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 ₹ 12,039 Cr.
- Current Price ₹ 500
- High / Low ₹ 633 / 414
- Stock P/E 56.8
- Book Value ₹ 86.4
- Dividend Yield 0.40 %
- ROCE 14.3 %
- ROE 10.7 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 17.3%
- Debtor days have improved from 119 to 84.8 days.
Cons
- Company has a low return on equity of 12.0% over last 3 years.
- Working capital days have increased from 162 days to 261 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.
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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 282 | 334 | 511 | 837 | 1,006 | 1,046 | 1,094 | 1,221 | |
| 230 | 249 | 361 | 668 | 828 | 878 | 913 | 972 | |
| Operating Profit | 53 | 86 | 150 | 169 | 178 | 168 | 180 | 248 |
| OPM % | 19% | 26% | 29% | 20% | 18% | 16% | 17% | 20% |
| 12 | -24 | 30 | 28 | 37 | 50 | 90 | 78 | |
| Interest | 1 | 3 | 4 | 3 | 6 | 7 | 6 | 9 |
| Depreciation | 4 | 13 | 18 | 24 | 32 | 31 | 26 | 36 |
| Profit before tax | 59 | 46 | 159 | 170 | 177 | 181 | 238 | 281 |
| Tax % | 14% | 30% | 17% | 22% | 26% | 24% | 24% | 25% |
| 51 | 32 | 132 | 133 | 130 | 138 | 181 | 212 | |
| EPS in Rs | 324.22 | 202.30 | 843.58 | 755.26 | 5.87 | 6.20 | 7.55 | 8.80 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 26% | 26% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 19% |
| 3 Years: | 7% |
| TTM: | 12% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 18% |
| TTM: | 19% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -6% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 14% |
| 3 Years: | 12% |
| Last Year: | 11% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.31 | 0.30 | 0.30 | 0.40 | 44 | 44 | 48 | 48 |
| Reserves | 158 | -3 | 254 | 650 | 751 | 909 | 1,840 | 2,032 |
| 106 | 362 | 23 | 44 | 51 | 38 | 27 | 70 | |
| 57 | 72 | 96 | 156 | 191 | 228 | 234 | 332 | |
| Total Liabilities | 322 | 431 | 373 | 850 | 1,038 | 1,220 | 2,150 | 2,482 |
| 8 | 31 | 41 | 72 | 78 | 56 | 53 | 113 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 12 |
| Investments | 134 | 251 | 83 | 203 | 400 | 624 | 975 | 1,318 |
| 180 | 148 | 249 | 575 | 559 | 540 | 1,119 | 1,039 | |
| Total Assets | 322 | 431 | 373 | 850 | 1,038 | 1,220 | 2,150 | 2,482 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 62 | 90 | 53 | 38 | 82 | 176 | 129 | 346 | |
| -70 | -51 | -34 | -267 | -51 | -189 | -824 | -272 | |
| 15 | -18 | -37 | 245 | -17 | -16 | 717 | -63 | |
| Net Cash Flow | 8 | 20 | -18 | 16 | 14 | -29 | 22 | 11 |
| Free Cash Flow | 60 | 84 | 35 | 17 | 66 | 166 | 112 | 302 |
| CFO/OP | 145% | 122% | 52% | 44% | 70% | 134% | 111% | 159% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 65 | 65 | 125 | 152 | 145 | 132 | 140 | 85 |
| Inventory Days | ||||||||
| Days Payable | ||||||||
| Cash Conversion Cycle | 65 | 65 | 125 | 152 | 145 | 132 | 140 | 85 |
| Working Capital Days | 16 | -12 | 76 | 103 | 113 | 104 | 121 | 261 |
| ROCE % | 28% | 49% | 36% | 24% | 18% | 17% | 14% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|
| Active Clients Number |
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| Million Dollar Plus Clients (>$1M USD Revenue TTM) Number |
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| Total Employee Headcount Number |
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| Days Sales Outstanding (Net DSO) Days |
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| Voluntary Attrition (LTM) Percentage |
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| Delivery Employees with Healthcare Expertise Percentage |
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Extracted by Screener AI
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Newspaper Publication 1d
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
2d - Audio recording of Indegene's Q4 and FY26 earnings call released on April 30, 2026.
- Intimation Of Outcome Of Board Meeting 2d
-
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
2d - Indegene confirms it is not a Large Corporate under SEBI circular on April 29, 2026.
-
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
2d - CARE monitoring report for quarter ended March 31, 2026 shows nil deviation and ₹742.74 crore utilized.
Concalls
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Apr 2026TranscriptAI SummaryPPT
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Feb 2026Transcript PPT REC
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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.