CONCORDBIO

Concord Biotech share price & financials

Price
₹1,342.8
Market cap
₹14.3k Cr
Sector
Healthcare
Calls analysed
8
Latest concall · Q1 FY27 · call held 03 Aug 2026

Concord Biotech Limited Q1 FY27

Revenue ₹257 cr +26%EBITDA ₹82 cr +34%EBITDA Margin 32% PAT ₹58 cr +31%

What went well

  • Revenue of INR257 crores, up 26.2% YoY, demonstrating a strong start to FY27.
  • Export revenues increased 46% YoY, driven by broad-based growth across geographies and rising inquiries.
  • API segment revenue grew 42% YoY to INR219 crores, reflecting strong performance in core business.

What to watch

  • Formulation revenue declined 23% YoY to INR39 crores, attributed to a shift in domestic sales mix where customers opted for API procurement.
  • Injectable facility currently operates at a low 5% capacity utilization, with EBITDA breakeven not yet achieved, requiring ramp-up for full contribution.
Read the full call →

What Concord Biotech Limited does

Concord Biotech is an R&D-driven biopharmaceutical company that manufactures Active Pharmaceutical Ingredients (APIs) through fermentation and semi-synthetic processes, alongside finished-dose formulations. It earns by selling a diversified portfolio of fermentation-based APIs -- spanning immunosuppressants, oncology, anti-bacterial and anti-fungal molecules -- to regulated and emerging markets worldwide, and by selling formulations (oral solid dosages and injectables) via a B2B model internationally and a B2B/B2C model in India. It also offers Contract Research & Manufacturing (CDMO) services in fermentation and semi-synthesis, and is building new platforms including US commercial subsidiary Stellon Biotech, cell & gene therapy investment Cellimune Biotech, and domestic-formulations subsidiary Concord Lifegen.

Segments

  • API
  • Formulations
Manufacturing facilities
4 plants in Gujarat, India: Unit I API (Dholka, since FY2000), Unit II Formulations (Valthera, since FY2016), Unit III API (Limbasi, since FY2021), Unit IV Injectables (Valthera, since FY2025)
Fermentation capacity
1,250 m3 installed across two API facilities
Fermentation-based API portfolio
30+ APIs
Drug Master Files (DMFs) filed globally
150+
Approved formulation products across markets
100+
ANDAs approved from own facilities
5
Founded 1984Headquarters Ahmedabad, Gujarat, India Company website

Guidance record · Q1 FY27

what the last two calls moved 22 tracked 3 delivered 4 missed 15 open
  • API Business Growth (FY25) delivered said Q2 FY25 Promised: Double-digit growth for FY25 Q1 FY27: This target for FY25 was successfully achieved. No further updates required.
  • Valthera Injectable Facility Break-even missed said Q1 FY26 Promised: Break-even by end of FY26 Q1 FY27: This target for FY26 was missed. The new target for breakeven is FY27.
  • Long-term Revenue CAGR at risk said Q2 FY25 Promised: 25% CAGR growth Q1 FY27: Q1 revenue grew 26.2% YoY, a strong start to the required catch-up. However, the target remains highly challenging after the significant degrowth in FY26.

All 22 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 27.9%, net profit up 41.9% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue310 244 430 204 247 −20%278 +14%326 −24%261 +28%
EBITDA137 98 190 61 91 −34%102 +4%122 −36%87 +43%
Net profit99 74 142 43 63 −36%68 −8%90 −37%61 +42%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −9.8% 1Y

₹1.0k₹1.2k₹1.4k₹1.6kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 14 Nov 2025Q3 FY26 — 12 Feb 2026Q4 FY26 — 1 Jun 2026Q1 FY27 — 3 Aug 2026

1Y: ₹1,670.2 on 10 Sept 2025 → ₹1,505.7. High ₹1,695.1 (19 Sept 2025), low ₹1,014.8 (27 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−0.4%
3 Aug
Q4 FY26
+1.0%
1 Jun
Q3 FY26
−1.3%
12 Feb
Q2 FY26
+2.8%
14 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 7.3% a year over 3 years, FY23 to FY26. Operating margin narrowed to 35.6%.

Year endingFY23FY24FY25FY26
Revenue₹854 Cr₹1.0k Cr₹1.2k Cr₹1.1k Cr
Operating profit₹339 Cr₹431 Cr₹506 Cr₹376 Cr
Operating margin39.7%42.4%42.2%35.6%
Interest₹4 Cr₹2 Cr₹0 Cr₹0 Cr
Depreciation₹55 Cr₹54 Cr₹54 Cr₹74 Cr
Net profit₹239 Cr₹304 Cr₹373 Cr₹264 Cr
Net margin28.0%29.9%31.1%25.0%
Cash from operations₹246 Cr₹265 Cr₹245 Cr₹264 Cr
Free cash flow₹101 Cr₹180 Cr₹134 Cr₹169 Cr
ROCE26.0%28.0%28.0%17.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹10 Cr₹10 Cr₹10 Cr₹10 Cr₹10 Cr₹10 Cr
Reserves₹990 Cr₹1.1k Cr₹1.3k Cr₹1.5k Cr₹1.8k Cr₹2.0k Cr
Borrowings₹89 Cr₹62 Cr₹32 Cr₹10 Cr₹2 Cr₹1 Cr
Other liabilities₹94 Cr₹144 Cr₹191 Cr₹164 Cr₹194 Cr₹216 Cr
Total liabilities₹1.2k Cr₹1.3k Cr₹1.5k Cr₹1.7k Cr₹2.0k Cr₹2.2k Cr
Fixed assets₹546 Cr₹573 Cr₹593 Cr₹575 Cr₹795 Cr₹786 Cr
Capital work in progress₹18 Cr₹74 Cr₹173 Cr₹211 Cr₹74 Cr₹79 Cr
Investments₹142 Cr₹74 Cr₹138 Cr₹244 Cr₹353 Cr₹488 Cr
Other assets₹477 Cr₹592 Cr₹611 Cr₹668 Cr₹802 Cr₹883 Cr
Total assets₹1.2k Cr₹1.3k Cr₹1.5k Cr₹1.7k Cr₹2.0k Cr₹2.2k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs trimmed −1.57 pp while the public added +1.10 pp. The shareholder count grew 2% to 83,325.

Promoters
44.1%
FIIs
7.5%
DIIs
9.4%
Public
39.0%

Since Jun 2025

  • FIIs −1.57 pp
  • Public +1.10 pp
  • DIIs +0.52 pp

How it drifted, 12 quarters

Over this window the public fell from 40.5% to 39.0% — −1.5 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 44.1%, FIIs 7.3%, DIIs 8.1%, Public 40.5%.Dec '23: Promoters 44.1%, FIIs 7.0%, DIIs 8.4%, Public 40.5%.Mar '24: Promoters 44.1%, FIIs 6.5%, DIIs 8.4%, Public 41.0%.Jun '24: Promoters 44.1%, FIIs 7.1%, DIIs 10.3%, Public 38.5%.Sep '24: Promoters 44.1%, FIIs 8.1%, DIIs 9.9%, Public 38.0%.Dec '24: Promoters 44.1%, FIIs 8.3%, DIIs 9.7%, Public 37.9%.Mar '25: Promoters 44.1%, FIIs 9.3%, DIIs 9.2%, Public 37.4%.Jun '25: Promoters 44.1%, FIIs 9.1%, DIIs 8.8%, Public 37.9%.Sep '25: Promoters 44.1%, FIIs 8.0%, DIIs 9.6%, Public 38.3%.Dec '25: Promoters 44.1%, FIIs 7.6%, DIIs 9.6%, Public 38.8%.Mar '26: Promoters 44.1%, FIIs 7.8%, DIIs 9.2%, Public 38.9%.Jun '26: Promoters 44.1%, FIIs 7.5%, DIIs 9.4%, Public 39.0%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Concord Biotech Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Sudhir Kumar Vaid 28.84%unchanged
Manju Vaid 9.55%unchanged
Nishtha Jhunjhunwala Discretionary Trust 8.03%unchanged
Aryavir Jhunjhunwala Discretionary Trust 8.03%unchanged
Aryaman Jhunjhunwala Discretionary Trust 8.03%unchanged
Sudman Consultants Llp 4.54%unchanged
Government Pension Fund Global Sovereign2.95%unchanged
Tata AIA Life Insurance Co Ltd Unit Linked Multi Cap Fund Insurer2.48%+0.57 pp
1575773 Ontario Inc 2.00%unchanged
DSP Small Cap Fund Mutual fund1.75%unchanged
Axis Max Life Insurance Limited A/C Reversionary Bonus Participating - Equity Insurer1.34%−0.18 pp
Ravindra Raichand Dharamshi 1.20%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in CONCORDBIO

Filings to Aug 2026

1 new, 5 added, 1 trimmed, 0 sold out — net +3.57 L shares (+38.8%).

Held by funds
₹185 Cr
8 schemes
Biggest holder
SBI Healthcare Opportunities Fund
₹139 Cr · 2.4% of that fund
SchemeHoldingLast month
SBI Healthcare Opportunities Fund SBI Mutual Fund₹139 Cr+2.40 L
SBI Balanced Hybrid Fund SBI Mutual Fund₹17 Crnew
Nippon India Pharma Fund Nippon India Mutual Fund₹16 Crheld
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹8 Cr+0.01 L
SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund₹4 Cr+0.00 L
Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund₹1 Cr+0.00 L
SBI Nifty 500 Index Fund SBI Mutual Fund₹0 Cr−0.00 L
SBI Nifty Small Cap 250 ETF SBI Mutual Fund₹0 Cr+0.00 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

5 added, 1 trimmed — net +3.57 L shares (+38.8%)

Funds are sitting on
-16%
vs est. average cost
Held by funds
₹185 Cr
8 schemes · ≈ 1.2% of the company
Biggest holder
SBI Healthcare Opportunities Fund
₹139 Cr · 2.4% of that fund
Longest holder
Nippon India Pharma Fund
3y 1m · since Aug '23

Shares held by these funds +22%

Aug '23 9.20 L shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹1506, this stock must grow earnings at 33% every year for 7 years. Our analysis caps realistic growth at ~3%. At that growth it is worth ₹323 — downside of 79%.

Growth the price implies
33.2% a year
for 7 years, fading to 4%
It has actually compounded at
3.4% a year
net profit, FY23–FY26
The gap
0.3 pp
-79% downside if it only repeats history
Price today ₹1,505.7 Value at the reference growth ₹323.48

Change the assumptions yourself →

All earnings calls (8)

Read the Q1 FY27 call →

Learn to analyse Concord Biotech Limited

Guides on how to read this kind of business and the numbers that matter.