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Biocon Limited
(BIOCON)
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Rating:49Neutral
Price Target:
₹347.00
▼(-16.87% Downside)
Action:Reiterated
Date:08/09/26
The score is primarily held back by weakened financial quality—sharp margin compression, very low ROE, and negative free cash flow in the latest year. Technicals are mildly supportive with the stock holding above key longer-term moving averages and neutral-to-positive momentum. Valuation is a meaningful risk factor due to the extremely high P/E and limited dividend support.
Positive Factors
Diversified Biopharmaceutical Platform
Biocon’s presence across biosimilars, generics, and biologics-related services provides multiple avenues for revenue generation rather than reliance on one product category. Exposure to several therapeutic areas and commercial models can support resilience and create opportunities for growth as products and partnerships scale.
Negative Factors
Sharp Margin Compression
The sharp decline in both gross and net margins signals materially weaker earnings quality and leaves less room to absorb cost increases or execution setbacks. Unless profitability recovers, the reduced margin base can constrain reinvestment, weaken returns, and make earnings more volatile over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified Biopharmaceutical Platform
Biocon’s presence across biosimilars, generics, and biologics-related services provides multiple avenues for revenue generation rather than reliance on one product category. Exposure to several therapeutic areas and commercial models can support resilience and create opportunities for growth as products and partnerships scale.
Read all positive factors
Biocon Limited (BIOCON) vs. iShares MSCI India ETF (INDA)
Market Cap
₹567.40B
Dividend Yield0.14%
Average Volume (3M)714.36K
Price to Earnings (P/E)102.8
Beta (1Y)0.70
Revenue Growth9.83%
EPS Growth5.07%
CountryIN
Employees16,447
SectorGeneral
Sector StrengthN/A
IndustryBiotechnology
Share Statistics
EPS (TTM)3.40
Shares Outstanding1,629,694,100
10 Day Avg. Volume102,856
30 Day Avg. Volume714,364
Financial Highlights & Ratios
PEG Ratio-1.92
Price to Book (P/B)1.45
Price to Sales (P/S)2.92
P/FCF Ratio-94.66
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)6.93
Revenue Forecast (FY)₹194.32B
Biocon Limited Business Overview & Revenue Model
Company Description
Biocon Limited functions as a biopharmaceutical firm, engaged in the production of pharmaceutical, medicinal chemical, and plant-derived products. Its business activities are organized into distinct segments: Generics, Novel Biologics, Biosimilars...
How the Company Makes Money
Biocon makes money primarily by developing and manufacturing biopharmaceutical products and earning revenue from their sale and related commercial arrangements. Key revenue streams include: (1) Biosimilars: income from the development, manufacturi...
Biocon Limited Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
63
Positive
Cash Flow
41
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 172.88B | 169.27B | 152.62B | 147.56B | 111.74B | 81.84B |
| Gross Profit | 73.23B | 58.85B | 92.44B | 91.73B | 69.62B | 50.11B |
| EBITDA | 34.13B | 33.95B | 32.30B | 33.52B | 26.77B | 19.73B |
| Net Income | 4.95B | 3.86B | 10.13B | 10.22B | 4.63B | 6.48B |
Balance Sheet | ||||||
| Total Assets | 646.96B | 636.51B | 587.97B | 560.71B | 520.43B | 203.94B |
| Cash, Cash Equivalents and Short-Term Investments | 28.33B | 38.83B | 49.24B | 25.74B | 37.26B | 29.65B |
| Total Debt | 155.51B | 154.34B | 183.62B | 162.77B | 180.19B | 51.47B |
| Total Liabilities | 271.50B | 270.29B | 310.85B | 307.96B | 295.54B | 109.24B |
| Stockholders Equity | 352.29B | 340.32B | 216.44B | 197.84B | 178.67B | 84.33B |
Cash Flow | ||||||
| Free Cash Flow | -575.00M | -5.21B | 17.18B | 10.22B | 1.26B | -7.48B |
| Operating Cash Flow | 8.03B | 12.77B | 40.61B | 29.54B | 18.52B | 11.77B |
| Investing Cash Flow | -12.76B | -80.30B | -2.34B | -10.04B | -142.82B | -16.99B |
| Financing Cash Flow | 14.03B | 57.42B | -18.54B | -23.33B | 130.49B | 2.42B |
Biocon Limited Technical Analysis
Negative
417.40
Price Trends
399.59
Negative
411.15
Negative
394.01
Negative
Market Momentum
-12.38
Positive
23.37
Positive
7.32
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BIOCON, the sentiment is Negative. The current price of 417.4 is above the 20-day moving average (MA) of 376.93, above the 50-day MA of 399.59, and above the 200-day MA of 394.01, indicating a bearish trend. The MACD of -12.38 indicates Positive momentum. The RSI at 23.37 is Positive, neither overbought nor oversold. The STOCH value of 7.32 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BIOCON.
Biocon Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹485.39B | 84.13 | ― | 0.23% | ― | ― | |
76 Outperform | ₹142.58B | 51.88 | ― | 0.55% | -6.72% | -22.67% | |
56 Neutral | ₹23.41B | 34.41 | ― | 0.11% | -20.86% | -34.51% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹140.19B | 63.16 | ― | 0.36% | -3.41% | -56.45% | |
49 Neutral | ₹567.40B | 102.76 | ― | 0.14% | 9.83% | 5.07% | |
47 Neutral | ₹21.20B | -297.63 | ― | 0.56% | 10.26% | -162.02% |
* General Sector Average
IN:BIOCON
Biocon Limited
348.50
-0.38
-0.11%
IN:CONCORDBIO
Concord Biotech Ltd.
1,362.85
-194.62
-12.50%
IN:DCAL
Dishman Carbogen Amcis Ltd.
149.30
-142.45
-48.83%
IN:PANACEABIO
Panacea Biotec Limited
346.05
-93.85
-21.33%
IN:SYNGENE
Syngene International Ltd.
347.30
-284.66
-45.04%
IN:ANTHEM
Anthem Biosciences Limited
861.35
78.59
10.04%
Biocon Limited Corporate Events
Biocon’s Pertuzumab Biosimilar Wins Key EMA CHMP Backing Under New Regulatory Path
Sep 21, 2026
Biocon Biologics, the biosimilars arm of Biocon Limited, has secured a positive opinion from the European Medicines Agency’s Committee for Medicinal Products for Human Use for Pebrilzo, its Pertuzumab biosimilar. The product is a 420 mg conc...
Biocon Confirms Electronic Remittance of FY 2025-26 Final Dividend
Sep 9, 2026
Biocon Limited has notified stock exchanges that it has communicated to shareholders the remittance of the final dividend for the financial year 2025-26, and has made this information available on its website. The communication targets shareholder...
Biocon Wins 10-Year Brazil Supply Deal for Breast Cancer Drug Pertuzumab
Sep 8, 2026
Biocon Limited has secured a 10-year Productive Development Partnership contract in Brazil for the HER2-positive breast cancer therapy Pertuzumab, in consortium with Bahiafarma and Bionovis. The agreement grants the partners 100% allocation under ...
Biocon Completes Electronic Remittance of Final Dividend for FY 2025-26
Aug 28, 2026
Biocon Limited has notified the BSE and National Stock Exchange of India that it has remitted the final dividend for financial year 2025-26 to eligible shareholders. The company has distributed ₹0.50 per equity share on a face value of ͅ...
Biocon Wins Japan Approval for Pegfilgrastim Biosimilar, Expanding Biosimilars Footprint
Aug 25, 2026
Biocon Biologics, a subsidiary of Biocon Limited, has received marketing approval in Japan for its pegfilgrastim biosimilar, a version of Amgen’s Neulasta®, from the Ministry of Health, Labour and Welfare. The product will be promoted, ...
Biocon Shareholders Strongly Back 2026 Financials at 48th AGM
Aug 8, 2026
Biocon Limited, a leading Indian biopharmaceutical company, held its 48th Annual General Meeting on August 6, 2026 via video conferencing in line with evolving corporate governance and digital engagement practices. The meeting was convened to cond...
Biocon schedules Q1 FY27 earnings call and shares investor presentation
Aug 6, 2026
Biocon Limited has notified stock exchanges that it will hold its Q1 FY27 earnings call on August 6, 2026, and has shared the related investor presentation with the exchanges and on its website. The disclosure, made under Regulation 30 of SEBIR...
Biocon Wins Health Canada Approval for Yesintek Ustekinumab Autoinjector Pen
Jul 29, 2026
Biocon’s Canadian subsidiary has received Health Canada’s Notice of Compliance for its Yesintek ustekinumab autoinjector pen in 45 mg/0.05 mL and 90 mg/mL presentations, adding to earlier approvals for subcutaneous and intravenous form...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.