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Indian biopharma making biosimilars (insulins, monoclonal antibodies), generic APIs and branded formulations for India.
Indian biopharma making biosimilars (insulins, monoclonal antibodies), generic APIs and branded formulations for India.
Sells biosimilars, near-copies of biologic drugs whose patents have expired, which it widened in 2022 by taking over Viatris's biosimilars business and marketing them itself in the US and Europe. Generic ingredients and branded drugs in India add steadier income. Syngene, a listed research-services company, is a separately traded subsidiary.
In one line: India's Amgen-meets-generic-insulin maker.
Moat: narrow (scale, regulatory licence, process know-how). One of few emerging-market makers with FDA/EMA-approved biosimilar insulin and oncology manufacturing.
Headquarters: Bengaluru, India · Founded: 1978 · Employees: 5,261
Size Biocon (BIOCON.NS) is an India Health Care company (Pharmaceuticals: Major) with a market value of $6.28B, the 180th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹365.10 on 6 Nov 2026.
Performance Over six months the shares fell 4.5%, against -1.3% for the median peer and 0.0% for the India market (cap-weighted) — 10th lowest of 20 in its peer set.
Growth Revenue grew 5.7% over the last twelve months (peer median +7.6%); the operating margin is 8.0% (peer median 19.6%).
Valuation It trades at 56.4× forward earnings against a peer median of 18.6× (most expensive of 16).
Capital Return on invested capital runs 10.3 points below its cost of capital (12.3% WACC).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹174B | ₹169B | ₹152B | ₹147B | ₹111B |
| Revenue growth | — | +11% | +3% | +33% | — |
| Gross profit | ₹60.6B | ₹44.5B | ₹41.6B | ₹45.9B | ₹34.3B |
| EBITDA | ₹35.3B | ₹36.2B | ₹33.4B | ₹42.0B | ₹30.7B |
| Net income | ₹4.52B | ₹3.86B | ₹10.1B | ₹10.2B | ₹4.63B |
| Free cash flow | n/a | -₹5.21B | ₹14.1B | ₹5.71B | -₹1.06B |
| Capital expenditure | n/a | ₹19.1B | ₹23.4B | ₹19.3B | ₹17.3B |
| Total debt | ₹157B | ₹154B | ₹184B | ₹163B | ₹180B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Biocon BIOCON.NS | $6.28B | -4% | +6% | 8% | 56.4× | n/a |
| Sun Pharmaceutical Industries SUNPHARMA.NS | $47.3B | +1% | +12% | 23% | 35.4× | 28.4% |
| Dr. Reddy's Laboratories DRREDDY.NS | $12.1B | +5% | -4% | 9% | 31.8× | 30.1% |
| Celltrion 068270.KS | $34.3B | +10% | +40% | 32% | 34.1× | 8.3% |
| Viatris VTRS | $22.9B | +17% | +5% | 10% | 7.5× | 12.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BIOCON.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.4% | +1.8% | 11th highest of 21 |
| 6-month return | -4.5% | -1.3% | 10th lowest of 20 |
| Distance from 52-week high | -18.4% | -14.8% | 10th lowest of 21 |
| Revenue growth (TTM) | +5.7% | +7.6% | 8th lowest of 17 |
| Operating margin | 8.0% | 19.6% | 4th lowest of 18 |
| Forward P/E | 56.4× | 18.6× | most expensive of 16 |
| ROIC minus cost of capital | -10.3 pp | +1.5 pp | 5th lowest of 18 |
| EV / EBITDA | 21.1× | 14.2× | 4th most expensive of 10 |
| Net debt / EBITDA | 3.7× | -0.2× | 4th most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Biocon BIOCON.NS | India | $6.28B | -4% | +6% | 8% | 56.4× | n/a | n/a |
| Belite Bio, Inc. ADR BLTE | United States | $6.20B | 0% | n/a | n/a | n/a | n/a | n/a |
| Samsung Epis 0126Z0.KS | South Korea | $6.39B | -36% | n/a | -25% | 24.0× | n/a | n/a |
| Gan & Lee Pharmaceuticals 603087.SS | China | $6.40B | +21% | +14% | 20% | 29.7× | n/a | n/a |
| Ligand Pharmaceuticals LGND | United States | $6.12B | +38% | +1% | 14% | 28.0× | 57.8% | +7.5% |
| Mirum Pharmaceuticals MIRM | United States | $6.12B | -13% | +42% | -21% | n/a | n/a | n/a |
| China Resources Sanjiu Medical & Pharmaceutical 000999.SZ | China | $6.48B | 0% | +4% | 14% | 12.8× | -6.3% | +18.4% |
| Ionis Pharmaceuticals IONS | United States | $6.55B | -48% | -7% | -68% | n/a | n/a | n/a |
| Abbott India ABBOTINDIA.NS | India | $5.93B | -1% | +6% | 28% | 32.4× | 11.4% | +10.0% |
| Alkem Laboratories ALKEM.NS | India | $6.67B | -5% | +13% | 17% | 27.4× | 24.3% | +10.7% |
| Shanghai Allist Pharmaceuticals 688578.SS | China | $5.90B | -6% | +39% | 47% | 13.8× | 1.8% | +519.6% |
| Oruka Therapeutics ORKA | United States | $6.81B | +59% | n/a | n/a | n/a | n/a | n/a |
| Veradermics MANE | United States | $5.80B | +31% | n/a | n/a | n/a | n/a | n/a |
| RemeGen 688331.SS | China | $6.90B | -26% | +272% | 61% | 11.9× | 2.8% | +303.3% |
| ONO Pharmaceutical 4528.T | Japan | $7.01B | +2% | -2% | 22% | 14.7× | -8.2% | +10.8% |
| Amneal Pharmaceuticals AMRX | United States | $7.01B | +53% | +9% | 17% | 17.7× | 15.2% | +8.7% |
| Apotex Health APTX.TO | Canada | $5.62B | n/a | +4% | 32% | 18.6× | -13.5% | +4.2% |
| Gland Pharma GLAND.NS | India | $5.53B | +69% | +18% | 20% | 39.0× | 28.0% | +13.3% |
| PTC Therapeutics PTCT | United States | $5.47B | -11% | -35% | 22% | 34.8× | 8.0% | +35.4% |
| Supernus Pharmaceuticals SUPN | United States | $5.43B | -49% | +16% | 45% | 6.7× | 4.2% | +13.9% |
| Huadong Medicine 000963.SZ | China | $7.29B | -17% | +2% | 9% | 14.0× | -2.7% | +5.3% |