Lupin Limited (LUPIN) - Net Assets

Latest as of March 2026: Rs225.13 Billion INR ≈ $2.43 Billion USD

Based on the latest financial reports, Lupin Limited (LUPIN) has net assets worth Rs225.13 Billion INR (≈ $2.43 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs383.65 Billion ≈ $4.15 Billion USD) and total liabilities (Rs158.51 Billion ≈ $1.71 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Lupin Limited strategic asset allocation index to assess the company's strategic physical and investment asset allocation.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs225.13 Billion
% of Total Assets	58.68%
Annual Growth Rate	19.69%
5-Year Change	84.2%
10-Year Change	66.37%
Growth Volatility	19.97

Lupin Limited - Net Assets Trend (2004–2026)

This chart illustrates how Lupin Limited's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see market cap of Lupin Limited.

Annual Net Assets for Lupin Limited (2004–2026)

The table below shows the annual net assets of Lupin Limited from 2004 to 2026. Also explore LUPIN net assets growth trend to track the company's year-over-year net asset growth rate.

Year	Net Assets	Change
2026-03-31	Rs225.13 Billion ≈ $2.43 Billion	+30.18%
2025-03-31	Rs172.94 Billion ≈ $1.87 Billion	+20.32%
2024-03-31	Rs143.73 Billion ≈ $1.55 Billion	+14.60%
2023-03-31	Rs125.43 Billion ≈ $1.36 Billion	+2.63%
2022-03-31	Rs122.22 Billion ≈ $1.32 Billion	-11.81%
2021-03-31	Rs138.58 Billion ≈ $1.50 Billion	+10.15%
2020-03-31	Rs125.81 Billion ≈ $1.36 Billion	-8.76%
2019-03-31	Rs137.89 Billion ≈ $1.49 Billion	+1.26%
2018-03-31	Rs136.17 Billion ≈ $1.47 Billion	+0.63%
2017-03-31	Rs135.32 Billion ≈ $1.46 Billion	+20.87%
2016-03-31	Rs111.95 Billion ≈ $1.21 Billion	+25.82%
2015-03-31	Rs88.98 Billion ≈ $962.30 Million	+27.14%
2014-03-31	Rs69.99 Billion ≈ $756.86 Million	+32.96%
2013-03-31	Rs52.64 Billion ≈ $569.24 Million	+28.85%
2012-03-31	Rs40.85 Billion ≈ $441.80 Million	+22.58%
2011-03-31	Rs33.33 Billion ≈ $360.41 Million	+28.51%
2010-03-31	Rs25.93 Billion ≈ $280.46 Million	+80.21%
2009-03-31	Rs14.39 Billion ≈ $155.63 Million	+11.63%
2008-03-31	Rs12.89 Billion ≈ $139.41 Million	+47.61%
2007-03-31	Rs8.73 Billion ≈ $94.45 Million	+48.30%
2006-03-31	Rs5.89 Billion ≈ $63.68 Million	+20.04%
2005-03-31	Rs4.91 Billion ≈ $53.05 Million	+13.67%
2004-03-31	Rs4.32 Billion ≈ $46.67 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Lupin Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 18796800000000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (March 2026)

Component	Amount	Percentage
Retained Earnings	Rs187.97 Billion	83.73%
Common Stock	Rs914.40 Million	0.41%
Other Components	Rs35.60 Billion	15.86%
Total Equity	Rs224.48 Billion	100.00%

Lupin Limited Competitors by Market Cap

The table below lists competitors of Lupin Limited ranked by their market capitalization.

Company	Market Cap
BALOISE HLDG AG ADR/1/10 F:BLO	$10.20 Billion
Eurofins Scientific SE PA:ERF	$10.22 Billion
The AES Corporation NYSE:AES	$10.23 Billion
SK TELECOM CO.LTD.ADR 5/9 F:KMBA	$10.24 Billion
Camden Property Trust NYSE:CPT	$10.19 Billion
China Pacific Insurance (Group) Co. Ltd F:75C	$10.19 Billion
Mankind Pharma Ltd NSE:MANKIND	$10.19 Billion
Shenzhen Megmeet Electrical Co Ltd SHE:002851	$10.16 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Lupin Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2025 to 2026, total equity changed from 172,035,000,000 to 224,482,700,000, a change of 52,447,700,000 (30.5%).
Net income of 53,328,400,000 contributed positively to equity growth.
Dividend payments of 5,483,400,000 reduced retained earnings.
Share repurchases of 670,700,000 reduced equity.
New share issuances of 164,600,000 increased equity.
Other factors increased equity by 5,108,800,000.

Equity Change Factors (2025 to 2026)

Factor	Impact	Contribution
Net Income	Rs53.33 Billion	+23.76%
Dividends Paid	Rs5.48 Billion	-2.44%
Share Repurchases	Rs670.70 Million	-0.3%
Share Issuances	Rs164.60 Million	+0.07%
Other Changes	Rs5.11 Billion	+2.28%
Total Change	Rs-	30.49%

Book Value vs Market Value Analysis

This analysis compares Lupin Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 4.21x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 192.26x to 4.21x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2004-03-31	Rs10.73	Rs2063.20	x
2005-03-31	Rs12.18	Rs2063.20	x
2006-03-31	Rs15.49	Rs2063.20	x
2007-03-31	Rs21.65	Rs2063.20	x
2008-03-31	Rs31.21	Rs2063.20	x
2009-03-31	Rs34.22	Rs2063.20	x
2010-03-31	Rs58.63	Rs2063.20	x
2011-03-31	Rs73.21	Rs2063.20	x
2012-03-31	Rs89.52	Rs2063.20	x
2013-03-31	Rs115.88	Rs2063.20	x
2014-03-31	Rs153.45	Rs2063.20	x
2015-03-31	Rs196.45	Rs2063.20	x
2016-03-31	Rs246.55	Rs2063.20	x
2017-03-31	Rs297.98	Rs2063.20	x
2018-03-31	Rs299.50	Rs2063.20	x
2019-03-31	Rs302.61	Rs2063.20	x
2020-03-31	Rs276.92	Rs2063.20	x
2021-03-31	Rs303.21	Rs2063.20	x
2022-03-31	Rs267.67	Rs2063.20	x
2023-03-31	Rs272.78	Rs2063.20	x
2024-03-31	Rs312.54	Rs2063.20	x
2025-03-31	Rs375.81	Rs2063.20	x
2026-03-31	Rs490.15	Rs2063.20	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Lupin Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 23.76%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 19.07%
• Asset Turnover: 0.73x
• Equity Multiplier: 1.71x
Recent ROE (23.76%) is above the historical average (19.22%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2004	32.34%	11.46%	0.99x	2.86x	Rs962.34 Million
2005	18.77%	7.28%	0.93x	2.77x	Rs429.02 Million
2006	27.75%	10.20%	0.84x	3.22x	Rs1.11 Billion
2007	35.33%	15.32%	0.89x	2.59x	Rs2.21 Billion
2008	31.90%	15.08%	0.80x	2.63x	Rs2.80 Billion
2009	35.20%	13.28%	0.91x	2.90x	Rs3.59 Billion
2010	26.54%	14.28%	0.94x	1.98x	Rs4.25 Billion
2011	26.29%	15.11%	0.93x	1.87x	Rs5.34 Billion
2012	21.62%	12.25%	0.89x	1.99x	Rs4.66 Billion
2013	25.25%	13.63%	1.08x	1.71x	Rs7.94 Billion
2014	34.67%	18.82%	1.25x	1.47x	Rs17.10 Billion
2015	27.08%	18.82%	0.97x	1.48x	Rs15.16 Billion
2016	20.25%	16.00%	0.62x	2.03x	Rs11.44 Billion
2017	18.95%	14.73%	0.65x	1.97x	Rs12.08 Billion
2018	1.85%	1.59%	0.60x	1.94x	Rs-11.06 Billion
2019	4.41%	4.14%	0.52x	2.03x	Rs-7.68 Billion
2020	-2.15%	-1.75%	0.62x	1.99x	Rs-15.23 Billion
2021	8.81%	8.02%	0.64x	1.71x	Rs-1.64 Billion
2022	-12.57%	-9.31%	0.75x	1.80x	Rs-27.43 Billion
2023	3.45%	2.58%	0.72x	1.84x	Rs-8.16 Billion
2024	13.40%	9.57%	0.83x	1.68x	Rs4.85 Billion
2025	19.08%	14.45%	0.78x	1.70x	Rs15.61 Billion
2026	23.76%	19.07%	0.73x	1.71x	Rs30.88 Billion

Industry Comparison

This section compares Lupin Limited's net assets metrics with peer companies in the Drug Manufacturers - Specialty & Generic industry.

Industry Context

Industry: Drug Manufacturers - Specialty & Generic
Average net assets among peers: $28,018,515,021
Average return on equity (ROE) among peers: 13.16%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Lupin Limited (LUPIN)	Rs225.13 Billion	32.34%	0.70x	$10.20 Billion
Aarey Drugs & Pharmaceuticals Limited (AAREYDRUGS)	$354.09 Million	3.07%	2.25x	$30.30 Million
Aarti Drugs Limited (AARTIDRUGS)	$1.00 Billion	13.75%	2.66x	$420.83 Million
Aarti Pharmalabs Limited (AARTIPHARM)	$13.86 Billion	-0.01%	0.47x	$773.91 Million
Abbott India Limited (ABBOTINDIA)	$3.05 Billion	19.95%	0.50x	$6.00 Billion
Ajanta Pharma Limited (AJANTPHARM)	$25.99 Billion	18.00%	0.28x	$4.74 Billion
Akums Drugs and Pharmaceutical (AKUMS)	$33.31 Billion	7.66%	0.64x	$1.27 Billion
Alkem Laboratories Limited (ALKEM)	$12.05 Billion	19.50%	0.29x	$6.67 Billion
Amrutanjan Health Care Limited (AMRUTANJAN)	$964.67 Million	9.99%	0.49x	$153.02 Million
Alembic Pharmaceuticals Limited (APLLTD)	$50.67 Billion	22.63%	0.32x	$1.75 Billion
Aurobindo Pharma Limited (AUROPHARMA)	$138.92 Billion	17.02%	0.90x	$10.33 Billion

About Lupin Limited

NSE:LUPIN India Drug Manufacturers - Specialty & Generic

Market Cap

$10.20 Billion

Rs943.37 Billion INR

Market Cap Rank

#2194 Global

#92 in India

Share Price

Rs2063.20

Change (1 day)

-1.52%

52-Week Range

Rs1905.60 - Rs2514.80

All Time High

Rs2514.80