Indegene (INDGN) had a P/E of 35.9× on 6 Nov 2026, above the industry P/E of 26.0×. It earns ROCE of 15% and ROE of 13%, and sales and net profit grew 15% and 15% a year over 3 years. It has almost no debt, and its dividend yield is 0.4%. It is a small-cap company with a market cap of ₹14,684 Cr, ranked 3rd of 6 Health Information Services companies by market cap; the shares rose 14% over the past year.
- ₹611.00
- ₹618.00
- ₹600.00
- ₹613.35
- 2.3 L
Health check
- ReturnsAhead
+13.8% over a year, better than 5 of 5 peers.
- Price tagPricier
P/E 35.9 vs industry 26.0.
- GrowthSlow
Sales +15.0%, profit +14.7% a year over 3 years.
- ProfitabilityAverage
ROCE 15.3% vs peer median 12.5%.
- Balance sheetStretched
Practically debt-free, Piotroski 3 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Defensive
Key metrics
- Market cap
- ₹14,684 Cr
- Small cap
- P/E
- 35.9
- Industry 26.0
- Price to book
- 4.37
- Peers 1.98
- Dividend yield
- 0.37%
- ROE
- 13.2%
- Peers 12.9%
- ROCE
- 15.3%
- Peers 12.5%
- Debt to equity
- 0.05
- Debt ₹157 Cr
- EPS (TTM)
- ₹17.00
- Face value ₹2
- OPM (TTM)
- 16.5%
- Net margin 10.0%
- Sales growth
- +39.6%
- Latest quarter vs a year ago
- Profit growth
- +9.7%
- Latest quarter vs a year ago
- Price to sales
- 3.55
- EV/EBITDA 20.8
Strengths and risks
Strengths
- Practically debt-free.
- Quarterly sales up 39.6% on a year ago.
- Positive operating cash flow in each of the last 4 years.
About Indegene
Indegene Limited operates as a digital-first life sciences commercialization company in India, the United States, Europe, North America, and internationally. It operates through Enterprise Medical Solutions, Enterprise Commercial Solutions, and Other segments. The company provides AI-embedded commercialization services for biopharmaceutical, emerging biotech, and medical devices companies. It also offers enterprise commercial, medical, and clinical…
- Headquarters
- Bengaluru
- Employees
- 4,687
- Sector
- Healthcare
- ISIN
- INE065X01017
- Website
- indegene.com
Price range
- Avg volume (3M)
- 5.8 L
- 1-year return
- plus 13.8%
- From 52-week high
- minus 4.4%
Analyst consensus
Peers · Health Information Services
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| IKSInventurus Knowledge Solutions | 1,657.10 | minus 5.70% | 27,799 | 35.4 | 8.32 | 29.6% | 28.2% | 33.7% | 45.7% | 33.2% | 0.00% | plus 5.4% |
| SAGILITYSagility | 43.46 | minus 0.78% | 20,345 | 19.8 | 1.98 | 12.5% | 10.7% | 24.4% | 19.5% | 86.0% | 0.69% | minus 15.1% |
| INDGNIndegene | 609.75 | minus 0.59% | 14,684 | 35.9 | 4.37 | 15.3% | 13.2% | 16.5% | 15.0% | 14.7% | 0.37% | plus 13.8% |
| FABTECHFabtech Technologies | 131.98 | minus 1.78% | 587 | 15.5 | 1.21 | 11.8% | 12.9% | 2.4% | 28.3% | 20.8% | 0.45% | minus 43.5% |
| TAKETAKE | 12.57 | plus 4.84% | 186 | 32.2 | 6.10 | 15.4% | 42.1% | −0.9% | −34.1% | – | 0.00% | minus 49.8% |
| DEEPAIDeep Health AI India | 1.64 | 0.00% | 24 | 14.9 | 0.65 | 3.2% | 3.1% | −457.4% | −17.9% | −3.4% | 12.20% | minus 81.9% |
| Median of 5 peers | – | −0.78% | 587 | 19.8 | 1.98 | 12.5% | 12.9% | 2.4% | 19.5% | 27.0% | 0.45% | −43.5% |
Quarterly results
| ₹ Cr | Jun 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 761 | 942 | 1,003 | 1,063 | 1,122 | |
| 606 | 783 | 840 | 889 | 937 | |
| 155 | 160 | 164 | 174 | 186 | |
| 20.4% | 16.9% | 16.3% | 16.4% | 16.5% | |
| 22.1 | 19.4 | 10.8 | 29 | 15 | |
| 3.7 | 4.6 | 7.2 | 6.4 | 6.9 | |
| 21.6 | 39.6 | 41.8 | 44.1 | 46.4 | |
| – | – | −20.3 | – | – | |
| 152 | 135 | 105 | 153 | 147 | |
| 23.5% | 23.6% | 24.2% | 23.9% | 23.8% | |
| 116 | 103 | 79.7 | 116 | 112 | |
| 4.82 | 4.26 | 3.30 | 4.81 | 4.64 |
Profit & loss
- Sales CAGR 3Y
- +15.0%
- Profit CAGR 3Y
- +14.7%
- EPS CAGR 3Y
- +14.3%
- ROE
- 13.2%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2,306 | 2,590 | 2,839 | 3,511 | |
| – | +12.3% | +9.6% | +23.6% | |
| 1,910 | 2,079 | 2,305 | 2,886 | |
| 396 | 511 | 534 | 624 | |
| 17.2% | 19.7% | 18.8% | 17.8% | |
| 58 | −45.9 | 59.2 | 33.3 | |
| 31.3 | 46.3 | 19.4 | 16 | |
| 59.8 | 76.1 | 80.2 | 127 | |
| – | 116 | 45.4 | 9.9 | |
| 363 | 459 | 539 | 525 | |
| 26.7% | 26.6% | 24.6% | 23.6% | |
| 266 | 337 | 407 | 401 | |
| – | +26.5% | +20.8% | minus 1.4% | |
| 11.12 | 14.09 | 17.02 | 16.62 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 44.3 | 44.4 | 47.9 | 48.1 | |
| 1,019 | 1,385 | 2,568 | 3,091 | |
| 503 | 490 | 102 | 144 | |
| 638 | 627 | 609 | 1,337 | |
| 2,204 | 2,546 | 3,326 | 4,620 | |
| 152 | 121 | 139 | 206 | |
| 6.2 | – | 3.6 | 11.8 | |
| – | 10.7 | – | 57.1 | |
| 711 | 1,017 | 1,677 | 1,481 | |
| 1,335 | 1,397 | 1,507 | 2,864 | |
| 2,204 | 2,546 | 3,326 | 4,620 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 130 | 508 | 442 | 651 | |
| −893 | −327 | −683 | −512 | |
| 333 | −66.2 | 288 | −82.6 | |
| −430 | 114 | 46.7 | 55.8 | |
| −18.8 | −10.7 | −30 | −44.4 | |
| 111 | 497 | 412 | 606 | |
| – | – | – | −48 |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company. Institutions hold about 28.7% (Yahoo estimate).
Major shareholders
Filings & events
News
No recent news coverage found.