Indegene Limited announced robust financial results for the second quarter and half year ended September 30, 2026. The company reported a 39.5% year-on-year revenue growth to INR11,223 million. This performance was underpinned by consistent growth across its client base, including top-tier accounts, and a strong pipeline of new deal wins, particularly in the Enterprise Commercial segment.
Indegene Reports Strong Q2 FY27 Performance
Indegene Limited has announced its financial results for the second quarter and half year ended September 30, 2026, showcasing significant year-on-year growth. Revenue for the quarter stood at INR11,223 million, marking a substantial increase of 39.5% compared to the same period last year. Sequentially, revenue grew by 5.6%. This marks the fifth consecutive quarter of more than 5% quarter-on-quarter growth in INR terms.
Client Growth and Deal Wins
The company highlighted consistent growth across its client base. The top 5 accounts grew by 9.2% sequentially, while the top 20 accounts saw a growth of approximately 6.7% in INR terms. Indegene also secured 9 new deal wins during the quarter, with contract values of approximately $1 million, including three large deals: one in the $5 million-plus range and two in the $3 million to $5 million range. The Enterprise Commercial segment was particularly active, with significant wins including a mandate from an existing top 5 customer to migrate its content platform into new geographies outside the U.S. Another notable win is a global digital content management deal for a top 30 pharma company.
Tectonic Model Expansion
The expansion of Indegene’s GenAI-enabled Tectonic model continues, with a recent deal win for the Canada market for its largest customer. This marks the third market in three successive quarters for this model. Beyond Tectonic, the company is seeing success with its Agentic Agency of Record (AOR) offering, with a pilot transitioning into a full-scale engagement worth over $1 million.
BioPharm Acquisition Integration
One year after its acquisition, BioPharm is reportedly showing positive integration results. Indegene has realized approximately $1.5 million in annual cost synergies and is reinvesting these savings into growth initiatives, notably expanding BioPharm’s go-to-market team. The company anticipates that BioPharm’s capabilities will enhance existing and new enterprise omnichannel engagements.
Financial Highlights
EBITDA for the quarter was INR1,873 million, up 32% year-on-year, with a margin of 16.7%. Despite a wage hike impacting margins by about 150 basis points, improved productivity and favorable exchange rates largely offset this impact. Profit before tax stood at INR1,474 million, and profit after tax was INR1,123 million, a 10% increase from the previous year. The business mix remained steady, with Enterprise Commercial contributing about 71% of revenue and Enterprise Medical accounting for 25%. North America continued to be the highest contributor geographically, at 74%.
Outlook
Indegene remains confident in its growth trajectory, aiming for quarterly EBITDA margins of 19% plus by the fourth quarter. The company foresees margin growth in the second half of the fiscal year outpacing revenue growth. Its focus remains on driving organic growth and achieving historical EBITDA margin ranges by Q4 FY27, supported by strong deal wins and an expanding pipeline.
Source: BSE
