Indegene Limited is a leader in the life sciences industry, distinguished by its digital-first approach to product commercialization. Headquartered in Bangalore, India, with a global presence spanning 17 offices and a workforce of over 5,000 professionals, Indegene supports biopharmaceutical, emerging biotech, and medical device companies throughout the entire product lifecycle. From development to market launch and lifecycle management, Indegene leverages its expertise in digital technologies—including data analytics, AI, and machine learning—to drive operational efficiencies and offer highly personalized healthcare solutions.
Beyond its technological capabilities, Indegene’s deep-rooted healthcare expertise allows it to address the distinct needs of its clients with agility and precision. The company’s flexible, adaptive approach ensures that life sciences companies can respond effectively to the evolving demands of the market and regulatory environments worldwide. Indegene is also committed to making a broader impact through initiatives in education and healthcare, demonstrating a dedication to social responsibility that complements its business mission.
| Jun 2024 | Sep 2024 | |
| FIIs + | 3.79% | 4.82% |
| DIIs + | 3.84% | 3.17% |
| Public + | 92.38% | 92.01% |
| No. of Shareholders | 2,03,599 | 1,51,440 |
As of June and September 2024, Indegene’s shareholding patterns indicate notable shifts among Foreign Institutional Investors (FIIs), Domestic Institutional Investors (DIIs), and public shareholders. FIIs increased their holdings from 3.79% in June to 4.82% in September, reflecting heightened foreign interest in Indegene’s performance and market potential. Conversely, DIIs slightly reduced their holdings, moving from 3.84% in June to 3.17% in September, suggesting a recalibration in domestic institutional interest.
Public shareholding remained the dominant category, albeit with a slight decrease from 92.38% in June to 92.01% in September. This trend is complemented by a significant reduction in the number of shareholders, dropping from 2,03,599 in June to 1,51,440 in September. These changes indicate a consolidation among investors and a growing concentration of shares among institutional investors, particularly FIIs, signaling sustained confidence in Indegene’s market positioning and long-term strategy.
Below are the trading platforms that you can use to purchase Indegene shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| November 2024 | 681.05 | 592.22 |
| December 2024 | 687.86 | 598.14 |
In November, the maximum price is expected to reach around ₹681.05, while the minimum is anticipated at ₹592.22, indicating a strong upward trend. As we close the year in December, Indegene’s stock price is projected to continue its growth, with a maximum reaching approximately ₹687.86 and a minimum of ₹598.14. These price expectations reflect a strong year-end position for Indegene, underscoring its positive momentum in the market.
| When | Maximum Price | Minimum Price |
| January 2025 | 694.74 | 534.42 |
| February 2025 | 701.76 | 539.82 |
| March 2025 | 716.50 | 551.15 |
| April 2025 | 709.40 | 545.70 |
| May 2025 | 688.74 | 529.80 |
| June 2025 | 719.73 | 553.64 |
| July 2025 | 705.62 | 542.79 |
| August 2025 | 727.45 | 559.57 |
| September 2025 | 736.18 | 566.29 |
| October 2025 | 755.32 | 581.01 |
| November 2025 | 774.20 | 595.54 |
| December 2025 | 809.04 | 622.34 |
As we move through 2025, Indegene’s stock is expected to steadily climb, beginning in January with a range between ₹534.42 and ₹694.74. By mid-year, prices could reach up to ₹719.73 in June and maintain strength in the months following. Entering the latter part of the year, projections show potential highs of ₹755.32 in October and ₹774.20 in November. Finally, December could see Indegene closing the year strong, with maximum prices around ₹809.04 and minimums near ₹622.34, reflecting consistent growth throughout the year.
| When | Maximum Price | Minimum Price |
| January 2026 | 833.31 | 641.01 |
| February 2026 | 812.48 | 624.98 |
| March 2026 | 828.73 | 637.48 |
| April 2026 | 845.64 | 650.49 |
| May 2026 | 837.27 | 644.05 |
| June 2026 | 858.20 | 660.15 |
| July 2026 | 841.37 | 647.21 |
| August 2026 | 867.39 | 667.22 |
| September 2026 | 884.74 | 680.57 |
| October 2026 | 907.74 | 698.26 |
| November 2026 | 930.44 | 715.72 |
| December 2026 | 953.70 | 733.61 |
| When | Maximum Price | Minimum Price |
| January 2027 | 963.23 | 740.95 |
| February 2027 | 987.93 | 759.95 |
| March 2027 | 1,026.46 | 789.59 |
| April 2027 | 1,006.33 | 774.10 |
| May 2027 | 977.02 | 751.56 |
| June 2027 | 1,020.99 | 785.38 |
| July 2027 | 1,000.97 | 769.98 |
| August 2027 | 1,031.93 | 793.79 |
| September 2027 | 1,068.05 | 821.57 |
| October 2027 | 1,095.82 | 842.94 |
| November 2027 | 1,123.21 | 864.01 |
| December 2027 | 1,151.29 | 885.61 |
| When | Maximum Price | Minimum Price |
| January 2028 | 1,174.32 | 903.32 |
| February 2028 | 1,204.43 | 926.48 |
| March 2028 | 1,251.40 | 962.62 |
| April 2028 | 1,226.86 | 943.74 |
| May 2028 | 1,191.13 | 916.25 |
| June 2028 | 1,244.73 | 957.48 |
| July 2028 | 1,220.32 | 938.71 |
| August 2028 | 1,258.07 | 967.74 |
| September 2028 | 1,302.10 | 1,001.61 |
| October 2028 | 1,335.95 | 1,027.66 |
| November 2028 | 1,369.35 | 1,053.35 |
| December 2028 | 1,403.58 | 1,079.68 |
| When | Maximum Price | Minimum Price |
| January 2029 | 1,431.66 | 1,101.27 |
| February 2029 | 1,468.37 | 1,129.51 |
| March 2029 | 1,525.63 | 1,173.56 |
| April 2029 | 1,495.72 | 1,150.55 |
| May 2029 | 1,452.15 | 1,117.04 |
| June 2029 | 1,517.50 | 1,167.31 |
| July 2029 | 1,487.75 | 1,144.42 |
| August 2029 | 1,533.76 | 1,179.81 |
| September 2029 | 1,587.44 | 1,221.11 |
| October 2029 | 1,628.71 | 1,252.86 |
| November 2029 | 1,669.43 | 1,284.18 |
| December 2029 | 1,711.17 | 1,316.28 |
| When | Maximum Price | Minimum Price |
| January 2030 | 1,745.39 | 1,342.61 |
| February 2030 | 1,790.14 | 1,377.03 |
| March 2030 | 1,859.96 | 1,430.74 |
| April 2030 | 1,823.49 | 1,402.68 |
| May 2030 | 1,770.38 | 1,361.83 |
| June 2030 | 1,850.04 | 1,423.11 |
| July 2030 | 1,813.77 | 1,395.21 |
| August 2030 | 1,869.87 | 1,438.36 |
| September 2030 | 1,935.31 | 1,488.70 |
| October 2030 | 1,985.63 | 1,527.41 |
| November 2030 | 2,035.27 | 1,565.59 |
| December 2030 | 2,086.15 | 1,604.73 |
As we move through 2030, Indegene’s stock is anticipated to experience significant growth. Starting in January, the price may range from ₹1,342.61 to ₹1,745.39. By March, projections suggest an increase with potential maximums of ₹1,859.96, maintaining upward momentum into mid-year, as June prices could reach up to ₹1,850.04. Continuing into the later months, August may see highs near ₹1,869.87, while October could approach ₹1,985.63. Finally, as we reach December, Indegene’s stock is projected to close strong, with potential prices reaching a maximum of ₹2,086.15 and a minimum of ₹1,604.73.
Financial Condition of Indegene
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 643 | 966 | 1,665 | 2,306 | 2,590 | 2,710 |
| Expenses + | 499 | 736 | 1,378 | 1,910 | 2,084 | 2,167 |
| Operating Profit | 144 | 230 | 287 | 396 | 505 | 543 |
| OPM % | 22% | 24% | 17% | 17% | 20% | 20% |
| Other Income + | -102 | -3 | -21 | 58 | 79 | 83 |
| Interest | 9 | 7 | 6 | 31 | 49 | 40 |
| Depreciation | 19 | 26 | 33 | 60 | 76 | 76 |
| Profit before tax | 14 | 195 | 226 | 363 | 459 | 510 |
| Tax % | 191% | 23% | 28% | 27% | 27% | |
| Net Profit + | -12 | 149 | 163 | 266 | 337 | 373 |
| EPS in Rs | -40.2 | 951.96 | 937.73 | 11.99 | 15.14 | 16.21 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Indegene has demonstrated impressive financial growth over recent years, with significant improvements across sales, operating profit, and net profitability. From March 2020 to the trailing twelve months (TTM) ending March 2024, Indegene’s sales surged from ₹643 crore to ₹2,710 crore, reflecting the company’s success in capturing greater market share and expanding its client base. This growth aligns with Indegene’s strategic focus on digital solutions in the life sciences sector, which appears to have driven consistent year-over-year revenue gains.
Operating profits also rose markedly, growing from ₹144 crore in 2020 to ₹543 crore in TTM 2024. The company managed to uphold a stable operating profit margin (OPM) of approximately 20% in recent years, despite some fluctuation, underscoring its effective cost-control measures amid rapid growth. Additionally, Indegene’s other income improved over the years, contributing to the overall financial health. The increase in profitability is evident in the company’s profit before tax, which climbed from a modest ₹14 crore in 2020 to a substantial ₹510 crore TTM 2024.
Indegene’s net profit followed a positive trajectory, rising from a loss in 2020 to ₹373 crore TTM in 2024, a significant indicator of its operational success and resilience in an evolving market. The earnings per share (EPS) reflect this improvement, growing to ₹16.21 TTM, showcasing enhanced shareholder value. Although the company has maintained a 0% dividend payout over this period, the retention of profits may signal reinvestment in growth initiatives, reinforcing its long-term commitment to expansion and innovation in the life sciences domain.
FAQs
Is Indegene a good stock to buy?
Yes, the Indegene shares are expected to be in an upward trend throughout the coming years, with the price showing steady growth from 2024 to 2030.
Indegene is expected to trade in between ₹529.80 to ₹809.04 in 2025.
Indegene could be trading in between ₹1,342.61 to ₹2,086.15 in 2030.
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Conclusion
In conclusion, Indegene Limited stands as a significant player in the life sciences sector, excelling through its digital-first approach to commercialization and extensive global presence. The company has demonstrated strong financial growth, with sales, operating profit, and net profit all showing impressive upward trends from 2020 through the trailing twelve months of 2024. Despite a conservative approach to dividend payouts, Indegene’s strategy focuses on reinvesting profits, likely to fuel future expansion and sustain its market leadership. The recent shareholding pattern reflects increased foreign interest, aligning with positive price projections from 2024 to 2030. With projections suggesting steady stock appreciation, Indegene appears to be a compelling investment opportunity, especially for those looking to capitalize on growth within the life sciences and healthcare technology sectors.
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