Concord Biotech Ltd
Incorporated in 1984, Concord Biotech Limited is an India-based R&D-driven biopharma company and manufacturer of fermentation-based APIs across immunosuppressants and oncology.[1]
- Market Cap ₹ 11,609 Cr.
- Current Price ₹ 1,110
- High / Low ₹ 2,150 / 1,100
- Stock P/E 36.6
- Book Value ₹ 174
- Dividend Yield 0.95 %
- ROCE 28.4 %
- ROE 21.4 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 18.7% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 28.2%
Cons
- Company has high debtors of 159 days.
* 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 Nifty 500 BSE Allcap BSE 250 SmallCap Index
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 239 | 276 | 340 | 436 | 512 | 617 | 713 | 853 | 1,017 | 1,200 | 1,159 | |
| 133 | 145 | 212 | 256 | 308 | 289 | 439 | 509 | 585 | 693 | 714 | |
| Operating Profit | 105 | 131 | 127 | 180 | 205 | 328 | 274 | 344 | 432 | 507 | 445 |
| OPM % | 44% | 48% | 37% | 41% | 40% | 53% | 38% | 40% | 42% | 42% | 38% |
| 11 | 8 | 36 | 17 | 31 | 14 | 23 | 35 | 34 | 44 | 43 | |
| Interest | 1 | 0 | 1 | 1 | 1 | 1 | 6 | 5 | 3 | 1 | 0 |
| Depreciation | 10 | 10 | 18 | 19 | 21 | 28 | 50 | 54 | 54 | 54 | 69 |
| Profit before tax | 106 | 129 | 144 | 178 | 213 | 313 | 241 | 320 | 409 | 496 | 418 |
| Tax % | 34% | 33% | 30% | 33% | 21% | 25% | 26% | 26% | 26% | 25% | |
| 70 | 87 | 100 | 118 | 169 | 235 | 179 | 238 | 305 | 373 | 315 | |
| EPS in Rs | 76.32 | 94.78 | 105.66 | 124.48 | 177.65 | 247.44 | 187.76 | 22.76 | 29.13 | 35.65 | 30.13 |
| Dividend Payout % | 22% | 25% | 0% | 21% | 22% | 0% | 3% | 30% | 30% | 25% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 19% |
| 3 Years: | 19% |
| TTM: | 6% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 19% |
| 3 Years: | 27% |
| TTM: | -3% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -32% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 21% |
| 3 Years: | 21% |
| Last Year: | 21% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 |
| Reserves | 268 | 329 | 585 | 673 | 761 | 990 | 1,098 | 1,282 | 1,515 | 1,802 | 1,815 |
| 35 | 36 | 22 | 9 | 52 | 89 | 62 | 32 | 10 | 3 | 2 | |
| 55 | 74 | 69 | 71 | 118 | 94 | 144 | 191 | 164 | 219 | 194 | |
| Total Liabilities | 367 | 448 | 685 | 763 | 941 | 1,183 | 1,313 | 1,515 | 1,699 | 2,034 | 2,021 |
| 104 | 110 | 189 | 230 | 240 | 546 | 573 | 593 | 575 | 795 | 790 | |
| CWIP | 19 | 70 | 3 | 19 | 141 | 18 | 74 | 173 | 211 | 51 | 74 |
| Investments | 42 | 43 | 151 | 229 | 199 | 142 | 74 | 138 | 244 | 335 | 354 |
| 202 | 225 | 343 | 285 | 361 | 477 | 592 | 611 | 668 | 854 | 804 | |
| Total Assets | 367 | 448 | 685 | 763 | 941 | 1,183 | 1,313 | 1,515 | 1,699 | 2,034 | 2,021 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 79 | 155 | 167 | 207 | 246 | 265 | 245 | ||||
| -42 | -114 | -195 | -112 | -158 | -155 | -160 | ||||
| -37 | -43 | 31 | -100 | -85 | -99 | -99 | ||||
| Net Cash Flow | 0 | -1 | 3 | -4 | 3 | 12 | -14 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 165 | 182 | 236 | 133 | 131 | 105 | 119 | 117 | 125 | 159 |
| Inventory Days | 276 | 321 | 381 | 310 | 312 | 503 | 434 | 430 | 331 | 286 |
| Days Payable | 108 | 129 | 210 | 112 | 201 | 152 | 185 | 190 | 150 | 135 |
| Cash Conversion Cycle | 334 | 374 | 407 | 331 | 242 | 456 | 368 | 357 | 306 | 310 |
| Working Capital Days | 195 | 209 | 275 | 177 | 159 | 177 | 163 | 153 | 166 | 193 |
| ROCE % | 37% | 25% | 25% | 32% | 21% | 26% | 28% | 28% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
16h - Transcript of Q3 & Nine months FY26 Earnings call held on February 12, 2026
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
12 Feb - Q3 and nine-months FY26 earnings call audio hosted on company website (Feb 12, 2026).
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Announcement under Regulation 30 (LODR)-Newspaper Publication
12 Feb - Newspaper Publication cutouts Q3 - FY 2025-26
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Announcement under Regulation 30 (LODR)-Investor Presentation
11 Feb - Investor Presentation on Unaudited Standalone and Consolidated Financial Results for the Third Quarter and Nine Months ended on December 31, 2025.
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Disclosure Under Regulation 30(5) Of The SEBI (LODR) Regulations, 2015
11 Feb - Board approved modified KMP list (Sudhir Vaid, Ankur Vaid, Raviraj Karia, Paritosh Trivedi) on Feb 11, 2026.
Concalls
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT
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Aug 2025Transcript PPT
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Jun 2025Transcript PPT REC
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Feb 2025Transcript PPT
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT
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Jun 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT REC
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Sep 2023TranscriptPPT
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Sep 2023Transcript PPT
Business Profile[1]
Concord Biotech is a pharmaceutical company headquartered in Ahmedabad, Gujarat, specializing in Active Pharmaceutical Ingredients (APIs) and formulations. The company is engaged in development and manufacturing of niche fermentation-based APIs and finished dosage formulations for domestic and international markets.