Biocon Limited (BIOCON) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Biocon Limited stock ₹48.48, price ₹369, that is 86.8% below the price, quality 30 out of 100. Rating: strongly overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
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Biocon Limited
BIOCON · NSEOur calculation puts a fair price 87% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range ₹196.78 – ₹440.70 · fair‑value band ₹33.93 – ₹67.92 · the ₹368.50 price screens above the ₹48.48 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Company profile
Biocon Limited, together with its subsidiaries, manufactures and sells biotechnology products and research services in India, the United States, Ireland, rest of the European Union, and internationally. It operates through Generics, Biosimilars, and Research segments.
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The company offers generic formulations and API products, including cardiovascular, anti-diabetics, obesity, multiple sclerosis, anti-fungal, anti-cancer, immunosuppressants, and specialty molecules; and biosimilars products consisting of pegfilgrastim, trastuzumab, bevacizumab, adalimumab, etanercept, ustekinumab, glargine, aspart, insulins, and aflibercept.
It also provides integrated discovery, development, and manufacturing services to pharmaceutical, biotechnology, animal healthcare, consumer goods, and agrochemical companies.
In addition, the company offers enzyme, biopharmaceutical, and medicinal goods; contract research and manufacturing services, and other research and development in the fields of pharmaceuticals, drug discovery, biotechnology pharmaceuticals, and medicinal sciences, etc.; clinical research; and business support and development, and marketing services.
Biocon Limited was incorporated in 1978 and is headquartered in Bengaluru, India.
Stock analysis
Biocon Limited (BIOCON) currently trades at ₹368.50, while our model-based Fair Value estimate is ₹48.48, 87% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of ₹75.73 per share, and 0 of the 16 models we run sit above the ₹368.50 price.
Bear case: the Dividend Discount group reads lowest at ₹7.56, and 16 of the 16 models stay below the price. Data coverage for this calculation is low.
Scenario range: ₹33.93 (bear) to ₹67.92 (bull), the price of ₹368.50 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 30/100 (below-average quality), in the Healthcare sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Biocon Limited reported revenue of ₹169B in FY2026 versus ₹81.8B in FY2022, a compound +19.9%/yr. Reported net income was ₹3.9B in FY2026, compounding −12.2%/yr from FY2022.
Key figures
Market cap ₹604B (≈ $6.4B) Mid · P/E ratio 123.7 · P/S ratio 3.48 · EPS (TTM) ₹2.98 · Dividend yield 0.1% · Net margin 2.6% · Return on equity 1.0% · Return on assets (EBIT) 7.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 25 out of 100 (medium confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 16% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at −87%, BIOCON screens richer than that median.
Fair Value models
All 16 models by family
The fair value above starts from this blend and is adjusted for dilution from new shares.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Compare Biocon Limited with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 559 stocks
Valuation Multiplesvs Biotechnology median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Health Care sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- P/B ratio by industry
- Net margin by industry
- Stock screener with 62 metrics
- Undervalued stocks: Indian Stocks
- Valuation of the India market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Biotechnology stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Incyte Corporation INCY | $119.65 | $199.23 | +67% | vs BIOCON |
| Regeneron Pharmaceuticals, Inc REGN | $904.35 | $1,275 | +41% | vs BIOCON |
| Samsung Biologics Co 207940 | 1,510,000 KRW | 1,667,600 KRW | +10% | vs BIOCON |
| Vertex Pharmaceuticals Incorporated VRTX | $547.09 | $601.80 | +10% | vs BIOCON |
| Genmab A/S GMAB | kr 3,527 | kr 3,880 | +10% | vs BIOCON |
| WuXi Biologics (Cayman) Inc 2269 | HK$48.92 | HK$52.38 | +7% | vs BIOCON |
| argenx SE ARGX | $927.21 | $908.40 | −2% | vs BIOCON |
| CSL Limited CSL | A$200.77 | A$183.04 | −9% | vs BIOCON |
| Celltrion, Inc 068270 | 210,000 KRW | 74,945 KRW | −64% | vs BIOCON |
| Royalty Pharma plc RPRX | $67.30 | $19.01 | −72% | vs BIOCON |
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Key figures of Biocon Limited
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