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.

Lincoln Pharmaceuticals Limited has delivered impressive financial results for the third quarter of FY2026, with the Board of Directors approving the unaudited financial results on February 12, 2026. Following the strong quarterly performance, the company has now made available the audio recording of its conference call held on February 18, 2026, to discuss these results with stakeholders.

Conference Call Recording Availability

Lincoln Pharmaceuticals has fulfilled its regulatory obligations under Regulation 30 of the SEBI (LODR) Regulations, 2015, by making the audio recording of its Q3FY26 results conference call publicly available. The conference call was conducted on February 18, 2026, at 4:00 PM IST, following the company's prior intimation dated February 13, 2026.

Financial Performance Highlights

The company's Q3FY26 performance showcased robust growth across key financial metrics. Net profit surged to ₹28.60 crore compared to ₹20.77 crore in Q3FY25, representing a substantial 37.70% year-on-year increase. Revenue from operations grew 13.49% to ₹166.32 crore from ₹146.55 crore in the corresponding quarter of the previous year.

Regulatory Compliance and Transparency

The company's proactive approach to regulatory compliance is evident through its timely disclosure of the conference call recording. The audio recording has been made available on the company's official website at lincolnpharma.com, ensuring transparency and accessibility for all stakeholders including investors, analysts, and regulatory authorities.

Strategic Growth Trajectory

Managing Director Mahendra Patel highlighted the company's ambitious growth strategy during previous communications, targeting revenue of ₹1,000 crore within the next three years. The company aims to achieve a 15-18% annual growth rate, driven by strong performance in cardiac, diabetic, dermatology, and ENT segments. Lincoln Pharmaceuticals continues to strengthen its R&D pipeline with over 100 new development programmes across multiple therapeutic segments and dosage forms.

Market Position and Global Expansion

The company maintains a strong international presence, currently exporting to over 60 countries across East and West Africa, Central and North America, Latin America, and Southeast Asia. Lincoln Pharmaceuticals aims to expand this footprint to 90 countries over the next 2-3 years, with recent entry into the Canadian market and approvals from TGA Australia and EU GMP positioning the company for further global expansion.