Biocon logo

Biocon

BIOCON NSE

Key Fundamentals

MidcapPharmaceuticalsHealthcare
Market Cap
₹62,454 Cr
Volatility
Moderate
P/E Ratio
116.26
EBITDA
₹3,798 Cr
Return on Equity
1.01%
Debt to Equity
0.45
Book Value
₹211.51
EPS
₹13
52W High
₹447.15
52W Low
₹337.05

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Weaknesses

5
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 3.49% over last 3 years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 10.9% of profits over last 3 years
  • Promoter holding has decreased over last 3 years: -16.0%

Growth Rate

Revenue Growth
4.85% lower than 3Y
Net Income Growth
-74.2% lower than 3Y
Cash Flow Change
-50.9% lower than 3Y
ROE
-80.43% lower than 3Y
ROCE
-53.67% lower than 3Y
EBITDA Margin (Avg.)
-17.21% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk high

Biocon Ltd trades at a market cap of ₹62,454 Cr with a PE of 152.3x, reflecting a premium valuation against a backdrop of strong revenue growth (10-year sales CAGR of 18%) but persistently weak profitability (3-year compounded profit CAGR of -15%). The company's ROE has declined to 1% in the last year, and promoter holding has fallen by 16 percentage points over three years, while TTM profit growth of 100% suggests a potential earnings inflection from a low base.

Bull Case 7
  • Strong long-term revenue compounding with 10-year sales CAGR of 18% and 5-year sales CAGR of 19%, indicating consistent top-line expansion in the biosimilars and generics space
  • TTM profit growth of 100% signals a sharp earnings recovery, potentially marking a turnaround after years of profit decline
  • TTM sales growth of 10% demonstrates continued revenue momentum even on a larger base
  • 3-year stock CAGR of 14% shows the market has been pricing in improving fundamentals ahead of reported earnings
  • Price-to-book ratio of 1.84x is relatively moderate for a large-cap healthcare/biotech company, suggesting the stock is not excessively stretched on a book value basis
  • Market cap of ₹62,454 Cr provides institutional-grade liquidity and index inclusion potential, supporting valuation floor
  • 10-year sales CAGR of 18% significantly outpaces the 10-year profit CAGR of 1%, suggesting substantial operating leverage potential if margins normalize
Bear Case 8
  • PE ratio of 152.3x is extremely elevated, demanding flawless execution and significant earnings acceleration to justify current valuation
  • 3-year compounded profit CAGR of -15% and 5-year profit CAGR of -12% reflect sustained erosion in bottom-line performance despite top-line growth
  • Promoter holding has decreased by 16 percentage points over the last 3 years, a significant confidence signal that warrants scrutiny
  • ROE has deteriorated from 6% (10-year average) to just 1% in the last year, indicating poor capital efficiency and value destruction for equity holders
  • Low interest coverage ratio suggests the company's operating earnings are insufficient to comfortably service its debt obligations
  • Dividend payout of only 10.9% of profits over the last 3 years with a yield of just 0.13% offers negligible income return to shareholders
  • Possible capitalization of interest costs could be flattering reported asset values and understating true operating expenses
  • 3-year ROE of just 3.49% is well below the cost of equity for most investors, implying the company is not generating adequate returns on deployed capital

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 4
  • Stock down 9% in 2026 Aug 18

    Biocon shares have declined over 9% YTD in 2026, though 3-year and 5-year returns remain positive at 19% and 39% respectively.

  • True North ₹638cr stake exit Sep 8

    Activ Pine LLP (True North affiliate) offloaded 1.65 crore shares (1.02% stake) at ₹385/share, a 1.9% discount to previous close, worth over ₹638 crore.

  • Mylan fully exits Biocon stake Aug 26

    Mylan Inc disposed of its entire 5.64% stake in Biocon via open market transaction on July 14, 2026, bringing its holding to nil.

  • Q1 FY27 revenue dips sequentially Aug 25

    Consolidated revenue fell to ₹4,336 crore in Q1 FY27 from ₹4,516.60 crore in Q4 FY26, and net profit dropped to ₹136.80 crore from ₹198.60 crore QoQ.

Positives 7
  • Japan approves pegfilgrastim biosimilar Aug 25

    Biocon Biologics received MHLW marketing approval for its pegfilgrastim biosimilar (Neulasta® reference) in Japan, with Sandoz K.K. as exclusive distribution partner.

  • FDA nod for Yesintek autoinjector Aug 18

    Biocon secured supplemental USFDA approval for Yesintek (ustekinumab-kfce) prefilled autoinjectors in 45mg and 90mg strengths for plaque psoriasis, Crohn's disease, and ulcerative colitis. Shares gained 2.05%.

  • Brazil PDP 100% Pertuzumab allocation Sep 8

    Biocon partnered with Bahiafarma and Bionovis, receiving 100% allocation under Brazil's 10-year PDP program for Pertuzumab, covering ~70% of Brazil's public healthcare demand for the drug.

  • 12 marquee investors buy block Sep 8

    ICICI Prudential MF led with 74.03 lakh shares (₹285 crore), followed by SBI MF (₹54.82 crore), Kotak AMC and ABSL AMC (₹49.16 crore each), plus Norges Bank and other global names.

  • Q1 FY27 profit surges 355% YoY Aug 25

    Consolidated net profit jumped 355% YoY to ₹141 crore in Q1 FY27 from ₹31 crore in Q1 FY26, with revenue up 10% YoY to ₹4,336 crore.

  • Biosimilars eyeing $1B revenue Sep 8

    Biocon expressed confidence its biosimilars business can reach $1 billion in revenue, targeting double-digit growth and mid-20% margins, with strong demand for insulin and aflibercept.

  • ₹0.50 final dividend for FY26 Sep 9

    Biocon declared a ₹0.50 per share final dividend for FY26, with record date of July 3, 2026, and remittance initiated to eligible shareholders.

Neutral 3
  • Investor roadshow Mumbai Sep 11 Sep 8

    Biocon scheduled an investor roadshow in Mumbai on September 11, 2026 with one-on-one and group meetings with analysts and institutional investors. No UPSI to be disclosed.

  • Nomura analyst meet Sep 4 Aug 31

    Biocon announced a virtual group meeting with analysts on September 4, 2026 as part of the Nomura Asian Credit Corporate Day 2026.

  • Hold recommendation at ₹399.90 Sep 2

    Rajesh Bhosale of My Advisor Alpha recommends holding Biocon at ₹399.90, noting the stock hovers near its 200-DMA support around ₹390 with a stop loss below that level.

TL;DR: Biocon is executing well on its global biosimilars strategy, securing key regulatory approvals in Japan (pegfilgrastim) and the US (Yesintek autoinjector), plus a strategic 10-year PDP deal in Brazil for Pertuzumab. Q1 FY27 profit surged 355% YoY, though sequential revenue and profit declined, and the stock remains down ~9% YTD. Major PE exits by True North and Mylan were absorbed by marquee institutional buyers including ICICI Prudential MF and Norges Bank, signaling strong institutional confidence. The trend is improving on fundamentals and pipeline, but near-term overhang from stake sales and sequential softness warrant monitoring.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
3,423
3,462
3,954
3,917
3,433
3,590
3,821
4,417
3,942
4,296
4,173
4,517
4,336
Expenses
2,741
2,745
3,051
3,004
2,812
2,905
3,070
3,339
3,176
3,460
3,340
3,496
3,489
Operating Profit
681
717
903
913
620
685
752
1,078
766
835
834
1,020
847
OPM %
20%
21%
23%
23%
18%
19%
20%
24%
19%
19%
20%
23%
20%
Other Income
94
134
587
40
1,166
58
53
57
62
81
-176
-28
41
Interest
233
248
267
227
236
226
223
212
277
272
210
232
213
Depreciation
358
389
414
407
405
420
425
436
455
473
515
513
547
PBT
184
214
808
319
1,146
98
156
487
97
171
-68
248
128
Tax %
19%
19%
7%
30%
25%
72%
48%
6%
8%
22%
-24%
20%
-7%
Net Profit
149
173
753
223
862
27
81
459
89
133
-52
199
137
EPS in Rs
0.84
1.05
5.5
1.13
5.49
-0.13
0.21
2.87
0.23
0.63
1.08
0.78
0.87
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
3,090
3,347
3,891
4,123
5,514
6,300
7,143
8,184
11,174
14,756
15,262
16,927
17,321
Expenses
2,394
2,957
2,912
3,294
4,121
4,696
5,562
6,391
8,762
11,540
12,008
13,456
13,785
Operating Profit
696
390
980
829
1,394
1,604
1,581
1,793
2,412
3,216
3,254
3,471
3,536
OPM %
23%
12%
25%
20%
25%
25%
22%
22%
22%
22%
21%
21%
20%
Other Income
158
639
173
228
340
199
260
72
18
853
1,217
-76
-82
Interest
9
29
26
62
71
65
58
68
419
974
897
990
927
Depreciation
221
249
277
385
448
552
715
814
1,113
1,569
1,687
1,957
2,049
PBT
624
751
850
610
1,215
1,186
1,068
983
897
1,525
1,887
448
479
Tax %
15%
19%
19%
26%
17%
27%
21%
22%
28%
15%
24%
18%
—
Net Profit
528
609
688
453
1,003
871
846
772
643
1,298
1,429
369
416
EPS in Rs
4.14
4.59
5.1
3.1
7.54
6.24
6.17
5.4
3.85
8.52
8.44
2.38
3.36
Div. Payout %
20%
18%
10%
16%
7%
0%
0%
9%
39%
6%
6%
21%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
100
100
100
300
300
600
600
600
600
600
600
810
Reserves
3,171
3,934
4,738
4,881
5,798
6,106
7,027
7,832
17,267
19,183
21,044
33,221
Borrowings
1,117
2,478
2,302
2,264
2,422
2,715
4,481
5,147
18,019
16,277
18,362
15,434
Other Liabilities
1,988
1,947
2,254
2,545
3,672
4,993
6,382
6,763
15,856
19,693
18,534
13,943
Total Liabilities
6,375
8,458
9,394
9,990
12,192
14,414
18,490
20,342
51,742
55,753
58,540
63,409
Fixed Assets
1,630
1,748
3,626
3,700
4,471
5,971
6,364
6,569
29,468
30,644
31,963
36,486
CWIP
1,677
2,240
839
1,303
1,899
2,196
2,800
4,110
7,317
7,993
8,508
6,987
Investments
230
902
1,253
675
1,012
966
1,952
1,588
2,069
1,000
1,127
1,779
Other Assets
2,839
3,569
3,676
4,312
4,811
5,281
7,374
8,074
12,888
16,117
16,941
18,157
Total Assets
6,375
8,458
9,394
9,990
12,192
14,414
18,490
20,342
51,742
55,753
58,540
63,409
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
211
371
640
662
1,155
1,283
1,160
1,177
1,852
2,954
4,061
1,994
Investing
-491
-1,138
-510
-684
-703
-1,505
-3,651
-1,662
-14,260
-1,002
-203
-1,883
Financing
186
1,068
-178
-240
-242
388
2,564
242
13,049
-2,333
-1,854
-924
Net Cash Flow
-94
300
-47
-261
210
165
72
-243
641
-380
2,004
-812
Free Cash Flow
-627
-246
32
-251
-337
-546
-577
-746
129
1,046
1,718
82
CFO/OP
49
158
86
104
104
101
86
80
86
101
139
64
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
91
78
83
94
86
71
77
92
117
154
131
129
Inventory Days
132
153
160
161
199
263
304
309
423
368
346
390
Days Payable
125
172
187
224
231
243
246
216
383
467
460
434
Cash Conversion Cycle
98
59
57
31
53
91
134
184
157
55
18
85
Working Capital Days
-19
-12
24
6
-2
-31
8
71
3
-68
-63
-17
ROCE %
12%
9%
12%
8%
13%
13%
10%
9%
6%
6%
6%
4%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Biocon insights

70 extracted metrics + investor summaries across FY04–FY26.

Log in — free

Shareholding Pattern

FIIs8.14%Promot.44.68%Public10.26%Others13.54%DIIs23.38%As ofJun 2026

Documents

Frequently Asked Questions about Biocon

What does Biocon Ltd do?
Biocon is engaged in the business of manufacture of biotechnology products and research services.(Source : 202003-01 Annual Report Page No:195)
Where is Biocon Ltd (BIOCON) listed?
Biocon Ltd trades as BIOCON on the NSE and under code 532523 on the BSE.
Which sector does Biocon Ltd belong to?
Biocon Ltd is classified under the Healthcare sector, in the Pharmaceuticals industry.
What is the market capitalisation of Biocon Ltd?
Biocon Ltd has a market capitalisation of ₹62,454 Cr, which places it in the Large Cap band.
What is the PE ratio of Biocon Ltd?
Biocon Ltd trades at a PE ratio of 116.26, on earnings per share of ₹13, against a book value of ₹211.51 per share.
What is the 52-week high and low of Biocon Ltd?
Over the last 52 weeks Biocon Ltd has traded between ₹337.05 and ₹447.15.
Does Biocon Ltd pay dividends?
Biocon Ltd has a dividend yield of 0.13%.
What is the Return on Equity (ROE) of Biocon Ltd?
Biocon Ltd reported a return on equity of 1.01%. Its debt-to-equity ratio is 0.45.

Company Information

Biocon is engaged in the business of manufacture of biotechnology products and research services.(Source : 202003-01 Annual Report Page No:195)

Website biocon.com
CEO Dr. Kiran Mazumdar-Shaw B.Sc (Hons), B.Sc.
Employees 16,420
Listed 2004-04-07
Face Value ₹ 5
Issued Size 1,33,69,63,635

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/BIOCON.md for Biocon Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our MCP server.

Explore More

More in Healthcare → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List