MarketFriction

Biocon Ltd

NSE BIOCON · BSE 532523 · Pharmaceuticals
₹370.70 +0.11%
NSE close2026-10-01
52 week range337.05 - 447.15
Market cap₹61,439 Cr.
P/E84.5
Nifty 200Nifty 500Nifty Midcap 100Midcap 150Nifty PharmaNifty Healthcare Index No price band Delivery 42.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales3,4623,9543,9173,4333,5903,8214,4173,9424,2964,1734,5174,336
Expenses2,7453,0513,0042,8122,9053,0703,3393,1763,4603,3403,4963,489
Operating Profit7179039136206857521,0787668358341,020847
OPM %21%23%23%18%19%20%24%19%19%20%23%20%
Other Income134587401,1665853576281-176-2841
Interest248267227236226223212277272210232213
Depreciation389414407405420425436455473515513547
Profit before tax2148083191,1469815648797171-68248128
Tax %19%7%30%25%72%48%6%8%22%-24%20%-7%
Net Profit173753223862278145989133-52199137
EPS in Rs1.055.501.135.49-0.130.212.870.230.631.080.780.87
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3,3473,8914,1235,5146,3007,1438,18411,17414,75615,26216,92717,321
Expenses2,9572,9123,2944,1214,6965,5626,3918,76211,54012,00813,45613,785
Operating Profit3909808291,3941,6041,5811,7932,4123,2163,2543,4713,536
OPM %12%25%20%25%25%22%22%22%22%21%21%20%
Other Income63917322834019926072188531,217-76-82
Interest29266271655868419974897990927
Depreciation2492773854485527158141,1131,5691,6871,9572,049
Profit before tax7518506101,2151,1861,0689838971,5251,887448479
Tax %19%19%26%17%27%21%22%28%15%24%18%
Net Profit6096884531,0038718467726431,2981,429369416
EPS in Rs4.595.103.107.546.246.175.403.858.528.442.383.36
Dividend Payout %18%10%16%7%0%0%9%39%6%6%21%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth18%19%15%10%
Compounded Profit Growth1%-12%-15%100%
Stock Price CAGR9%1%11%11%
Return on Equity6%4%3%1%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital100100100300300600600600600600600810
Reserves3,1713,9344,7384,8815,7986,1067,0277,83217,26719,18321,04433,221
Borrowings1,1172,4782,3022,2642,4222,7154,4815,14718,01916,27718,36215,434
Other Liabilities1,9881,9472,2542,5453,6724,9936,3826,76315,85619,69318,53413,943
Total Liabilities6,3758,4589,3949,99012,19214,41418,49020,34251,74255,75358,54063,409
Fixed Assets1,6301,7483,6263,7004,4715,9716,3646,56929,46830,64431,96336,486
CWIP1,6772,2408391,3031,8992,1962,8004,1107,3177,9938,5086,987
Investments2309021,2536751,0129661,9521,5882,0691,0001,1271,779
Other Assets2,8393,5693,6764,3124,8115,2817,3748,07412,88816,11716,94118,157
Total Assets6,3758,4589,3949,99012,19214,41418,49020,34251,74255,75358,54063,409
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity2113716406621,1551,2831,1601,1771,8522,9544,0611,994
Cash from Investing Activity-491-1,138-510-684-703-1,505-3,651-1,662-14,260-1,002-203-1,883
Cash from Financing Activity1861,068-178-240-2423882,56424213,049-2,333-1,854-924
Net Cash Flow-94300-47-26121016572-243641-3802,004-812
Free Cash Flow-627-24632-251-337-546-577-7461291,0461,71882
CFO/OP49%158%86%104%104%101%86%80%86%101%139%64%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days9178839486717792117154131129
Inventory Days132153160161199263304309423368346390
Days Payable125172187224231243246216383467460434
Cash Conversion Cycle985957315391134184157551885
Working Capital Days-19-12246-2-318713-68-63-17
ROCE %12%9%12%8%13%13%10%9%6%6%6%4%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters60.64%60.64%60.64%60.64%60.64%60.64%60.64%54.45%54.45%54.45%44.91%44.68%
FIIs7.97%6.55%5.63%5.90%5.93%5.66%5.67%6.04%6.61%7.39%7.52%8.14%
DIIs14.08%14.51%13.69%14.29%14.44%15.36%15.73%22.83%22.06%21.67%24.01%23.33%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.03%0.03%0.05%0.05%
Public16.92%17.96%19.74%18.90%18.74%18.11%17.77%16.51%16.70%16.34%23.40%23.75%
Others0.39%0.33%0.32%0.28%0.25%0.22%0.21%0.18%0.14%0.12%0.09%0.05%
No. of Shareholders4,15,0464,34,3394,70,2614,43,5134,39,5034,27,7054,24,2974,28,1314,13,1913,94,2793,86,5933,92,833

Fundamentals

Market Cap₹ 61,439 Cr.
Current Price₹ 377
Stock P/E84.5
Book Value₹ 210
ROCE3.61 %
ROE1.40 %
Dividend Yield0.13 %
Face Value₹ 5.00
Compounded Sales Growth (TTM)10%
Compounded Profit Growth (TTM)100%
Consolidated figures.
Valuation
Market capRs 60,087 Cr
Enterprise valueRs 72,328 Cr
P/E (TTM)121.31x
Price to book1.77x
Price to sales3.47x
EV / EBITDA20.94x
EV / EBIT51.46x
EV / sales4.18x
Price to cash flow30.13x
Earnings yield0.82%
Dividend yield0.13%
P/E, 3-year average74.40x
P/B, 3-year average1.74x
P/E, 5-year average67.78x
P/B, 5-year average2.28x
Profitability
Operating margin (excl. other income)20.51%
Operating margin (incl. other income)20.06%
EBITDA margin19.94%
Pre-tax margin2.76%
Net profit margin2.86%
Net margin, latest quarter3.25%
ROE1.39%
ROCE3.21%
ROA0.63%
ROE, 3-year average3.90%
ROCE, 3-year average5.83%
ROA, 3-year average1.44%
ROE, 5-year average4.66%
ROCE, 5-year average6.20%
ROA, 5-year average1.79%
ROIC (approx.)2.50%
Tax rate17.66%
Other income / net worth-0.22%
Growth
Sales growth (latest year)10.91%
Profit growth (latest year)-61.95%
Sales CAGR, 3 years14.85%
Sales CAGR, 5 years18.83%
Profit CAGR, 3 years-5.89%
Profit CAGR, 5 years-12.23%
Sales growth QoQ-4.00%
Profit growth QoQ12.07%
Sales growth YoY (latest quarter)10.00%
Profit growth YoY (latest quarter)349.36%
Per share
EPS (TTM)Rs 3.06
EPS (latest year)Rs 2.38
EPS (latest quarter)Rs 0.87
EPS, 3-year averageRs 6.45
EPS, 5-year averageRs 5.72
Book value per shareRs 209.96
Sales per shareRs 106.86
Cash flow per shareRs 12.30
Free cash flow per shareRs 0.51
Dividend per share (latest year)Rs 0.50
Dividend per share, 3-year averageRs 0.50
Dividend per share, 5-year averageRs 0.70
Dividends
Dividend payout21.02%
Dividend payout, 3-year average10.94%
Dividend payout, 5-year average16.20%
Efficiency
Asset turnover0.27x
Fixed asset turnover0.46x
Inventory turnover1.19x
Inventory days307 days
Debtor days129 days
Debtors turnover2.83x
Creditor days434 days
Cash conversion cycle85 days
Working capital days-17 days
Leverage
Total debtRs 15,434 Cr
Cash and bankRs 3,194 Cr
Net debtRs 12,240 Cr
Debt to equity0.45x
Net debt / EBITDA3.54x
Interest coverage1.52x
Current ratio (filing 2026-03-31)1.22x
Quick ratio (filing 2026-03-31)0.79x
Trade payables (filing 2026-03-31)Rs 6,772 Cr
Owners' fund to total sources53.67%
Debt to assets24.34%
Cash flow
Cash from Operating Activity (latest year)Rs 1,994 Cr
Cash from Investing Activity (latest year)Rs -1,883 Cr
Cash from Financing Activity (latest year)Rs -924 Cr
Net Cash Flow (latest year)Rs -812 Cr
Free cash flow (latest year)Rs 82 Cr
FCFE (approx.: FCF + change in debt)Rs -2,846 Cr
Cash from ops / profit, 5 years2.67x
Sales to cash flow8.49x
Statement figures
Net sales (TTM)Rs 17,321 Cr
Net sales (latest year)Rs 16,927 Cr
Sales (latest quarter)Rs 4,336 Cr
Operating profit excl. other income (latest year)Rs 3,471 Cr
Operating profit (latest quarter)Rs 847 Cr
Other income (TTM)Rs -82 Cr
EBITDA (TTM)Rs 3,454 Cr
PBDT (TTM)Rs 2,528 Cr
Profit before tax (TTM)Rs 479 Cr
Tax (latest year)Rs 79 Cr
Net profit (TTM)Rs 495 Cr
Net profit (latest year)Rs 386 Cr
Net profit (latest quarter)Rs 141 Cr
Depreciation (TTM)Rs 2,049 Cr
Depreciation (latest quarter)Rs 547 Cr
Interest (TTM)Rs 927 Cr
Cost of goods sold (latest year)Rs 7,244 Cr
Total expenditure (latest year)Rs 13,456 Cr
Total income (latest year)Rs 16,851 Cr
Share capitalRs 810 Cr
ReservesRs 33,221 Cr
Shareholders' fundsRs 34,032 Cr
Total assetsRs 63,409 Cr
Net blockRs 36,486 Cr
Capital work in progressRs 6,987 Cr
InvestmentsRs 1,779 Cr
ReceivablesRs 5,987 Cr
InventoryRs 6,086 Cr
Other liabilitiesRs 13,943 Cr
Shares outstanding (crore)162.09
Ownership
Promoter holding44.68% (-9.77 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 121.3 is at the 81th percentile of its own 9.4-year range (median 80.5, low 39.9, high 180.2).
P/B 1.77 is at the 1th percentile (median 5.96).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodBIOCONNifty 50Difference
1 week-4.2%-2.8% -1.4 pts
1 month-7.6%-6.8% -0.8 pts
3 months-13.1%-7.6% -5.5 pts
6 months+2.7%+0.4% +2.3 pts
1 year+4.1%-9.9% +14.1 pts
2 years+0.1%-13.6% +13.7 pts
3 years+36.2%+14.2% +22.0 pts
5 years+1.5%+27.9% -26.4 pts
214 mutual fund schemes hold about ₹14,121 Cr. Over three months 168 bought more and 23 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
SBI Contra Fund3.47%1,651 +13%
SBI Large & Midcap Fund2.29%968 +29%
Kotak Mid Cap Fund1.07%765 +100%
SBI Midcap Fund2.62%643 +12%
SBI Midcap Fund2.62%638 +12%
SBI Balanced Advantage Fund1.28%542 +13%
Kotak Large & Mid Cap Fund1.66%536 +10%
ICICI Pru Focused Fund2.61%468 +100%
SBI Multicap Fund1.85%454 +10%
ICICI Pru Value Fund0.58%351 +34%
Franklin India Mid Cap Fund2.56%334 +41%
ICICI Pru Healthcare Fund-4.68%327 +108%
SBI Multi Asset Allocation Fund(A1.56%326 +5%
ICICI Pru Large Cap Fund0.38%304 +100%
HDFC Flexi Cap Fund0.27%301 +100%
SBI Flexicap Fund1.24%288 +11%
Aditya Birla SL Focused Fund2.77%221 +31%
Kotak Arbitrage Fund(M0.27%206 -22%
SBI Arbitrage Fund0.39%186 +33%
SBI MNC Fund2.76%185 +4%
ICICI Pru Multi Asset Allocation Fund0.21%182 +82%
SBI ELSS Tax Saver Fund0.53%168 +14%
SBI Dividend Yield Fund1.95%167 +38%
Bandhan Large & Mid Cap Fund0.79%166 +36%
SBI Conservative Hybrid Fund(Q1.53%157 +12%

Red flags

F-score 5 of 8
explainShare dilution Share count up 35% in a year, 35% in three
explainLow interest cover Interest cover 1.5x in 2026
lookAuditor change Auditor change 2026-08-06: Biocon Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2024-03-28KIRAN KUMAR GANDHIRAJANEmployees/Designated Employesell19,998Rs 0.53 CrMarket Sale
2024-03-28Akhilesh NandEmployees/Designated Employesell11,000Rs 0.29 CrMarket Sale
2024-03-28NEHAL VORAEmployees/Designated Employeother61,827Rs 1.59 CrPledge Creation
2024-03-27SIVANANDAM K-other7,328Rs 0.19 CrPledge Creation
2024-03-16SHASHI KANT TIWARIEmployees/Designated Employeother6,792Rs 0.17 CrESOP
2024-03-04MANEESH H GHILDYALEmployees/Designated Employesell5,000Rs 0.14 CrMarket Sale
2024-02-29SANTOSH GOVINDRAO KATTI-other20,500Rs 0.56 CrESOP
2024-02-29MANEESH H GHILDYALEmployees/Designated Employesell1,000Rs 0.03 CrMarket Sale
2024-02-29MANEESH H GHILDYALEmployees/Designated Employesell2,000Rs 0.05 CrMarket Sale
2024-02-28MANEESH H GHILDYALEmployees/Designated Employesell2,000Rs 0.06 CrMarket Sale
2024-02-27MANEESH H GHILDYALEmployees/Designated Employesell1,000Rs 0.03 CrMarket Sale
2024-02-27MANEESH H GHILDYALEmployees/Designated Employesell1,000Rs 0.03 CrMarket Sale
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹4,336 Cr +10.0% vs Jun 2025. Net profit ₹137 Cr +53.9%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-07-03Dividend - Re 0.50 Per Share
2025-07-04Dividend - Rs 0.50 Per Share
2024-07-05Dividend - Re 0.50 Per Share
2023-07-07Dividend - Rs 1.50 Per Share
2022-06-30Dividend - Rs 0.50 Per Share
2019-07-18 Dividend - Rs 0.50 Per Share
2019-06-12 Bonus 1:10.5000
2018-07-19 Dividend- Re 1 Per Share
2017-07-20 Annual General Meeting/Dividend - Re 1/- Per Share
2017-06-15 Bonus 2:10.3333
2016-06-22 Annual General Meeting
2016-03-17 Interim Dividend - Rs 5/- Per Share (Purpose Revised)
2015-07-16Annual General Meeting
2015-04-09Interim Dividend Rs 5/- Per Share
2014-07-10Annual General Meeting / Final Dividend - Rs 5/- Per Share
2013-07-11Annual General Meeting/Final Dividend Rs 5/- Per Share + Special Dividend Rs 2.5/- Per Share
2012-07-05Annual General Meeting / Dividend Rs 5 Per Share
2011-07-07Annual General Meeting/Dividend Rs 3 Per Share
2011-05-05Interim Dividend-Rs.1.50 Per Share (Purpose Revised)
2010-07-08Annual General Meeting And Dividend Rs.3.50 Per Share
2009-07-08Agm/Div-Rs.3/- Per Share Bc Start Date Revised
2008-09-11Bonus 1:10.5000
2008-07-03Fin Div-60% + Spl Div-40%
2007-06-28Agm/Dividend - 60%
2006-06-29Agm/Fin Div-Rs2.50 Per Sh
DateTypeWhat it says
2026-10-01ESOP grantGrant of Employee Stock Options under Biocon Unity Long Term Incentive Plan 2026 read with the Notified Plans thereunder
2026-09-25UpdatesCompany Statement.
2026-09-21Press ReleaseA press release dated September 21, 2026, titled "Biocon s Pertuzumab Becomes First Biosimilar to Secure EMA CHMP Approval Recommendation Under New Ta...
2026-09-09General UpdatesCommunication regarding remittance of final dividend for the FY 2025-26
2026-09-08Concall / analyst meetSchedule of meet
2026-09-08Press ReleaseA press release dated September 08, 2026, titled "Biocon Secures 10-Year Supply Contract for Pertuzumab in Brazil".
2026-08-31Concall / analyst meetSchedule of meet
2026-08-28General UpdatesCommunication regarding remittance of final dividend for the FY 2025-26
2026-08-25UpdatesCompany Statement.
2026-08-18UpdatesCompany Statement.
2026-08-11Concall / analyst meetSchedule of meet
2026-08-11Concall / analyst meetTranscript
2026-08-08Shareholder meetingVoting results.
2026-08-07Concall / analyst meetSchedule of meet
2026-08-07Concall / analyst meetSchedule of meet
2026-08-06ResignationResignation of Ms BSR Co & LLP Statutory Auditors of the material subsidiary of the Company w.e.f. August 06, 2026.
2026-08-06Director changeChange in Director(s) of the company.
2026-08-06Change in AuditorsChange in Auditors of the company.
2026-08-06AppointmentRe-appointment of Mr Erick Mazumdar as Non- Executive Director of the company w.e.f. August 06, 2026.
2026-08-06Shareholder meetingProceedings of Annual General Meeting held on August 06, 2026
2026-08-06Concall / analyst meetLink of Recording
2026-08-06Investor PresentationInvestor Presentation
2026-08-05Monitoring Agency ReportMonitoring Agency Report for the quarter ended on June 30, 2026
2026-08-05Press ReleaseA press release dated August 05, 2026, titled "Biocon Q1FY27 Total Income at Rs 4,391 Cr, Up 9%; EBITDA at Rs 902 Cr; Net Profit at Rs 141 Cr; Biophar...
2026-08-05Board meeting outcomeBiocon Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.83
Max pain (expiry 2026-10-27)380
Largest call open interest at400
Largest put open interest at360
Implied volatility, at the money25.4%
Underlying at snapshot370.70
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-301,344
2026-09-291,427
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Biocon Ltd?

Biocon Ltd (BIOCON) has a market capitalisation of Rs 61,439 Cr. at the 2026-10-01 close.

What is the P/E ratio of Biocon Ltd?

Biocon Ltd trades at a P/E of 84.5 on trailing twelve-month profit, at the 2026-10-01 close.

What were Biocon Ltd's latest quarterly results?

In the Jun 2026 quarter, Biocon Ltd sales was Rs 4,336 Cr (+10.0% vs Jun 2025) and net profit was Rs 137 Cr.

What is the 52-week high and low of Biocon Ltd?

The 52-week high is Rs 447.15 and the 52-week low is Rs 337.05.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03