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BIOCON.NS

Biocon Ltd.

Healthcare
Price research

Price history

3Y window · 2023-09-25 to 2026-09-22

Start 2023-09-25 ₹264.10
End 2026-09-22 ₹390.00
Change over window +47.67%
Methodology

Price is the daily close from stored Kite history. The other metrics pair that daily price with the company's periodic filings — each fundamental (revenue, EPS, equity…) is held flat at its latest filed value between annual filings, so a ratio steps at each filing and moves daily only through its price term. A metric with no input on file for this company (e.g. EV/EBITDA for a bank, which has no EBIT) is shown as unavailable, never guessed. Share-count-based metrics use the latest diluted share count against split/bonus-adjusted prices.

Technical analysis

Technical indicators

Same window as the price chart above

These reflect only the stock's recent price and volume behavior — not the company's fundamentals — and are not a recommendation to buy or sell. Standard published parameters are used throughout (see each chart's own label); a company with too little stored price history for a given indicator's lookback window shows that plainly below rather than a garbage or misleading value.

Latest value of each line in the charted window
Methodology

MACD (12,26,9), Stochastic Oscillator (14,3) and Money Flow Index (14-day) each carry their own published reference lines/bands (20/80 for the oscillator readings) where one is standard. ADX includes +DI/-DI for direction alongside trend strength; a dashed line marks the commonly published 25 "trending market" reading. ATR is shown in raw rupees here; the price/volume preset screen (below, and on the Screener page) reports it as a % of price so it's comparable across stocks at different price levels. Computed from the same stored daily OHLCV history as the price chart above — no new data source.

Ratios as of FY2025-26 Annual filing · published 2026-05-08
Price (live) ₹390.00 INR fetched 2026-09-23 02:05
Fundamental analysis

Ratios

Calculated from this company's filed figures, and from the current price where a ratio needs one. Every ratio shows its source trace: the filed elements it reads and the arithmetic behind the result.

P/E

163.95

P/E = Price / EPS

Source trace FY2025-26 · Annual filing

P/E = Price / (ProfitOrLossAttributableToOwnersOfParent / PaidUpValueOfEquityShareCapital ÷ FaceValueOfEquityShareCapital) → ₹390.00 / (₹3,856,000,000 / 1,621,000,000 shares) = ₹390.00 / ₹2.38 EPS

ROE

1.13%

ROE = Net Income / Shareholder Equity

Source trace FY2025-26 · Annual filing

ROE = ProfitOrLossAttributableToOwnersOfParent / EquityAttributableToOwnersOfParent → ₹3,856,000,000 / ₹340,318,000,000 = 1.13%

Debt/Equity

0.44

Debt/Equity = Total Debt / Shareholder Equity

Source trace FY2025-26 · Annual filing

Debt/Equity = BorrowingsCurrent + BorrowingsNoncurrent / EquityAttributableToOwnersOfParent → ₹148,247,000,000 / ₹340,318,000,000 = 0.44

Current Ratio

1.22

Current Ratio = Current Assets / Current Liabilities

Source trace FY2025-26 · Annual filing

Current Ratio = CurrentAssets / CurrentLiabilities → ₹171,798,000,000 / ₹140,692,000,000 = 1.22

ROCE

3.77%

ROCE = EBIT / (Shareholder Equity + Total Debt)

Source trace FY2025-26 · Annual filing

ROCE = ProfitBeforeExceptionalItemsAndTax + FinanceCosts / (EquityAttributableToOwnersOfParent + BorrowingsCurrent + BorrowingsNoncurrent) → ₹18,411,000,000 / (₹340,318,000,000 + ₹148,247,000,000) = 3.77%

Dividend Yield

0.14%

Dividend Yield = (Dividends Paid / Diluted Shares Outstanding) / Price

Qualification This is cash paid during the fiscal year, not a per-share rate declared for it (no such element exists in the filing data) — timing can straddle interim/final dividends across years, and pre-FY2020-21 figures may include the since-abolished Dividend Distribution Tax, reading higher than later years for that reason alone.

Source trace FY2025-26 · Annual filing

Dividend Yield = (|DividendsPaidClassifiedAsFinancingActivities| / PaidUpValueOfEquityShareCapital ÷ FaceValueOfEquityShareCapital) / Price → (₹908,000,000 / 1,621,000,000 shares) / ₹390.00 = ₹0.56 / ₹390.00

Growth & quality

Growth & earnings trend

Computed from this company's stored annual filings. Each figure carries the filed values behind it as a tooltip.

Revenue CAGR · 3y 17.4%
Net profit CAGR · 3y -11.5%
Operating margin · FY2025-26 10.9%
ROCE · FY2025-26 3.6%

Revenue & Profit CAGR

Revenue (3y, 7.0y actual)
17.4%
Net Profit (3y)
-11.5%
Revenue (5y, 7.0y actual)
17.4%
Net Profit (5y)
-11.5%
Revenue (10y, 7.0y actual)
17.4%
Net Profit (10y)
-11.5%

Operating Margin Trend

Eroding
FY2018-19
19.8%
FY2019-20
19.0%
FY2020-21
16.8%
FY2021-22
16.7%
FY2022-23
15.9%
FY2023-24
17.6%
FY2024-25
17.6%
FY2025-26
10.9%

ROCE Trajectory

FY2018-19
N/A
FY2019-20
N/A
FY2020-21
N/A
FY2021-22
N/A
FY2022-23
4.4%
FY2023-24
6.3%
FY2024-25
5.9%
FY2025-26
3.6%

Earnings Quality

No persistent gap detected

Net Profit CAGR -12.18% vs CFO CAGR 14.10% over 4.0y (2022-03-31 → 2026-03-31); most recent year: Net Profit -61.95% vs CFO -50.90%

Sector-Relative Percentile

Sector · Healthcare
ROE 7th percentile Better than 3 of 46 sector peers (7th percentile).
ROCE 4th percentile Better than 2 of 46 sector peers (4th percentile).
Debt/Equity 17th percentile Better than 8 of 46 sector peers (17th percentile).
P/E 4th percentile Better than 2 of 46 sector peers (4th percentile).
Forensic accounting

Beneish M-Score

Eight year-over-year accounting indices (Beneish, 1999) computed for Biocon Ltd. across its two most recently stored annual filings. Read the disclosures below before anything past this paragraph.

This is not an accusation and not a finding that any manipulation occurred. Beneish's own paper is explicit that the score identifies companies whose accounting CHARACTERISTICS resemble those of a sample of past manipulators -- nothing more. StockProof never labels a company "manipulator", "red flag" or "suspicious", and never shows any list of companies ordered by this score. The eight components below -- factual statements about figures the company itself filed -- always come before the composite number, which is the inference, not the fact.

The M-Score is calibrated on 74 US-listed companies from 1982-1992 later found to have manipulated earnings (Beneish, M. D. (1999), "The Detection of Earnings Manipulation", Financial Analysts Journal 55(5)) -- not on any Indian company or era. Measured on StockProof's own Nifty 500 universe as of 2026-09-02, 13.6% of companies score above Beneish's own published cutoff. On any realistic base rate of actual earnings manipulation, that flag rate is overwhelmingly false positives, not overwhelmingly real ones.

No "Selling, General & Administrative Expense" element exists anywhere in NSE's filed data. The SGAI component below is approximated as Employee Benefit Expense + Other Expenses, divided by revenue -- a reasonable stand-in for a manufacturer, but for a services company this proxy is closer to the entire cost base than to SG&A specifically. This is disclosed because it is a genuine deviation from Beneish's published specification; its coefficient (-0.172) is the smallest of the eight, which bounds how far the approximation can move the composite.

This measures something different from a financial-distress score like Altman's Z-Score, and the two essentially never agree. Measured on StockProof's own 389-company overlap as of 2026-09-02: only 5 companies were flagged by both, an agreement rate (intersection ÷ union) of 6.2%, and a correlation between the two scores of +0.088 -- closely matching the independently measured +0.092 over 3,242 Malaysian-listed companies. A low Z-Score and a high M-Score are not corroborating each other; they are unrelated measurements.

Comparing FY2024-25FY2025-26

Index Value Beneish's own threshold Reading, vs. that threshold
DSRI — Days' Sales in Receivables Index 0.984 1.031 Below Beneish's published threshold
GMI — Gross Margin Index 0.993 1.014 Below Beneish's published threshold
AQI — Asset Quality Index 1.011 1.039 Below Beneish's published threshold
SGI — Sales Growth Index 1.109 1.134 Below Beneish's published threshold
DEPI — Depreciation Index 0.948 1.077 Below Beneish's published threshold
SGAI — SG&A Index 1.017 1.041 Below Beneish's published threshold
LVGI — Leverage Index 0.857 1.111 Below Beneish's published threshold
TATA — Total Accruals to Total Assets -0.025 0.018 Below Beneish's published threshold
M-Score (composite) -2.477 Beneish's own published cutoff: -1.78 (a looser cutoff sometimes used in Indian applications: -2.22)

This is a reading against a published statistical model, not a finding and not a verdict on this company -- see the disclosures above, especially how this compares to a general population's own measured false-positive rate.

Financials

Quarterly trend

10 stored quarters

Revenue Net Profit Net Profit (loss quarter)
Metric (to shareholders basis) Q4 FY2023-24 Q1 FY2024-25 Q2 FY2024-25 Q3 FY2024-25 Q4 FY2024-25 Q1 FY2025-26 Q2 FY2025-26 Q3 FY2025-26 Q4 FY2025-26 Q1 FY2026-27 Source
Revenue ₹3,917.10 Cr. ₹3,432.90 Cr. ₹3,590.40 Cr. ₹3,821.40 Cr. ₹4,417.00 Cr. ₹3,941.90 Cr. ₹4,295.50 Cr. ₹4,173.00 Cr. ₹4,516.60 Cr. ₹4,336.00 Cr. RevenueFromOperations
Net Profit ₹135.50 Cr. incl. minority ₹222.90 Cr. ₹659.70 Cr. incl. minority ₹861.80 Cr. ₹-16.00 Cr. incl. minority ₹27.10 Cr. ₹25.10 Cr. incl. minority ₹81.10 Cr. ₹344.50 Cr. incl. minority ₹459.40 Cr. ₹31.40 Cr. incl. minority ₹89.20 Cr. ₹84.50 Cr. incl. minority ₹132.80 Cr. ₹143.80 Cr. incl. minority ₹-51.80 Cr. ₹125.90 Cr. incl. minority ₹198.60 Cr. ₹141.10 Cr. incl. minority ₹136.80 Cr. ProfitOrLossAttributableToOwnersOfParent
Basis

Primary figures are Revenue from Operations and Net Profit attributable to shareholders — the basis the ratios use. Where they differ, the companion Gross revenue (incl. inter-segment) and incl. minority net profit (the totals a news headline usually quotes) are shown beneath, each traceable to its own XBRL element. Quarters shown are however many are actually stored (up to 10).

Ownership

Shareholding pattern

Latest filing Jun 2026 · 12 filings on file

Promoter & Promoter Group
44.68%
Public
55.27%
Employee Trusts
0.05%
Promoter % Public %
Metric Sep 2024 Dec 2024 Mar 2025 Jun 2025 Jun 2025 Sep 2025 Dec 2025 Jan 2026 Jan 2026 Mar 2026 Jun 2026 Jun 2026
Promoter & Promoter Group 60.64% 60.64% 60.64% 54.45% 54.45% 54.45% 54.45% 48.27% 44.91% 44.91% 44.68% 44.68%
Public 39.12% 39.14% 39.15% 45.37% 45.37% 45.41% 45.43% 51.63% 54.99% 55.00% 55.27% 55.27%
Employee Trusts 0.25% 0.22% 0.21% 0.18% 0.18% 0.14% 0.12% 0.10% 0.10% 0.09% 0.05% 0.05%
Source

Promoter vs. public shareholding, from NSE's own quarterly shareholding-pattern filings. This is the headline promoter/public split only — a further breakdown by FII/DII/mutual fund holders requires each filing's own detailed disclosure and isn't shown here.

Trading activity

Delivery volume

20 trading days shown

Latest (2026-09-22) 54.9%
Trailing 20-day average 52.3%
Date Traded Qty Delivery Qty Delivery %
2026-09-22 2816261 1546948 54.93%
2026-09-21 3037626 1180904 38.88%
2026-09-18 7901211 6325497 80.06%
2026-09-17 3043285 1730882 56.88%
2026-09-16 1763053 712817 40.43%
2026-09-15 2543144 1121582 44.10%
2026-09-11 3665623 1530584 44.08%
2026-09-10 4737510 2752846 58.11%
2026-09-09 10271402 3865533 37.63%
2026-09-08 2791301 1219064 43.67%
2026-09-07 2488189 1340035 53.86%
2026-09-04 3108555 1688538 54.32%
2026-09-03 1279896 760360 59.41%
2026-09-02 1433504 839667 58.57%
2026-09-01 2120745 1072352 50.56%
2026-08-31 3746419 2334009 62.30%
2026-08-28 2187557 1122493 51.31%
2026-08-27 1713404 794668 46.38%
2026-08-26 2245587 1365829 60.82%
2026-08-25 3087232 1524343 49.38%
Source

Delivery quantity/percentage from the NSE bhavcopy (DELIV_QTY/DELIV_PER) — the share of that day's traded volume that actually settled into a demat account, rather than being squared off intraday. A higher delivery percentage is commonly read as genuine accumulation/distribution rather than speculative same-day trading; this describes recent trading PATTERN, not the company itself, and is not a recommendation to buy or sell. A blank cell is a day NSE itself published no figure for, never a zero.

Insider trading activity

20 disclosures shown

Disclosed Person Category Type Mode Quantity Value (₹) Resulting stake Source
05 Apr 2024 NEHAL VORA Employees/Designated Employees Pledge Pledge Creation 61827 15864808 0.04% XBRL
04 Apr 2024 SIVANANDAM K - Pledge Pledge Creation 7328 1880365 0.00% XBRL
02 Apr 2024 KIRAN KUMAR GANDHIRAJAN Employees/Designated Employees Sell Market Sale 19998 5286351 0.01% XBRL
02 Apr 2024 Akhilesh Nand Employees/Designated Employees Sell Market Sale 11000 2866050 0.01% XBRL
19 Mar 2024 SHASHI KANT TIWARI Employees/Designated Employees Buy ESOP 6792 1709207 0.00% XBRL
05 Mar 2024 MANEESH H GHILDYAL Employees/Designated Employees Sell Market Sale 1000 275800 0.01% XBRL
05 Mar 2024 MANEESH H GHILDYAL Employees/Designated Employees Sell Market Sale 2000 541900 0.01% XBRL
05 Mar 2024 MANEESH H GHILDYAL Employees/Designated Employees Sell Market Sale 5000 1415000 0.01% XBRL
29 Feb 2024 SANTOSH GOVINDRAO KATTI - Buy ESOP 20500 5628275 0.00% XBRL
29 Feb 2024 MANEESH H GHILDYAL Employees/Designated Employees Sell Market Sale 1000 278550 0.01% XBRL
29 Feb 2024 MANEESH H GHILDYAL Employees/Designated Employees Sell Market Sale 1000 277500 0.01% XBRL
29 Feb 2024 MANEESH H GHILDYAL Employees/Designated Employees Sell Market Sale 1000 277350 0.01% XBRL
29 Feb 2024 MANEESH H GHILDYAL Employees/Designated Employees Sell Market Sale 2000 558400 0.01% XBRL
27 Feb 2024 MANEESH H GHILDYAL Employees/Designated Employees Sell Market Sale 5000 1362500 0.01% XBRL
27 Feb 2024 MANEESH H GHILDYAL Employees/Designated Employees Sell Market Sale 2000 540900 0.01% XBRL
26 Feb 2024 Gayatri Nayak Employees/Designated Employees Sell Market Sale 5000 1357500 0.00% XBRL
23 Feb 2024 INDRANIL SEN Employees/Designated Employees Buy ESOP 94071 26452765 0.01% XBRL
23 Feb 2024 INDRANIL SEN Employees/Designated Employees Sell ESOP 39000 10528405 0.00% XBRL
23 Feb 2024 Biocon India Limited Employees Welfare Trust Other Sell ESOP 39000 10528405 0.33% XBRL
22 Feb 2024 MUKESH KAMATH K Employees/Designated Employees Sell Market Sale 5000 1494000 0.01% XBRL
About these disclosures

SEBI PIT (Prohibition of Insider Trading) Regulation 7 disclosures — designated persons (promoters, directors, KMPs, and their immediate relatives) reporting their own dealing in the company's securities, as NSE publishes them. Distinct from the SAST (Regulation 29 substantial-acquisition) filings on the market-wide SAST activity page. Public record only — this is descriptive disclosure data, not a signal, and is not a recommendation to buy or sell.

Filings & evidence

Source documents

FY2025-26 · Annual filing

The raw filing line items behind the figures on this page, and NSE's own filing document where NSE publishes one.

Source document — income statement (FY2025-26, raw filing line items)
Line itemFiled value
ProfitOrLossAttributableToOwnersOfParent3856000000.0
PaidUpValueOfEquityShareCapital ÷ FaceValueOfEquityShareCapital1621000000.0
Source document — balance sheet (FY2025-26, raw filing line items)
Line itemFiled value
CurrentAssets171798000000.0
CurrentLiabilities140692000000.0
EquityAttributableToOwnersOfParent340318000000.0
BorrowingsCurrent + BorrowingsNoncurrent148247000000.0
Research notes

My notes