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Indegene Ltd.

INDGNHealthcare filings

We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.

Earnings calls

10 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 10 documents here); elsewhere sentences render unattributed.

KindDatePeriodServedAttribution rate
TRANSCRIPT202406042024-03-31yes
TRANSCRIPT202408082024-06-30yes
TRANSCRIPT202411042024-09-30yes
TRANSCRIPT202502062024-12-31yes
TRANSCRIPT202505022025-03-31yes
TRANSCRIPT202508062025-06-30yes
TRANSCRIPT202511032025-09-30yes
TRANSCRIPT202602042025-12-31yes
TRANSCRIPT202605062026-03-31yes
TRANSCRIPT202608062026-06-30yes

INDGN

files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.

Identity

Statement divisiongeneral
Scope servedconsolidated
Panels on this page4

Market

No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.

Last close594.10
52-week range423.5 – 611.65
Return 1M5.42%
Return 3M14.68%
Return 1Y3.8%
Return 3Ynot reported for this period
Return 5Ynot reported for this period
Market capitalisationnot shown — we could not confirm it
Shares outstandingnot shown — we could not confirm it
P/Enot shown — we could not confirm it
P/Bnot shown — we could not confirm it
EV/EBITDAnot shown — we could not confirm it

Latest quarter filed — period ending 2026-06-30

In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.

Revenue from operations1,063.00
Other income29.00
Total income1,092.00
Cost of materials consumed0.00
Purchases of stock-in-trade0.00
Changes in inventories0.00
Employee benefit expense659.00
Finance costs6.00

Ownership — 2026-06-30, and the change from 2026-03-31

HolderPer centChange
promoter and promoter groupnot disclosed—
institutions foreign0.10-0.00
institutions domestic0.090.00
mutual funds0.050.01
public1.000.00

Documents on file

ClassMost recentOn file
TRANSCRIPT2026-06-3010

Financial statements

Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.

Quarterly results, as filed

Line2024-03-312024-06-302024-09-302024-12-312025-03-312025-06-302025-09-302025-12-312026-03-312026-06-30
Revenue from operations673.00676.00687.00720.00756.00761.00804.00942.001,003.001,063.00
Other income23.0022.0021.0038.0026.0022.0020.0019.0011.0029.00
Total income696.00699.00708.00758.00781.00783.00824.00962.001,014.001,092.00
Cost of materials consumed0.000.000.000.000.000.000.000.000.000.00
Purchases of stock-in-trade0.000.000.000.000.000.000.000.000.000.00
Changes in inventories0.000.000.000.000.000.000.000.000.000.00
Employee benefit expense428.00444.00442.00444.00485.00482.00516.00568.00632.00659.00
Finance costs12.0012.004.003.003.004.004.005.007.006.00
Depreciation and amortisation18.0020.0019.0020.0021.0022.0023.0040.0042.0044.00
Other expenses106.00103.00119.00145.00123.00124.00148.00215.00207.00230.00
Total expenses565.00579.00584.00612.00632.00631.00691.00827.00889.00939.00
Profit before exceptional items and tax131.00120.00124.00146.00149.00152.00133.00135.00125.00153.00
Exceptional items2.000.000.000.000.000.000.000.00-20.000.00
Profit before tax134.00120.00124.00146.00149.00152.00133.00135.00105.00153.00
Current tax13.0035.0036.0034.0044.0028.0038.0087.0023.0029.00
Deferred tax26.00-3.00-4.003.00-12.007.00-7.00-56.003.007.00
Tax expense39.0032.0032.0037.0032.0036.0031.0032.0025.0036.00
Profit for the period95.0088.0092.00110.00118.00116.00102.00103.0080.00116.00
Profit attributable to owners97.0088.0092.00110.00—116.000.00103.0080.00116.00
Profit attributable to non-controlling interests0.000.000.000.00—0.000.000.000.000.00
Other comprehensive income2.00-1.0011.0013.003.0017.0048.0019.0055.0012.00
Total comprehensive income97.0087.00102.00123.00120.00133.00150.00122.00135.00128.00
Earnings per share, basic4.273.793.844.594.914.864.264.293.324.84
Earnings per share, diluted4.243.763.804.554.884.824.234.263.304.81

Annual results, as filed

Line2024-03-312025-03-312026-03-31
Revenue from operations2,590.002,839.003,510.00
Other income76.00107.0072.00
Total income2,666.002,946.003,582.00
Cost of materials consumed0.000.000.00
Purchases of stock-in-trade0.000.000.00
Changes in inventories0.000.000.00
Employee benefit expense1,652.001,815.002,198.00
Finance costs49.0022.0019.00
Depreciation and amortisation76.0080.00126.00
Other expenses433.00490.00694.00
Total expenses2,210.002,407.003,037.00
Profit before exceptional items and tax456.00539.00545.00
Exceptional items2.000.00-20.00
Profit before tax459.00539.00525.00
Current tax126.00149.00176.00
Deferred tax-4.00-16.00-52.00
Tax expense122.00133.00124.00
Profit for the period337.00407.00401.00
Profit attributable to owners345.00—401.00
Profit attributable to non-controlling interests0.00—0.00
Other comprehensive income8.0026.00139.00
Total comprehensive income345.00432.00540.00
Earnings per share, basic15.1917.1516.72
Earnings per share, diluted15.0717.0216.62

Balance sheet, as filed

Line2024-03-312024-09-302025-03-312025-09-302026-03-31
Total assets2,546.003,024.003,326.003,576.004,620.00
Non-current assets755.00735.00796.00844.002,002.00
Current assets1,791.002,290.002,530.002,731.002,618.00
Property, plant and equipment114.00111.00135.00161.00194.00
Capital work-in-progress—0.004.000.0012.00
Goodwill333.00338.00356.00379.001,134.00
Other intangible assets198.00183.00186.00179.00483.00
Inventories0.000.000.000.000.00
Trade receivables648.00705.00751.00787.00982.00
Cash and cash equivalents189.00312.00241.00368.00301.00
Total equity and liabilities2,546.003,024.003,326.003,576.004,620.00
Equity1,429.002,360.002,616.002,866.003,139.00
Equity share capital44.0048.0048.0048.0048.00
Other equity1,385.002,312.002,568.002,818.003,091.00
Total liabilities1,116.00664.00710.00710.001,482.00
Non-current liabilities506.00154.00146.00160.00395.00
Current liabilities611.00510.00564.00550.001,086.00
Borrowings, non-current333.000.000.000.000.00
Borrowings, current70.000.000.000.000.00
Trade payables118.0087.0093.0092.00181.00

Cash flow, as filed

Line2024-03-312024-09-302025-03-312025-09-302026-03-31
Net cash from operating activities508.00135.00442.00203.00651.00
Net cash from investing activities-327.00-323.00-683.003.00-512.00
Net cash from financing activities-66.00306.00288.00-64.00-83.00
Purchase of property, plant and equipment11.005.0030.0016.0044.00
Net increase in cash115.00123.0052.00127.0060.00
con:CFO.BEFORE_TAX633.00230.00602.00302.00798.00
con:INTEREST_RECEIVED.OPERATING0.000.000.000.000.00
con:INTEREST_PAID.OPERATING0.000.000.000.000.00
con:DIVIDENDS_RECEIVED.OPERATING0.000.000.000.000.00
con:TAX_PAID.OPERATING125.0095.00160.0099.00148.00
con:CF_OTHER.OPERATING0.000.000.000.000.00
con:INVESTMENTS_PURCHASED172.002.00111.00552.000.00
con:INVESTMENTS_SOLD0.000.000.000.000.00
con:PPE_DISPOSALS0.000.000.000.000.00
con:CF_INVESTING.SUBSIDIARIES_SOLD0.000.000.000.000.00
con:CF_INVESTING.SUBSIDIARIES_ACQUIRED0.000.000.000.000.00
con:CF_INVESTING.JV_SOLD0.000.000.000.000.00
con:CF_INVESTING.JV_ACQUIRED0.000.000.000.000.00

Who owns it

The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.

Holder2024-05-132024-06-302024-09-302024-12-312025-03-312025-06-302025-09-302025-12-312026-03-312026-06-30
Promoter and promoter group0.000.000.000.000.00—————
Domestic institutions5.333.843.173.984.967.200.070.080.080.09
Mutual funds—————3.370.030.040.050.05
Insurance companies0.350.270.110.100.040.010.000.000.000.00
Foreign institutions3.563.794.825.035.2410.050.110.110.100.10
Government—————————0.00
Public99.84100.00100.00100.00100.00100.001.001.001.001.00
Non-institutional90.9692.3792.0190.9989.8082.750.820.800.810.81
Shares outstanding239268909239268909239268909239268909240007962240069661240139636240317117240901354240954305

Related parties

Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.

CounterpartyRelationshipTypeAmount in the periodTransactions
Indegene, Inc.Step SubsidiaryAny other transaction, Sale of goods or services5,240,000,000.0017
ILSL Holdings, Inc.SubsidiaryAdvance, Any other transaction, Interest received, L3,718,000,000.004
DT Associates Research and Consulting Services LimitedStep SubsidiaryAdvance, Any other transaction, Sale of goods or ser173,000,000.009
Cult Health LLCStep SubsidiaryAny other transaction, Sale of goods or services89,000,000.003
Indegene Lifesystems Consulting (Shanghai) Co. Ltd.Step SubsidiaryAdvance, Any other transaction, Interest received, L58,000,000.008
Manish GuptaChief Executive Officer and ExecutRemuneration22,000,000.001
Suhas PrabhuChief Financial OfficerRemuneration18,000,000.001
Dr. Rajesh B NairNon- executive DirectorRemuneration17,000,000.001
Dr. Sanjay S ParikhExecutive DirectorRemuneration15,000,000.001
Dr. Ashish GuptaNon- executive Independent DirectoAny other transaction5,000,000.002
Dr. Georgia Nikolakopoulou PapathomasNon- executive Independent DirectoAny other transaction5,000,000.002
Indegene Japan LLCSubsidiaryAny other transaction, Sale of goods or services4,000,000.003
Ms. Srishti KaushikCompany SecretaryRemuneration4,000,000.001
Indegene LimitedParent CompanyAny other transaction3,000,000.005
Mr. Jairaj Manohar PurandareNon- executive Independent DirectoAny other transaction3,000,000.002

What management said

Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.

DateQuarterWho spoke
2026-08-06Q1FY27Read the call
2026-05-06Q4FY26Read the call
2026-02-04Q3FY26Read the call
2025-11-03Q2FY26Read the call
2025-08-06Q1FY26Read the call
2025-05-02Q4FY25INDEGENE LIMITEDRead the call
2025-02-06Q3FY25LIMITEDRead the call
2024-11-04Q2FY25INDEGENE LIMITEDRead the call
2024-08-08Q1FY25INDEGENE LIMITEDRead the call
2024-06-04Q4FY24INDEGENE LIMITEDRead the call

What they said about it, quarter by quarter

TopicQ1FY27Q2FY25Q2FY26Q3FY25Q3FY26Q4FY24Q4FY25Q4FY26
Capex—————Having said that, even from a capex and fixed investment perspective, we are very asset light.And what kind of a capex are we planning to do in FY '26?—
Capital allocation—And those are the kind of opportunities we are seeing because of the Cult acquisition.Finally, some details on the BioPharm acquisition that we announced early this month.In Q3 we entered into a final settlement of the earnout due to an acquisition that we had done in the past of CultHealth.Now let me move to an update on the progress made with BioPharm post the acquisition effective October 1.May 30, 2024 we have declared for Q4 represents only the organic performance of the business and therefore no impact due to the acquisition of Trilogy…April 29, 2025 Now with this, if I look at the highlights for FY '25, Post Trilogy - this is an acquisition we made, if you remember, towards the end …—
CostsIf you could explain your proprietary Gen AI model in terms of developing vertical oncology and the integration with frontier models or open- source C…———————
Debt and cashAnd what specific measures are being taken to manage margins, cash flow and strengthen the balance sheet, especially in areas like client receivables …—If I look at the H1 operating cash flow, it has actually improved from INR1.35 billion to INR2 billion.—So, cash flows have been significant, and we continue to generate significant cash.And while growing, will maintain our profitability and cash flows, which we have done well in this industry.—So, debtors have reduced significantly, resulting in higher cash flows.
DemandIt is this capability on top of a strong and consistent pipeline that gives us the confidence to say that FY27 will be a stronger year than FY26. With…We continue to actively scout for M&A opportunities and have a healthy pipeline of potential opportunities right now.This is up from 2 customers we had in Q1. We have initiated multiple conversations in this area and the pipeline is shaping up well.There continue to be a few of the top 20 pharma companies, call it 2 to 4 which are still trying to get over a weak pipeline of new products.The scale and mix of wins as also the pipeline and discussions reflect improving industry sentiment, faster customer decision cycles and the strength …Have you seen any improvement in demand from clients, which can lead to acceleration in growth?We have a pipeline of interesting potentially large engagements with a few of our Top 10 accounts as well.Specifically, our largest customer signing up with Germany as a region, but also active and very high probable pipeline for many other regions with th…
GuidanceOn that basis, we expect our organic growth in FY27 to be better than FY26, and we anticipate an acceleration in the second half.Finally, the total number of active clients grew from 65 to 68 and USD 1 million clients grew from 36 to 37 in Q2. More than 95% of our revenue contin…And second, in terms of employee cost front, you can give some sense of the hikes, which we have taken post June, which is reflecting in Q2. And comin…—With BioPharm integration-related synergies beginning to take shape, M&A-related costs tapering off and the underlying business momentum remaining str…And also, should we expect any headwinds from patent expiry or inflation reduction act next year?Clients may require guidance on adjusting their strategies in the new regulatory environment, they'll have to be much more prepared.But having said that, I would guide towards mid-60s to 70 days on a steady basis.
MarginWith that, let me hand over to Suhas, who will take you through the financials for the quarter and how we see the margin trajectory also playing out.With those details on the revenue by segment, let me now move to margins, starting with the EBITDA.These ahead of the curve investments should accelerate our growth progressively over 6 to 8 quarters, but with EBITDA margins compression in the near …Q3 FY25 EBITDA came in at INR 1,501 million.We delivered an Adjusted EBITDA margin of 18.5%.May 30, 2024 EBITDA was INR584.1 crores this year, representing a margin of 22.6%, which is up 28.6% year-on-year.EBITDA margins for the quarter stood at 20.2%, a drop of 60 basis points sequentially.And the second question is on the margin, where you have talked about some of the investments that you are making and you coming back to your previous…
PeopleWe continue scaling our homegrown platforms, Medico-Legal Review and Medical Writing, where our domain expertise is embedded in technology, and these …—In terms of headcount addition, how do you see the trend in the near to medium term, considering we have made a lot of investment in terms of producti…So how are we planning to add the employees and what kind of hiring are we doing?————
Pricing—And just following that, if this is a little bit more project-heavy business, is there any sense you can give us on pricing and sales cycle versus our…Before we move ahead, to summarize my commentary on the U.S. policy changes and the administration action, the industry continues to face pressure on …We believe there will be a continuous pressure on drug pricing.Despite a year filled with policy driven headlines- pharma tariffs, MFN pricing, H-1B visa discussions- the actual impact to the industry and conseque…May 30, 2024 are hybrid contracts, FTEs, dedicated FTEs, but a significant portion being per-unit pricing, where we have the flex to develop tools, te…Nothing if you see from a customer pricing or impacting our margins materially as we speak today.Indegene Limited April 30, 2026 So, there is a sustained effort to increase this in combination with the technology impacting our operations positivel…
Revenue growthRevenues for the quarter came in at INR10,631 million or USD 112.5 million, representing growth of 26.5% year-on-year and 2.5% quarter-on-quarter in U…This higher growth rate is mainly attributed to upsurge in drug launches, which is always favourable to the growth of the industry and from our perspe…Thus PBT came in at INR1,331 million, a growth of 7.3% year-on-year and PAT came in at INR1,021 million, a growth of 11.4% year-on-year.With this broad commentary about the industry, let me now come to the regular commentary on our performance: Q3 for us, Q3 FY25 revenues came in at 7,…Even if I exclude BioPharm, which was acquired effective October 2025, the growth was 18.3% year-on-year and 5.9% quarter-on-quarter.May 30, 2024 The last acquisition prior to that was of Cult Health in October 2022 and this has contributed to the growth of our omnichannel activatio…Our Q4 FY '25 revenues came in at INR7,556 million, a growth of 4.9% quarter-on-quarter, driven primarily by higher revenues from the deals won in the…—

What they said they would do

Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.

DateQuarterWhoWhat they said
2024-11-04Q2FY25INDEGENE LIMITEDFinally, the total number of active clients grew from 65 to 68 and USD 1 million clients grew from 36 to 37 in Q2. More than 95% of our revenue continues to come from the US and EU regions, so that kind of remains stable and we expect that to remain stable.