BIOCONHealthcare

Biocon Limited

Pharmaceuticals · ISIN INE376G01013 · BSE 532523 · NSE EQ · FV ₹5
Last price
₹380
+1.50%today
What this company does

Biocon Limited operates in Pharmaceuticals, part of the Healthcare sector. It booked ₹4,336 cr of revenue in its latest quarter (Q1 FY27) and kept 3.3% of sales as profit.

38out of 100
Equitytale Health Score
Strained

Healthier than 38% of companies in Healthcare, on all six measures of filed financials. Each measure is ranked against the 13–150 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
oversold
RSI (14)
28

At close. Not part of the score.

Profitability & returns13

How much profit it earns on the money it employs

Balance sheet20

How much it owes, and whether earnings cover the interest

Cash quality87

Whether reported profit actually arrives as cash

Growth & consistency55

Whether sales and profit have grown, and how steadily

Valuation0

What today's price implies, against our models or its peers · lowest in its sector on what we could measure

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 10% vs last year
Profit up 349% vs last year
Promoters hold 45%
No promoter shares pledged
Turns profit into real cash
Watch-outs
! Thin 3.3% net margin
! Low 1.7% return on equity

What if I invest in BIOCON?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹380 +1.50%
latest close · 2026-09-17
1-year return
+11.4%
52-wk low ₹30852-wk high ₹443
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio109.2High
LowAverageHigh
P/B ratio1.82Moderate
Below bookModerateHigh
EV / EBITDA20.9High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity1.7%Weak
WeakFairStrong ▸15%
Return on capital2.7%Weak
WeakFairStrong
Net margin3.3%Thin
ThinDecentStrong
EBITDA margin20.5%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.40Comfortable
LowModerateHigh ▸1
Interest cover1.6×Risky
RiskyOkayStrong ▸5×
Current ratio1.22Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹61,925 cr
Book value
₹209
EPS
₹0.87
latest quarter
Net debt
₹12,408 cr
owes more than its cash
Enterprise value
₹74,333 cr
EBITDA
₹3,553 cr
annualised
EBIT
₹1,363 cr
annualised
Operating margin
7.9%
Return on assets
0.9%
Earnings yield
0.92%
P/S
3.57
Sales / share
₹106.4
Tax rate
-7.2%
Face value
₹5
Shares
163.0 cr
Working capital
₹3,111 cr
Current assets
₹17,180 cr
Current liabilities
₹14,069 cr
Delivery %
50.8%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the exchange filings
not investment advice
Looks overpricedMedium confidence
Median of 2 models ₹153 vs market price ₹380 — price is 148% above it
Safety cushion-148.1%(target ≥ +20%)
Models span ₹147₹160, midpoint ₹153
Model ₹153
Price ₹380
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹4,336 cr
Other Income₹55 cr
Total Income₹4,391 cr
Cost of Materials₹1,424 cr
Purchases of Stock-in-Trade₹382 cr
Inventory Change (±)₹-338 cr
Employee Benefit Expense₹916 cr
Finance Costs₹213 cr
Depreciation & Amortisation₹547 cr
Other Expenses₹1,105 cr
Total Expenses₹4,249 cr
Exceptional Items₹-14 cr
Profit before Tax₹128 cr
Tax Expense₹-9 cr
Net Profit₹137 cr
Net margin on total income3.1%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹1,468 cr33.5%
Employee benefit expense₹916 cr20.9%
Finance costs₹213 cr4.9%
Depreciation & amortisation₹547 cr12.5%
Other expenses₹1,105 cr25.2%
Profit for the period₹137 cr3.1%
Total income ₹4,391 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue4,173 cr4,517 cr4,336 cr
Total income4,290 cr4,569 cr4,391 cr
Expenses4,065 cr4,241 cr4,249 cr
Profit before tax-68 cr248 cr128 cr
Tax-16 cr49 cr-9 cr
Net profit (owners' share)144 cr126 cr141 cr
Net margin (owners' share, on revenue)3.4%2.8%3.3%
EPS (₹)1.080.790.87
YoY (latest quarter): total income +9.2% · net profit +349.4%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹63,651 cr
Shareholder equity
₹34,032 cr
parent shareholders
Total debt
₹14,825 cr
Cash
₹2,417 cr
Cash flow · H1 FY26
Operating
₹803 cr
Investing
₹-1,276 cr
Financing
₹1,403 cr
Peer comparison
Pharmaceuticals · by market value
CompanyPriceMarket capP/E
Sun Pharmaceutical Industries Limited₹1,867₹4.48 L cr38.6
Divi's Laboratories Limited₹9,323₹2.47 L cr68.7
Torrent Pharmaceuticals Limited₹4,875₹1.65 L cr82.0
Zydus Lifesciences Limited₹1,135₹1.13 L cr30.4
Cipla Limited₹1,376₹1.11 L cr35.2
Laurus Labs Limited₹1,948₹1.05 L cr71.5
Dr. Reddy's Laboratories Limited₹1,175₹98,113 cr55.1
Aurobindo Pharma Limited₹1,690₹97,243 cr23.7
Lupin Limited₹2,098₹95,936 cr16.9
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.13%
trailing 12 months
Dividend / share (TTM)
₹0.5
Last dividend
₹0.5
ex 3 Jul 2026
ActionDetailEx-date
Dividend₹0.5 / share3 Jul 2026
Dividend₹0.5 / share4 Jul 2025
Dividend₹0.5 / share5 Jul 2024
Dividend₹1.5 / share7 Jul 2023
Dividend₹0.5 / share30 Jun 2022
Dividend₹0.5 / share18 Jul 2019
Who owns it · 2026-06-30
No pledge
Promoter
44.7%
FII / Foreign
8.1%
DII / Domestic
23.4%
Retail / others
23.8%
Promoter stake down 16.0% over the last 12 quarters.
Smart-money activity
Insider trades
SoldAkhilesh Nand · Employees/Designated Employees11,000 · ₹28.7 L28 Mar 24
SoldKIRAN KUMAR GANDHIRAJAN · Employees/Designated Employees19,998 · ₹52.9 L28 Mar 24
SoldNEHAL VORA · Employees/Designated Employees61,827 · ₹1.6 cr28 Mar 24
Bulk / block deals
short · NSE5,0008 Sep 26
short · NSE2,1004 Sep 26
short · NSE2527 Aug 26
Stake changes
SoldMylan Inc.→ 0.00% · 9.20 cr14 Jul 26
BoughtSBI Mutual Fund under its Various Schemes→ 7.03% · 3.35 cr16 Jan 26
BoughtMylan Inc→ 6.88% · 9.20 cr5 Jan 26
Promoter pledges
ReleasedCanara Bank10,000 · 0.00% held22 Aug 17
ReleasedCanara Bank20,000 · 0.00% held21 Aug 17
ReleasedCanara Bank40,000 · 0.01% held9 Aug 17
What shareholders were asked to approve
6 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 6 Aug 2026
See the official result
1
To receive, consider and adopt the Audited Financial Statements (including audited consolidated financial statements) of the Company for the Financial Year ended March 31, 2026 and the reports of the Board of Directors and Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
62.44 cr votes for, 1,830 against · 0% of mutual funds and other big investors said no
2
To declare final dividend of 10% i.e. ₹ 0.50 per equity share for the Financial Year ended March 31, 2026.
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
62.45 cr votes for, 2,278 against · 0% of mutual funds and other big investors said no
3
To appoint Eric Vivek Mazumdar (DIN: 09381549) as Director, liable to retire by rotation, and being eligible, offers himself for re-appointment.
Promoters had a personal stake in this
Backed by 99% of shareholders other than promotersneeded 50%
61.81 cr votes for, 64.78 L against · 1% of mutual funds and other big investors said no
4
To approve the appointment of S.R. Batliboi & Associates LLP, Chartered Accountants, as Statutory Auditors of the Company.
Backed by 99% of shareholders other than promotersneeded 50%
61.79 cr votes for, 66.71 L against · 1% of mutual funds and other big investors said no
5
To consider and approve the formulation, adoption and implementation of the Biocon Unity Long Term Incentive Plan 2026 including, Biocon Limited Performance Stock Unit Plan 2026, Biocon Limited Restricted Stock Unit Plan 2026, Biocon Limited Employee Stock Purchase Plan 2026 and Biocon Limited Management Stock Unit Plan 2026 (also named as Biocon Unity “Growth Accelerator” Plan 2026) (“Plans”) and grant of performance stock units, restricted stock units, offer for employee stock purchase, management stock units or any other equity-based incentives introduced by the Company under the Plans to eligible employees of the Company.
⚑ Passed only because promoters voted yes
Backed by 56% of shareholders other than promotersneeded 75%
35.26 cr votes for, 27.19 cr against · 51% of mutual funds and other big investors said no
6
To consider and approve granting of performance stock units, restricted stock units, offer for employee stock purchase, management stock units or any other equity-based incentives introduced by the Company under the Biocon Unity Long Term Incentive Plan 2026 including, Biocon Limited Performance Stock Unit Plan 2026, Biocon Limited Restricted Stock Unit Plan 2026, Biocon Limited Employee Stock Purchase Plan 2026 and Biocon Limited Management Stock Unit Plan 2026 (also named as Biocon Unity “Growth Accelerator” Plan 2026) to the Eligible Employees of the Present and Future Subsidiary Company(ies), Associate Company(ies) or Holding Company, if any, of the Company.
⚑ Passed only because promoters voted yes
Backed by 56% of shareholders other than promotersneeded 75%
35.27 cr votes for, 27.18 cr against · 51% of mutual funds and other big investors said no
7
To consider and grant authorization to the Biocon India Limited Employees Welfare Trust for Secondary Acquisition for implementation of the Biocon Unity Long Term Incentive Plan 2026 including, Biocon Limited Performance Stock Unit Plan 2026, Biocon Limited Restricted Stock Unit Plan 2026, Biocon Limited Employee Stock Purchase Plan 2026 and Biocon Limited Management Stock Unit Plan 2026 (also named as Biocon Unity “Growth Accelerator” Plan 2026).
⚑ Passed only because promoters voted yes
Backed by 57% of shareholders other than promotersneeded 75%
35.50 cr votes for, 26.95 cr against · 51% of mutual funds and other big investors said no
8
To approve providing financial assistance by the Company to Biocon India Limited Employees Welfare Trust to enable acquisition or subscription of equity shares of the Company for implementation of the Biocon Unity Long Term Incentive Plan 2026 including, Biocon Limited Performance Stock Unit Plan 2026, Biocon Limited Restricted Stock Unit Plan 2026, Biocon Limited Employee Stock Purchase Plan 2026 and Biocon Limited Management Stock Unit Plan 2026 (also named as Biocon Unity “Growth Accelerator” Plan 2026).
⚑ Passed only because promoters voted yes
Backed by 57% of shareholders other than promotersneeded 75%
35.50 cr votes for, 26.95 cr against · 51% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 8 named members
owning 44.7% between them · as of 2026-06-30
KIRAN MAZUMDAR SHAW29.73%
GLENTEC INTERNATIONAL14.56%
RAVI RASENDRA MAZUMDAR0.33%
DEV MAZUMDAR0.06%
Carica Investmentno shares
Glenloch Properties LLPno shares
Jeevesno shares
Mazumdar Shaw Medical Foundationno shares

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹4,150 cr raised in Jan 2026 by selling shares to large investors

As of Jun 2026, the company says it has spent 99% of what it set aside, leaving ₹23 cr still to be spent. India Ratings & Research Private Limited watches the spending on the exchange’s behalf.

Payment of cash consideration to Mylan Inc. (“Mylan”) for acquisition of shares of Biocon Biologics Limited (“Biocon Biologics”), our Subsidiary, including repayment of debt availed in this regard
100%
₹3,604 cr of ₹3,620 cr
Re-payment of debt availed in respect of the acquisition of compulsorily convertible debentures (“CCDs”) of Biocon Biologics, our Subsidiary, held by ESOF III Investment Fund and EAAA India Alternatives Limited (formerly known as Edelweiss Alternative Asset Advisors Limited) (collectively referred to as “Edelweiss”)
100%
₹409 cr of ₹410 cr
General Corporate Purposes
originally ₹50 cr
budget changed
100%
₹73 cr of ₹73 cr
Issue related expenses
92%
₹64 cr of ₹70 cr
₹4,500 cr raised in Jun 2025 by selling shares to large investors

As of Mar 2026, the company says it has spent 100% of what it set aside, leaving ₹14 cr still to be spent. India Ratings & Research Private Limited watches the spending on the exchange’s behalf.

Purchase of outstanding optionally convertible debentures issued by our Subsidiary, Biocon Biologics Limited from Goldman Sachs India AIF Scheme – 1 and Goldman Sachs India Alternative Investment Trust AIF Scheme – 2
99%
₹1,698 cr of ₹1,710 cr
Repayment, pre-payment or redemption, in full or in part, of certain outstanding financial instruments issued by our Company, borrowings availed by our Company, and/or meeting other financial commitments of our Company
100%
₹2,715 cr of ₹2,715 cr
General Corporate Purposes
originally ₹5 cr
budget changed
100%
₹19 cr of ₹19 cr
Issue related expenses
98%
₹68 cr of ₹70 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.