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 ₹ 10,187 Cr.
- Current Price ₹ 424
- High / Low ₹ 633 / 414
- Stock P/E 52.5
- Book Value ₹ 81.6
- Dividend Yield 0.47 %
- 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 | 1,119 | |
| 230 | 249 | 361 | 668 | 828 | 878 | 913 | 934 | |
| Operating Profit | 53 | 86 | 150 | 169 | 178 | 168 | 180 | 185 |
| OPM % | 19% | 26% | 29% | 20% | 18% | 16% | 17% | 16% |
| 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 | 32 |
| Profit before tax | 59 | 46 | 159 | 170 | 177 | 181 | 238 | 253 |
| Tax % | 14% | 30% | 17% | 22% | 26% | 24% | 24% | |
| 51 | 32 | 132 | 133 | 130 | 138 | 181 | 194 | |
| EPS in Rs | 324.22 | 202.30 | 843.58 | 755.26 | 5.87 | 6.20 | 7.55 | 8.08 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 26% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 27% |
| 3 Years: | 9% |
| TTM: | 2% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 24% |
| 3 Years: | 10% |
| TTM: | 10% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -20% |
| 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% |
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
- Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 18 Mar
-
Clarification Letter
16 Mar - Indegene's March 16, 2026 reply to BSE: no undisclosed material information; volume increase due to market conditions.
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Clarification sought from Indegene Ltd
16 Mar - Exchange has sought clarification from Indegene Ltd on March 16, 2026, with reference to Movement in Volume.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 13 Mar
-
.Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015
12 Mar - CEO Manish Gupta's YouTube podcast released; disclosed under Reg 30; no UPSI.
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.