Pharmaceuticals & Biotechnology
Valuation | |
|---|---|
| Market Cap | 48.85 kCr |
| Price/Earnings (Trailing) | 91.12 |
| Price/Sales (Trailing) | 2.92 |
| EV/EBITDA | 16.41 |
| Price/Free Cashflow | 24.86 |
| MarketCap/EBT | 53.63 |
| Enterprise Value | 60.49 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | -0.40% |
| Price Change 1M | -5.6% |
| Price Change 6M | 6.4% |
| Price Change 1Y | -8% |
| 3Y Cumulative Return | 15.4% |
| 5Y Cumulative Return | -2.1% |
| 7Y Cumulative Return | 1.6% |
| 10Y Cumulative Return | 16.9% |
| Revenue (TTM) |
| 16.72 kCr |
| Rev. Growth (Yr) | 21.1% |
| Earnings (TTM) | 762.5 Cr |
| Earnings Growth (Yr) | 390% |
Profitability | |
|---|---|
| Operating Margin | 5% |
| EBT Margin | 5% |
| Return on Equity | 2.31% |
| Return on Assets | 1.21% |
| Free Cashflow Yield | 4.02% |
Cash Flow & Liquidity |
|---|
| Cash Flow from Investing (TTM) | -234.1 Cr |
| Cash Flow from Operations (TTM) | 4.06 kCr |
| Cash Flow from Financing (TTM) | -1.85 kCr |
| Cash & Equivalents | 4.27 kCr |
| Free Cash Flow (TTM) | 1.92 kCr |
| Free Cash Flow/Share (TTM) | 14.4 |
Balance Sheet | |
|---|---|
| Total Assets | 62.76 kCr |
| Total Liabilities | 29.7 kCr |
| Shareholder Equity | 33.06 kCr |
| Current Assets | 18.78 kCr |
| Current Liabilities | 16.25 kCr |
| Net PPE | 8.86 kCr |
| Inventory | 5.78 kCr |
| Goodwill | 17.46 kCr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.25 |
| Debt/Equity | 0.48 |
| Interest Coverage | -0.07 |
| Interest/Cashflow Ops | 5.33 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 0.5 |
| Dividend Yield | 0.13% |
| Shares Dilution (1Y) | 11.4% |
| Shares Dilution (3Y) | 11.4% |
Balance Sheet: Strong Balance Sheet.
Size: Market Cap wise it is among the top 20% companies of india.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
Past Returns: In past three years, the stock has provided 15.4% return compared to 13.2% by NIFTY 50.
Momentum: Stock is suffering a negative price momentum. Stock is down -5.6% in last 30 days.
Dilution: Company has a tendency to dilute it's stock investors.
Insider Trading: Significant insider selling noticed recently.
Technicals: SharesGuru indicator is Bearish.
Balance Sheet: Strong Balance Sheet.
Size: Market Cap wise it is among the top 20% companies of india.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
Past Returns: In past three years, the stock has provided 15.4% return compared to 13.2% by NIFTY 50.
Momentum: Stock is suffering a negative price momentum. Stock is down -5.6% in last 30 days.
Dilution: Company has a tendency to dilute it's stock investors.
Insider Trading: Significant insider selling noticed recently.
Technicals: SharesGuru indicator is Bearish.
Investor Care | |
|---|---|
| Dividend Yield | 0.13% |
| Dividend/Share (TTM) | 0.5 |
| Shares Dilution (1Y) | 11.4% |
| Earnings/Share (TTM) | 4.01 |
Financial Health | |
|---|---|
| Current Ratio | 1.16 |
| Debt/Equity | 0.48 |
Technical Indicators | |
|---|---|
| RSI (14d) | 38.53 |
| RSI (5d) | 44.35 |
| RSI (21d) | 36.43 |
| MACD Signal | Buy |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Sell |
| RSI Signal | Hold |
| RSI5 Signal | Hold |
| RSI21 Signal | Hold |
| SMA 5 Signal | Sell |
| SMA 10 Signal |
Updated May 5, 2025
Biocon Ltd. shares fell by 1.06% on Friday, with a 14% decline observed in 2025.
Biocon's current share price is Rs 317.7, reflecting a total return of just 2.14% over the past year, while down 14.75% over the last three years.
The stock has seen a return of -0.51% today and is down -5.63% in the past month.
Summary of Biocon's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Outlook and Major Points from Biocon Management:
1. Growth Transition and Visibility:
Management maintains a positive outlook, expecting a transition to growth in the second half of FY25 and into FY26. Improved visibility across all businesses is driven by regulatory clearances, new product launches, and operational execution.
2. Biosimilars Business:
3. Generics Business:
4. Research Services (Syngene):
5. Financial Highlights:
6. Strategic Focus:
Key Catalysts: New biosimilar launches (Stelara, Bevacizumab, Aspart), Liraglutide/Semaglutide rollouts, and Syngene's margin expansion.
Understand Biocon ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| KIRAN MAZUMDAR SHAW | 29.9% |
| GLENTEC INTERNATIONAL | 14.63% |
| SBI ARBITRAGE OPPORTUNITIES FUND | 6.99% |
| MYLAN INC. | 5.67% |
| LICI CHILD FORTUNE PLUS GROWTH FUND | 3.85% |
| SERUM INSTITUTE LIFE SCIENCES PRIVATE LIMITED | 3.42% |
| ICICI PRUDENTIAL EQUITY ARBITRAGE FUND | 2.59% |
Detailed comparison of Biocon against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| SUNPHARMA | Sun Pharmaceutical Industries | 4.07 LCr | 58.94 kCr | -4.90% | -2.70% | 37.25 | 6.9 | - | - |
| DIVISLAB | Divi's Lab | 1.6 LCr |
Comprehensive comparison against sector averages
BIOCON metrics compared to Pharmaceuticals
| Category | BIOCON | Pharmaceuticals |
|---|---|---|
| PE | 91.12 | 33.54 |
| PS | 2.92 | 4.66 |
| Growth | 0.3 % | 9.1 % |
Biocon is a prominent Pharmaceuticals company with the stock ticker BIOCON.
The company boasts a market capitalization of Rs. 38,521.3 Crores and was incorporated in 1978. Its headquarters is located in Bengaluru, India. Biocon engages in the manufacture and sale of biotechnology products as well as research services, operating not just in India but also in Brazil, Singapore, and across the globe.
Biocon functions through four primary segments:
The company's product offerings include a variety of generic formulations and API products, targeting areas such as anti-diabetics, immunosuppressants, multiple sclerosis, and oncology. Additionally, it has developed novel biologics products, including a head and neck cancer molecule and psoriasis molecules. Its biosimilars portfolio includes insulins, trastuzumab, pegfilgrastim, and bevacizumab.
Biocon also provides integrated discovery, development, and manufacturing services to a diverse range of sectors, including pharmaceutical, biotechnology, animal healthcare, consumer goods, and agrochemicals.
In the past year, Biocon has reported a trailing revenue of Rs. 16,012.2 Crores, demonstrating an impressive revenue growth of 99.7% over the last three years. The company also offers a dividend to its investors, with a yield of 0.52% per year and a recent dividend payout of Rs. 2 per share.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Sell |
| SMA 20 Signal | Sell |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
BIOCON vs Pharmaceuticals (2021 - 2026)
Biocon Biologics has secured multiple market access agreements for its biosimilar Yesintek, covering over 100 million lives in the US.
Press Release / Media Release • 07 Feb 2026 Press Release |
General • 30 Jan 2026 Buyback of Commercial Papers |
General • 28 Jan 2026 Notification to Stock Exchanges |
General • 28 Jan 2026 Intimation of Record Date for Buy Back of Listed Commercial Paper issued by the Company |
General • 28 Jan 2026 Intimation of Record Date for Buy Back of Listed Commercial Paper issued by the Company |
Press Release / Media Release • 28 Jan 2026 Press Release |
This information is AI-generated and may contain inaccuracies. Please verify from multiple sources.
Question 1 (Damayanti Kerai - HSBC):
What is the potential uptake expectation for biosimilar Ustekinumab (Stelara) in the U.S., considering it is a Part D product and dynamics similar to Humira biosimilars?
Answer:
Biocon anticipates strong global uptake for Ustekinumab, leveraging competitive positioning and lessons from prior biosimilar launches. The U.S. team emphasized strategic customer engagement and confidence in immunology portfolio synergies. Margins remain stable despite forex impacts, with growth driven by volume, not low-margin channels.
Question 2 (Neha Manpuria - BofA):
What is Biocon's diluted stake in Biocon Biologics (BBL) post the 1.5% stake purchase, and how is net debt impacted? What drives Generics' recovery?
Answer:
Biocon's stake in BBL increased to ~72%. Net debt rose to ~USD 1.3B due to bridge loans. Generics growth will stem from Liraglutide launches in EU/U.K. (Q4 FY25) and the U.S. (mid-CY25), alongside API volume recovery and new U.S. product launches, targeting mid-teens growth in FY26.
Question 3 (Shyam Srinivasan - Goldman Sachs):
Why don't biosimilar revenue growth rates align with market share gains? How is capital allocation balancing debt and subsidiary stakes?
Answer:
Revenue-growth vs. market-share disparity reflects expected price erosion and divested India Branded Formulations' impact. Debt management prioritizes growth investments (e.g., facility clearances, product launches), with Syngene stake maintained at ~52%. BBL's IPO remains a debt-reduction lever.
Question 4 (Amey Chalke - JM Financial):
What is Biocon's status on Semaglutide (Sema) development, and how will insulin capacity expansion aid growth?
Answer:
Sema development is progressing, with U.S. DMF filings, bioequivalence studies, and planned FY26 submissions. Insulin drug-product capacity will double by Q1 FY26, supporting global demand. Biocon aims to be a top insulin player, leveraging vertical integration and device strategies.
Question 5 (Love Sharma - JP Morgan):
How are investor liquidity options tied to BBL's IPO being managed, and how was the Viatris settlement funded?
Answer:
Biocon is aligning with investors via ongoing discussions, with an IPO remaining a key option. The USD 160M Viatris milestone payment was settled using existing liquidity and receivables adjustments, closing all deferred obligations.
Question 6 (Surya Patra - Phillip Capital):
How prepared is Biocon for Ustekinumab's launch, and what is Denosumab's timeline? How critical are China's Tacrolimus approval and the Cranbury facility?
Answer:
Ustekinumab's U.S. launch preparations include pre-negotiated contracts and Part D strategies. Denosumab's filings are underway globally, targeting 2026 launches. Tacrolimus in China and the Cranbury facility enhance market access and U.S. government contract eligibility, respectively.
Question 7 (Vivek Agrawal - Citi):
Are biosimilar margins conservative given new launches, and what are Semaglutide's approval timelines?
Answer:
Margins (22-23%) reflect R&D investments but may improve with high-value launches like Ustekinumab. Semaglutide approvals in Canada, Brazil, and India are expected from late 2026, with U.S./EU filings progressing.
Question 8 (Nitin Agarwal - DAM Capital):
What is Biosimilars' geographic revenue split, and how will insulin compete amid GLP-1 focus?
Answer:
Revenue splits: ~40% North America, ~35% Europe/Japan/Australia, ~25% emerging markets. Insulin demand remains robust despite GLP-1 buzz, with Biocon's integrated capacity and device strategy securing long-term competitiveness.
Question 9 (Bharat Seth - Quest):
What is Biosimilars' long-term growth outlook, and how will Generics improve margins?
Answer:
Biosimilars aim for 75%+ CAGR (FY23-FY28) via 5 U.S. and 3 global launches. Generics' margin recovery (10-14%) hinges on Liraglutide/Semaglutide launches, cost optimization, and Vizag facility utilization.
Question 10 (Alankar Garude - Kotak):
How will R&D spends trend, and what is the Vizag facility's role?
Answer:
R&D (7-9% of revenue) will fluctuate with clinical trial phases. Vizag diversifies API production, serving captive and external customers, with new immunosuppressant products enhancing utilization.
| KOTAK LARGE & MIDCAP FUND | 1.31% |
| NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA PHA | 1.25% |
| MIRAE ASSET NIFTY MIDCAP 150 ETF | 1.19% |
| ACTIV PINE LLP | 1.09% |
| BENEFICIAL HOLDINGS UNDER MGT-4 | 0.34% |
| RAVI RASENDRA MAZUMDAR | 0.33% |
| DEV MAZUMDAR | 0.06% |
| Glenloch Properties LLP | 0% |
| Mazumdar Shaw Medical Foundation | 0% |
| Carica Investment | 0% |
| Jeeves | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
| 10.46 kCr |
| -9.30% |
| -1.60% |
| 64.37 |
| 15.29 |
| - |
| - |
| CIPLA | Cipla | 1.07 LCr | 29.37 kCr | -9.40% | -9.60% | 23.62 | 3.66 | - | - |
| DRREDDY | Dr. Reddy's Lab | 1.04 LCr | 36.09 kCr | -0.10% | +0.40% | 18.56 | 2.87 | - | - |
| LUPIN | Lupin | 99.29 kCr | 25.03 kCr | -1.80% | -0.50% | 22.94 | 3.97 | - | - |
| AUROPHARMA | Aurobindo Pharma | 69.17 kCr | 33.03 kCr | -3.60% | -0.10% | 20.21 | 2.09 | - | - |
Analysis of Biocon's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Sep 30, 2025
| Description | Share | Value |
|---|---|---|
| Biosimilars | 61.8% | 2.7 kCr |
| CRDMO | 20.7% | 910.6 Cr |
| Generics | 17.6% | 773.6 Cr |
| Total |
| 7.1% |
| 4,205 |
| 3,925 |
| 3,988 |
| 3,718 |
| 3,550 |
| 3,454 |
| Profit Before exceptional items and Tax | 89.6% | 183 | 97 | 466 | 138 | 72 | 1,114 |
| Exceptional items before tax | - | -11.9 | 0 | 20 | 18 | 26 | 32 |
| Total profit before tax | 77.1% | 171 | 97 | 487 | 156 | 98 | 1,146 |
| Current tax | -12.1% | 59 | 67 | 6.1 | 114 | 24 | 225 |
| Deferred tax | 63.7% | -20.8 | -59 | 21 | -38.8 | 47 | 58 |
| Total tax | 452.2% | 38 | 7.7 | 27 | 75 | 71 | 284 |
| Total profit (loss) for period | 50% | 133 | 89 | 459 | 81 | 27 | 862 |
| Other comp. income net of taxes | 569.2% | 970 | -205.5 | -183.8 | 57 | 522 | 42 |
| Total Comprehensive Income | 1039.5% | 1,103 | -116.3 | 276 | 138 | 549 | 903 |
| Earnings Per Share, Basic | 54.1% | 0.66 | 0.26 | 2.88 | 0.21 | -0.13 | 5.51 |
| Earnings Per Share, Diluted | 52.7% | 0.65 | 0.26 | 2.87 | 0.21 | -0.13 | 5.51 |
| 10.9% |
| 501 |
| 452 |
| 434 |
| 368 |
| 390 |
| 345 |
| Finance costs | 19.2% | 237 | 199 | 70 | 0.4 | 0.4 | 1.2 |
| Depreciation and Amortization | 5.8% | 128 | 121 | 117 | 108 | 104 | 98 |
| Other expenses | 11.9% | 535 | 478 | 551 | 501 | 527 | 530 |
| Total Expenses | 11.4% | 2,432 | 2,184 | 2,156 | 1,786 | 1,820 | 1,802 |
| Profit Before exceptional items and Tax | -61.5% | 53 | 136 | 108 | 140 | 359 | 388 |
| Exceptional items before tax | 4569.2% | 608 | 14 | 2,863 | 0 | 0 | 160 |
| Total profit before tax | 343% | 661 | 150 | 2,971 | 140 | 359 | 548 |
| Current tax | 114.3% | 31 | 15 | 123 | 54 | 78 | 112 |
| Deferred tax | 33.3% | 21 | 16 | 0 | 0 | 0 | 0 |
| Total tax | 70% | 52 | 31 | 123 | 54 | 78 | 112 |
| Total profit (loss) for period | 415.3% | 609 | 119 | 2,848 | 86 | 280 | 441 |
| Other comp. income net of taxes | -688.2% | -12.4 | -0.7 | 0.9 | 8 | 2.4 | -7.7 |
| Total Comprehensive Income | 405.1% | 597 | 119 | 2,849 | 94 | 283 | 433 |
| Earnings Per Share, Basic | - | 5.09 | 1 | 23.87 | 0.72 | 2.36 | 3.72 |
| Earnings Per Share, Diluted | - | 5.09 | 1 | 23.82 | 0.72 | 2.34 | 3.71 |
| 19.7% |
| 822 |
| 687 |
| 579 |
| 545 |
| 464 |
| 329 |
| Investment property | -3.8% | 52 | 54 | 56 | 58 | 60 | 62 |
| Goodwill | - | 0 | 0 | 38 | 0 | 0 | 0 |
| Non-current investments | 16.7% | 13,285 | 11,383 | 10,038 | 9,256 | 9,144 | 8,950 |
| Loans, non-current | - | 0 | 0 | 0 | 0 | 0 | 0 |
| Total non-current financial assets | 15.2% | 13,305 | 11,548 | 10,062 | 9,410 | 9,293 | 9,093 |
| Total non-current assets | 14.6% | 15,418 | 13,451 | 11,990 | 11,008 | 10,801 | 10,464 |
| Total assets | 26.9% | 19,821 | 15,621 | 14,170 | 13,768 | 13,682 | 13,030 |
| Borrowings, non-current | -96.1% | 89 | 2,252 | 2,131 | 2,041 | 1,919 | 1,298 |
| Total non-current financial liabilities | -95.9% | 93 | 2,255 | 2,154 | 2,064 | 1,936 | 1,318 |
| Provisions, non-current | 25% | 41 | 33 | 32 | 28 | 28 | 25 |
| Total non-current liabilities | -90.9% | 215 | 2,360 | 2,264 | 2,165 | 2,030 | 1,416 |
| Borrowings, current | 295.6% | 2,450 | 620 | 52 | 0 | 0 | 0 |
| Total current financial liabilities | 119.4% | 3,443 | 1,570 | 837 | 527 | 641 | 543 |
| Provisions, current | 12.1% | 38 | 34 | 35 | 32 | 30 | 28 |
| Current tax liabilities | 1% | 107 | 106 | 102 | 101 | 100 | 97 |
| Total current liabilities | 108.6% | 3,623 | 1,737 | 1,016 | 691 | 800 | 698 |
| Total liabilities | -6.3% | 3,838 | 4,097 | 3,280 | 2,856 | 2,830 | 2,114 |
| Equity share capital | 11.4% | 668 | 600 | 600 | 600 | 600 | 600 |
| Total equity | 38.7% | 15,983 | 11,524 | 10,890 | 10,912 | 10,852 | 10,916 |
| Total equity and liabilities | 26.9% | 19,821 | 15,621 | 14,170 | 13,768 | 13,682 | 13,030 |
| 96.5% |
| 0 |
| -27.4 |
| -49.5 |
| 0 |
| - |
| - |
| Interest received | 98.5% | 0 | -65.7 | 0 | 0 | - | - |
| Income taxes paid (refund) | 55.6% | 43 | 28 | 41 | 28 | - | - |
| Net Cashflows From Operating Activities | 599.2% | 621 | -123.2 | 219 | 48 | - | - |
| Cashflows used in obtaining control of subsidiaries | - | 0 | 0 | 4,071 | 0 | - | - |
| Proceeds from sales of PPE | -433.3% | 0 | 1.3 | 2.6 | 2.1 | - | - |
| Purchase of property, plant and equipment | 5% | 317 | 302 | 262 | 239 | - | - |
| Purchase of investment property | - | 0 | 0 | 0 | 1,106 | - | - |
| Purchase of intangible assets | -16.3% | 4.6 | 5.3 | 4.9 | 7.5 | - | - |
| Cash receipts from repayment of advances and loans made to other parties | - | 0 | 0 | 22 | 3 | - | - |
| Dividends received | 11.5% | 30 | 27 | 50 | 0 | - | - |
| Interest received | 7.3% | 45 | 42 | 46 | 28 | - | - |
| Other inflows (outflows) of cash | 7.8% | 607 | 563 | -375.8 | 1,110 | - | - |
| Net Cashflows From Investing Activities | -232.9% | -989 | -296.4 | -1,177.8 | -305.6 | - | - |
| Payments to acquire or redeem entity's shares | - | 0 | 0 | 65 | 0.3 | - | - |
| Proceeds from exercise of stock options | -70.3% | 9.9 | 31 | 30 | 43 | - | - |
| Proceeds from issuing debt | - | 0 | 0 | 1,070 | 0 | - | - |
| Proceeds from borrowings | 11.6% | 558 | 500 | 2,632 | 73 | - | - |
| Repayments of borrowings | - | 0 | 0 | 2,515 | 0.7 | - | - |
| Payments of lease liabilities | 333.3% | 2.3 | 1.3 | 0 | 0 | - | - |
| Dividends paid | -67% | 60 | 180 | 60 | 0 | - | - |
| Interest paid | 112.8% | 11 | 5.7 | 51 | 1.4 | - | - |
| Net Cashflows from Financing Activities | 44% | 495 | 344 | 1,039 | 112 | - | - |
| Effect of exchange rate on cash eq. | -200% | 0.3 | 1.7 | 4.7 | 3.5 | - | - |
| Net change in cash and cash eq. | 267.3% | 127 | -74.3 | 86 | -142.5 | - | - |
General • 21 Jan 2026 Certificate under SEBI Master Circular dated October 15, 2025 |
| 4.4 kCr |