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Systematix Report

Systematix has revised its target price on Lupin Ltd. to Rs 2,408 (Rs 2454 earlier) on FY28E EPS with a multiple pf 25x and retain ‘Hold’ and lowers its EPS forecast for FY28 by 2%.

The near-term earnings growth may be a challenge for Lupin as they should see impact of competition in their largest portfolio product (gTolvaptan) in FY27.

Potentially gMirabegron may also see competition in FY27 (brokerage’s current expectation is H2-FY28) However Systematix sees recovery in growth post FY28 as they monetize their biosimilar pipeline (Pegfilgrastim, ranibizumab, etanercept) and get additional approvals in the respiratory inhaler space (gDulera).

Company is also looking to file other respiratory inhalers like Spiriva Respimat, Symbicort, Advair HFA which could be monetized over the next two-four years.

Nirmal Bang expects Lupin to deliver revenue/Ebitda/PAT growth of 4%/-8%/-13% respectively over FY26-28E.

Lupin Q4 Earnings Highlights

Lupin reported Q4 FY26 revenue of Rs 74,747 million, up 32% YoY and 4% QoQ. Ebitda at Rs 21,711 mn, surged by 68% YoY and down 1% QoQ.

Ebitda margin at 29%, expanded by 625 bps YoY and down by 178 bps QoQ. Lupin reported profit after tax of Rs 14,603 mn, showing a growth of 89% YoY and reduced 24% QoQ. PAT margin stood at 19.5%, up 591 bps YoY and down by 314 bps QoQ.

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Shares of home-based services provider Urban Company Ltd., fell over 8% on Monday with the stock trading Rs 130.32 intraday. The drop comes after Urban Company posted widening of consolidated loss to Rs 161 crore for March quarter FY26 mainly on account of investment in new service InstaHelp. The company had posted a loss of Rs 2.84 crore in the same period a year ago, as per a regulatory filing.

Urban Company, Founder and CEO, Abhiraj Singh Bhal said InstaHelp exited the fourth quarter with around 27 lakh orders with March alone crossing 11 lakh orders and net transaction value (NTV) of Rs 40 crore from near-zero at the start of FY26.

The company has announced winding up of its Saudi Arabia arm but the process has been delayed due to ongoing Middle East conflict. “We wish to inform that the process has been delayed beyond the originally anticipated timeline owing to prevailing geopolitical factors and related administrative complexities. The winding up/ dissolution process is expected to be completed within the next 5-6 months,” the filing said.

Revenue from operations of Urban Company grew by about 43%  to Rs 425.56 crore during the quarter from Rs 298.45 crore in March 2025 quarter.

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Urban Company Ltd. Share Price Today

Urban Company Share Price Today
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The scrip fell as low as 8.14% to Rs 128.30 apiece intraday on Monday at 9:32 a.m. This compares to a 0.92% fall in the NSE Nifty 50 Index.

It has fallen 23.63% in the last 12 months and 3.01% year-to-date. Total traded volume so far in the day stood at 8.02 times its 30-day average. The relative strength index was at 49.21.

Out of seven analysts tracking the company, one maintain a ‘buy’ rating, three maintain a “hold”, and three maintain a “sell” rating, according to Bloomberg data. The average 12-month consensus price target of Rs 133.14 implies an upside of 5.9%

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India’s U-17 women’s football team have reached the AFC U-17 Women’s Asian Cup knockout stages for the first time ever and now stand one win away from securing a historic FIFA World Cup qualification on merit when they face hosts China on Monday, May 11 at the Suzhou Sports Centre Stadium.

The Young Tigresses advanced to the quarter-finals as one of the best third-placed teams after a decisive 4-0 victory over Lebanon. A semifinal berth would guarantee qualification for the FIFA U-17 Women’s World Cup Morocco 2026, something no Indian football team, men’s or women’s, has ever achieved through the qualification route.

India On The Brink Of Football History

Pamela Conti’s U-17 team is now just 90 minutes away from a landmark moment for Indian football.

No Indian national football team has ever qualified for a FIFA World Cup on sporting merit. India’s only appearances at FIFA tournaments came automatically as hosts, at the FIFA U-17 Men’s World Cup in 2017 and the FIFA U-17 Women’s World Cup in 2022.

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In both editions, the Indian teams exited in the group stages without registering a single win.

This current U-17 women’s side, however, has already broken new ground. Competing in a difficult AFC U-17 Women’s Asian Cup group featuring Australia, Japan and Lebanon, India suffered back-to-back defeats before delivering under pressure against Lebanon in a must-win final group game.

Pritika Barman scored twice in the 4-0 victory, while Alva Devi Senjam and Joya also found the net as India sealed progression into the quarterfinals.

The result also ended a 21-year wait for an Indian victory at the AFC U-17 Women’s Asian Cup, with the country’s last win in the competition coming back in 2005.

Pamela Conti’s Early Impact

A significant part of India’s transformation has come under head coach Pamela Conti.

The 44-year-old former Italy international midfielder, who earned 90 caps for her country, was appointed by the AIFF in January 2026 and has quickly reshaped the side’s identity.

Under Conti, India have adopted a far more aggressive and attack-minded approach, with her tactical shift to a 4-3-3 system already producing results. Earlier this year, the U-17 team competed in and won the SAFF U19 Women’s Championship, as part of their preparations for the Asian Cup and that confidence has carried into the continental stage.

Massive Test Against China

India now face their toughest challenge yet against tournament hosts China in the quarterfinal on Monday, May 11.

China topped Group A with a perfect record of nine points and enter the knockout stages as one of the tournament favourites. The hosts have scored 15 goals without conceding so far at the tournament. 

India will start as clear underdogs against a vastly more experienced and structurally developed footballing nation.

Yet the stakes could not be bigger. Victory would send India into the semifinals and officially seal qualification for the FIFA U-17 Women’s World Cup Morocco 2026.

Where To Watch India U-17 Women Vs China Live In India

The AFC U-17 Women’s Asian Cup quarterfinal between India and China will be streamed live on the official AFC Asian Cup YouTube channel.

The match will not be televised on traditional sports TV channels in India.

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