Biocon Ltd

Biocon Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Biocon Ltd

₹ 380 -0.48%
08 May - close price
biocon.com BSE: 532523 NSE: BIOCON
About

Biocon is engaged in the business of manufacture of biotechnology products and research services.(Source : 202003-01 Annual Report Page No:195)

Key Points

Business Segments
1) Biosimilars (58% in FY25 vs 50% in FY23): [1] [2] Biocon Biologics develops and markets a range of 20 biosimilars including insulins, monoclonal antibodies, and conjugated recombinant proteins across diabetology, oncology, immunology, ophthalmology, and other non-communicable diseases. [3] It is one of the top 5 global players in biosimilars and among the top 3 in insulins. It ranks in the top 15 companies worldwide for biomanufacturing capacity and has a presence in 120+ countries, including the U.S., Europe, and emerging markets. Its product portfolio includes 10 approved biosimilars and 10 under development. [4]

The segment revenue grew by 2% YoY in FY25, driven by market share gains in the U.S. and key tender wins in the Emerging Markets. [5]

Website BSE NSE
  • Market Cap ₹ 61,659 Cr.
  • Current Price ₹ 380
  • High / Low ₹ 425 / 318
  • Stock P/E 158
  • Book Value ₹ 210
  • Dividend Yield 0.13 %
  • ROCE 3.75 %
  • ROE 1.40 %
  • Face Value ₹ 5.00
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Pros

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -9.54%
  • Company has a low return on equity of 3.51% over last 3 years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 10.9% of profits over last 3 years

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Healthcare Healthcare Pharmaceuticals & Biotechnology Pharmaceuticals

Part of BSE 500 BSE Healthcare BSE 200 BSE Dollex 200 Nifty 500

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
3,774 3,423 3,462 3,954 3,917 3,433 3,590 3,821 4,417 3,942 4,296 4,173 4,517
2,817 2,741 2,745 3,051 3,004 2,812 2,905 3,070 3,339 3,193 3,460 3,340 3,496
Operating Profit 957 681 717 903 913 620 685 752 1,078 749 835 834 1,020
OPM % 25% 20% 21% 23% 23% 18% 19% 20% 24% 19% 19% 20% 23%
152 94 134 587 40 1,166 58 53 57 80 81 -176 -28
Interest 249 233 248 267 227 236 226 223 212 277 272 210 232
Depreciation 364 358 389 414 407 405 420 425 436 455 473 515 513
Profit before tax 497 184 214 808 319 1,146 98 156 487 97 171 -68 248
Tax % 17% 19% 19% 7% 30% 25% 72% 48% 6% 8% 22% -24% 20%
414 149 173 753 223 862 27 81 459 89 133 -52 199
EPS in Rs 2.61 0.84 1.05 5.50 1.13 5.49 -0.13 0.21 2.87 0.23 0.63 1.08 0.78
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
3,090 3,347 3,891 4,123 5,514 6,300 7,143 8,184 11,174 14,756 15,262 16,927
2,394 2,957 2,912 3,294 4,121 4,696 5,562 6,391 8,762 11,540 12,008 13,472
Operating Profit 696 390 980 829 1,394 1,604 1,581 1,793 2,412 3,216 3,254 3,455
OPM % 23% 12% 25% 20% 25% 25% 22% 22% 22% 22% 21% 20%
158 639 173 228 340 199 260 72 18 853 1,217 -60
Interest 9 29 26 62 71 65 58 68 419 974 897 990
Depreciation 221 249 277 385 448 552 715 814 1,113 1,569 1,687 1,957
Profit before tax 624 751 850 610 1,215 1,186 1,068 983 897 1,525 1,887 448
Tax % 15% 19% 19% 26% 17% 27% 21% 22% 28% 15% 24% 18%
528 609 688 453 1,003 871 846 772 643 1,298 1,429 369
EPS in Rs 4.14 4.59 5.10 3.10 7.54 6.24 6.17 5.40 3.85 8.52 8.44 2.38
Dividend Payout % 20% 18% 10% 16% 7% 0% 0% 9% 39% 6% 6% 21%
Compounded Sales Growth
10 Years: 18%
5 Years: 19%
3 Years: 15%
TTM: 11%
Compounded Profit Growth
10 Years: 1%
5 Years: -12%
3 Years: -15%
TTM: -61%
Stock Price CAGR
10 Years: 14%
5 Years: 0%
3 Years: 16%
1 Year: 15%
Return on Equity
10 Years: 6%
5 Years: 4%
3 Years: 4%
Last Year: 1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 100 100 100 300 300 600 600 600 600 600 600 810
Reserves 3,171 3,934 4,738 4,881 5,798 6,106 7,027 7,832 17,267 19,183 21,044 33,221
1,117 2,478 2,302 2,264 2,422 2,715 4,481 5,147 18,019 16,277 18,362 15,434
1,988 1,947 2,254 2,545 3,672 4,993 6,382 6,763 15,856 19,693 18,534 14,185
Total Liabilities 6,375 8,458 9,394 9,990 12,192 14,414 18,490 20,342 51,742 55,753 58,540 63,651
1,630 1,748 3,626 3,700 4,471 5,971 6,364 6,569 29,468 30,644 31,963 38,860
CWIP 1,677 2,240 839 1,303 1,899 2,196 2,800 4,110 7,317 7,993 8,508 4,613
Investments 230 902 1,253 675 1,012 966 1,952 1,588 2,069 1,000 1,127 1,779
2,839 3,569 3,676 4,312 4,811 5,281 7,374 8,074 12,888 16,117 16,941 18,399
Total Assets 6,375 8,458 9,394 9,990 12,192 14,414 18,490 20,342 51,742 55,753 58,540 63,651

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
211 371 640 662 1,155 1,283 1,160 1,177 1,852 2,954 4,061 1,994
-491 -1,138 -510 -684 -703 -1,505 -3,651 -1,662 -14,260 -1,002 -203 -2,082
186 1,068 -178 -240 -242 388 2,564 242 13,049 -2,333 -1,854 -924
Net Cash Flow -94 300 -47 -261 210 165 72 -243 641 -380 2,004 -1,012
Free Cash Flow -627 -246 32 -251 -337 -546 -577 -746 129 1,046 1,718 82
CFO/OP 49% 158% 86% 104% 104% 101% 86% 80% 86% 101% 139% 65%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 91 78 83 94 86 71 77 92 117 154 131 129
Inventory Days 132 153 160 161 199 263 304 309 423 368 346 390
Days Payable 125 172 187 224 231 243 246 216 383 467 460 434
Cash Conversion Cycle 98 59 57 31 53 91 134 184 157 55 18 85
Working Capital Days -19 -12 24 6 -2 -31 8 71 3 -68 -63 -2
ROCE % 12% 9% 12% 8% 13% 13% 10% 9% 6% 6% 6% 4%

Insights

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Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
R&D Spend (Ex-Syngene)
% of Revenue

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Patient Reach
Million
Regulatory Approvals Received (Annual)
Number
Global Presence (Countries)
Countries
Market Share - Fulphila (bPegfilgrastim) US
%
API Manufacturing Capacity
Metric Tons ・Standalone data
Market Share - Ogivri (bTrastuzumab) US
%
Oral Solid Dosage (OSD) Capacity
Million Units ・Standalone data
Total Product Launches (Annual)
Number
R&D Expenditure (Percentage of Turnover)
% ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
60.64% 60.64% 60.64% 60.64% 60.64% 60.64% 60.64% 60.64% 54.45% 54.45% 54.45% 44.91%
9.52% 7.97% 6.55% 5.63% 5.90% 5.93% 5.66% 5.67% 6.04% 6.61% 7.39% 7.52%
12.59% 14.08% 14.51% 13.69% 14.29% 14.44% 15.36% 15.73% 22.83% 22.06% 21.67% 24.01%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.03% 0.03% 0.05%
16.77% 16.92% 17.96% 19.74% 18.90% 18.74% 18.11% 17.77% 16.51% 16.70% 16.34% 23.40%
0.49% 0.39% 0.33% 0.32% 0.28% 0.25% 0.22% 0.21% 0.18% 0.14% 0.12% 0.09%
No. of Shareholders 4,12,4414,15,0464,34,3394,70,2614,43,5134,39,5034,27,7054,24,2974,28,1314,13,1913,94,2793,86,593

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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