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 ₹ 11,810 Cr.
- Current Price ₹ 490
- High / Low ₹ 633 / 414
- Stock P/E 26.9
- Book Value ₹ 119
- Dividend Yield 0.41 %
- 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 |
| Free Cash Flow | 48 | 16 | 151 | 272 | 111 | 497 | 412 |
| CFO/OP | 196% | 34% | 96% | 128% | 60% | 125% | 110% |
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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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
2d - Regulation 74(5) certificate filed for quarter ended March 31, 2026; no rematerialisation requests received.
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Intimation Of Agreement
1 Apr - Indegene Healthcare UK bought Trilogy Writing & Consulting business as going concern for GBP 190,679 on April 1, 2026.
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Closure of Trading Window
27 Mar - Trading window closed from April 1, 2026 until 48 hours after FY2026 results are disclosed.
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Clarification Letter
24 Mar - Confirms no undisclosed material events; replies on increased price/volume (24 March 2026).
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Clarification sought from Indegene Ltd
24 Mar - Exchange has sought clarification from Indegene Ltd on March 24, 2026, with reference to Movement in Volume.
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.