Indian (NIFTY) Biotech Industry Analysis

Industry Valuation and Performance

Has the Indian Biotech Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sun, 10 May 2026	₹663.5b	₹180.6b	₹6.6b	48.6x	100.1x	3.7x
Tue, 07 Apr 2026	₹614.5b	₹180.6b	₹6.7b	58.9x	92.1x	3.4x
Thu, 05 Mar 2026	₹649.8b	₹180.6b	₹6.7b	52.7x	97.4x	3.6x
Sat, 31 Jan 2026	₹634.4b	₹177.0b	₹5.5b	81.3x	114.9x	3.6x
Mon, 29 Dec 2025	₹571.8b	₹177.0b	₹5.5b	89x	103.6x	3.2x
Wed, 26 Nov 2025	₹566.5b	₹177.0b	₹5.5b	94.1x	102.7x	3.2x
Fri, 24 Oct 2025	₹532.2b	₹169.8b	₹4.7b	57.1x	114x	3.1x
Sun, 21 Sep 2025	₹542.5b	₹169.4b	₹4.6b	60.4x	117.1x	3.2x
Tue, 19 Aug 2025	₹533.6b	₹169.4b	₹4.6b	63.6x	115.2x	3.2x
Thu, 17 Jul 2025	₹575.5b	₹163.7b	₹10.6b	54.8x	54.2x	3.5x
Sat, 14 Jun 2025	₹475.5b	₹163.8b	₹10.6b	49.8x	44.8x	2.9x
Mon, 12 May 2025	₹445.1b	₹175.9b	₹10.6b	51x	42x	2.5x
Wed, 09 Apr 2025	₹434.1b	₹158.8b	₹8.5b	48x	50.8x	2.7x
Fri, 07 Mar 2025	₹439.1b	₹158.9b	₹8.4b	49.6x	52.6x	2.8x
Sun, 02 Feb 2025	₹660.2b	₹169.2b	₹6.7b	53.9x	98.8x	3.9x
Tue, 31 Dec 2024	₹494.7b	₹159.6b	₹14.5b	42.1x	34x	3.1x
Thu, 28 Nov 2024	₹486.0b	₹159.6b	₹14.5b	40x	33.4x	3x
Sat, 26 Oct 2024	₹417.9b	₹157.7b	₹15.7b	47.6x	26.6x	2.7x
Mon, 23 Sep 2024	₹487.1b	₹157.7b	₹15.7b	35.2x	31x	3.1x
Wed, 21 Aug 2024	₹456.2b	₹157.7b	₹15.7b	31.7x	29x	2.9x
Fri, 19 Jul 2024	₹450.2b	₹157.4b	₹10.4b	49.1x	43.5x	2.9x
Sun, 16 Jun 2024	₹431.4b	₹157.4b	₹10.4b	45.4x	41.6x	2.7x
Tue, 14 May 2024	₹390.2b	₹155.5b	₹12.0b	45.2x	32.5x	2.5x
Thu, 11 Apr 2024	₹362.5b	₹155.4b	₹12.0b	37.4x	30.2x	2.3x
Sat, 09 Mar 2024	₹365.3b	₹155.4b	₹12.0b	37.3x	30.4x	2.4x
Mon, 05 Feb 2024	₹359.3b	₹144.9b	₹5.2b	66.8x	69x	2.5x
Wed, 03 Jan 2024	₹349.2b	₹145.0b	₹5.3b	56.2x	66.5x	2.4x
Fri, 01 Dec 2023	₹314.1b	₹145.0b	₹5.3b	53.2x	59.8x	2.2x
Sun, 29 Oct 2023	₹296.5b	₹133.7b	₹4.8b	35.5x	62.4x	2.2x
Tue, 26 Sep 2023	₹345.5b	₹133.8b	₹4.8b	29.5x	72.3x	2.6x
Thu, 24 Aug 2023	₹440.1b	₹142.3b	₹7.2b	34.8x	61.3x	3.1x
Sat, 22 Jul 2023	₹343.6b	₹120.4b	₹4.5b	43x	76.2x	2.9x
Mon, 19 Jun 2023	₹319.9b	₹120.4b	₹4.5b	40.6x	70.9x	2.7x
Wed, 17 May 2023	₹325.2b	₹106.7b	₹16.2b	27.9x	20x	3x

Current Industry PE

Investors are optimistic on the Indian Biotechs industry, and appear confident in long term growth rates.

The industry is trading at a PE ratio of 100x which is higher than its 3-year average PE of 62.8x.

The 3-year average PS ratio of 2.9x is lower than the industry's current PS ratio of 3.7x.

Past Earnings Growth

The earnings for companies in the Biotechs industry have declined 26% per year over the last three years.
Meanwhile revenues for these companies have grown 19% per year.
This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Indian Healthcare industry?


IN Market	2.14%
Healthcare	4.36%
Biotech	5.77%
Biotech	5.77%

Industry PEThere are no additional sub-industries under this industry.

Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
BIOCON Biocon	₹380.40	5.8% +₹33.6b	15.3%	PE101.9x
PANACEABIO Panacea Biotec	₹388.75	7.7% +₹1.7b	-20.5%	PS3.9x
514336 CCME Global	₹123.05	9.9% +₹502.3m	539.2%	PB66.7x
532039 Zenotech Laboratories	₹47.05	7.9% +₹209.9m	-12.2%	PS7.3x
524669 Hester Biosciences	₹1.65k	0.7% +₹96.6m	0.1%	PE34.3x

New major risk - Shareholder dilution

The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 248% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (248% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Market cap is less than US$100m (₹4.57b market cap, or US$48.2m).

Indian (NIFTY) Biotech Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Biocon Limited Recommends Final Dividend for the Financial Year Ended March 31, 2026, Payable on or Before August 31, 2026

New major risk - Revenue and earnings growth

Now 21% overvalued

New major risk - Shareholder dilution

Ticop Life Private Limited entered into an agreement to acquire an additional 43.81% stake in Texas Laboratories from Hester Biosciences Limited (BSE:524669) for INR 92 million.

Third quarter 2026 earnings released: ₹0.05 loss per share (vs ₹0.012 loss in 3Q 2025)

Third quarter 2026 earnings released: EPS: ₹0.65 (vs ₹0.74 in 3Q 2025)

Investor sentiment improves as stock rises 21%

New minor risk - Share price stability