Lincoln Pharmaceuticals Ltd, a Gujarat-based healthcare company reported a 28 per cent growth in net profit for the year ending March 31, 2024, an official release stated here Thursday.

The company reported a net profit of ₹93.37 crore as against a net profit of ₹72.6 crore for the previous year 2022-23. The total income of the company stood at ₹614.97 crore which is 15 percent more than the previous year’s income of ₹532.78 crore. The company has recommended a dividend of 18per cent, ₹1.80 per share on the face value of ₹10 per share for the FY 2023-24.

Mahendra Patel, Managing Director, Lincoln Pharmaceuticals Limited, stated, “Lincoln has demonstrated remarkable consistency in its growth trajectory, achieving significant milestones year after year. From FY13 to FY24, the company has continuously improved its margins and achieved a commendable feat of consistent profit growth. In FY24 alone, Lincoln maintained its momentum with strong growth across all business segments, culminating in a net profit of ₹93.37 crore and an EBITDA of ₹134.33 crore.”

“Looking ahead, Lincoln is poised to sustain and even accelerate its growth momentum. With plans for new product launches in both domestic and export markets, alongside strategic expansions into newer markets, the company aims to further solidify its market presence. This robust performance is reflected in the company’s decision to recommend a dividend of ₹1.80 per share, underscoring Lincoln’s commitment to delivering value to its shareholders while continuing its growth trajectory,” he added.

Over the last 5 years, the company has delivered over 13 per cent CAGR in profits and higher single digit growth in sales. The company has been successful in increasing its profit margins from around 13 per cent in FY19 to over 16per cent in FY24. Company is also ranked among a very few companies to achieve a profit growth every single year from FY13 to FY23, the company stated in the release. The company has developed 600 plus formulations in 15 therapeutic areas and has a strong product/brand portfolio in anti-infective, respiratory system, gynaecology, cardio & CNS, anti-bacterial, ant-diabetic, anti-malaria among others. Company has filed 25 plus patent applications and is awarded with seven patents.