PNN

New Delhi [India], August 31 -Leading Broking and Research company, Angel One has come out with a research report on Ahmedabad based pharmaceutical company, Lincoln Pharmaceuticals Ltd (BSE: 531633 | NSE: LINCOLN).

One of India's leading healthcare companies, Lincoln Pharmaceuticals Ltd has reported excellent operational and financial performance for Q1 FY27 ended June 30, 2026. The company reported consolidated net profit of Rs. 36.23 crore in Q1 FY27 as compared to a net profit of Rs. 27.68 crore reported in Q1 FY26, registering a growth of 30.90 % Y-o-Y. Total income for the quarter ended June 2026 stood at Rs. 201.55 crore, higher by 19.02 % Y-o-Y compared to total income of Rs. 169.34 crore in Q1 FY26. EBITDA for Q1 FY27 stood at Rs. 51.70 crore as compared to EBITDA of Rs. 39.08 crore in Q1 FY26, registering a growth of 32.29 % Y-o-Y.

Angel One Rating - We recommend a 'Buy' on LINCOLN with a target price of Rs. 845, valuing the stock at ~15x FY27E EPS of Rs. 56. A strong Q1 FY27 (PAT +31% YoY) leads us to lift our estimates, and the target is underpinned by a diversified branded-generic portfolio, a debt-free balance sheet, a widening regulated-market export franchise, and a credible path to Rs. 1,000 crore revenue. At ~14.5x trailing earnings, Lincoln trades at a steep discount to the ~30x pharma-sector median, leaving room for re-rating as earnings compound. We note, however, that a part of recent profit is other income driven, so the pace of core operating delivery is the key monitorable.

During FY26, the Company reported net profit of Rs. 87.89 crore (6.74% Y-oY growth), Total income of Rs. 704.48 crore (9.10% Y-o-Y growth), EBITDA of Rs. 131.14 crore (5.78% Y-o-Y growth). Company recommended a dividend of 18 %, Rs. 1.80 per share on the face value of Rs. 10 per share for the FY 2025-26, subject to shareholder approval at the upcoming Annual General Meeting.

The Company is targeting revenue of Rs. 1,000 crore over the next three years, as part of its broader strategy to achieve an annual growth rate of 15-18%. The company expects its growth to be supported by strong performance across key therapeutic segments including cardiac, diabetic, dermatology and ENT.

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