Indegene Limited (INDGN) Fair Value & Analysis
Healthcare · IN · Market cap ₹135B (≈ $1.4B) · ISIN INE065X01017
What is Indegene Limited really worth?
A solid business, but trading 75% above our fair value of ₹342.52.
As of Aug 21, 2026, the fair value of Indegene Limited is ₹342.52 per share against a price of ₹600.40, so the fair value sits 43% below the price. A model estimate blended from multiple valuation models, recalculated regularly.
Strengths
Risks
Fair value as of: Aug 21, 2026
From 24 valuation models · updated 16 days ago
Share price +11.1% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (₹430.37). The favourable scenario is already priced in.
- Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (2 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.
How to read this chart
28‑month range ₹422.44 – ₹727.36 · fair‑value band ₹254.66 – ₹430.37 · the ₹600.40 price screens above the ₹342.52 fair value. Dashed = 300-day average. As of Aug 21, 2026.
Analysis
Indegene Limited (INDGN) currently trades at ₹600.40, while our model-based Fair Value estimate is ₹342.52, implying the stock looks roughly 75.3% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of ₹557.79 per share, and 4 of the 24 models we run sit above the ₹600.40 price. Bear case: the Asset-Based group reads lowest at ₹87.33, and 20 of the 24 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Indegene Limited generated revenue of ₹38.1B at a net margin of 10.5%. Revenue grew 39.7% year over year. It earns a return on equity of 13.9%. Net debt stands at ₹2.1B. Fundamentals as of Aug 21, 2026
Our scenario range runs from ₹254.66 (bear case) to ₹430.37 (bull case); at ₹600.40, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 45% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −68% fair-value upside, at −43%, INDGN screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹7.23 per share, which is 2.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: DCF Models (₹557.79) versus Asset-Based (₹87.33). Highest evidence: Growth DCF (72).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 64 · Market factors (momentum, volatility) 68
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Indegene Limited operates as a life sciences commercialization company in India, the United States, Europe, and internationally. It operates through three segments: Enterprise Medical Solutions, Enterprise Commercial Solutions, and Omnichannel Activation & Others.
Full company description
Indegene Limited operates as a life sciences commercialization company in India, the United States, Europe, and internationally. It operates through three segments: Enterprise Medical Solutions, Enterprise Commercial Solutions, and Omnichannel Activation & Others. The company develops biotech and medical device for biopharmaceutical, emerging biotech, and medical device companies. It also offers enterprise commercial, medical, and clinical solutions; and omnichannel activation solutions. In addition, the company operates NEXT technology platforms. Further, it provides analytics, technology, commercial, medical, regulatory, and safety services to life science and healthcare organizations. Indegene Limited was incorporated in 1998 and is based in Bengaluru, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Indegene Limited reported revenue of ₹35.1B in FY2026 versus ₹16.6B in FY2022, a compound +20.5%/yr. Reported net income was ₹4.0B in FY2026, compounding +24.9%/yr from FY2022.
INDGN screens 75% overvalued. Compare with Veeva Systems Inc →
Peer Group
Health Information Services · 128 stocks
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.
Valuation Multiples vs Health Information Services median · lower = cheaper
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Health Information Services stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Veeva Systems Inc VEEV | $282.13 | $91.49 | −68% |
| Pro Medicus Limited PME | A$183.71 | A$23.74 | −87% |
| BrightSpring Health Services, Inc BTSG | $59.68 | $21.31 | −64% |
| HealthEquity, Inc HQY | $104.27 | $56.63 | −46% |
| Hinge Health, Inc HNGE | $86.32 | $24.03 | −72% |
| 10x Genomics, Inc TXG | $55.63 | $17.18 | −69% |
| Waystar Holding WAY | $25.76 | $12.86 | −50% |
| XtalPi Holdings 2228 | HK$8.19 | HK$1.04 | −87% |
| Doximity, Inc DOCS | $26.35 | $25.91 | −2% |
| Privia Health Group PRVA | $21.07 | $5.26 | −75% |
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