Biocon Limited (BIOCON) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Biocon Limited ₹57.36, price ₹395, upside -85.5%, quality 31 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Structural break:
The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
Weakest SetupStrongly overvalued and low quality.
!Fair value ₹57.36 · Strongly overvalued (−85%)
!Quality 31/100
!Expensive Growth(revenue 5y +18.8 %/yr)
!Thin margins · 2.3% net margin (TTM)
!Low debt · negative free cash flow
·0.13% dividend yield
!Trails peers(4/13)
!Narrow moat28/100
!Evidence only low, so the estimate is less certain
Watch Biocon Limited for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ₹196.78 – ₹440.70 · fair‑value band ₹40.15 – ₹74.56 · the ₹395.00 price screens above the ₹57.36 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Follow Biocon in your weekly email
Every Wednesday you see whether Biocon is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
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.
Show more
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. 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 ₹395.00, while our model-based Fair Value estimate is ₹57.36, implying the stock looks roughly 588.7% overvalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of ₹191.15 per share, and 0 of the 17 models we run sit above the ₹395.00 price.
Bear case: the Dividend Discount group reads lowest at ₹8.43, and 17 of the 17 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹40.15 (bear) to ₹74.56 (bull), the price of ₹395.00 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 31/100 (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 ₹708B (≈ $7.4B) · P/E ratio 142.1 · P/S ratio 3.24 · EPS (TTM) ₹2.78 · Dividend yield 0.1% · Net margin 2.3% · Return on equity 1.2% · Return on assets (EBIT) 7.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 10% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −5% fair-value upside, at −85%, BIOCON screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (₹8.43 to ₹250.70). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ₹40.15Fair Value ₹57.36Bull ₹74.56
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹1.11 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+10.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.8%
Start year 2021 (pandemic). Over 10 years: +17.6% a year
Revenue growth 22 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.3%
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
’26
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−14.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−14.5%
Dividend (yield on the price)0.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−15% vs −6%, slowing
Profit margin 2020 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.26% → 9%
News mood ⓘNews mood, the average tone of recent news (46 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Negative
Recent news coverage is more negative than average.
Price, fair value, quality and upside side by side.
Free, no sign-up
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 · 651 stocks
Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score31 · Bottom 25%
Fair Value upside−86% · Bottom 25%
Profitability
Return on equity (TTM)1% · Above median
Return on assets2% · Above median
Net margin (TTM)2% · Below median
Operating margin (TTM)11% · Above median
Growth and dividend
Revenue growth2% · Above median
Dividend yield (TTM)0.1% · Bottom 25%
Balance sheet
Debt / equity0.32× · Highest 25%
Valuation Multiplesvs Biotechnology median · lower = cheaper
P/E (TTM)142.1× · Priciest 25%
P/B2.08× · Pricier than median
P/S (TTM)4.18× · Pricier than median
EV/EBITDA22.7× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)12· sector 0
PAST (return on equity)5· sector 0
HEALTH (low debt)84· sector 97
DIVIDEND (yield)3· sector 23
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Biocon Limited Fair Value". https://www.fairvalue-calculator.com/stock/BIOCON
Frequently asked questions
Is Biocon Limited (BIOCON) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹57.36 versus a price of ₹395.00, about −85% upside (overvalued).
What is the fair value of BIOCON?
Our model-based fair value for Biocon Limited is ₹57.36 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹395.00.
What is the quality score of BIOCON?
Biocon Limited has a Quality Score of 31/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Biocon Limited (BIOCON)?
Our model-based price target is the fair value of ₹57.36 (as of Sep 24, 2026) from 17 valuation models. Cautious scenario ₹40.15, optimistic scenario ₹74.56. It is a calculation from audited fundamentals, not an analyst target.
What is the Biocon Limited stock forecast for 2026?
Our models put fair value at ₹57.36, about −85% upside versus a price of ₹395.00 (overvalued). Cautious scenario ₹40.15, optimistic scenario ₹74.56. The calculation is refreshed regularly with new filings.
What is the revenue of Biocon Limited (BIOCON)?
Biocon Limited reported trailing-twelve-month revenue of about ₹169B (latest available figure, as of Sep 24, 2026).
Does Biocon Limited pay a dividend?
Biocon Limited currently shows a dividend yield of about 0.13% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Biocon Limited (BIOCON)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Biocon Limited it is ₹57.36 per share (as of Sep 24, 2026), against a price of ₹395.00. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Biocon Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, BIOCON trades above its calculated fair value: price ₹395.00, fair value ₹57.36, a gap of about −85% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BIOCON?
No. The price is what the market pays today (₹395.00); the fair value is what the company's own numbers justify (₹57.36). For Biocon Limited the two are ₹337.64 per share apart. That gap is exactly why we show both numbers side by side.
How much is Biocon Limited worth?
The market values Biocon Limited at about ₹708B (market capitalisation, as of Sep 24, 2026). Per share that is ₹395.00; our models calculate a fair value of ₹57.36 per share.
What do the bullish and bearish scenarios say about BIOCON?
Our models span a range for Biocon Limited: cautious scenario ₹40.15, base ₹57.36, optimistic ₹74.56 per share (as of Sep 24, 2026, price ₹395.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BIOCON?
Biocon Limited trades at a price-to-earnings ratio of 142.1 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹57.36 is built from several models across several years. Other multiples: P/B 2.1, P/S 4.2, EV/EBITDA 22.7.
How solid is the balance sheet of Biocon Limited (BIOCON)?
Balance-sheet figures for Biocon Limited (as of Sep 24, 2026): return on equity 1.2%, debt of 0.32 per unit of equity. They feed the Quality Score of 31/100, which measures business quality independently of the share price.
How far is BIOCON from its 52-week high?
Biocon Limited trades at ₹395.00, about 10% below its 52-week high of ₹440.70 and 17% above the low of ₹338.49 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of ₹57.36 is for.
Which stocks are comparable to Biocon Limited?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, Samsung Biologics Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Biocon Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹395.00, calculated fair value ₹57.36 (−85%), Quality Score 31/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BIOCON calculated?
We run Biocon Limited through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹57.36, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Biocon Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Biocon Limited (BIOCON)?
The closing price on Sep 23, 2026 was ₹395.00. Our model-based fair value is ₹57.36, about −85% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Biocon Limited right now?
The price sits above even our optimistic bull case (₹74.56). The favourable scenario is already priced in. Weak quality (31/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (₹40.15 to ₹74.56) leaves room in how you read the outcome.
Where does the earnings growth of Biocon Limited (BIOCON) come from?
Earnings per share at Biocon Limited grew +1.5 % a year from 2015 to 2026. Broken into its drivers: revenue per share +17.6 %, EBIT margin −3.1 %, tax rate −1.0 %, residual (interest, one-offs) −10.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Biocon Limited
How large is the market capitalisation of Biocon Limited (BIOCON)?
The market capitalisation of Biocon Limited is ₹708B (≈ $7.4B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Biocon Limited (BIOCON)?
The price-to-sales ratio of Biocon Limited is 3.24 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Biocon Limited (BIOCON)?
Earnings per share at Biocon Limited are ₹2.78 (price ÷ EPS = P/E 142.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Biocon Limited (BIOCON)?
The dividend yield of Biocon Limited is 0.1% (payout 18.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Biocon Limited (BIOCON)?
The net margin of Biocon Limited is 2.3% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Biocon Limited (BIOCON)?
The return on equity (ROE) of Biocon Limited is 1.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Biocon Limited (BIOCON)?
On an EBIT basis the return on assets of Biocon Limited is 7.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Biocon Limited (BIOCON)?
The operating margin of Biocon Limited is 11.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Biocon Limited (BIOCON)?
Revenue at Biocon Limited is growing +2.3% versus a year earlier (3y avg +14.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Biocon Limited (BIOCON)?
Earnings per share at Biocon Limited are growing −72.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Biocon Limited (BIOCON) generate?
The free cash flow of Biocon Limited is −₹5.2B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Biocon Limited (BIOCON) carry?
The net debt of Biocon Limited is ₹122B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Biocon Limited in the live analysis
One click puts Biocon Limited on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
