Concord Biotech Ltd. (CONCORDBIO) AI Stock Analysis

• Market Cap: ₹122.89B
• Dividend Yield: 0.8%
• Average Volume (3M): 12.81K
• Price to Earnings (P/E): 37.9
• Beta (1Y): 1.11
• Revenue Growth: 3.63%
• EPS Growth: -1.21%
• Country: IN
• Employees: 1,377
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 6.10
• Shares Outstanding: 104,616,200
• 10 Day Avg. Volume: 31,605
• 30 Day Avg. Volume: 12,808
• PEG Ratio: 2.27
• Price to Book (P/B): 9.60
• Price to Sales (P/S): 14.50
• P/FCF Ratio: 127.69
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: ₹1,239.00 ▼(-7.44% Downside)

Concord Biotech Ltd. has a strong financial foundation with excellent revenue and profit growth, supported by a robust balance sheet. However, the technical indicators suggest bearish momentum, and the valuation appears high, which could limit upside potential. The lack of earnings call data and corporate events means these factors do not influence the score.

Positive Factors

Balance sheet strength

Low leverage and a high equity ratio give the company durable financial flexibility to fund plant expansions, R&D, and regulatory compliance. This reduces refinancing risk, supports long-cycle pharma investments, and preserves the ability to withstand demand volatility over months.

Consistent operating cash generation

Reliable operating cash flow underpins self-funded capacity utilization and process scale-ups in fermentation manufacturing. Strong cash conversion sustains capital spending for complex API plants and reduces reliance on external financing, supporting operational continuity.

Specialized fermentation API manufacturing

Expertise in fermentation and difficult-to-make APIs is a structural competitive advantage, creating high technical barriers to entry and sticky customer relationships. This niche positioning supports long-term contract wins and pricing power in regulated global supply chains.

Negative Factors

Modest revenue growth rate

Low single-digit revenue growth suggests limited top-line expansion relative to the opportunity set for specialized APIs. Over months, this can constrain scale benefits, limit reinvestment capacity, and signal either market-share pressure or a narrow product growth pipeline.

Free cash flow volatility

Fluctuating free cash flow makes multi-year capital planning harder for capacity-heavy fermentation processes. Variable FCF can force trade-offs between maintenance, regulatory investments, and new capacity, increasing execution risk for long-lead manufacturing projects.

Customer/product concentration risk

Dependence on a limited set of customers or products raises durable revenue volatility and bargaining-power risk. Loss or repricing of a major contract could materially reduce utilization of specialized plants and pressure margins for months to years without new business ramp.

Concord Biotech Ltd. Business Overview & Revenue Model

Company Description

Concord Biotech Limited, a biopharma company, engages in the research and development, manufacturing, marketing, and sale of pharmaceutical products in India and internationally. It provides fermentation based active pharmaceutical ingredients in immunosuppressants, anti-bacterial, oncology, antifungal, and other therapeutic areas. The company also offers tacrolimus, mycophenolate mofetil, mycophenolate sodium, cyclosporine, sirolimus, and pimecrolimus for immunosuppressants therapeutic segment; temsirolimus, everolimus, romidepsin, mitomycin, midostaurin, and dactinomycin for oncology therapeutic segment; mupirocin, mupirocin calcium, vancomycin hydrochloride, and teicoplanin for anti-bacterial applications; anidulafungin, caspofungi, and micafungin sodium for anti-fungal therapeutic segment; and lovastatin and pravastatin sodium for other applications. In addition, it provides contract research and manufacturing services in the areas of fermentation and semi-synthesis products. Concord Biotech Limited was incorporated in 1984 and is based in Ahmedabad, India.

How the Company Makes Money

Concord Biotech generates revenue primarily through the sale of its biopharmaceutical products, including biosimilars and APIs. The company engages in both direct sales and partnerships with other pharmaceutical companies, which may involve licensing agreements and co-development arrangements. Significant revenue streams include the commercialization of biosimilars in various markets, where they compete with original biologics, as well as supplying APIs to other pharmaceutical manufacturers. Additionally, strategic collaborations with research institutions and industry partners for the development of new products contribute to its earnings, enhancing its market presence and expanding its product portfolio.

Concord Biotech Ltd. Financial Statement Overview

Summary

Concord Biotech Ltd. exhibits strong financial performance with robust revenue and profit growth. The balance sheet is particularly strong, with low leverage and high equity, providing financial security. Cash flow management is generally effective, though variability in free cash flow growth suggests a need for careful future capital planning.

Income Statement

Concord Biotech Ltd. has demonstrated strong revenue growth over the years, with a notable increase from 2020 to 2025. Gross profit margin and net profit margin are robust, reflecting efficient cost management and operational success. The EBIT and EBITDA margins indicate solid profitability, with consistent growth. However, the gross profit margin has slightly decreased, signaling potential cost pressures that need monitoring.

Balance Sheet

The balance sheet is strong, with a low debt-to-equity ratio, indicating minimal financial leverage and risk. The equity ratio is high, showing significant equity financing. Return on equity is commendable, highlighting effective use of shareholder funds. Overall, the company shows financial stability and prudent financial management.

Cash Flow

Operating cash flow is consistently positive and growing, underscoring effective cash management. Free cash flow also shows positive trends, although growth has fluctuated across the years. The operating cash flow to net income ratio is favorable, indicating good cash conversion from profits. However, the free cash flow growth rate has been inconsistent, presenting potential challenges in sustaining capital investments.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	11.88B	12.00B	10.17B	8.53B	7.13B	6.17B
Gross Profit	7.87B	7.68B	6.67B	6.61B	5.41B	5.00B
EBITDA	4.89B	5.13B	4.39B	3.53B	2.78B	3.29B
Net Income	3.56B	3.72B	3.08B	2.40B	1.75B	2.35B
Balance Sheet
Total Assets	0.00	20.34B	17.01B	15.14B	13.13B	11.83B
Cash, Cash Equivalents and Short-Term Investments	3.18B	3.18B	2.86B	1.81B	1.62B	2.01B
Total Debt	0.00	29.69M	97.38M	315.47M	624.93M	892.83M
Total Liabilities	-18.13B	2.22B	1.74B	2.24B	2.10B	1.83B
Stockholders Equity	18.13B	18.13B	15.27B	12.90B	11.03B	9.99B
Cash Flow
Free Cash Flow	0.00	1.36B	1.80B	1.01B	519.70M	-373.59M
Operating Cash Flow	0.00	2.47B	2.65B	2.46B	2.07B	1.67B
Investing Cash Flow	0.00	-1.63B	-1.55B	-1.58B	-1.12B	-1.95B
Financing Cash Flow	0.00	-986.67M	-992.15M	-852.19M	-1.00B	311.24M

Concord Biotech Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1338.60
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:CONCORDBIO, the sentiment is Negative. The current price of 1338.6 is above the 20-day moving average (MA) of 1290.31, below the 50-day MA of 1341.71, and below the 200-day MA of 1581.56, indicating a bearish trend. The MACD of -44.77 indicates Positive momentum. The RSI at 26.08 is Positive, neither overbought nor oversold. The STOCH value of 9.45 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:CONCORDBIO.

Concord Biotech Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BIOCON	63 Neutral	₹593.57B	92.32	―	0.12%	10.62%	-66.88%
BLUEJET	63 Neutral	₹72.41B	20.55	―	0.22%	63.34%	109.89%
JUBLINGREA	63 Neutral	₹101.26B	34.82	―	0.74%	3.80%	64.94%
SYNGENE	62 Neutral	₹190.87B	54.00	―	0.19%	8.57%	-2.93%
CONCORDBIO	61 Neutral	₹122.89B	37.93	―	0.80%	3.63%	-1.21%
PPLPHARMA	55 Neutral	₹205.44B	-124.57	―	0.08%	2.66%	-153.15%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Concord Biotech Ltd. Corporate Events

Concord Biotech Updates Key Managerial Authorisations for Market Disclosures

Concord Biotech Limited has revised the list of key managerial personnel (KMPs) authorized to determine the materiality of events and information and to make corresponding disclosures to stock exchanges under SEBI’s Listing Obligations and Disclosure Requirements. The updated authorized KMPs now include Chairman and Managing Director Sudhir Vaid, Joint Managing Director and CEO Ankur Vaid, Chief Financial Officer Raviraj Karia, and Company Secretary and Compliance Officer Hina Patel, a move that formalizes the company’s internal governance framework for market disclosures and reinforces its compliance processes for timely and accurate communication with investors and regulators.