Indegene (INDGN) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 revenues reached INR 7,204 million, up 4.9% sequentially and 7% year-over-year, driven by wins in both top 20 and mid-tier pharma clients.

• EBITDA grew 18.5% sequentially to INR 1,501 million, with margins improving to 20.8% due to productivity and automation initiatives.

• PAT for the quarter was INR 1,097 million, up 19.6% sequentially, with PAT margins at 15.2%.

• Active client count increased to 75, with 38 clients generating over $1 million in revenue.

• Board approved unaudited consolidated and standalone financial results for the quarter and nine months ended 31 December 2024.

Financial highlights

• Revenue from operations: INR 7,204 million in Q3 FY25, up 7.0% YoY and 4.9% QoQ.

• EBITDA: INR 1,501 million, up 18.5% QoQ; EBITDA margin at 20.8%.

• PAT: INR 1,097 million, up 19.6% QoQ and 11.1% YoY; PAT margin at 15.2%.

• Cash and cash equivalents at INR 15,079 million as of Q3 FY25.

• Basic EPS for Q3 FY25 was ₹4.59, up from ₹4.45 in Q3 FY24.

Outlook and guidance

• Industry outlook for 2025 is cautiously optimistic, with biopharma companies expecting new product launches and improved pipelines.

• Renewals and a stronger pipeline position the company for continued growth, especially in mid-tier pharma.

• Ongoing investments in technology, automation, and M&A are expected to support future expansion.

• Management expects ongoing earnings growth supported by operational efficiencies.

• Management and auditors confirm compliance with Indian Accounting Standards and regulatory requirements.