Lankan Rupee is back in Mick Price's Caulfield stable with the trainer hoping he can make a late spring return.

The 2013/14 Horse of the Year and the former highest ranked sprinter in the world, the seven-year-old hasn't raced since finishing third behind Alpha Miss in the Group Two Schillaci Stakes at Caulfield last October.

It was the gelding's only start for the spring after which he was diagnosed with bone bruising in a hock.

The injury first surfaced when he finished ninth behind Chautauqua in the 2015 TJ Smith Stakes at Randwick.

The gelding had earlier won the Lightning Stakes at Flemington defeating Brazen Beau and Deep Field.

Lankan Rupee returned to Price's care last week and will be given a steady build-up for a possible reappearance in October.

The trainer said Lankan Rupee was bouncing like a two-year-old.

"He had trot and canter on Friday and trot and cantered on Saturday," Price said.

"I'll clip him on Monday and get his grubby old winter coat off him and he'll bloom.

"He's very sound at the moment."

He said Lankan Rupee had enjoyed his break away from racing and had spent time on a water walker and doing pre-training before his return to Caulfield.

At this stage Price hasn't mapped out a program for Lankan Rupee.

"I'm going to give him his chance to build through the next eight weeks," Price said.

"On what I see at the moment I'm pretty confident he'll get to trialling and hopefully racing and then we'll see what he's like under pressure.

"He's very well in himself and he's a very happy horse."