Indegene Ltd.

•

₹ 567.80.19%

2026-08-21

indegene.comBSE: 544172NSE: INDGN

Market Cap₹ 13,593 Cr.

Current Price₹ 567

High / Low₹ 597 / 414

Stock P/E33.9

Book Value₹ 133

Price to Book3.38

Dividend Yield0.40 %

ROCE18.9 %

ROE14.1 %

Face Value₹ 2

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Commercial: 70.1% • Medical: 26.5% • Other: 3.4%

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 25.0%
Company has a good return on equity (ROE) track record: 3 Years ROE 20.7%
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 29.4% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.40x)

CONS

Recent results are weak - TTM profit is down 14.3% versus prior year
Recurring exceptional / one-off items are inflating headline profit
Though reporting repeated profits, the company pays out little dividend (13.5%)
Expensive relative to growth - PEG of 2.3

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

HealthcareBusiness ServicesBusiness Support

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	PFOCUS	279.00	187.99	21727.79	0.00	-457.78	-514.43	12668.15	1196.88	2.74	23.76
2.	SAGILITY	42.46	20.02	19876.92	0.35	216.81	45.94	1963.48	27.59	13.82	22.32
3.	SYNGENE	397.10	72.53	16029.70	0.31	-9.00	-110.38	736.00	-15.84	9.48	12.34
4.	IGIL	338.55	24.00	14630.77	1.48	165.74	30.98	370.78	23.22	77.00	60.35
5.	INDGN	564.25	33.91	13592.86	0.40	1162.00	898.28	10631.00	1297.34	18.92	16.39
6.	NESCO	1032.45	17.63	7274.64	0.68	93.05	5.00	251.62	31.05	19.23	46.86
7.	LEAPIND	160.55	113.45	7072.81	0.00	—	—	—	—	9.32	—
8.	SPARC	193.15	3.96	6268.13	0.00	-20.78	59.94	39.92	314.11	163.94	-85.17
9.	SMARTWORKS	500.70	205.47	5727.06	0.00	13.15	413.27	546.25	44.05	52.26	63.33
10.	LATENTVIEW	276.50	29.28	5721.48	0.00	47.10	-6.84	286.88	21.55	16.69	19.76
11.	JUSTDIAL	659.80	15.46	5611.54	0.00	115.74	38.44	270.27	16.23	12.88	26.17
12.	INDIQUBE	191.25	0.00	4054.45	0.00	-23.88	35.03	422.69	36.66	54.58	61.15

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	608	636	673	673	676	687	720	756	761	804	942	1,003	1,063
	511	515	524	534	548	561	589	608	606	664	783	840	939
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	28	12	13	23	22	21	38	26	22	20	19	11	29
Interest	13	12	12	12	12	4	3	3	4	4	5	7	6
Depreciation	20	20	18	18	20	19	20	21	22	23	40	42	44
	92	101	132	134	120	124	146	149	152	133	135	105	153
Tax %	26.05%	25.45%	25.32%	28.99%	26.67%	26.11%	25.02%	21.23%	23.47%	23.29%	23.61%	24.17%	23.90%
Net Profit	0	0	0	0	88	92	110	118	116	102	103	80	116
	3	3	4	4	4	4	5	5	5	4	4	3	0
Equity Capital	44	44	44	44	48	48	48	48	48	48	48	48	48
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	44	44	44	44	48	48	48	48	48	48	48	48	48
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Jun 2023

: 608
: 511
Operating Profit: —
OPM %: —
Other Income: 28
Interest: 13
Depreciation: 20
: 92
Tax %: 26.05%
Net Profit: 0
: 3
Equity Capital: 44
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 44
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2023

: 636
: 515
Operating Profit: —
OPM %: —
Other Income: 12
Interest: 12
Depreciation: 20
: 101
Tax %: 25.45%
Net Profit: 0
: 3
Equity Capital: 44
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 44
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 673
: 524
Operating Profit: —
OPM %: —
Other Income: 13
Interest: 12
Depreciation: 18
: 132
Tax %: 25.32%
Net Profit: 0
: 4
Equity Capital: 44
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 44
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 673
: 534
Operating Profit: —
OPM %: —
Other Income: 23
Interest: 12
Depreciation: 18
: 134
Tax %: 28.99%
Net Profit: 0
: 4
Equity Capital: 44
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 44
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 676
: 548
Operating Profit: —
OPM %: —
Other Income: 22
Interest: 12
Depreciation: 20
: 120
Tax %: 26.67%
Net Profit: 88
: 4
Equity Capital: 48
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 48
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 687
: 561
Operating Profit: —
OPM %: —
Other Income: 21
Interest: 4
Depreciation: 19
: 124
Tax %: 26.11%
Net Profit: 92
: 4
Equity Capital: 48
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 48
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 720
: 589
Operating Profit: —
OPM %: —
Other Income: 38
Interest: 3
Depreciation: 20
: 146
Tax %: 25.02%
Net Profit: 110
: 5
Equity Capital: 48
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 48
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 756
: 608
Operating Profit: —
OPM %: —
Other Income: 26
Interest: 3
Depreciation: 21
: 149
Tax %: 21.23%
Net Profit: 118
: 5
Equity Capital: 48
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 48
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 761
: 606
Operating Profit: —
OPM %: —
Other Income: 22
Interest: 4
Depreciation: 22
: 152
Tax %: 23.47%
Net Profit: 116
: 5
Equity Capital: 48
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 48
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 804
: 664
Operating Profit: —
OPM %: —
Other Income: 20
Interest: 4
Depreciation: 23
: 133
Tax %: 23.29%
Net Profit: 102
: 4
Equity Capital: 48
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 48
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 942
: 783
Operating Profit: —
OPM %: —
Other Income: 19
Interest: 5
Depreciation: 40
: 135
Tax %: 23.61%
Net Profit: 103
: 4
Equity Capital: 48
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 48
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 1,003
: 840
Operating Profit: —
OPM %: —
Other Income: 11
Interest: 7
Depreciation: 42
: 105
Tax %: 24.17%
Net Profit: 80
: 3
Equity Capital: 48
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 48
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 1,063
: 939
Operating Profit: —
OPM %: —
Other Income: 29
Interest: 6
Depreciation: 44
: 153
Tax %: 23.90%
Net Profit: 116
: 0
Equity Capital: 48
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 48
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	472	475	553	643	966	1,665	2,306	2,590	2,839	3,510	3,813
	402	447	511	499	736	1,378	1,910	2,084	2,305	2,892	3,225
Operating Profit	71	31	49	147	261	313	454	582	642	691	—
OPM %	15	6	9	23	27	19	20	22	23	20	—
Other Income	1	3	7	4	31	26	58	76	107	72	79
Interest	10	8	6	9	7	6	31	49	22	19	22
Depreciation	19	12	17	19	26	33	60	76	80	126	149
	42	11	26	75	231	226	363	459	539	525	526
Tax %	8	63	45	35	20	28	27	27	25	24	24
Net Profit	39	4	14	49	186	163	266	337	407	401	401
EPS	211	15	50	-40	7	7	12	15	17	17	—
Dividend Payout %	0	0	0	0	0	0	0	0	12	13	—
Minority Interest	0	0	0	6	-0	2	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	2	0	1	-0	8	7	12	15	17	17	—
Minority Interest	0	0	0	6	-0	2	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	2	0	1	-0	8	7	12	15	17	17	—

Mar 2017

: 472
: 402
Operating Profit: 71
OPM %: 15
Other Income: 1
Interest: 10
Depreciation: 19
: 42
Tax %: 8
Net Profit: 39
EPS: 211
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2018

: 475
: 447
Operating Profit: 31
OPM %: 6
Other Income: 3
Interest: 8
Depreciation: 12
: 11
Tax %: 63
Net Profit: 4
EPS: 15
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 0

Mar 2019

: 553
: 511
Operating Profit: 49
OPM %: 9
Other Income: 7
Interest: 6
Depreciation: 17
: 26
Tax %: 45
Net Profit: 14
EPS: 50
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1

Mar 2020

: 643
: 499
Operating Profit: 147
OPM %: 23
Other Income: 4
Interest: 9
Depreciation: 19
: 75
Tax %: 35
Net Profit: 49
EPS: -40
Dividend Payout %: 0
Minority Interest: 6
Share of Associates: 0
Adjusted EPS: -0
Minority Interest: 6
Share of Associates: 0
Adjusted EPS: -0

Mar 2021

: 966
: 736
Operating Profit: 261
OPM %: 27
Other Income: 31
Interest: 7
Depreciation: 26
: 231
Tax %: 20
Net Profit: 186
EPS: 7
Dividend Payout %: 0
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 8
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 8

Mar 2022

: 1,665
: 1,378
Operating Profit: 313
OPM %: 19
Other Income: 26
Interest: 6
Depreciation: 33
: 226
Tax %: 28
Net Profit: 163
EPS: 7
Dividend Payout %: 0
Minority Interest: 2
Share of Associates: 0
Adjusted EPS: 7
Minority Interest: 2
Share of Associates: 0
Adjusted EPS: 7

Mar 2023

: 2,306
: 1,910
Operating Profit: 454
OPM %: 20
Other Income: 58
Interest: 31
Depreciation: 60
: 363
Tax %: 27
Net Profit: 266
EPS: 12
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 12
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 12

Mar 2024

: 2,590
: 2,084
Operating Profit: 582
OPM %: 22
Other Income: 76
Interest: 49
Depreciation: 76
: 459
Tax %: 27
Net Profit: 337
EPS: 15
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 15
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 15

Mar 2025

: 2,839
: 2,305
Operating Profit: 642
OPM %: 23
Other Income: 107
Interest: 22
Depreciation: 80
: 539
Tax %: 25
Net Profit: 407
EPS: 17
Dividend Payout %: 12
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 17
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 17

Mar 2026

: 3,510
: 2,892
Operating Profit: 691
OPM %: 20
Other Income: 72
Interest: 19
Depreciation: 126
: 525
Tax %: 24
Net Profit: 401
EPS: 17
Dividend Payout %: 13
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 17
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 17

TTM

: 3,813
: 3,225
Operating Profit: —
OPM %: —
Other Income: 79
Interest: 22
Depreciation: 149
: 526
Tax %: 24
Net Profit: 401
EPS: —
Dividend Payout %: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: 26%
5 Years:: 29%
3 Years:: 15%

COMPOUNDED PROFIT GROWTH

10 Years:: 27%
5 Years:: 22%
3 Years:: 15%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -2%

RETURN ON EQUITY

10 Years:: 45%
5 Years:: 24%
3 Years:: 21%
Last Year:: 14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
	0	0	0	0	0	0	44	44	48	48
	51	55	70	-110	320	758	1,002	1,353	2,532	3,044
	42	36	61	205	7	7	0	10	0	0
Trade Payables	47	38	47	55	50	74	73	118	93	181
	170	179	149	411	182	445	1,018	949	563	1,270
Total Liabilities	310	308	326	562	559	1,284	2,137	2,475	3,236	4,544
ASSETS	-	-	-	-	-	-	-	-	-	-
	81	75	104	119	86	138	664	646	678	1,812
Capital Work in Progress	0	0	0	0	0	0	0	0	4	12
	1	0	0	13	0	120	614	796	1,290	1,100
	0	0	0	0	0	0	0	648	751	982
Cash & Bank	18	9	37	180	140	517	86	191	375	382
	210	224	185	249	333	509	773	194	139	257
Total Assets	310	308	326	562	559	1,284	2,137	2,475	3,236	4,544
Total Debt	76	75	69	451	25	18	394	403	0	0
Net Working Capital	34	10	26	171	260	690	960	1,180	1,966	1,532
Contingent Liabilities	0	0	0	0	0	0	10	1	0	0
Book Value per Share	328.52	351.81	447.60	-699.60	2045.39	4319.87	47.22	62.96	107.70	128.59
Face Value	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00
Total Debt	76	75	69	451	25	18	394	403	0	0
Net Working Capital	34	10	26	171	260	690	960	1,180	1,966	1,532
Contingent Liabilities	0	0	0	0	0	0	10	1	0	0
Book Value per Share	328.52	351.81	447.60	-699.60	2045.39	4319.87	47.22	62.96	107.70	128.59
Face Value	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00

Mar 2017

: 0
: 51
: 42
Trade Payables: 47
: 170
Total Liabilities: 310
: 81
Capital Work in Progress: 0
: 1
: 0
Cash & Bank: 18
: 210
Total Assets: 310
Total Debt: 76
Net Working Capital: 34
Contingent Liabilities: 0
Book Value per Share: 328.52
Face Value: 2.00
Total Debt: 76
Net Working Capital: 34
Contingent Liabilities: 0
Book Value per Share: 328.52
Face Value: 2.00

Mar 2018

: 0
: 55
: 36
Trade Payables: 38
: 179
Total Liabilities: 308
: 75
Capital Work in Progress: 0
: 0
: 0
Cash & Bank: 9
: 224
Total Assets: 308
Total Debt: 75
Net Working Capital: 10
Contingent Liabilities: 0
Book Value per Share: 351.81
Face Value: 2.00
Total Debt: 75
Net Working Capital: 10
Contingent Liabilities: 0
Book Value per Share: 351.81
Face Value: 2.00

Mar 2019

: 0
: 70
: 61
Trade Payables: 47
: 149
Total Liabilities: 326
: 104
Capital Work in Progress: 0
: 0
: 0
Cash & Bank: 37
: 185
Total Assets: 326
Total Debt: 69
Net Working Capital: 26
Contingent Liabilities: 0
Book Value per Share: 447.60
Face Value: 2.00
Total Debt: 69
Net Working Capital: 26
Contingent Liabilities: 0
Book Value per Share: 447.60
Face Value: 2.00

Mar 2020

: 0
: -110
: 205
Trade Payables: 55
: 411
Total Liabilities: 562
: 119
Capital Work in Progress: 0
: 13
: 0
Cash & Bank: 180
: 249
Total Assets: 562
Total Debt: 451
Net Working Capital: 171
Contingent Liabilities: 0
Book Value per Share: -699.60
Face Value: 2.00
Total Debt: 451
Net Working Capital: 171
Contingent Liabilities: 0
Book Value per Share: -699.60
Face Value: 2.00

Mar 2021

: 0
: 320
: 7
Trade Payables: 50
: 182
Total Liabilities: 559
: 86
Capital Work in Progress: 0
: 0
: 0
Cash & Bank: 140
: 333
Total Assets: 559
Total Debt: 25
Net Working Capital: 260
Contingent Liabilities: 0
Book Value per Share: 2045.39
Face Value: 2.00
Total Debt: 25
Net Working Capital: 260
Contingent Liabilities: 0
Book Value per Share: 2045.39
Face Value: 2.00

Mar 2022

: 0
: 758
: 7
Trade Payables: 74
: 445
Total Liabilities: 1,284
: 138
Capital Work in Progress: 0
: 120
: 0
Cash & Bank: 517
: 509
Total Assets: 1,284
Total Debt: 18
Net Working Capital: 690
Contingent Liabilities: 0
Book Value per Share: 4319.87
Face Value: 2.00
Total Debt: 18
Net Working Capital: 690
Contingent Liabilities: 0
Book Value per Share: 4319.87
Face Value: 2.00

Mar 2023

: 44
: 1,002
: 0
Trade Payables: 73
: 1,018
Total Liabilities: 2,137
: 664
Capital Work in Progress: 0
: 614
: 0
Cash & Bank: 86
: 773
Total Assets: 2,137
Total Debt: 394
Net Working Capital: 960
Contingent Liabilities: 10
Book Value per Share: 47.22
Face Value: 2.00
Total Debt: 394
Net Working Capital: 960
Contingent Liabilities: 10
Book Value per Share: 47.22
Face Value: 2.00

Mar 2024

: 44
: 1,353
: 10
Trade Payables: 118
: 949
Total Liabilities: 2,475
: 646
Capital Work in Progress: 0
: 796
: 648
Cash & Bank: 191
: 194
Total Assets: 2,475
Total Debt: 403
Net Working Capital: 1,180
Contingent Liabilities: 1
Book Value per Share: 62.96
Face Value: 2.00
Total Debt: 403
Net Working Capital: 1,180
Contingent Liabilities: 1
Book Value per Share: 62.96
Face Value: 2.00

Mar 2025

: 48
: 2,532
: 0
Trade Payables: 93
: 563
Total Liabilities: 3,236
: 678
Capital Work in Progress: 4
: 1,290
: 751
Cash & Bank: 375
: 139
Total Assets: 3,236
Total Debt: 0
Net Working Capital: 1,966
Contingent Liabilities: 0
Book Value per Share: 107.70
Face Value: 2.00
Total Debt: 0
Net Working Capital: 1,966
Contingent Liabilities: 0
Book Value per Share: 107.70
Face Value: 2.00

Mar 2026

: 48
: 3,044
: 0
Trade Payables: 181
: 1,270
Total Liabilities: 4,544
: 1,812
Capital Work in Progress: 12
: 1,100
: 982
Cash & Bank: 382
: 257
Total Assets: 4,544
Total Debt: 0
Net Working Capital: 1,532
Contingent Liabilities: 0
Book Value per Share: 128.59
Face Value: 2.00
Total Debt: 0
Net Working Capital: 1,532
Contingent Liabilities: 0
Book Value per Share: 128.59
Face Value: 2.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	27	24	65	22	172	297	130	508	442	651
Cash from Investing	-77	-21	-19	-18	-24	-160	-893	-327	-683	-512
Cash from Financing	57	-12	-21	136	-132	233	333	-66	288	-83
	7	-9	25	140	16	370	-430	114	47	56
Free Cash Flow	-39	17	18	-42	172	217	-462	376	338	-616
OCF / Net Profit	0.70	5.88	4.58	0.46	0.93	1.82	0.49	1.51	1.09	1.62
Cumulative 5-Year FCF	0	0	0	0	126	382	-97	261	641	-147
OCF / Net Profit	0.70	5.88	4.58	0.46	0.93	1.82	0.49	1.51	1.09	1.62
Cumulative 5-Year FCF	0	0	0	0	126	382	-97	261	641	-147

Mar 2017

: 27
Cash from Investing: -77
Cash from Financing: 57
: 7
Free Cash Flow: -39
OCF / Net Profit: 0.70
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.70
Cumulative 5-Year FCF: 0

Mar 2018

: 24
Cash from Investing: -21
Cash from Financing: -12
: -9
Free Cash Flow: 17
OCF / Net Profit: 5.88
Cumulative 5-Year FCF: 0
OCF / Net Profit: 5.88
Cumulative 5-Year FCF: 0

Mar 2019

: 65
Cash from Investing: -19
Cash from Financing: -21
: 25
Free Cash Flow: 18
OCF / Net Profit: 4.58
Cumulative 5-Year FCF: 0
OCF / Net Profit: 4.58
Cumulative 5-Year FCF: 0

Mar 2020

: 22
Cash from Investing: -18
Cash from Financing: 136
: 140
Free Cash Flow: -42
OCF / Net Profit: 0.46
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.46
Cumulative 5-Year FCF: 0

Mar 2021

: 172
Cash from Investing: -24
Cash from Financing: -132
: 16
Free Cash Flow: 172
OCF / Net Profit: 0.93
Cumulative 5-Year FCF: 126
OCF / Net Profit: 0.93
Cumulative 5-Year FCF: 126

Mar 2022

: 297
Cash from Investing: -160
Cash from Financing: 233
: 370
Free Cash Flow: 217
OCF / Net Profit: 1.82
Cumulative 5-Year FCF: 382
OCF / Net Profit: 1.82
Cumulative 5-Year FCF: 382

Mar 2023

: 130
Cash from Investing: -893
Cash from Financing: 333
: -430
Free Cash Flow: -462
OCF / Net Profit: 0.49
Cumulative 5-Year FCF: -97
OCF / Net Profit: 0.49
Cumulative 5-Year FCF: -97

Mar 2024

: 508
Cash from Investing: -327
Cash from Financing: -66
: 114
Free Cash Flow: 376
OCF / Net Profit: 1.51
Cumulative 5-Year FCF: 261
OCF / Net Profit: 1.51
Cumulative 5-Year FCF: 261

Mar 2025

: 442
Cash from Investing: -683
Cash from Financing: 288
: 47
Free Cash Flow: 338
OCF / Net Profit: 1.09
Cumulative 5-Year FCF: 641
OCF / Net Profit: 1.09
Cumulative 5-Year FCF: 641

Mar 2026

: 651
Cash from Investing: -512
Cash from Financing: -83
: 56
Free Cash Flow: -616
OCF / Net Profit: 1.62
Cumulative 5-Year FCF: -147
OCF / Net Profit: 1.62
Cumulative 5-Year FCF: -147

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE	-	-	-	-	-	-	-	-	-	-
EPS (₹)	250.68	25.67	89.99	-40.26	954.66	938.81	12.01	15.17	16.98	16.68
Book Value (₹)	328.52	351.81	447.60	-699.60	2045.39	4319.87	47.22	62.96	107.70	128.59
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.00	2.25
Cash EPS (₹)	2.96	0.82	1.56	3.47	10.71	8.88	14.71	18.59	20.33	21.93
PROFITABILITY	-	-	-	-	-	-	-	-	-	-
Operating Margin %	15.05%	6.47%	8.78%	22.88%	27.03%	18.79%	19.69%	19.52%	18.82%	17.63%
Net Margin %	8.28%	0.84%	2.55%	7.65%	19.22%	9.78%	11.54%	13.00%	14.32%	11.43%
ROE %	126.12%	7.55%	22.54%	0.00%	176.32%	30.20%	29.50%	27.56%	20.45%	14.14%
ROCE %	33.32%	8.93%	14.82%	29.65%	68.54%	41.09%	35.20%	30.88%	25.24%	18.92%
	15.64%	1.30%	4.45%	11.08%	33.13%	17.66%	15.56%	14.60%	14.24%	10.31%
EFFICIENCY	-	-	-	-	-	-	-	-	-	-
Debtor Days	69	83	67	75	87	80	86	91	90	90
Inventory Days	0	0	0	0	0	0	0	0	0	0
Payable Days	0	0	0	0	0	0	0	0	0	0
	69	83	67	75	87	80	86	91	90	90
FINANCIAL HEALTH	-	-	-	-	-	-	-	-	-	-
Debt to Equity (x)	0.59x	0.56x	0.46x	-4.12x	0.08x	0.02x	0.38x	0.29x	0.00x	0.00x
Interest Coverage (x)	5.38x	2.37x	5.11x	9.56x	34.27x	38.98x	12.60x	10.28x	25.51x	28.20x
	1.23x	1.06x	1.17x	1.69x	2.30x	2.57x	2.96x	2.93x	4.48x	2.41x
GROWTH	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	37.33%	0.65%	16.45%	16.20%	50.30%	72.27%	38.54%	12.29%	9.64%	23.64%
Operating Profit Growth %	26.92%	-56.71%	57.92%	202.82%	77.55%	19.77%	45.17%	28.10%	10.28%	7.72%
Net Profit Growth %	10.29%	-89.74%	251.46%	249.16%	277.40%	-12.31%	63.43%	26.53%	20.79%	-1.38%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	26.25%	11.96%	-1.79%
VALUATION	-	-	-	-	-	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	34.05x	26.06x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	5.37x	3.38x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.35%	0.52%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.44x	21.00x	14.57x

Mar 2017

EPS (₹): 250.68
Book Value (₹): 328.52
Dividend per Share (₹): 0.00
Cash EPS (₹): 2.96
Operating Margin %: 15.05%
Net Margin %: 8.28%
ROE %: 126.12%
ROCE %: 33.32%
: 15.64%
Debtor Days: 69
Inventory Days: 0
Payable Days: 0
: 69
Debt to Equity (x): 0.59x
Interest Coverage (x): 5.38x
: 1.23x
Revenue Growth %: 37.33%
Operating Profit Growth %: 26.92%
Net Profit Growth %: 10.29%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2018

EPS (₹): 25.67
Book Value (₹): 351.81
Dividend per Share (₹): 0.00
Cash EPS (₹): 0.82
Operating Margin %: 6.47%
Net Margin %: 0.84%
ROE %: 7.55%
ROCE %: 8.93%
: 1.30%
Debtor Days: 83
Inventory Days: 0
Payable Days: 0
: 83
Debt to Equity (x): 0.56x
Interest Coverage (x): 2.37x
: 1.06x
Revenue Growth %: 0.65%
Operating Profit Growth %: -56.71%
Net Profit Growth %: -89.74%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2019

EPS (₹): 89.99
Book Value (₹): 447.60
Dividend per Share (₹): 0.00
Cash EPS (₹): 1.56
Operating Margin %: 8.78%
Net Margin %: 2.55%
ROE %: 22.54%
ROCE %: 14.82%
: 4.45%
Debtor Days: 67
Inventory Days: 0
Payable Days: 0
: 67
Debt to Equity (x): 0.46x
Interest Coverage (x): 5.11x
: 1.17x
Revenue Growth %: 16.45%
Operating Profit Growth %: 57.92%
Net Profit Growth %: 251.46%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2020

EPS (₹): -40.26
Book Value (₹): -699.60
Dividend per Share (₹): 0.00
Cash EPS (₹): 3.47
Operating Margin %: 22.88%
Net Margin %: 7.65%
ROE %: 0.00%
ROCE %: 29.65%
: 11.08%
Debtor Days: 75
Inventory Days: 0
Payable Days: 0
: 75
Debt to Equity (x): -4.12x
Interest Coverage (x): 9.56x
: 1.69x
Revenue Growth %: 16.20%
Operating Profit Growth %: 202.82%
Net Profit Growth %: 249.16%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2021

EPS (₹): 954.66
Book Value (₹): 2045.39
Dividend per Share (₹): 0.00
Cash EPS (₹): 10.71
Operating Margin %: 27.03%
Net Margin %: 19.22%
ROE %: 176.32%
ROCE %: 68.54%
: 33.13%
Debtor Days: 87
Inventory Days: 0
Payable Days: 0
: 87
Debt to Equity (x): 0.08x
Interest Coverage (x): 34.27x
: 2.30x
Revenue Growth %: 50.30%
Operating Profit Growth %: 77.55%
Net Profit Growth %: 277.40%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 938.81
Book Value (₹): 4319.87
Dividend per Share (₹): 0.00
Cash EPS (₹): 8.88
Operating Margin %: 18.79%
Net Margin %: 9.78%
ROE %: 30.20%
ROCE %: 41.09%
: 17.66%
Debtor Days: 80
Inventory Days: 0
Payable Days: 0
: 80
Debt to Equity (x): 0.02x
Interest Coverage (x): 38.98x
: 2.57x
Revenue Growth %: 72.27%
Operating Profit Growth %: 19.77%
Net Profit Growth %: -12.31%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 12.01
Book Value (₹): 47.22
Dividend per Share (₹): 0.00
Cash EPS (₹): 14.71
Operating Margin %: 19.69%
Net Margin %: 11.54%
ROE %: 29.50%
ROCE %: 35.20%
: 15.56%
Debtor Days: 86
Inventory Days: 0
Payable Days: 0
: 86
Debt to Equity (x): 0.38x
Interest Coverage (x): 12.60x
: 2.96x
Revenue Growth %: 38.54%
Operating Profit Growth %: 45.17%
Net Profit Growth %: 63.43%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 15.17
Book Value (₹): 62.96
Dividend per Share (₹): 0.00
Cash EPS (₹): 18.59
Operating Margin %: 19.52%
Net Margin %: 13.00%
ROE %: 27.56%
ROCE %: 30.88%
: 14.60%
Debtor Days: 91
Inventory Days: 0
Payable Days: 0
: 91
Debt to Equity (x): 0.29x
Interest Coverage (x): 10.28x
: 2.93x
Revenue Growth %: 12.29%
Operating Profit Growth %: 28.10%
Net Profit Growth %: 26.53%
: 26.25%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.44x

Mar 2025

EPS (₹): 16.98
Book Value (₹): 107.70
Dividend per Share (₹): 2.00
Cash EPS (₹): 20.33
Operating Margin %: 18.82%
Net Margin %: 14.32%
ROE %: 20.45%
ROCE %: 25.24%
: 14.24%
Debtor Days: 90
Inventory Days: 0
Payable Days: 0
: 90
Debt to Equity (x): 0.00x
Interest Coverage (x): 25.51x
: 4.48x
Revenue Growth %: 9.64%
Operating Profit Growth %: 10.28%
Net Profit Growth %: 20.79%
: 11.96%
P/E (x): 34.05x
P/B (x): 5.37x
Dividend Yield %: 0.35%
: 21.00x

Mar 2026

EPS (₹): 16.68
Book Value (₹): 128.59
Dividend per Share (₹): 2.25
Cash EPS (₹): 21.93
Operating Margin %: 17.63%
Net Margin %: 11.43%
ROE %: 14.14%
ROCE %: 18.92%
: 10.31%
Debtor Days: 90
Inventory Days: 0
Payable Days: 0
: 90
Debt to Equity (x): 0.00x
Interest Coverage (x): 28.20x
: 2.41x
Revenue Growth %: 23.64%
Operating Profit Growth %: 7.72%
Net Profit Growth %: -1.38%
: -1.79%
P/E (x): 26.06x
P/B (x): 3.38x
Dividend Yield %: 0.52%
: 14.57x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	3.79	4.82	5.03	5.24	10.04	11.30	11.48	10.27	9.92
	3.84	3.17	3.98	4.96	7.20	6.95	8.06	8.29	8.74
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	92.37	92.01	91.00	89.80	82.75	81.74	80.45	81.44	81.35

Jun 2024

Promoters: 0.00
: 3.79
: 3.84
Government: 0.00
: 92.37

Sep 2024

Promoters: 0.00
: 4.82
: 3.17
Government: 0.00
: 92.01

Dec 2024

Promoters: 0.00
: 5.03
: 3.98
Government: 0.00
: 91.00

Mar 2025

Promoters: 0.00
: 5.24
: 4.96
Government: 0.00
: 89.80

Jun 2025

Promoters: 0.00
: 10.04
: 7.20
Government: 0.00
: 82.75

Sep 2025

Promoters: 0.00
: 11.30
: 6.95
Government: 0.00
: 81.74

Dec 2025

Promoters: 0.00
: 11.48
: 8.06
Government: 0.00
: 80.45

Mar 2026

Promoters: 0.00
: 10.27
: 8.29
Government: 0.00
: 81.44

Jun 2026

Promoters: 0.00
: 9.92
: 8.74
Government: 0.00
: 81.35

Documents

Announcements

Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-19 - Indegene Limited has informed the Exchange about Schedule of meet
Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-08-19 - Indegene Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Aug 2026
TranscriptPPTREC
Jul 2026
TranscriptPPTREC
May 2026
Transcript PPTREC