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 ₹ 11,043 Cr.
- Current Price ₹ 459
- High / Low ₹ 633 / 456
- Stock P/E 25.2
- Book Value ₹ 119
- Dividend Yield 0.44 %
- ROCE 24.8 %
- ROE 20.6 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 67.9% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 24.3%
Cons
* 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 553 | 643 | 966 | 1,665 | 2,306 | 2,590 | 2,839 | 3,263 | |
| 511 | 499 | 736 | 1,378 | 1,910 | 2,084 | 2,292 | 2,660 | |
| Operating Profit | 42 | 144 | 230 | 287 | 396 | 505 | 548 | 603 |
| OPM % | 8% | 22% | 24% | 17% | 17% | 20% | 19% | 18% |
| 7 | -102 | -3 | -21 | 58 | 79 | 94 | 87 | |
| Interest | 6 | 9 | 7 | 6 | 31 | 49 | 22 | 15 |
| Depreciation | 17 | 19 | 26 | 33 | 60 | 76 | 80 | 105 |
| Profit before tax | 26 | 14 | 195 | 226 | 363 | 459 | 539 | 569 |
| Tax % | 45% | 191% | 23% | 28% | 27% | 27% | 25% | |
| 14 | -12 | 149 | 163 | 266 | 337 | 407 | 439 | |
| EPS in Rs | 89.98 | -40.20 | 951.96 | 937.73 | 11.99 | 15.14 | 16.95 | 18.28 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 12% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 35% |
| 3 Years: | 19% |
| TTM: | 18% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 68% |
| 3 Years: | 29% |
| TTM: | 15% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -14% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 28% |
| 3 Years: | 24% |
| Last Year: | 21% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.31 | 0.31 | 0.31 | 0.35 | 44 | 44 | 48 | 48 |
| Reserves | 73 | -105 | 324 | 764 | 1,020 | 1,385 | 2,568 | 2,818 |
| 147 | 483 | 51 | 66 | 502 | 490 | 102 | 122 | |
| 108 | 222 | 220 | 524 | 638 | 627 | 609 | 588 | |
| Total Liabilities | 329 | 600 | 596 | 1,353 | 2,204 | 2,546 | 3,326 | 3,576 |
| 104 | 119 | 86 | 138 | 664 | 646 | 678 | 719 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 0 |
| Investments | 0 | 13 | 0 | 120 | 614 | 796 | 1,290 | 778 |
| 225 | 468 | 510 | 1,096 | 926 | 1,103 | 1,355 | 2,078 | |
| Total Assets | 329 | 600 | 596 | 1,353 | 2,204 | 2,546 | 3,326 | 3,576 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 65 | 22 | 172 | 297 | 130 | 508 | 442 | |
| -18 | -16 | -81 | -158 | -896 | -326 | -677 | |
| -21 | 136 | -132 | 233 | 333 | -66 | 288 | |
| Net Cash Flow | 25 | 143 | -40 | 373 | -433 | 115 | 52 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 60 | 127 | 108 | 97 | 102 | 91 | 97 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 60 | 127 | 108 | 97 | 102 | 91 | 97 |
| Working Capital Days | -7 | -5 | 45 | 11 | 41 | 27 | 39 |
| ROCE % | 37% | 55% | 46% | 33% | 29% | 25% |
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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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Acquisition
1 Mar - Indegene Healthcare UK to acquire DT UK (£2,001,000) and Trilogy UK (£702,348); completion by 31-Mar-2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
25 Feb - Investor meetings Mar 2 (Locus, virtual) and Mar 5 (Buoyant, in-person, Bengaluru).
- Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 20 Feb
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
16 Feb - Investor/analyst 1x1 meetings scheduled 19–25 Feb 2026 with mutual funds and conferences in Bangalore/Mumbai.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
9 Feb - Of Schedule of Investors/Analysts meetings Under SEBI (LODR) Regulations, 2015
Concalls
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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.