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Indegene Results: Latest Quarterly Results & Analysis

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Indegene Ltd. 30 Apr 2026 12:41 PM
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Q4FY26 & FY26 Result Announced for Indegene Ltd.

Healthcare Services company Indegene announced Q4FY26 & FY26 results

Q4FY26 Quarterly Consolidated Financial Highlights:

  • Revenue from Operations: Rs 10,034 million in Q4FY26, compared to Rs 7,556 million in Q4FY25, representing a YoY increase of 32.8%. On a QoQ basis, revenue grew by 6.5% from Rs 9,421 million in Q3FY26.
  • Total Income: Rs 10,142 million in Q4FY26, up from Rs 7,812 million in Q4FY25 (29.8% YoY) and up from Rs 9,615 million in Q3FY26 (5.5% QoQ).
  • Profit Before Tax (PBT): Rs 1,051 million in Q4FY26, a decrease of 29.6% YoY from Rs 1,493 million and a decrease of 22.0% QoQ from Rs 1,347 million. (Note: This includes an exceptional loss of Rs 203 million).
  • Profit for the Period (PAT): Rs 797 million in Q4FY26, down 32.2% YoY from Rs 1,176 million and down 22.5% QoQ from Rs 1,029 million.
  • Earnings Per Share (EPS): Basic EPS stood at Rs 3.32 and Diluted EPS at Rs 3.30 for Q4FY26.

FY26 Quarterly Consolidated Financial Highlights:

  • Revenue from Operations: Rs 35,105 million for FY26, compared to Rs 28,393 million in FY25, representing a YoY growth of 23.6%.
  • Total Income: Rs 35,825 million for FY26, up from Rs 29,465 million in FY25 (21.6% YoY).
  • Profit Before Tax (PBT): Rs 5,250 million in FY26, a slight decrease of 2.7% YoY from Rs 5,393 million in FY25.
  • Profit for the Year (PAT): Rs 4,011 million in FY26, compared to Rs 4,067 million in FY25.
  • Dividend: The Board recommended a final dividend of Rs 2.25 per equity share for FY26.

Q4FY26 Quarterly Standalone Financial Highlights:

  • Revenue from Operations: Rs 3,682 million in Q4FY26, compared to Rs 2,667 million in Q4FY25 (38.1% YoY) and Rs 2,901 million in Q3FY26 (26.9% QoQ).
  • Profit for the Period (PAT): Rs 721 million in Q4FY26, up 33.0% YoY from Rs 542 million and up 107.2% QoQ from Rs 348 million.

FY26 Quarterly Standalone Financial Highlights:

  • Revenue from Operations: Rs 12,206 million for FY26, compared to Rs 10,936 million in FY25 (11.6% YoY).
  • Profit for the Year (PAT): Rs 2,119 million in FY26, compared to Rs 1,813 million in FY25 (16.9% YoY).

Business Highlights

  • Enterprise Commercial Solutions: Reported revenue of Rs 24,605 million in FY26, up from Rs 19,348 million in FY25. The segment result was Rs 4,492 million.
  • Enterprise Medical Solutions: Reported revenue of Rs 9,298 million in FY26, up from Rs 8,025 million in FY25. The segment result was Rs 2,435 million.
  • Others: Reported revenue of Rs 1,202 million in FY26.
  • Inorganic Growth and Acquisitions
    • BioPharm Parent Holdings Inc.: Acquired 100% interest on October 1, 2025, for an aggregate purchase consideration of Rs 8,821 million (USD 99.77 million).
    • Warn & Co Limited: Acquired 100% interest on October 16, 2025, for a consideration of Rs 464 million.
    • Cake Kommunikations Holdings GmbH: Entered into an agreement on November 10, 2025, to acquire the Cake Group for an aggregate consideration of Rs 904 million.
    • Sahamati Foundation: Subsequent to the year-end, on April 10, 2026, the company invested Rs 10.00 million to acquire a 2.00% equity stake.

Manish Gupta, Chairman & CEO, Indegene, said: “FY26 was a landmark year for Indegene. We surpassed Rs 1,000 crore in quarterly revenue for the first time, and Rs 3,500 crore for the full year.”

“This reflects growing strategic depth in our largest client relationships, with 53 clients contributing over USD 1 million in annual revenue, alongside breakthrough GenAI-led wins across Commercial and Medical. With a strong pipeline and an industry-leading revenue per employee of USD 75k, we will build on this momentum in FY27.”

Suhas Prabhu, CFO, Indegene, said: “FY26 reflected disciplined financial execution. Our cash conversion ratio of 162% reflects continued strong underlying cash generation, while higher non-cash charges impact the reported profits.”

“Reflecting this strength, the Board has recommended a final dividend of Rs 2.25 per share - a 12.5% increase over FY25. With healthy margins, strong cash generation, and recent acquisitions now integrated, we enter FY27 with confidence.”

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Healthcare Services company Indegene announced Q3FY26 results

  • Revenue: Rs 9,421 million against Rs 7,204 million during Q3FY25, change 31%.
  • EBITDA: Rs 1,747 million against Rs 1511 million during Q3FY25, change 16%.
  • EBITDA Margin: 18.5% for Q3FY26.
  • PAT: Rs 1,026 million against Rs 1097 million during Q3FY25, change -6%.
  • PAT Margin: 10.9% for Q3FY26.

Manish Gupta, Chairman & CEO, Indegene, said: “We delivered a standout Q3FY26, with revenue growing over 30% YoY and 17% sequentially, marking it the first USD 100 million revenue quarter. Our revenue per employee has crossed the USD 70K annual mark - the highest in the industry - underscoring the tangible impact of technology and AI in scaling productivity.”,

“This quarter, 3 customers surpassed the USD 25 million annual revenue milestone, and 52 customers exceeded the USD 1 million annual level, reinforcing the depth of our client relationships. We also secured several breakthrough wins, where clients are partnering with us to combine our proven execution strength with AI to transform their operations and unlock differentiated, measurable outcomes. This momentum positions Indegene well to continue delivering sustained, profitable growth over the long term.”

Suhas Prabhu, CFO, Indegene, said: “During the quarter, we completed the acquisitions of BioPharm, a US-focused life sciences omnichannel business, and Warn & Co., a UK-based consulting firm - both strategically important additions that deepen our domain expertise and expand our high-value capabilities. Our cash and investments are a healthy Rs 13,954 million, net of acquisition outflows, with continued cash generation strengthening our balance sheet. EBITDA adjusted for one-time expenses, rose to Rs 1,747 million, growing 15.7% YoY and 19.6% sequentially.”

“While reported PAT remained flat at Rs 1,026 million this quarter, due to one-time expenses and higher non-cash amortization, these impacts are transient. As integration synergies are realized, acquisition-related costs taper off, and growth momentum continues, we expect profitability to continue to strengthen, supporting further EPS expansion.”

Result PDF

Healthcare Services company Indegene announced Q1FY26 results

  • Revenue from operations: Rs 7,608 million compared to Rs 6,765 million during Q1FY25.
  • EBITDA: Rs 1,536 million compared to Rs 1,328 million during Q1FY25.
  • EBITDA Margin: 20.2% for Q1FY26.
  • PAT: Rs 1,164 million compared to Rs 877 million during Q1FY25.
  • PAT Margin: 15.3% for Q1FY26.

Manish Gupta, Chairman and CEO, Indegene, said: “We continued our growth momentum in Q1FY26, delivering 1.8% growth QoQ in USD. This reflects a strong start to the year and indicates good traction with our clients and from recent deal wins. This was a good quarter for new pipeline growth, and we maintained the momentum on deal wins as well.”

“Additionally, we have identified strategic areas of focus for us in FY26 across the organization, spanning various functions. These initiatives will form the bedrock of our medium to long-term growth.”

Suhas Prabhu, CFO, Indegene, said: “In Q1FY26, we maintained our trajectory of stable and profitable growth. Both EBITDA margins and PAT margins were on stable lines, even as we continued investing on scaling Tectonic engagements which allow us to move upstream in the marketing value chain; these have now started to generate revenue for us.”

“We have a strong cash position and balance sheet and remain focused on M&A opportunities.”

Result PDF

Healthcare Services company Indegene announced Q3FY25 results

  • Achieved revenue of Rs 7,204 million in Q3FY25 compared to Rs 6,734 million during Q3FY24, a growth of 4.9% QoQ.
  • Achieved PAT of Rs 1,097 million compared to Rs 988 million during Q3FY24, a growth of 19.6% QoQ.
  • PAT margin: 15.2% for Q3FY25.
  • EBITDA: Rs 1,501 million compared to Rs 1,499 million during Q3FY24.
  • EBITDA margin: 20.8% for Q3FY25.

Manish Gupta, Chairman and CEO, Indegene, said: “We have consistently grown our revenue, maintaining stable and profitable growth, and our Q3FY25 numbers reflect this. We achieved revenue growth of 4.9% QoQ driven by continued traction with large pharma customers and growth momentum with mid-size pharma customers. Our largest customer is continuing to grow, and we are doing a run-rate of a tad below USD 50 million with this customer”

“We are seeing a steady increase in the revenues from our Top 5 customers, which have grown 3.1% sequentially in this period.”

Suhas Prabhu, CFO, Indegene, said: ““Q3FY25 was another successful quarter for Indegene. We improved our EBITDA margin from 18.4% in Q2FY25 to 20.8% in Q3FY25. This was achieved via ongoing productivity improvement through better capacity management and automation, which helped absorb the impact of the annual employee wage hike effective July, fully and beyond”

“Our earnings growth continues with PAT margin also increasing to 15.2% for the quarter, in line with our EBITDA performance. PAT has grown from INR 917 million in Q2FY25 to Rs 1,097 million in Q3FY25, a growth of 19.6% sequentially.”

Result PDF

Pharmaceuticals company Indegene announced Q1FY25 results:

  • Achieved revenue of Rs 6,765 million in Q1FY25 with growth of 11.4% vs Q1FY24
  • Robust EBITDA growth of 14.5% in Q1FY25 vs Q1FY24
  • Became a zero-debt company 

Manish Gupta, Chairman and CEO, Indegene, said: “In Q1FY25, we achieved revenue growth of 11.4% and robust EBITDA growth of 14.5% vs Q1FY24. We continue to see momentum and growth with our largest client and a few of our Top 20 clients with increased activity and volume levels tracking the larger pipeline of impending new product launches"

“Based on our conversations with our top clients, we anticipate similar momentum across the industry. Further, compared to last year, our pipeline is heathier and the quality of conversations with clients is much better, which gives us confidence about driving robust growth in the medium term.”

Suhas Prabhu, CFO, Indegene, said: “Our Q1FY25 EBITDA margin of 19.6% and PAT margin of 13.0% is an improvement of 50 bps and 170 bps vs Q1FY24. Indegene is now a zero-debt company with repayment of loans, and we anticipate the financial leverage to drive stronger PAT growth going forward”

“Also, we continue to strengthen our technology and automation initiatives, which we believe will have a positive impact on the margin in the future. Further, we anticipate that the EBITDA margin would have a similar trajectory as FY24 with a stronger H2 compared to H1.”

Result PDF

Consulting Services company Indegene announced FY24 results:

  • FY24 Revenue up by 12.3% YoY, crosses Rs 2,500 crore
  • FY24 EBITDA up 28.6%, and PAT up by 26.5% Yoy
  • FY24 EBITDA% up by 286 bps, and PAT% up by 146 bps YoY 

Manish Gupta, Chairman and Chief Executive Officer - "We are pleased with our continued performance this quarter and the full year. Today in the marketplace we are known as a digital first commercialization partner to the global life sciences industry. We have 63 active clients and work with all the top 20 global pharmaceutical companies. Our revenues very closely mirrors the global life sciences industry's spends on operations. 69% of our revenues come from the top 20 Pharma companies. Global Life Sciences industry is more than USD 1.8 Tn Industry. We are excited about the opportunity in front of us." 

Suhas Prabhu, Chief Financial Officer - "Our financial results reflect our focus on operational excellence, cost optimization and value-driven service delivery. While revenue grew steadily, we delivered strong growth in margins, with a healthy cash conversion and a strong balance sheet, providing us with the flexibility to invest in growth opportunities. We remain committed to delivering value to our clients and shareholders through deep domain expertise, innovation and operational excellence."

Result PDF

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