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INDGN

Indegene Limited

Pharmaceuticals: Major/ NSE

Compiled

Auto-generated from filings and public channels — no analyst dossier.

If management delivers what it guided

arithmetic on filed guidance and past valuations · not a price target

INDGN

FY26 → FY28 · 2 years of guidance · ~1.7 years from today₹515 today

BEAR

₹389

-24%-16% a yr

8.6% a year · 19.8x exit

BASE

₹650

+26%+15% a yr

14.9% a year · 29.6x exit

BULL

₹1,240

+141%+70% a yr

20.3% a year · 51.5x exit

Where the market has priced it

13x31x today538x

the guided figure reached earnings through a low-confidence bridge
this company has too little filed history for a multiple band of its own, so the exit multiple is the median of 39 Pharmaceuticals: Major peers
FY27 one quarter filed — the pace is shown, not judged: guided +15.0%, filed +39.7% across 1 quarter(s)

How these numbers are produced

Earnings base	FY26 fiscal year EPS ₹16.65 (screener)
Guided growth	14.9% a year, said on the call of 04-Feb-2026 · transcript
Read across as	operating: unlabelled growth figure, read as revenue — low confidence
Delivery calibration	0.58x / 1x / 1.36x of what was guided — measured: 76 annual guided-vs-filed pairs + 77 near-complete quarterly years — NSE transcripts against the companies' own filings
Exit multiple	19.82x / 29.55x / 51.47x, this company’s own p20 / median / p80 across 39 filed years
Filed-industry peers	median 29.55x across 39 peers — the cross-check, not the input
Arithmetic	base EPS × (1 + guided growth × delivery)² × exit multiple

Arithmetic on management’s own guidance and this company’s own past valuations. Not a price target, not a recommendation, and not a forecast of what the stock will do.

How to read this

It answers one question. If this management delivers the growth it told its own investors it would, and the market pays what it has historically paid for this company's earnings, where does the arithmetic land? Nothing here is a forecast of the share price.
Three cases, two moving parts. Bear, base and bull vary the delivery — what fraction of guidance managements actually file — and the exit multiple together, because a company that misses its guidance is usually de-rated for missing it. Each case shows the growth rate and the multiple that produced it.
Read the width, not just the middle. A wide gap between bear and bull means the inputs are uncertain, not that the upside is bigger. A narrow range is a more confident statement than a high one.
“Where the market has priced it” puts today's P/E on the company's own historical range. Sitting far below that range is why a scenario can look enormous: the number is then mostly about re-rating, not about delivery, and the board marks those separately.
The bullets underneath are the caveats — a borrowed peer multiple, a thin filed history, an earnings base that carried a one-off. They are the reasons to trust the number less, listed rather than buried.

Not a price target, not a recommendation, and not a forecast of what the stock will do. The field guide covers the method.

What management said

from NSE earnings-call filings · extracted, not interpreted

generic growth 15%

We've always kind of given the guidance of mid-teens growth.

Call 04-Feb-2026 · bridge confidence low · transcript PDF

Pace against its own guidance

FY27 one quarter filed — the pace is shown, not judged

guided 15.0% filed 39.7% 1 of 4 quarters

Coverage

SectorPharmaceuticals: Major

Dossiersnone

Guidanceyes

Scenarioyes

Street chatter

unverified · logged from public channels

Indegene Annual Report Notes

AI in life sciences is not a horizontal technology problem. It is a deeply domain-intensive one. Every workflow is regulated. Every decision must be auditable. Every output is accountable to a patient. Generic foundation models cannot reason about an FDA labeling guideline, a Phase III endpoint, a payer

18 Jul 14:09

IDFC FIRST Bank, Mindspace Business Parks REIT, Indegene, MM Forgings, IndiaMART InterMESH, Mold-Tek Packaging, Innova Captab, Motilal Oswal Financial Services,

Mention only01 Jun 12:03

Indegene | Q1 FY27 Concall Highlights

Financial Performance

Revenue ₹1,063 crore (+39.7% YoY).

Revenue +6% QoQ.

EBITDA ₹180 crore.

EBITDA margin 16.9%.

PAT ₹116 crore (+45.9% QoQ).

Business Highlights

Cash & investments ₹1,460 crore.

Active clients increased to 105.

Added *

Results31 Jul 05:24

🚀 INDEGENE – Q1 Business & Deal Highlights

Active client base increased to 105, with 2 new $10–25 million clients added.

Revenue from clients outside the top 20 rose to 33.4%, improving diversification.

Enterprise Commercial contributed 70.6% of revenue, while North America accounted for 75.1%.

Results31 Jul 05:23