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BIOCON - Fundamental Analysis: Financial Health & Valuation

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Rating: 3.5

Last Updated Time : 19 Mar 26, 07:10 pm

Fundamental Rating: 3.5

Stock Code BIOCON Market Cap 61,926 Cr. Current Price 382 ₹ High / Low 425 ₹
Stock P/E 318 Book Value 120 ₹ Dividend Yield 0.13 % ROCE 2.09 %
ROE 0.40 % Face Value 5.00 ₹ DMA 50 383 ₹ DMA 200 372 ₹
Chg in FII Hold 0.53 % Chg in DII Hold 2.07 % PAT Qtr 111 Cr. PAT Prev Qtr 70.9 Cr.
RSI 48.7 MACD 0.96 Volume 23,16,385 Avg Vol 1Wk 30,38,683
Low price 295 ₹ High price 425 ₹ PEG Ratio -17.1 Debt to equity 0.16
52w Index 67.1 % Qtr Profit Var 3,183 % EPS 0.07 ₹ Industry PE 27.6

📊 Financials

  • Revenue Growth: PAT improved from 70.9 Cr. to 111 Cr. (+3,183% YoY), but base remains small
  • Profit Margins: Weak, EPS only 0.07 ₹ despite large market cap
  • Debt Ratios: Debt-to-Equity 0.16, low leverage
  • Cash Flows: Supported by biotech operations, but efficiency is poor
  • Return Metrics: ROE 0.40%, ROCE 2.09% — very weak returns

💹 Valuation

  • P/E Ratio: 318 (extremely high vs Industry PE 27.6)
  • P/B Ratio: ~3.18 (reasonable, but valuation stretched due to earnings weakness)
  • PEG Ratio: -17.1 (negative, indicates poor growth outlook)
  • Intrinsic Value: Current price (382 ₹) near DMA 50 (383 ₹) & DMA 200 (372 ₹), showing consolidation

🏢 Business Model & Competitive Advantage

  • Biopharmaceutical company with focus on generics, biosimilars, and research
  • Strong R&D base and partnerships
  • Competitive advantage in niche biotech segments
  • Weak profitability metrics limit overall health

📈 Entry Zone Recommendation

  • Entry Zone: 360–380 ₹ (near DMA support levels)
  • Long-Term Holding: Suitable only for investors with high risk tolerance; valuations are risky given weak returns

✅ Positive

  • Quarterly PAT growth (+3,183% YoY)
  • DII holding increased (+2.07%)
  • FII holding increased (+0.53%)
  • Low debt-to-equity ratio (0.16)

⚠️ Limitation

  • Extremely high P/E ratio (318)
  • Weak ROE (0.40%) and ROCE (2.09%)
  • Negative PEG ratio (-17.1), poor growth outlook

📉 Company Negative News

  • Profitability remains weak despite revenue growth
  • Valuation stretched far above industry average

📈 Company Positive News

  • DII holding increased (+2.07%)
  • FII holding increased (+0.53%)
  • Quarterly PAT improved significantly

🏭 Industry

  • Biotech and pharma industry supported by global demand
  • Industry PE at 27.6, Biocon trades at a steep premium

🔎 Conclusion

Biocon is a biotech company with strong R&D and sectoral importance, but profitability metrics remain weak. Despite PAT growth, ROE and ROCE are very low, and valuations are extremely stretched with a P/E of 318. Entry around 360–380 ₹ may be considered for long-term investors betting on biotech expansion, but caution is advised due to poor efficiency and high valuation risk.

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