Indegene Ltd.'s shares rose as much as 1.60% at Rs 607.95 per share on the NSE. Going ahead, Axis Securities expect Indegene's growth trajectory to remain robust, aided by client wallet-share expansion, deal conversion, new business wins and AI-led offerings, while operating leverage and normalisation of investment-related costs should provide scope for earnings growth to outpace revenue growth.
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Axis Securities Report
Indegene Ltd.'s shares rose as much as 1.60% at Rs 607.95 per share on the NSE. At 10.30 am, the stock was trading 1.02% higher at Rs 604.50.
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The brokerage firm Axis Securities has initiated coverage on Indegene with a Buy recommendation and a DCF-based target price of Rs 705/share, implying an upside of 18% from the reports current market price of Rs 705.
Indegene is a digital-first life-sciences company.
The brokerage highlights that, as the pharma companies increasingly outsource higher-value activities, deep domain expertise is becoming a key selection criterion. With over two decades of experience serving global biopharma companies, Indegene has built capabilities across clinical, medical, regulatory, pharmacovigilance and commercial functions.
This enables it to handle complex, highly regulated workflows that require both scientific knowledge and technology expertise. The combination of domain knowledge, proprietary technology and embedded workflows differentiates Indegene from traditional IT players and strengthens its positioning as a strategic partner to global life-sciences companies.
Aditionally Indegene's growth opportunity is increasingly shifting toward deepening relationships with its existing global biopharma clients beyond the top 20.
The brokerage believes that Indegene has entered FY27 with a stronger and more diversified growth pipeline, supported by continued expansion within existing accounts, increasing contribution from clients outside the top 20 and traction in GenAI-led solutions across both commercial and medical affairs.
Going ahead, Axis Securities expects Indegene's growth trajectory to remain robust, aided by client wallet-share expansion, deal conversion, new business wins and AI-led offerings, while operating leverage and normalisation of investment-related costs should provide scope for earnings growth to outpace revenue growth. Thus, it expects revenue/EBIT/PAT to grow at 25%/26%/26% CAGR over FY26-29E.
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