Indegene Limited (IN:INDGN)
:INDGN
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Indegene Limited
(INDGN)
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Rating:66Neutral
Price Target:
₹530.00
▲(1.48% Upside)
Action:DowngradedDate:10/08/25
Indegene Limited's strong financial performance is the primary driver of its overall score, supported by robust revenue growth and a solid balance sheet. However, technical indicators suggest a bearish trend, and the stock appears overvalued with a high P/E ratio and low dividend yield, which weigh down the overall score.
Positive Factors
Consistent revenue growth
An ~18.4% revenue growth rate indicates durable demand for Indegene's technology-enabled services and expanding client engagements. Sustained top-line expansion supports scale economics, strengthens cross-sell opportunities across commercial, medical, analytics and platform offerings, and underpins recurring managed-service revenue over multiple quarters.
Negative Factors
2025 EBITDA decline
A sharp EBITDA drop in 2025 signals potential margin pressure from adverse contract mix, pricing compression, or cost increases. If this is structural rather than one-off, it could weaken cash generation, force tighter cost controls, and reduce headroom for platform investment and talent retention over subsequent quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent revenue growth
An ~18.4% revenue growth rate indicates durable demand for Indegene's technology-enabled services and expanding client engagements. Sustained top-line expansion supports scale economics, strengthens cross-sell opportunities across commercial, medical, analytics and platform offerings, and underpins recurring managed-service revenue over multiple quarters.
Read all positive factors
Indegene Limited (INDGN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹118.29B
Dividend Yield0.38%
Average Volume (3M)17.62K
Price to Earnings (P/E)30.3
Beta (1Y)0.47
Revenue Growth18.36%
EPS Growth14.11%
CountryIN
Employees4,367
SectorTechnology
Sector Strength88
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)4.30
Shares Outstanding240,901,350
10 Day Avg. Volume12,460
30 Day Avg. Volume17,622
Financial Highlights & Ratios
PEG Ratio1.56
Price to Book (P/B)5.26
Price to Sales (P/S)4.85
P/FCF Ratio33.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹525.00Price Target Upside0.53% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)21.29
Revenue Forecast (FY)₹42.19B
Indegene Limited Business Overview & Revenue Model
Company Description
Indegene Limited operates as a life sciences commercialization company in India and internationally. It helps biopharmaceutical, emerging biotech, and medical device companies develop products, get to the market, and grow impact through the life c...
How the Company Makes Money
Indegene makes money primarily by delivering outsourced, technology-enabled services to life sciences companies under commercial and medical functions. Revenue is generally generated through: (1) Commercial services engagements—supporting brand an...
Indegene Limited Financial Statement Overview
Summary
Income Statement
88
Very Positive
Balance Sheet
82
Very Positive
Cash Flow
75
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 30.41B | 28.39B | 25.90B | 23.06B | 16.65B | 9.66B |
| Gross Profit | 23.54B | 28.39B | 25.90B | 23.06B | 16.65B | 9.66B |
| EBITDA | 6.80B | 6.42B | 5.81B | 4.54B | 2.65B | 2.96B |
| Net Income | 4.46B | 4.07B | 3.37B | 2.66B | 1.65B | 1.49B |
Balance Sheet | ||||||
| Total Assets | 35.76B | 33.26B | 25.46B | 22.04B | 13.53B | 5.96B |
| Cash, Cash Equivalents and Short-Term Investments | 12.68B | 16.64B | 9.85B | 7.11B | 6.26B | 1.33B |
| Total Debt | 2.10B | 1.02B | 4.90B | 5.03B | 657.52M | 513.88M |
| Total Liabilities | 7.10B | 7.10B | 11.16B | 11.40B | 5.90B | 2.63B |
| Stockholders Equity | 28.66B | 26.16B | 14.29B | 10.64B | 7.64B | 3.25B |
Cash Flow | ||||||
| Free Cash Flow | 1.87B | 4.12B | 4.97B | 1.11B | 2.72B | 1.51B |
| Operating Cash Flow | 2.03B | 4.42B | 5.08B | 1.30B | 2.97B | 1.72B |
| Investing Cash Flow | 32.00M | -6.83B | -3.27B | -8.93B | -1.60B | -242.49M |
| Financing Cash Flow | -636.00M | 2.88B | -662.00M | 3.33B | 2.33B | -1.32B |
Indegene Limited Technical Analysis
Neutral
522.25
Price Trends
470.96
Positive
492.55
Negative
525.59
Negative
Market Momentum
7.38
Negative
56.46
Neutral
79.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDGN, the sentiment is Neutral. The current price of 522.25 is above the 20-day moving average (MA) of 463.99, above the 50-day MA of 470.96, and below the 200-day MA of 525.59, indicating a neutral trend. The MACD of 7.38 indicates Negative momentum. The RSI at 56.46 is Neutral, neither overbought nor oversold. The STOCH value of 79.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:INDGN.
Indegene Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | ₹64.51B | 9.84 | ― | 3.28% | 9.68% | 1.75% | |
73 Outperform | ₹122.05B | 14.48 | ― | 1.75% | 7.70% | 19.18% | |
66 Neutral | ₹118.29B | 30.35 | ― | 0.38% | 18.36% | 14.11% | |
65 Neutral | ₹59.83B | 47.32 | ― | ― | 27.49% | 19.52% | |
63 Neutral | ₹96.93B | 19.41 | ― | 2.62% | -1.25% | -30.62% | |
62 Neutral | ₹103.04B | 25.31 | ― | 1.42% | -2.63% | -19.70% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
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Indegene Limited Corporate Events
Indegene to Acquire Two UK Consulting Subsidiaries, Expands Healthcare Services Footprint
Mar 1, 2026
Indegene Limited’s wholly owned unit, Indegene Healthcare UK Limited, has signed a share purchase agreement to acquire 100% of DT Associates Research and Consulting Services Limited, UK, from ILSL Holdings, Inc., and Trilogy Writing and Cons...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.