar 2018 | 8 Years 6 Months | Current |
| Rajanikant Gulabdas Patel | Director | 01 Oct 2008 | 18 Years 0 Months | Current |
| Kishor Meghji Shah Also directs: Downtown Finance Private Limited | Director | 16 Aug 1995 | 31 Years 1 Months | Current |
Shareholding Pattern of Lincoln Pharmaceuticals Ltd
Shareholding for the quarter ended Sep 2026: promoters hold 49.80%, foreign institutional investors hold 4.60%, domestic institutional investors hold 0.30% and retail and other public shareholders hold 45.40%.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 49.80% | 49.80% | 49.80% | 49.80% |
| Public | 50.20% | 50.20% | 50.20% | 50.20% |
Charges & Borrowings of Lincoln Pharmaceuticals Ltd
| Date | Lender | Amount | Status |
|---|---|---|---|
| 03 Nov 1999 | State Bank of India | ₹58.82 Cr | Open |
| 20 Mar 1999 | State Bank of India | ₹58.82 Cr | Open |
| 24 Sep 2015 | Yes Bank Limited | ₹10 Cr | Satisfied |
| 19 May 2015 | Yes Bank Limited | ₹13 Cr | Satisfied |
| 29 Sep 2010 | Idbi Bank Limited | ₹20 Cr | Satisfied |
Total charge records: 6 View all charges
Deals & Funding of Lincoln Pharmaceuticals Ltd
Lincoln Pharmaceuticals Ltd has 107 deals on record (107 market trades); the latest was in April 2026.
Deals on record (5 of 107)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2026 | Market trade | ₹22.46 Cr | Buyer: NK Securities Research Private Limited , Qe Securities LLP Seller: NK Securities Research Private Limited , Qe Securities LLP |
| Aug 2025 | Market trade | ₹7.56 Cr | Buyer: Irage Broking Services LLP Seller: Irage Broking Services LLP |
| Aug 2025 | Market trade | ₹34.5 Cr | Buyer: NK Securities Research Private Limited , Musigma Securities, Irage Broking Services LLP Seller: NK Securities Research Private Limited , Musigma Securities, Irage Broking Services LLP |
| Sep 2024 | Market trade | ₹10.3 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Nov 2023 | Market trade | ₹12.98 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
Full deal history
All 107 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Lincoln Pharmaceuticals Ltd
Lincoln Pharmaceuticals Ltd has 89 court cases on record: 46 filed by Lincoln Pharmaceuticals, 37 filed against it, 6 where it is another party. 9 cases are pending and 80 are disposed. Status as checked between 21 Sep 2026 and 05 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 53 | 19 | 5 |
| District courts | 33 | 15 | 2 |
| NCLAT | 2 | 2 | 2 |
| Supreme Court | 1 | 1 | 0 |
Cases on record (5 of 89)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Gujarat | Court case (RA) | Filed against the company by Troikaa Pharmaceuticals Limited | Pending |
| High Court of Gujarat | Court case (RA) | Filed by the company against Troikaa Pharmaceuticals Limited | Pending |
| High Court of Gujarat | Civil suit | Filed against the company by Troikaa Pharmaceuticals Limited | Pending |
| High Court of Delhi | Commercial suit | Filed against the company by Sun Pharma Laboratories Limited | Disposed |
| Bombay High Court | Interim or miscellaneous application | Filed against the company by Troikaa Pharmaceuticals Limited | Disposed |
Full case history
All 89 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME Payment Delays by Lincoln Pharmaceuticals Ltd
Lincoln Pharmaceuticals Ltd has 14 MSME Form 1 returns on record between 2019 and 2024, listing 1,757 overdue payments to 146 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 146)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | •••• | •••• | •••• |
| Glacier Tek.Service | •••• | •••• | •••• |
| Pharma Synth Formulations Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 14 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Associated Brands with Lincoln Pharmaceuticals Ltd
Lincoln Pharmaceuticals operates one associated brand: Lincoln Pharma. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Non-beta lactam pharmaceutical formulations are manufactured in various forms. | lincolnpharma.com |
Employees and EPFO Compliance at Lincoln Pharmaceuticals Ltd
Lincoln Pharmaceuticals Ltd has a workforce of 1,531 employees as of Feb 25, 2025.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
News related to Lincoln Pharmaceuticals Ltd
Recent Activity on Lincoln Pharmaceuticals Ltd
Lincoln Pharmaceuticals Ltd has 25 board changes on record since 1995: 17 appointments and 8 cessations. The latest: Nareshkumar Pirabhai Suthar was appointed as Director on 01 Apr 2024.
28 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Lincoln Pharmaceuticals Ltd
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Lincoln Pharmaceuticals Ltd
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Lincoln Pharmaceuticals Ltd
Lincoln Pharmaceuticals has 3 GST registrations: 1 active and 2 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACL2711N1ZO | Gujarat | Active | 01 Jul 2017 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Lincoln Pharmaceuticals Ltd
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Lincoln Pharmaceuticals Ltd
Lincoln Pharmaceuticals is an active public limited company based in Ahmedabad, Gujarat, India. The company works in drug formulation and development, within the pharma industry. It was incorporated on 20 January 1995 (31+ years old) and is registered under CIN L24230GJ1995PLC024288.
Lincoln Pharmaceuticals reported revenue of ₹671.03 Cr for FY 2025-26 (up 7.7% YoY) based on consolidated financials.
Lincoln Pharmaceuticals has 9 current directors:
- Mahendrabhai Gulabdas Patel - Managing Director
- Hashmukhbhai Ishwarlal Patel - Whole-Time Director
- Ashish Rajanikant Patel - Whole-Time Director
- Munjal Mahendrabhai Patel - Whole-Time Director
- Saurin Jagdish Bhai Parikh - Director
- Rajanikant Gulabdas Patel - Director
- Kishor Meghji Shah - Director
- Nareshkumar Pirabhai Suthar - Director
- Seema Manubhai Mehta - Director
The GSTIN of Lincoln Pharmaceuticals is 24AAACL2711N1ZO, registered in Gujarat. The company has 3 GST registrations in all, of which 1 is active and 2 are cancelled or inactive.
The CIN (Corporate Identification Number) of Lincoln Pharmaceuticals is L24230GJ1995PLC024288. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes, Lincoln Pharmaceuticals is a listed company.
Lincoln Pharmaceuticals has 89 court cases on record: 46 filed by the company and 37 filed against it. 9 are pending. Most are in the high courts.
Lincoln Pharmaceuticals was incorporated on 20 January 1995, making it 31+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Lincoln Pharmaceuticals has 107 deals on record (107 market trades); the latest was in April 2026.
The peers of Lincoln Pharmaceuticals by revenue are Baxter Pharmaceuticals India Private Limited, Venus Remedies Limited, Tablets (India) Ltd, RPG Life Sciences Limited, Sadar Biotech Private Limited and 5 more, all in the Pharma industry (Formulations, Pharmaceuticals).
Nareshkumar Pirabhai Suthar was appointed as Director on 01 Apr 2024. Seema Manubhai Mehta was appointed as Director on 01 Apr 2024. Pirabhai Ramjibhai Suthar ceased to be Director on 31 Mar 2024. Lincoln Pharmaceuticals has 25 board changes on record in total.
Lincoln Pharmaceuticals has 14 MSME Form 1 returns on record between 2019 and 2024, listing 1,757 overdue payments to 146 micro and small suppliers. The latest return was filed on 23 Apr 2024.