Biocon Ltd

BIOCON

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Market Cap

₹ 52,215 Cr

P/E

111.27

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bullish

Risk

HIGH RISK

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Price

PE Ratio

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Overview

Detailed Summary

Biocon Limited is a fully-integrated biopharmaceutical company, primarily engaged in the production of biotechnology products and research services.

In Q2 FY26, Biocon's biosimilars and generics businesses witnessed significant year-over-year growth, enhancing its financial robustness and operational efficiency.

The company’s strategic debt settlement initiatives, including exiting structured debt with Goldman Sachs and Kotak, are set to save approx. INR 300 crores annually from FY27.

Biocon's diverse and innovative biosimilar portfolio, which includes products like bUstekinumab, remains a critical growth driver, reinforcing its competitive edge in high-impact therapy areas.

With its expanding global reach, notably through a landmark partnership supplying insulin to the Government of California, Biocon is well-positioned for sustainable long-term expansion.

Sector

Pharmaceuticals

Industry

Biotechnology

Market Cap

52,215 Cr

Volatility

High Risk

P/E Ratio

111.3

Industry P/E

74.2

PEG Ratio

1.8

P/B Ratio

2.0

52W High

424.95

52W Low

290.80

Sales CAGR

3.43%

8.86%

2.44%

10Y

-0.45%

Profit CAGR

10.14%

91.99%

6.91%

10Y

5.74%

ROE

TTM

1.81%

3.31%

4.16%

10Y

5.77%

ROCE

TTM

4.20%

5.13%

5.50%

10Y

6.77%

Technicals

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Forecasts

No. of Analysts

20

1Y Price Target

435.03 ▲ 13.23%

Q3 EPS Estimate

Q3 Revenue Estimate

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Dec 03, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
BIOCON	390.55	52,215 Cr	111.27	1.95	0.11	1.81	4.20	1.21
ANTHEM	696.00	39,248 Cr	76.04	14.26	0.00	18.75	26.49	15.72
SYNGENE	659.50	26,600 Cr	56.81	5.62	0.19	9.89	11.96	7.16
ONESOURCE	1614.10	18,495 Cr	134.06	3.13	0.00	2.34	3.64	0.50
TRUALT	417.50	3,584 Cr	23.33	2.56	0.00	10.96	10.33	4.55
ADVENZYMES	312.10	3,497 Cr	23.72	2.36	1.66	9.93	14.10	8.91
PANACEABIO	356.00	2,189 Cr	—	2.65	0.00	-5.71	-5.58	-0.61

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	3,423	3,462	3,954	3,917	3,433	3,590	3,821	4,417	3,942	4,296
Expenses	2,708	2,721	3,027	3,001	2,813	2,905	3,070	3,339	3,193	3,460
Operating Profit	714	742	927	916	620	685	752	1,078	749	835
OPM %	20.87	21.42	23.44	23.38	18.07	19.09	19.67	24.41	19.00	19.45
Other Income	60	110	563	37	1,167	59	53	57	80	81
Interest	233	248	267	227	236	226	223	212	277	272
Depreciation	358	389	415	407	405	420	425	436	455	473
Profit Before Tax	184	214	808	319	1,146	98	156	487	97	171
Tax %	18.94	19.41	6.79	30.13	24.77	72.46	47.98	5.63	7.95	22.48
Net Profit	149	173	753	223	862	27	81	459	89	133
EPS in Rs	0.76	0.94	4.95	1.01	4.95	-0.12	0.19	2.58	0.26	0.65

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	3,922	4,130	5,514	6,301	7,143	8,184	11,174	14,756	15,262	15,771
Expenses	2,912	3,294	4,121	4,697	5,490	6,214	8,663	11,457	12,095	12,506
Operating Profit	1,010	835	1,394	1,603	1,653	1,970	2,512	3,299	3,166	3,264
OPM %	25.75	20.23	25.27	25.44	23.14	24.07	22.48	22.36	20.75	20.70
Other Income	173	228	340	229	188	-105	-83	770	1,305	248
Interest	26	62	71	65	58	68	419	974	897	938
Depreciation	277	385	448	552	715	814	1,113	1,569	1,687	1,737
Profit Before Tax	850	610	1,215	1,215	1,068	983	897	1,525	1,887	838
Tax %	19.02	25.72	17.47	25.94	20.75	21.51	28.32	14.91	24.23	21.62
Net Profit	688	453	1,003	900	846	772	643	1,298	1,429	657
EPS in Rs	4.63	2.81	5.03	5.66	5.51	4.87	3.48	7.67	7.60	3.68
Dividend Payout %	29.07	15.95	13.16	0.00	0.00	9.23	38.76	5.85	5.91	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	100	100	300	300	600	600	600	600	600	600
Reserves	3,934	4,738	4,881	5,798	6,106	7,027	7,832	17,267	19,183	21,044
Borrowings	2,467	2,205	1,920	1,803	1,980	4,481	5,147	18,019	16,277	18,362
Other Liabilities	1,957	2,351	2,889	4,292	5,758	6,414	6,815	16,157	20,010	18,791
Total Liabilities	8,458	9,394	9,990	12,192	14,444	18,522	20,394	52,043	56,071	58,797
Fixed Assets	1,748	3,625	3,700	4,471	5,971	6,364	6,569	29,468	30,644	31,963
CWIP	2,240	839	1,303	1,899	2,196	2,800	4,110	7,317	7,993	8,508
Investments	902	1,254	675	1,012	966	1,952	1,588	2,069	1,000	1,127
Other Assets	3,569	3,676	4,312	4,811	5,311	7,406	8,127	13,189	16,434	17,199
Total Assets	8,458	9,394	9,990	12,192	14,444	18,522	20,394	52,043	56,071	58,797

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	371	640	662	1,155	1,283	1,160	1,177	1,853	2,954	4,061
Cash from Investing Activity	-1,142	-499	-684	-714	-1,559	-3,659	-1,665	-14,282	-1,005	-234
Cash from Financing Activity	1,068	-178	-240	-242	388	2,564	242	13,049	-2,333	-1,854
Net Cash Flow	296	-36	-262	199	112	65	-247	619	-383	1,973

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	60.99%	60.97%	60.94%	60.88%	60.84%	60.83%	60.81%	60.79%	60.77%	60.77%	54.55%	54.53%
FIIs	14.50%	10.26%	9.57%	7.99%	6.57%	5.65%	5.91%	5.94%	5.67%	5.68%	7.02%	6.62%
DIIs	8.68%	11.96%	12.65%	14.14%	14.56%	13.72%	14.34%	14.47%	15.40%	15.76%	21.49%	22.13%
Public	15.82%	16.81%	16.84%	16.99%	18.02%	19.80%	18.94%	18.80%	18.16%	17.80%	16.94%	16.72%
Total Shareholders	3,91,382	4,11,086	4,12,441	4,15,046	4,34,339	4,70,261	4,43,513	4,39,503	4,27,705	4,24,297	4,30,217	4,13,191

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Jun 10, 2024	Sivanandam k revised	Insider - Designated Person	Pledge	256.60	0.19 Cr	7,328	—
Apr 05, 2024	Nehal vora	Insider - Designated Person	Pledge	256.60	1.59 Cr	61,827	0.00
Apr 04, 2024	Sivanandam k	Insider - Designated Person	Pledge	256.60	0.19 Cr	7,328	—
Apr 02, 2024	Akhilesh nand	Insider - Designated Person	Disposal	260.55	0.29 Cr	11,000	0.00
Apr 02, 2024	Kiran kumar gandhirajan	Insider - Designated Person	Disposal	264.34	0.53 Cr	19,998	0.00
Mar 25, 2024	Sumit ray	Insider - Designated Person	Acquisition	251.20	0.05 Cr	2,000	—
Mar 25, 2024	Rahul agrawal	Insider - Designated Person	Acquisition	251.20	0.05 Cr	2,000	—
Mar 19, 2024	Shashi kant tiwari	Insider - Designated Person	Acquisition	251.65	0.17 Cr	6,792	—
Mar 05, 2024	Maneesh ghildyal	Insider - Designated Person	Disposal	270.95	0.05 Cr	2,000	0.00
Mar 05, 2024	Maneesh ghildyal	Insider - Designated Person	Disposal	275.80	0.03 Cr	1,000	0.00

Projection

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Actions

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Announcements

Last 7 days

Newest

Sentiment

Press Release

1 day ago

Biocon Launches Liraglutide in the Netherlands

Biocon Limited announces the launch of Liraglutide, a GLP-1 peptide for diabetes and obesity, in the Netherlands, marking its first direct launch in the European Union.

Press Release

3 days ago

Biocon Biologics Signs Global License Agreement

Biocon Biologics has entered a settlement and license agreement with Regeneron and Bayer to commercialize its biosimilar Aflibercept worldwide, marking a significant milestone for the company.

Press Release

5 days ago

Biocon Biologics Positive CreditWatch

S&P Global Ratings has placed Biocon Biologics on Positive CreditWatch due to the company's accelerated progress in debt reduction. ...

Analyst/Investor Meet

6 days ago

Biocon Schedules Analyst/Investor Meetings

Biocon Limited has scheduled meetings with analysts and institutional investors from December 15 to December 19, 2025, in Mumbai.

Credit Rating

6 days ago

Biocon Announces Credit Rating Updates

Biocon Limited informs about recent credit rating actions by India Ratings on its debt instruments, including assignments and withdrawals for various facilities.

Investor Presentation

6 days ago

Biocon Investor Presentation

Biocon Limited announced an Investor Presentation scheduled for analyst and institutional investor meetings on December 10 and 11, 2025.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q4 FY24

Investor Presentation

Q4 FY24

Investor Presentation

Q3 FY24

Showing 1 - 8 of 40

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Biocon Ltd

Biocon Ltd

BIOCON

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PEG Ratio

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Consolidated Quarterly Results (in ₹ Crores)

Consolidated Profit Loss (in ₹ Crores)

Consolidated Balance Sheet (in ₹ Crores)

Consolidated Cash Flows (in ₹ Crores)

Shareholdings

Shareholding History

Market Transactions

Projection

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Consolidated Quarterly Results (in ₹ Crores)

Consolidated Profit Loss (in ₹ Crores)

Consolidated Balance Sheet (in ₹ Crores)

Consolidated Cash Flows (in ₹ Crores)

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Overall

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Moving Averages

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