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Indegene Overview

Indegene Limited, founded in 1998 by Dr. Rajesh Nair, Manish Gupta, Gaurav Kapoor, Dr. Sanjay Parikh, and Anand Kiran, is a digital-first life sciences commercialization company. Indegene’s vision is to make healthcare future-ready by integrating domain expertise with technology. Company's portfolio includes a range of solutions to develop and market products effectively and efficiently. With a global clientele that includes the top 20 pharmaceutical companies, Indegene is recognized for its domain expertise and technology-driven approac...Read More

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Indegene Key Financials

Market Cap ₹12685 Cr.

Stock P/E 31.2

P/B 4.4

Current Price ₹527.9

Book Value ₹ 119.2

Face Value 2

52W High ₹681.1

Dividend Yield 0.38%

52W Low ₹ 485.2

Indegene Share Price

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Volume
Price

Indegene Quarterly Price

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Indegene Peer Comparison

Indegene Quarterly Results

#(Fig in Cr.) Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
Net Sales 608 636 673 673 677 687 720 756 761 804
Other Income 29 12 13 23 23 21 38 26 22 20
Total Income 636 647 687 696 699 708 758 781 783 824
Total Expenditure 511 515 525 534 548 561 589 608 606 664
Operating Profit 125 133 162 162 151 148 170 173 177 160
Interest 13 12 12 12 12 4 3 3 4 4
Depreciation 20 20 18 19 20 19 20 21 22 23
Exceptional Income / Expenses 0 0 0 2 0 0 0 0 0 0
Profit Before Tax 93 101 132 134 120 124 146 149 152 133
Provision for Tax 24 26 34 39 32 32 37 32 36 31
Profit After Tax 68 75 99 95 88 92 110 118 116 102
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 68 75 99 95 88 92 110 118 116 102
Adjusted Earnings Per Share 3.1 3.4 4.5 4.3 3.7 3.8 4.6 4.9 4.9 4.3

Indegene Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 234 344 472 475 553 643 966 1665 2306 2590 2839 3041
Other Income 4 3 1 3 7 4 31 26 58 76 107 106
Total Income 237 347 473 478 560 646 997 1690 2364 2666 2947 3146
Total Expenditure 204 291 402 447 511 499 736 1378 1910 2084 2305 2467
Operating Profit 34 56 71 31 49 147 261 313 454 582 642 680
Interest 2 2 10 8 6 9 7 6 31 49 22 14
Depreciation 7 15 19 12 17 19 26 33 60 76 80 86
Exceptional Income / Expenses 0 0 0 0 0 -44 3 -47 0 2 0 0
Profit Before Tax 24 38 42 11 26 75 231 226 363 459 539 580
Provision for Tax 5 3 3 7 12 26 46 64 97 122 133 136
Profit After Tax 18 35 39 4 14 49 186 163 266 337 407 446
Adjustments 0 0 0 0 0 -56 -36 2 0 0 0 0
Profit After Adjustments 18 35 39 4 14 -6 149 165 266 337 407 446
Adjusted Earnings Per Share 0.9 1.8 2 0.2 0.7 -0.3 7.6 7.5 12 15.2 17 18.7

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 10% 19% 35% 28%
Operating Profit CAGR 10% 27% 34% 34%
PAT CAGR 21% 36% 53% 37%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -10% NA% NA% NA%
ROE Average 20% 26% 57% 40%
ROCE Average 25% 30% 40% 33%

Indegene Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 55 90 131 136 152 -105 325 764 1064 1429 2616
Minority's Interest 0 0 0 0 0 89 9 0 0 0 0
Borrowings 2 2 23 1 8 341 18 11 394 333 0
Other Non-Current Liabilities 2 5 7 7 8 -10 9 69 190 101 56
Total Current Liabilities 111 93 148 164 158 247 199 440 489 611 565
Total Liabilities 170 190 310 308 326 562 559 1284 2137 2475 3236
Fixed Assets 29 33 81 75 104 92 86 138 664 646 678
Other Non-Current Assets 11 20 46 60 37 52 14 17 24 38 29
Total Current Assets 130 137 182 174 185 418 459 1130 1449 1791 2530
Total Assets 170 190 310 308 326 562 559 1284 2137 2475 3236

Indegene Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 7 14 8 15 6 31 174 133 506 74 189
Cash Flow from Operating Activities 13 29 27 24 65 22 172 297 130 508 442
Cash Flow from Investing Activities -6 -17 -77 -21 -19 -19 -24 -160 -893 -327 -683
Cash Flow from Financing Activities -0 -18 57 -12 -21 136 -132 233 333 -66 288
Net Cash Inflow / Outflow 7 -6 7 -9 25 140 16 370 -430 114 47
Closing Cash & Cash Equivalent 14 8 15 6 31 174 133 506 74 189 241

Indegene Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 0.94 1.82 1.99 0.2 0.71 -0.32 7.58 7.45 12.01 15.17 16.98
CEPS(Rs) 1.33 2.6 2.96 0.82 1.56 3.47 10.71 8.88 14.71 18.59 20.33
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 2
Book NAV/Share(Rs) -1.24 0.55 2.61 2.79 3.55 -5.55 16.23 34.28 47.22 62.96 107.7
Core EBITDA Margin(%) 12.71 15.27 14.87 5.93 7.56 22.34 23.86 17.24 17.17 19.52 18.82
EBIT Margin(%) 11.21 11.87 11 3.93 5.78 13.08 24.67 13.96 17.1 19.62 19.77
Pre Tax Margin(%) 10.2 11.15 8.96 2.28 4.65 11.71 23.95 13.61 15.74 17.71 18.99
PAT Margin (%) 7.85 10.31 8.28 0.84 2.55 7.65 19.22 9.78 11.54 13 14.32
Cash Profit Margin (%) 11.04 14.73 12.33 3.39 5.55 10.65 21.86 11.79 14.13 15.94 17.15
ROA(%) 10.77 19.68 15.64 1.3 4.45 11.08 33.13 17.66 15.56 14.6 14.24
ROE(%) 0 0 126.12 7.55 22.54 0 176.32 30.2 29.5 27.56 20.45
ROCE(%) 31.75 43.74 33.32 8.93 14.82 29.65 68.54 41.09 35.2 30.88 25.24
Receivable days 81.1 66.26 68.79 83.08 66.52 75.45 87.03 79.96 85.94 90.91 89.95
Inventory Days 0 0 0 0 0 0 0 0 0 0 0
Payable days 0 0 0 0 0 0 0 0 0 0 0
PER(x) 0 0 0 0 0 0 0 0 0 0 34.05
Price/Book(x) 0 0 0 0 0 0 0 0 0 0 5.37
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0.35
EV/Net Sales(x) 0.39 0.24 0.29 0.3 0.2 0.42 -0.12 -0.3 0.15 0.1 4.75
EV/Core EBITDA(x) 2.69 1.48 1.93 4.68 2.28 1.84 -0.44 -1.59 0.78 0.44 21
Net Sales Growth(%) 0 47.21 37.33 0.65 16.45 16.2 50.3 72.27 38.54 12.29 9.64
EBIT Growth(%) 0 55.83 27.31 -64.04 71.17 163.05 183.49 -2.5 69.62 28.84 10.49
PAT Growth(%) 0 93.33 10.29 -89.74 251.46 249.16 277.4 -12.31 63.43 26.53 20.79
EPS Growth(%) 0 92.73 9.47 -89.76 250.6 -144.74 2471.51 -1.66 61.24 26.25 11.96
Debt/Equity(x) 0.5 0.16 0.59 0.56 0.46 -4.12 0.08 0.02 0.38 0.29 0
Current Ratio(x) 1.17 1.47 1.23 1.06 1.17 1.69 2.3 2.57 2.96 2.93 4.48
Quick Ratio(x) 1.17 1.47 1.23 1.06 1.17 1.69 2.3 2.57 2.96 2.93 4.48
Interest Cover(x) 11.03 16.61 5.38 2.37 5.11 9.56 34.27 38.98 12.6 10.28 25.51
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0 0

Indegene Shareholding Pattern

# Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
Promoter 0 0 0 0 0 0 0
FII 3.56 3.79 4.82 5.03 5.24 10.05 11.3
DII 4.98 3.84 3.17 3.97 4.96 7.2 6.95
Public 91.46 92.37 92.01 91 89.8 82.75 81.75
Others 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100

Indegene News

Indegene Pros & Cons

Pros

  • Company has delivered good profit growth of 52% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26%
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 0%.
  • Stock is trading at 4.4 times its book value.
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