Indegene Ltd
Incorporated in 1998, Indegene Ltd provides
solutions consisting of analytics, technology
and commercial, medical, regulatory and
safety services to life science and health
care organizations[1]
- Market Cap ₹ 12,512 Cr.
- Current Price ₹ 520
- High / Low ₹ 682 / 485
- Stock P/E 59.8
- Book Value ₹ 81.7
- Dividend Yield 0.38 %
- ROCE 16.6 %
- ROE 12.6 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
Cons
- Earnings include an other income of Rs.107 Cr.
- Dividend payout has been low at 8.81% 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 282 | 334 | 511 | 837 | 1,006 | 1,046 | 1,094 | 1,116 | |
| 230 | 249 | 361 | 668 | 828 | 878 | 913 | 917 | |
| Operating Profit | 53 | 86 | 150 | 169 | 178 | 168 | 180 | 199 |
| OPM % | 19% | 26% | 29% | 20% | 18% | 16% | 17% | 18% |
| 12 | -24 | 30 | 28 | 37 | 50 | 90 | 107 | |
| Interest | 1 | 3 | 4 | 3 | 6 | 7 | 6 | 7 |
| Depreciation | 4 | 13 | 18 | 24 | 32 | 31 | 26 | 29 |
| Profit before tax | 59 | 46 | 159 | 170 | 177 | 181 | 238 | 270 |
| Tax % | 14% | 30% | 17% | 22% | 26% | 24% | 24% | |
| 51 | 32 | 132 | 133 | 130 | 138 | 181 | 209 | |
| EPS in Rs | 324.22 | 202.30 | 843.58 | 755.26 | 5.87 | 6.20 | 7.55 | 8.71 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 26% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 27% |
| 3 Years: | 9% |
| TTM: | 4% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 24% |
| 3 Years: | 10% |
| TTM: | 34% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -16% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 19% |
| 3 Years: | 14% |
| Last Year: | 13% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.31 | 0.30 | 0.30 | 0.40 | 44 | 44 | 48 | 48 |
| Reserves | 158 | -3 | 254 | 650 | 751 | 909 | 1,840 | 1,914 |
| 106 | 362 | 23 | 44 | 51 | 38 | 27 | 51 | |
| 57 | 72 | 96 | 156 | 191 | 228 | 234 | 229 | |
| Total Liabilities | 322 | 431 | 373 | 850 | 1,038 | 1,220 | 2,150 | 2,243 |
| 8 | 31 | 41 | 72 | 78 | 56 | 53 | 83 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 0 |
| Investments | 134 | 251 | 83 | 203 | 400 | 624 | 975 | 1,025 |
| 180 | 148 | 249 | 575 | 559 | 540 | 1,119 | 1,135 | |
| Total Assets | 322 | 431 | 373 | 850 | 1,038 | 1,220 | 2,150 | 2,243 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 62 | 90 | 53 | 38 | 82 | 176 | 129 | |
| -70 | -51 | -34 | -267 | -51 | -189 | -824 | |
| 15 | -18 | -37 | 245 | -17 | -16 | 717 | |
| Net Cash Flow | 8 | 20 | -18 | 16 | 14 | -29 | 22 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 65 | 65 | 125 | 152 | 145 | 132 | 140 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 65 | 65 | 125 | 152 | 145 | 132 | 140 |
| Working Capital Days | 16 | -12 | 76 | 103 | 113 | 104 | 121 |
| ROCE % | 28% | 49% | 36% | 24% | 18% | 17% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Restructuring
1 Jan - Two step-down subsidiaries amalgamated into Indegene Healthcare Canada Inc on Jan 01, 2026; projected FY25-26 revenue CAD 6,775,000.
-
Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
31 Dec - Dec 31, 2025: Grant of 508,368 RSUs at Rs.2; 4-year vesting, 75-day exercise window.
-
Announcement under Regulation 30 (LODR)-Acquisition
31 Dec - Indegene subsidiaries acquired 100% of Trilogy Canada on Dec 31, 2025 for EUR 329,014 cash.
-
Closure of Trading Window
29 Dec - Trading window closed from Jan 1, 2026 until 48 hours after Dec 31, 2025 quarter results.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 23 Dec
Concalls
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Nov 2025Transcript PPT
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Oct 2025Transcript PPT REC
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Aug 2025Transcript PPT
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May 2025Transcript PPT REC
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Mar 2025TranscriptAI SummaryPPT
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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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Aug 2024TranscriptAI SummaryPPT
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Jun 2024TranscriptPPTREC
Business Overview:[1]
IL is a digital-first healthcare and technology company. It helps bio pharmaceutical, emerging biotech and medical device companies to develop products and get them to market. Company brings together healthcare domain expertise, technology and an agile operating model to provide diverse solutions for patients and physicians.