Lincoln pharmaceuticals Limited has filed its quarterly confirmation certificate under SEBI regulations for the quarter ended March 31, 2026. The pharmaceutical company submitted the mandatory compliance document to both the National Stock Exchange of India Limited and BSE Limited on April 06, 2026.

Regulatory Compliance Filing

The certificate was submitted pursuant to Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. This quarterly filing is a mandatory requirement for listed companies to ensure proper oversight of the dematerialisation process.

Registrar Confirmation

The confirmation certificate was issued by MUFG Intime India Private Limited (formerly Link Intime India Private Limited), which serves as the company's Registrar and Share Transfer Agent. MUFG Intime confirmed that all securities received from depository participants for dematerialisation during the quarter ended March 31, 2026 were properly processed.

Dematerialisation Process Compliance

The registrar's certificate confirms several key compliance aspects:

• Securities received for dematerialisation were confirmed (accepted/rejected) to depositories within prescribed timelines
• All securities comprised in the certificates have been listed on stock exchanges where the company's earlier issued securities are listed
• Security certificates received for dematerialisation were mutilated and cancelled after due verification by the depository participant
• Names of depositories have been substituted in the register of members as registered owners

Company Authorization

The filing was authorized by Trusha K. Shah, Company Secretary and Compliance Officer of Lincoln Pharmaceuticals Limited. The document was digitally signed and submitted to ensure regulatory compliance for the quarter ended March 31, 2026.

This routine compliance filing demonstrates the company's adherence to SEBI regulations governing the dematerialisation process and depositories management.

Lincoln Pharmaceuticals Limited delivered strong financial results for the third quarter of FY26, demonstrating consistent growth across key performance metrics. The company's revenue increased 13.5% year-on-year to ₹166.32 crores, while net profit registered an impressive 37.7% growth to ₹28.60 crores during the quarter ended December 31, 2025.

Financial Performance Highlights

The company's operational efficiency improved significantly during Q3 FY26, with EBITDA growing to ₹38.74 crores compared to ₹32.63 crores in the corresponding quarter of the previous year. Profit before tax increased to ₹34.72 crores from ₹28.68 crores, reflecting improved operational leverage.

Nine-Month Performance and Growth Trajectory

For the nine months ended December 31, 2025, Lincoln Pharmaceuticals achieved an EPS of ₹38.07, approaching the full-year FY25 EPS of ₹41.11. This performance indicates the company is well-positioned to exceed previous year's annual results. Management expressed confidence in achieving strong full-year numbers, citing consistent growth momentum across business segments.

Cephalosporin Block Contributes to Revenue Growth

The company's Cephalosporin manufacturing block, which commenced operations during the current financial year, has already achieved breakeven and turned profitable. The facility is expected to contribute approximately ₹45 crores in revenue for FY26, with management targeting ₹90-100 crores from this segment in the following year, eventually scaling to ₹150 crores.

International Market Expansion

Lincoln Pharmaceuticals continues expanding its presence in regulated markets, with significant progress in Canada where the company has commercialized 15-17 products through CDMO and CMO projects. The Canadian operations are contributing approximately $4-5 million in revenue for the current year, with potential to reach $10-15 million as additional products from the 25-product pipeline get commercialized.

The company received Health Canada approval for six manufacturing lines including tablets, capsules, ointments, sachets, dry syrup, and liquid syrup, enabling broader market access across SRA-recognized territories. Management expects EU market re-entry following reinspection scheduled for May-June 2026.

R&D Investment and Future Growth Strategy

Lincoln Pharmaceuticals is increasing its R&D expenditure from the current 1.8-2.0% of revenue to 3.0-3.25% to support aggressive expansion plans in regulated markets. The company is establishing a dedicated R&D center expected to become operational within 2-2.5 months, focusing on new product development and regulatory dossier preparation.

Management maintains its long-term revenue target of ₹1,000 crores, supported by growth across domestic branded generics, international markets, and the expanding Cephalosporin business. The company expects to maintain EBITDA margins between 15-18% while pursuing both organic growth and potential inorganic expansion opportunities.