Concord Biotech
Concord Biotech
HealthcareKey Fundamentals
SmallcapPharmaceuticalsHealthcareTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
3- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 28.2%
Weaknesses
3- Stock is trading at 7.12 times its book value
- The company has delivered a poor sales growth of 11.3% over past five years.
- Company has high debtors of 159 days.
Growth Rate
AI Analysis — Bull vs Bear
Concord Biotech has a market capitalisation of about Rs 15,353 crore and trades at a P/E of 56.6 and a P/B of 7.66. Recent results are weak: TTM sales fell 6% and TTM profit fell 20%, and last year's ROE of 13% is below the 3-year average of 18%. On the positive side, the balance sheet is almost debt-free, the company pays out 28.2% of profits as dividends, and sales have compounded at 14% over 10 years.
- The company is almost debt-free and has reduced debt, which gives it room to fund capacity expansion and absorb a cyclical slowdown without balance-sheet strain.
- Sales compounded at 14% over 10 years and profit at 11% over 10 years, a long record of growth in a specialised, fermentation-based API business.
- ROE averaged 18% over both 3 and 5 years, showing the business has earned healthy returns across a full cycle despite last year's dip to 13%.
- The company keeps a dividend payout of 28.2%, giving a dividend yield of 0.51% while still retaining most earnings for reinvestment.
- 5-year sales CAGR of 11.3% is steady for a mid-sized API maker, and the TTM sales decline of 6% could be a cyclical dip rather than a structural break if the longer trend reasserts itself.
- The stock has returned a 13% CAGR over 3 years despite the 7% decline over the past year, so long-term holders have still seen positive compounding.
- With a market cap of about Rs 15,353 crore, the company is a mid-cap with room to scale if growth recovers toward its 10-year sales CAGR of 14%.
- A P/E of 56.6 prices in strong growth, but TTM profit fell 20% and 3-year and 5-year profit CAGRs are only 1%. That gap between valuation and recent earnings momentum is wide.
- The stock trades at 7.66 times book value. That is a high premium for a company whose latest ROE is 13%, and it limits valuation support if growth disappoints.
- TTM sales fell 6% and 3-year sales CAGR is just 7%, well below the 10-year CAGR of 14%, which points to a clear growth slowdown.
- Debtor days of 159 are high. A large share of revenue is tied up in receivables, which strains working capital and cash conversion.
- ROE fell from a 3-year average of 18% to 13% last year, showing weaker capital efficiency as profits declined.
- Profit growth of 1% over both 3 and 5 years lags sales growth of 7% and 11% over the same periods, which suggests margin pressure or higher costs.
- The stock fell 7% over the past year, reflecting the market's reaction to the TTM declines of 6% in sales and 20% in profit.
- A dividend yield of 0.51% gives little income cushion at current valuations if the share price stays weak.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- First-ever 1:1 bonus approved Sep 21
On Sep 23 the board approved a 1:1 bonus, issuing 10.46 crore shares by capitalising ₹10.46 crore of the ₹81.97 crore share premium account. Paid-up capital doubles to ₹20.92 crore, subject to shareholder approval, with completion expected by Nov 22, 2026.
- Strong Q1FY27 earnings growth Sep 21
Q1FY27 net profit rose 32.8% YoY to ₹58.5 crore and revenue grew 26.2% to ₹257.4 crore. EBITDA rose 34.2% to ₹82.4 crore, and margin widened to 32% from 30.1%.
- Valthera unit clears USFDA inspection Sep 18
The USFDA inspection of the Valthera formulation facility in Gujarat closed with one minor procedural observation that is not GMP-related. The company expects no material impact on supplies, and the stock rose 1.36% to ₹1,481.95 on BSE.
- Stock up ~50% in six months Sep 21
The stock closed at ₹1,560.30 on NSE on Sep 23 (+1.82%), with market cap at ₹16,323 crore. Reported gains are about 50% over six months, 18% over three months and 17% YTD, off a 52-week low of ₹987 on Apr 2, 2026.
- Authorised capital doubled to ₹22cr Sep 21
The board raised authorised share capital from ₹11 crore to ₹22 crore by creating 11 crore new shares of Re 1 each. This makes room for the bonus issue and gives flexibility for future corporate actions.
- Jhunjhunwala trusts hold 24% stake Sep 21
At end-June, promoters held 44.08% and the public held 55.92%. Three Jhunjhunwala family trusts hold 8.03% each (24.09% in total), and about 79,000 small retail holders own 7.03%.
- JP Morgan analyst meet hosted Sep 17
The company held a group meeting with investors and analysts in Ahmedabad on Sep 23, 2026, as part of the JP Morgan Healthcare Trip.
- Trading window shut for Q2FY27 Sep 28
The trading window closes from Oct 1, 2026 until 48 hours after the Q2FY27 results are declared. This follows an earlier closure that ran to Sep 26 around the bonus board meeting.
TL;DR: Concord Biotech has strong momentum: Q1FY27 profit grew about 33% with margins rising to 32%, the Valthera USFDA inspection closed cleanly, and its first-ever 1:1 bonus issue has the stock up about 50% over six months. No direct negatives came up, but the sharp rally raises the bar on valuation, the stock still trades below its 52-week high of about ₹1,700, and the bonus still needs shareholder approval. The trend is improving. Q2FY27 results will show whether 25%+ revenue growth and margin gains can last, and the bonus record date could add near-term volatility.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 195 | 262 | 241 | 319 | 216 | 310 | 244 | 430 | 204 | 247 | 278 | 326 | 261 |
| Expenses | 123 | 143 | 135 | 185 | 135 | 174 | 146 | 239 | 143 | 157 | 176 | 204 | 173 |
| Operating Profit | 72 | 119 | 106 | 134 | 81 | 137 | 98 | 190 | 61 | 91 | 102 | 122 | 87 |
| OPM % | 37% | 45% | 44% | 42% | 38% | 44% | 40% | 44% | 30% | 37% | 37% | 38% | 33% |
| Other Income | 7 | 8 | 8 | 11 | 10 | 10 | 15 | 9 | 14 | 13 | 7 | 16 | 13 |
| Interest | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 13 | 13 | 14 | 14 | 13 | 13 | 13 | 15 | 18 | 18 | 19 | 19 | 18 |
| PBT | 65 | 113 | 100 | 131 | 78 | 133 | 99 | 185 | 57 | 86 | 90 | 118 | 82 |
| Tax % | 25% | 25% | 26% | 26% | 25% | 26% | 25% | 23% | 26% | 26% | 25% | 24% | 26% |
| Net Profit | 48 | 84 | 75 | 97 | 58 | 99 | 74 | 142 | 43 | 63 | 68 | 90 | 61 |
| EPS in Rs | 4.63 | 8.08 | 7.13 | 9.29 | 5.57 | 9.43 | 7.08 | 13.57 | 4.07 | 6.01 | 6.48 | 8.6 | 5.85 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 239 | 276 | 340 | 436 | 512 | 617 | 713 | 853 | 1,017 | 1,200 | 1,055 | 1,112 |
| Expenses | 133 | 145 | 212 | 256 | 308 | 289 | 439 | 509 | 585 | 693 | 678 | 709 |
| Operating Profit | 105 | 131 | 127 | 180 | 205 | 328 | 274 | 344 | 432 | 507 | 377 | 402 |
| OPM % | 44% | 48% | 37% | 41% | 40% | 53% | 38% | 40% | 42% | 42% | 36% | 36% |
| Other Income | 11 | 8 | 36 | 17 | 31 | 14 | 23 | 35 | 34 | 44 | 49 | 49 |
| Interest | 1 | 0 | 1 | 1 | 1 | 1 | 6 | 5 | 3 | 1 | 1 | 0 |
| Depreciation | 10 | 10 | 18 | 19 | 21 | 28 | 50 | 54 | 54 | 54 | 74 | 75 |
| PBT | 106 | 129 | 144 | 178 | 213 | 313 | 241 | 320 | 409 | 496 | 351 | 376 |
| Tax % | 34% | 33% | 30% | 33% | 21% | 25% | 26% | 26% | 26% | 25% | 25% | — |
| Net Profit | 70 | 87 | 100 | 118 | 169 | 235 | 179 | 238 | 305 | 373 | 263 | 282 |
| EPS in Rs | 76.32 | 94.78 | 106 | 124 | 178 | 247 | 188 | 22.76 | 29.13 | 35.65 | 25.17 | 26.94 |
| Div. Payout % | 22% | 25% | 0% | 21% | 22% | 0% | 3% | 30% | 30% | 25% | 30% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 |
| Reserves | 268 | 329 | 585 | 673 | 761 | 990 | 1,098 | 1,282 | 1,515 | 1,802 | 2,009 |
| Borrowings | 35 | 36 | 22 | 9 | 52 | 89 | 62 | 32 | 10 | 3 | 1 |
| Other Liabilities | 55 | 74 | 69 | 71 | 118 | 94 | 144 | 191 | 164 | 219 | 216 |
| Total Liabilities | 367 | 448 | 685 | 763 | 941 | 1,183 | 1,313 | 1,515 | 1,699 | 2,034 | 2,237 |
| Fixed Assets | 104 | 110 | 189 | 230 | 240 | 546 | 573 | 593 | 575 | 795 | 786 |
| CWIP | 19 | 70 | 3 | 19 | 141 | 18 | 74 | 173 | 211 | 51 | 79 |
| Investments | 42 | 43 | 151 | 229 | 199 | 142 | 74 | 138 | 244 | 335 | 488 |
| Other Assets | 202 | 225 | 343 | 285 | 361 | 477 | 592 | 611 | 668 | 854 | 883 |
| Total Assets | 367 | 448 | 685 | 763 | 941 | 1,183 | 1,313 | 1,515 | 1,699 | 2,034 | 2,237 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | — | — | 79 | — | 155 | 167 | 207 | 246 | 265 | 245 | 264 |
| Investing | — | — | -42 | — | -114 | -195 | -112 | -158 | -155 | -160 | -142 |
| Financing | — | — | -37 | — | -43 | 31 | -100 | -85 | -99 | -99 | -115 |
| Net Cash Flow | — | — | 0 | — | -1 | 3 | -4 | 3 | 12 | -14 | 7 |
| Free Cash Flow | — | — | 79 | — | -1 | -37 | 52 | 101 | 180 | 134 | 169 |
| CFO/OP | — | — | 101 | — | 100 | 74 | 98 | 92 | 85 | 70 | 96 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 165 | 182 | 236 | 133 | 131 | 105 | 119 | 117 | 125 | 159 | 159 |
| Inventory Days | 276 | 321 | 381 | 310 | 312 | 503 | 434 | 430 | 331 | 286 | 483 |
| Days Payable | 108 | 129 | 210 | 112 | 201 | 152 | 185 | 190 | 150 | 135 | 150 |
| Cash Conversion Cycle | 334 | 374 | 407 | 331 | 242 | 456 | 368 | 357 | 306 | 310 | 492 |
| Working Capital Days | 195 | 209 | 275 | 177 | 159 | 177 | 163 | 153 | 166 | 193 | 231 |
| ROCE % | — | 37% | — | 25% | 25% | 32% | 21% | 26% | 28% | 28% | 17% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Concord Biotech insights
68 extracted metrics + investor summaries across FY15–FY27.
Documents
Frequently Asked Questions about Concord Biotech
What does Concord Biotech Ltd do?
Where is Concord Biotech Ltd (CONCORDBIO) listed?
Which sector does Concord Biotech Ltd belong to?
What is the market capitalisation of Concord Biotech Ltd?
What is the PE ratio of Concord Biotech Ltd?
What is the 52-week high and low of Concord Biotech Ltd?
Does Concord Biotech Ltd pay dividends?
What is the Return on Equity (ROE) of Concord Biotech Ltd?
Company Information
Incorporated in 1984, Concord Biotech Limited is an India-based R&D-driven biopharma company and manufacturer of fermentation-based APIs across immunosuppressants and oncology.[1]
For AI agents and developers
Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/CONCORDBIO.md for Concord Biotech Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.
Append .md to any Tapetide URL for the
same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live,
structured queries instead of documents, use our MCP server.