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Linc Limited Q3 FY26: Revenue Up 5.8% to ₹129.3 Cr, PAT Margins Contract to 5.2%
Linc Limited reported a modest 5.8% YoY revenue growth to ₹129.29 crores for Q3 FY26, though PAT margins contracted by 191 bps to 5.2%. Operating EBITDA margins stood at 10%, impacted by a one-time labor regulation expense; excluding this, adjusted margins were 10.7%. While volumes grew to 16.4 crore units, the average selling price (ASP) declined to ₹5.0 from ₹6.3 due to a strategic shift toward the mass-market ₹5 segment. The company faces a delay in its Bengal manufacturing facility, now expected in Q1 FY27, but maintains a healthy net free cash position of ₹10.14 crores.
Key Highlights
Operating income grew 5.8% YoY to ₹129.29 crores, while PAT stood at ₹6.77 crores.
Writing instrument volumes rose to 16.4 crore units, with the Pentonic brand contributing 6.5 crore units.
Adjusted EBITDA margin was 10.7% after excluding a one-time non-recurring employee benefit expense.
Average Selling Price (ASP) declined to ₹5.0 due to a deliberate product mix shift toward the ₹5 MRP segment.
The Bengal manufacturing facility is delayed and is now expected to become operational by Q1 FY27.
💼 Action for Investors
Investors should monitor the impact of the lower-priced product mix on long-term profitability and track the timely commissioning of the Bengal facility in FY27. The strong cash flow from operations of ₹33.81 crores provides a buffer during this investment phase.
Lincoln Pharma Q3 Net Profit Surges 37.7% YoY to ₹28.6 Crore; Revenue Up 13.5%
Lincoln Pharmaceuticals reported a strong performance for the quarter ended December 31, 2025, with consolidated net profit rising 37.7% YoY to ₹28.60 crore. Revenue from operations grew by 13.5% YoY to ₹166.32 crore, supported by steady growth in its core pharmaceutical business. The company's profitability improved significantly on a sequential basis, with net profit jumping 43.1% compared to the previous quarter. For the nine-month period, the company maintained a healthy trajectory with a net profit of ₹76.26 crore on revenues of ₹483.75 crore.
Key Highlights
Consolidated Revenue from Operations grew 13.5% YoY to ₹166.32 crore in Q3 FY26
Net Profit for the quarter stood at ₹28.60 crore, up from ₹20.77 crore in the same period last year
Earnings Per Share (EPS) increased to ₹14.28 from ₹10.37 in Q3 FY25
Profit Before Tax (PBT) rose to ₹34.72 crore, reflecting improved operational efficiency
Nine-month (9M FY26) revenue reached ₹483.75 crore with a net profit of ₹76.26 crore
💼 Action for Investors
The strong YoY and QoQ growth in profitability suggests robust operational performance. Investors should monitor the sustainability of these margins and the company's expansion in the pharmaceutical segment.
Linc Q3 FY26 Results: Revenue Up 6.4% YoY, PAT Drops 22.3% to ₹6.77 Crore
Linc Limited reported a modest 6.4% YoY growth in total income to ₹13,151 lacs for Q3 FY26, but profitability was significantly impacted. PAT declined by 22.3% YoY to ₹677 lacs, driven by a one-time increase in employee benefit expenses and ₹83 lacs in losses from strategic joint ventures. EBITDA margins contracted to 11.5% from 12.9% in the previous year, though the company remains net debt-free with a cash surplus of ₹1,014 lacs. Management noted that the new Bengal manufacturing facility is slightly delayed and is now expected to be operational by Q1 FY27.
Key Highlights
Total Income grew 6.4% YoY to ₹13,151 lacs, but declined 7.0% on a sequential (QoQ) basis.
PAT fell 22.3% YoY to ₹677 lacs, with PAT margins contracting by 191 bps to 5.2%.
EBITDA margin stood at 11.5%; excluding a one-time labor regulation cost, the normalized margin would have been 12.2%.
Net Debt remains negative at ₹(1,014) lacs, indicating a strong cash-positive balance sheet.
Joint venture losses of ₹83 lacs were recorded as international operations in Turkey, Kenya, and Korea remain in the investment phase.
💼 Action for Investors
Investors should watch for the stabilization of margins and the commissioning of the Bengal facility in Q1 FY27 to drive future growth. While the current earnings are weak due to one-time costs and JV investments, the company's debt-free status provides a safety buffer.
Linc Ltd Q3 FY26 PAT Declines 15.7% YoY to ₹7.46 Cr; Revenue Up 6.3% YoY
Linc Limited reported a mixed performance for the quarter ended December 31, 2025, with revenue from operations growing 6.3% YoY to ₹125.48 crore. However, profitability faced significant pressure as Net Profit (PAT) declined by 15.7% YoY to ₹7.46 crore, down from ₹8.85 crore in the previous year's quarter. The company also saw a sequential decline in revenue and profit compared to Q2 FY26. A one-time impact of ₹87.78 lakhs was recorded due to new Labour Code valuations, and the company is currently contesting a GST demand of ₹353.39 lakhs.
Key Highlights
Revenue from operations stood at ₹12,548.21 lakhs, up 6.3% YoY but down 7.5% QoQ.
Profit After Tax (PAT) fell to ₹745.88 lakhs compared to ₹884.90 lakhs in Q3 FY25.
Earnings Per Share (EPS) decreased to ₹1.25 from ₹1.49 in the corresponding quarter last year.
Employee benefit expenses included a ₹87.78 lakh incremental impact from the new Labour Code actuarial valuation.
The company is contesting a GST demand and penalty totaling over ₹706 lakhs related to HSN classification.
💼 Action for Investors
Investors should monitor the margin contraction as profits have declined despite revenue growth. The pending GST litigation and the impact of rising stock-in-trade costs are key risks to watch in the near term.
CRISIL Reaffirms Lincoln Pharmaceuticals' Credit Rating at 'CRISIL A/Stable' and 'CRISIL A1'
CRISIL has reaffirmed Lincoln Pharmaceuticals' long-term rating at 'CRISIL A/Stable' and short-term rating at 'CRISIL A1' for its Rs 102 crore bank facilities. The company maintains a robust financial profile with zero debt and a healthy net worth of Rs 671 crore as of March 31, 2025. Revenue grew by 14% YoY to Rs 623 crore in FY25, supported by a strong export presence contributing 60-65% of total sales. While the liquidity position is strong with Rs 173.1 crore in liquid investments, investors should monitor the increase in loans to affiliates, which rose to Rs 141 crore.
Key Highlights
CRISIL reaffirmed long-term rating at 'CRISIL A/Stable' and short-term rating at 'CRISIL A1' for Rs 102 crore facilities.
Company reported zero debt as of March 31, 2025, with a high interest coverage ratio of 91.01 times.
Revenue grew 14% year-on-year to Rs 623.23 crore in FY25, driven by 1,700 registered products.
Liquid investments in shares, debentures, and mutual funds stood at Rs 173.1 crore.
Loans and advances to affiliates increased to Rs 141 crore from Rs 104 crore in the previous year.
💼 Action for Investors
The reaffirmation of ratings and zero-debt status highlights the company's strong solvency and financial health. Investors should remain positive but monitor the rising loans to affiliates and the working capital cycle.