2026
reporting yearFinancials
Revenue—
OpEx—
FTE—
Market cap (FY-end)—
Climate
Scope 1—
Scope 2 (market)—
Scope 2 (location)—
Scope 3 total—
RVBA-LUPIN◇Private
Lupin Ltd
IN
Verified credentials
SBTi Validated1.5°C
Decarbonisation trajectory · all scopes
Scope 1 + 2· base 2023 · 350k tCO2eScope 3· base 2024 · 1.0M tCO2e
Headline intensities
Reporting year 2024·Values in USD ($)· normalised from INR at FY2024 avg rate
Peer cohort: — · lower is betterRevenue intensity
Carbon / $m revenue
682tCO2e / $m
Carbon per million dollars of revenue. The legacy industry-standard reference (CDP, MSCI). Useful for cross-sector context, but distorted by margin — high-margin firms appear artificially efficient. Read alongside the operational and asset intensities for the full picture.
no peer comparison yet
Operational intensity
Carbon / $m OpEx
—tCO2e / $m
OpEx (operating expenditure) is the running cost of the business — staff, services, energy, materials. This shows how carbon-intensive operations are per million dollars of spend. Removes the margin distortion that revenue-based ratios introduce.
no peer comparison yet
Economic intensity
Carbon / $m EVIC
—tCO2e / $m
EVIC (Enterprise Value Including Cash) is the firm's total capital footprint — equity + debt + cash + minority interest. The EU's standard intensity measure (SFDR PAI 3) — answers: how much carbon does each million of capital deployed in this business produce?
no peer comparison yet
Asset intensity
Carbon / $m PP&E + leased
—tCO2e / $m
PP&E (Property, Plant & Equipment) plus leased real-estate assets is the firm's physical infrastructure on the balance sheet. This shows the carbon intensity of that physical footprint — uses Scope 1+2+3 for consistency with the other headline intensities. Surfaces stranded-asset risk for asset-heavy firms.
no peer comparison yet
Climate action evidence
5 records · 1 sourceCarbon credits retired
67,500 tCO2e
5 retirements · FYNaN–NaN · third-party verified
By credit quality
- Avoidance / reductions67,500 tCO2e(100%)
Retirement records(top 5 by volume of 5)
- 30,000 tCO2e
- 15,000 tCO2e
- 14,037 tCO2e
- 7,500 tCO2e
- 963 tCO2e
Renewable electricity
19 %
Self-reported renewable electricity share, FY2024 · 314.8 GWh
Sources
- · berkeley_voluntary_registry
Registry retirements are direct evidence; commitments are forward-looking pledges. EPA snapshot covers FY2019–FY2020.
Strategy & approach
How the firm describes its decarbonisation approach in its own words — alongside the headline numbers above. Self-reported, page-cited.
Approach to renewable energy
19% renewable electricity via rooftop solar PV and open-access PPAs
Lupin has commissioned off-grid rooftop solar PV plants totaling 1.06 MW at Tarapur, Goa and Nagpur sites, reducing emissions by 925 tCO2e. At the Mandideep site, 4 MW of open-access renewable power has been procured. Biomass briquette boilers (5 TPH at Ankleshwar, 8 TPH at Tarapur) replace fossil-fuel boilers, saving an estimated 2,000 tCO2e. Renewable electricity stood at 19% in FY25, targeting 35% by 2030.
Self-reported · FY2024 · p.18
Approach to carbon removals
No narrative on durable removals approach in the firm's most recent reports.
Primary decarbonisation levers
- Energy efficiency in manufacturing (chillers, AHU motors, screw presses)
Replaced inefficient chillers with energy-efficient ones and converted open-loop chilled brine to closed-loop at Tarapur. Installed EC motors for AHU at Pithampur. Multipurpose screw presses replaced decanters at Ankleshwar, Mandideep, Pithampur and Goa saving ~600,000 kWh/year. Air-to-air heat exchanger installed for fermentation process air at Tarapur.
- Fuel switching to biomass briquette boilers
Commissioned biomass briquette boilers (5 TPH at Ankleshwar, 8 TPH at Tarapur) to switch fuel mix away from fossil sources, reducing emissions by an estimated 2,000 tCO2e.
- Green propellants for pMDI inhalers
Pressurized Metered Dose Inhalers (pMDI) currently use propellants with high global warming potential. Lupin is developing green propellants with near-zero GWP and working on actions across the value chain to reduce associated emissions.
- Water circularity and Zero Liquid Discharge
Implemented Zero Liquid Discharge (ZLD) at six manufacturing facilities. Water-reduction initiatives include using RO reject water for cooling tower makeup, and AHU condensate water for canteen cleaning. Achieved 7% water withdrawal reduction vs FY21 baseline.
Dependent decarbonisation levers
- Value chain supplier ESG assessment
100% of critical raw material and packaging material suppliers undergo ESG assessment. Eight awareness programs were conducted for value chain partners on sustainability basics, BRSR regulations, human rights and GHG emissions reduction, covering 100% of strategic and critical material/packaging suppliers.
Targets
Near-term
2 targets| Scope | Base | Target | Reduction | Alignment | Progress | Status |
|---|---|---|---|---|---|---|
| Scope 1 + 2Absolute | 2023 | 2030 | −42% | 1.5°C | 6.9% reduction achieved vs 42% target (16% of the way there). Linear pace expects 6.0% by now. −6.9% reductionof −42% target · 16% there | On track |
| Scope 3 | 2024 | 2033 | −61% | 0.0% reduction achieved vs 61% target (0% of the way there). Linear pace expects 0.0% by now. −0.0% reductionof −61% target · 0% there | On track |
Progress · absolute tCO2e
Scope 1 + 2 trajectory vs target
Scope 1 + 2 · 42% by 2030 · 1.5°C
ActualLinear1.5°C
Scope 3 trajectory vs target
Scope 3 · 61% by 2033
ActualLinear1.5°C
Latest news· last 5 of 14
full news log →- 2024LEED Platinum certification for Lupin Research Park Pune
- 2024Completed Scope 3 GHG inventory across value chain
- 202438% Scope 1+2 reduction target by 2030 (FY23 baseline)
- 202435% renewable electricity by 2030
- 202410% water withdrawal reduction by 2030 (FY21 baseline)