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 ₹ 12,931 Cr.
- Current Price ₹ 538
- High / Low ₹ 682 / 485
- Stock P/E 29.0
- Book Value ₹ 119
- Dividend Yield 0.37 %
- 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 | 3,041 | |
| 511 | 499 | 736 | 1,378 | 1,910 | 2,084 | 2,292 | 2,466 | |
| Operating Profit | 42 | 144 | 230 | 287 | 396 | 505 | 548 | 575 |
| OPM % | 8% | 22% | 24% | 17% | 17% | 20% | 19% | 19% |
| 7 | -102 | -3 | -21 | 58 | 79 | 94 | 105 | |
| Interest | 6 | 9 | 7 | 6 | 31 | 49 | 22 | 14 |
| Depreciation | 17 | 19 | 26 | 33 | 60 | 76 | 80 | 86 |
| Profit before tax | 26 | 14 | 195 | 226 | 363 | 459 | 539 | 581 |
| Tax % | 45% | 191% | 23% | 28% | 27% | 27% | 25% | |
| 14 | -12 | 149 | 163 | 266 | 337 | 407 | 446 | |
| EPS in Rs | 89.98 | -40.20 | 951.96 | 937.73 | 11.99 | 15.14 | 16.95 | 18.58 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 12% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 35% |
| 3 Years: | 19% |
| TTM: | 12% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 68% |
| 3 Years: | 29% |
| TTM: | 20% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -9% |
| 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% |
Documents
Announcements
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Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
10h - Postal ballot to appoint Neeraj Bharadwaj as Independent Director Jan 23, 2026–Jan 22, 2031; e-voting Dec 25, 2025–Jan 23, 2026.
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Announcement under Regulation 30 (LODR)-Change in Directorate
19 Dec - Appointed Neeraj Bharadwaj as independent director Jan 25, 2026–Jan 24, 2031; ESOP/RSU allotment approved.
- Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 19 Dec
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 26 Nov
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 14 Nov
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.