Pharmaceuticals & Biotechnology
Biocon is a prominent pharmaceuticals company based in India, with the stock ticker BIOCON. The company boasts a market capitalization of Rs. 40,064 Crores.
Biocon Limited, along with its subsidiaries, specializes in the manufacture and sale of biotechnology products and research services across various markets including India, Brazil, Singapore, and beyond. The company operates through four key segments: Generics, Novel Biologics, Biosimilars, and Research Services.
In the Generics segment, Biocon provides a range of products such as generic formulations and Active Pharmaceutical Ingredients (API) which include anti-diabetics, immunosuppressants, and cancer therapies. The Novel Biologics arm focuses on innovative treatments, including molecules targeting head and neck cancer and psoriasis. Furthermore, the Biosimilars segment offers products like insulins, trastuzumab, pegfilgrastim, and bevacizumab.
Biocon also delivers integrated discovery, development, and manufacturing services to various sectors including pharmaceuticals, biotechnology, animal healthcare, consumer goods, and agrochemicals. Established in 1978, the company is headquartered in Bengaluru, India.
Over the last twelve months, Biocon recorded a revenue of Rs. 16,012.2 Crores and has exhibited impressive revenue growth of 99.7% over the past three years. The company is committed to returning value to its shareholders, offering a dividend yield of 0.52% annually, with a recent distribution of Rs. 2 per share.
Valuation | |
---|---|
Market Cap | 42.67 kCr |
Price/Earnings (Trailing) | 35.77 |
Price/Sales (Trailing) | 2.66 |
EV/EBITDA | 9.94 |
Price/Free Cashflow | 31.26 |
MarketCap/EBT | 24.79 |
Fundamentals | |
---|---|
Revenue (TTM) | 16.01 kCr |
Rev. Growth (Yr) | -14.67% |
Rev. Growth (Qtr) | 6.44% |
Earnings (TTM) | 1.19 kCr |
Earnings Growth (Yr) | -89.23% |
Earnings Growth (Qtr) | 199.26% |
Profitability | |
---|---|
Operating Margin | 10.33% |
EBT Margin | 10.75% |
Return on Equity | 4.46% |
Return on Assets | 2.09% |
Free Cashflow Yield | 3.2% |
Analysis of Biocon's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Mar 31, 2025
Description | Share | Value |
---|---|---|
Biosimilars | 54.4% | 2.5 kCr |
Generics | 23.1% | 1 kCr |
Research Services | 22.5% | 1 kCr |
Total | 4.5 kCr |
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Momentum: Stock price has a strong positive momentum. Stock is up 3.6% in last 30 days.
Balance Sheet: Reasonably good balance sheet.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
Size: Market Cap wise it is among the top 20% companies of india.
Technicals: Bullish SharesGuru indicator.
No major cons observed.
Comprehensive comparison against sector averages
BIOCON metrics compared to Pharmaceuticals
Category | BIOCON | Pharmaceuticals |
---|---|---|
PE | 35.77 | 37.97 |
PS | 2.66 | 5.34 |
Growth | 2.7 % | 7.2 % |
BIOCON vs Pharmaceuticals (2021 - 2025)
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.
Last updated: Feb 25
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.
Last updated: Feb 25
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.
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.
Biocon Biologics has secured multiple market access agreements for its biosimilar Yesintek, covering over 100 million lives in the US.
Biocon's share price rose by 2.26% following positive opinions from the European CHMP for its biosimilar denosumab candidates.
Biocon's board has approved raising up to Rs 4,500 crore through various means, marking a significant financial maneuver.
This information is AI-generated and may contain inaccuracies. Please verify from multiple sources.
Understand Biocon ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
Shareholder Name | Holding % |
---|---|
KIRAN MAZUMDAR SHAW | 40.36% |
GLENTEC INTERNATIONAL | 19.76% |
LICI ULIP-GROWTH FUND | 5.34% |
SBI HEALTHCARE OPPORTUNITIES FUND | 3.43% |
KOTAK EQUITY OPPORTUNITIES FUND | 1.28% |
NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA VIS | 1.25% |
ARUN SURESH CHANDAVARKAR | 1.1% |
Others | 0.46% |
RAVI RASENDRA MAZUMDAR | 0.44% |
DEV MAZUMDAR | 0.08% |
Distribution across major stakeholders
Distribution across major institutional holders
Investor Care | |
---|---|
Dividend Yield | 0.52% |
Dividend/Share (TTM) | 2 |
Shares Dilution (1Y) | 0.00% |
Diluted EPS (TTM) | 6.72 |
Financial Health | |
---|---|
Current Ratio | 0.96 |
Debt/Equity | 0.6 |
Debt/Cashflow | 0.18 |
General • 16 Jun 2025 Qualified Institutions Placement of equity shares |
General • 16 Jun 2025 Intimation of the approval of the audited consolidated financial statements for the financial year March 31, 2025 |
Press Release / Media Release • 09 Jun 2025 Press Release dated June 09, 2025 |
General • 02 Jun 2025 Press Release |
General • 27 May 2025 Reminder Letter to holders of physical securities for furnishing of KYC details |
General • 25 May 2025 Company Statement |
General • 22 May 2025 Company Statement |
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 IndustriesPharmaceuticals | 4.05 LCr | 53.56 kCr | -4.71% | +9.04% | 35.31 | 7.56 | +10.28% | +28.38% |
DIVISLAB | Divi's LabPharmaceuticals | 1.77 LCr | 9.42 kCr | +4.12% | +42.48% | 85.63 | 18.78 | +20.50% | +49.46% |
CIPLA | CiplaPharmaceuticals | 1.22 LCr | 27.8 kCr | +0.14% | +2.61% | 24.38 | 4.37 | +7.01% | +33.22% |
DRREDDY | Dr. Reddy's LabPharmaceuticals | 1.14 LCr | 32.07 kCr | +7.17% | +8.38% | 20.87 | 3.55 | +14.31% | +4.21% |
LUPIN | LupinPharmaceuticals | 88.48 kCr | 22.19 kCr | -6.30% | +20.82% | 30.59 | 3.99 | +13.18% | +59.81% |
AUROPHARMA | Aurobindo PharmaPharmaceuticals | 64.49 kCr | 31.57 kCr | -7.57% | -11.81% | 18.49 | 2.04 | +10.80% | +26.04% |