INDGN · Healthcare
Indegene Ltd. reported revenue of ₹942 cr for October to December 2025, +30.8% on the year and +17.2% on the quarter. It is the highest quarterly revenue in the last 11 quarters on record. Over the last four quarters revenue comes to ₹3,263 cr, +18.4% on the four before.
Operating profit (EBITDA) was ₹160 cr, a margin of 17.0%, −135 bps on the year and −55 bps on the quarter. It is the narrowest margin of the last 8 quarters (range 17.0% to 20.7%). Operating costs grew +33.0%, faster than revenue at +30.8%, so operating profit grew less than sales.
Net profit was ₹103 cr, −6.4% on the year and +1.0% on the quarter, with earnings per share of ₹4.28. Profit before other income, one-offs and tax grew faster, at +7.4%; other income, one-offs or tax held the headline back. The tax rate of 24% is in line with its recent average. Profit over the last four quarters totals ₹439 cr, +14.0% on the four before.
On earnings per share of ₹18.28 over the last four quarters, the stock at ₹614.60 trades at 33.6 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹636 cr | ₹673 cr | ₹673 cr | ₹676 cr | ₹687 cr | ₹720 cr | ₹756 cr | ₹761 cr | ₹804 cr | ₹942 cr | ₹1,003 cr | ₹1,063 cr |
| YoY | — | — | — | +11% | +8% | +7% | +12% | +13% | +17% | +31% | +33% | +40% |
| EBITDA margin | 19.0% | 22.1% | 20.7% | 19.1% | 18.3% | 18.3% | 19.6% | 20.4% | 17.5% | 17.0% | 16.4% | 16.4% |
| Other income, % of PBT | 12% | 10% | 19% | 18% | 17% | 26% | 17% | 14% | 15% | 14% | −10% | 19% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 25% | 25% | 29% | 27% | 26% | 25% | 21% | 23% | 23% | 24% | 24% | 24% |
| Net profit | ₹75.0 cr | ₹99.0 cr | ₹95.0 cr | ₹88.0 cr | ₹92.0 cr | ₹110 cr | ₹118 cr | ₹116 cr | ₹102 cr | ₹103 cr | ₹80.0 cr | ₹116 cr |
| YoY | — | — | — | +29% | +23% | +11% | +24% | +32% | +11% | −6% | −32% | 0% |
| Core profit YoY | — | — | — | +53% | +16% | −9% | +14% | +33% | +10% | +7% | −7% | −5% |
| EPS | ₹3.38 | ₹4.45 | ₹4.26 | ₹3.67 | ₹3.83 | ₹4.58 | ₹4.90 | ₹4.85 | ₹4.25 | ₹4.28 | ₹3.31 | ₹4.82 |
| Flags | · | · | · | ✓ | ✓ | 2 | ✓ | ✓ | ✓ | ✓ | 1 | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Indegene Ltd. reported revenue of ₹942 cr (+30.8% on the year) and net profit of ₹103 cr (−6.4% on the year) for October to December 2025.
Profit before other income, exceptional items and tax moved +7.4% on the year, against −6.4% for reported profit.
None of the 7 checks that could run raised a question.
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