Integrated Filing — IndAS

General information about company
Scrip Code	544172
NSE Symbol	INDGN
MSEI Symbol	NOTLISTED
ISIN	INE065X01017
Name of company	Indegene Limited
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-Apr-2024
Date of end of financial year	31-Mar-2025
Date of board meeting when results were approved	28-Apr-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	21-Apr-2025
Description of presentation currency	INR (in Actuals)
Reporting Type	Quarterly
Reporting Quarter	Fourth quarter
Nature of report standalone or consolidated	Consolidated
Whether results are audited or unaudited for the quarter ended	Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended	Audited
Segment Reporting	Multi segment
Description of single segment
Start date and time of board meeting	28-Apr-2025   17:30:00
End date and time of board meeting	28-Apr-2025   17:53:00
Whether cash flow statement is applicable on company	Yes
Type of cash flow statement	Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification	Declaration of unmodified opinion

Financial Results Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Unaudited	Audited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	7556000000	28393000000
	Other income	256000000	1072000000
	Total income	7812000000	29465000000
2	Expenses
(a)	Cost of materials consumed	0	0
(b)	Purchases of stock-in-trade	0	0
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	0	0
(d)	Employee benefit expense	4851000000	18152000000
(e)	Finance costs	31000000	220000000
(f)	Depreciation, depletion and amortisation expense	207000000	802000000
(f)	Other Expenses
1	Other Expenses	1230000000	4898000000
	Total other expenses	1230000000	4898000000
	Total expenses	6319000000	24072000000
3	Total profit before exceptional items and tax	1493000000	5393000000
4	Exceptional items	0	0
5	Total profit before tax	1493000000	5393000000
6	Tax expense
7	Current tax	438000000	1491000000
8	Deferred tax	-121000000	-165000000
9	Total tax expenses	317000000	1326000000
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
11	Net Profit Loss for the period from continuing operations	1176000000	4067000000
12	Profit (loss) from discontinued operations before tax	0	0
13	Tax expense of discontinued operations	0	0
14	Net profit (loss) from discontinued operation after tax	0	0
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
16	Total profit (loss) for period	1176000000	4067000000
17	Other comprehensive income net of taxes	26000000	256000000
18	Total Comprehensive Income for the period	1202000000	4323000000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent
	Total profit or loss, attributable to non-controlling interests
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	1202000000	4323000000
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	0	0
21	Details of equity share capital
	Paid-up equity share capital	479000000	479000000
	Face value of equity share capital	2	2
27	Details of debt securities
22	Reserves excluding revaluation reserve		25667000000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	4.91	17.15
	Diluted earnings (loss) per share from continuing operations	4.88	17.02
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	4.91	17.15
	Diluted earnings (loss) per share from continuing and discontinued operations	4.88	17.02
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		Notes to the Statement of Consolidated Financial Results for the quarter and year ended 31 March 2025 nAll amounts in INR millions, except share data and where otherwise stated n1. The above Consolidated Financial Results of Indegene Limited formerly Indegene Private Limited the Company or the Parent or the Holding Company together with its affiliates collectively the Group, have been prepared in accordance with Indian Accounting Standards Ind AS 34 Interim Financial Reporting, recognition and measurement principles of Indian Accounting Standards Ind AS prescribed under Section 133 of the Companies Act, 2013, as amended, read with the relevant rules issued thereunder and in terms of Regulation 33 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015 the Regulations. Due to rounding off, the numbers presented throughout may not add up precisely to the totals. in the financial information denote amounts less than INR0.50 million. n2. The above Consolidated Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 28 April 2025. The figures for the quarter ended 31 March 2025 are the balancing figures between audited figures in respect of full financial year and published unaudited year to date figures upto the end of the third quarter of the current financial year, which were subject to limited review. n3. The Consolidated Financial Results for the quarter and year ended 31 March 2025, are available on the National Stock Exchange of India Limited URL www.nseindia.com, the BSE Limited website URL www.bseindia.com and on the Companys website URL www.indegene.cominvestorrelations. n4. During the year, the Company has completed Initial Public Offer IPO of 40,766,550 equity shares of face value of INR2 each at an issue price of INR452 per share Issue price of INR422, including a share premium of INR420 per share, for employee quota towards fresh issue, comprising fresh issue of 16,833,818 shares aggregating to INR7,600 and offer for sale of 23,932,732 shares by selling shareholders aggregating to INR10,818. The equity shares of the Company are listed in National Stock Exchange of India Limited NSE and BSE Limited BSE on 13 May 2024. The Company has received an amount of INR7,244 net of Companys share of IPO expenses of INR356, retained in the Public Offer Account to the extent unpaid from the proceeds of the fresh issue. Out of the Company s shares of IPO expenses INR319 has been adjusted to securities premium. nThe utilization of IPO proceeds of INR7,244 is summarized below nParticulars , Amount to be utilised as per offer document, Utilisation as on 31032025 , Unutilised as on 31032025, Amounts in INR Mn na. Repaymentprepayment of indebtedness of one of our Subsidiaries, ILSL Holdings, Inc. 3913 3950 37 nb. Funding the capital expenditure requirements of our Company and our Material Subsidiary, Indegene, Inc. 1029 185 844 nc. General corporate purposes and inorganic growth 2302 2088 214 nThe Company has repaid loan of USD 47.20 Million INR3950 outstanding in the books of ILSL Holdings Inc. material subsidiary, in line with Object 1 of the offer document. The amount utilised over and above the maximum amount specified as per the offer document is due to exchange rate fluctuation as on the date of offer document and as on the date of payment. nOut of the net proceeds which were unutilised as at 31 March 2025, INR980 are temporarily invested in fixed deposits, INR41 is held in the Company s monitoring account, while the balance amount is held in the public offer account towards the Company s share of expenses related to issue. n

Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Statement of Asset and Liabilities
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-Apr-2024
Date of end of reporting period		31-Mar-2025
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Consolidated
	Assets
1	Non-current assets
	Property, plant and equipment	1349000000
	Capital work-in-progress	36000000
	Investment property
	Goodwill	3565000000
	Other intangible assets	1862000000
	Intangible assets under development
	Biological assets other than bearer plants
	Investments accounted for using equity method
	Non-current financial assets
	Non-current investments	0
	Trade receivables, non-current
	Loans, non-current	0
	Other non-current financial assets	133000000
	Total non-current financial assets	133000000
	Deferred tax assets (net)	898000000
	Other non-current assets	116000000
	Total non-current assets	7959000000
2	Current assets
	Inventories	0
	Current financial asset
	Current investments	12897000000
	Trade receivables, current	7514000000
	Cash and cash equivalents	2410000000
	Bank balance other than cash and cash equivalents	1336000000
	Loans, current	0
	Other current financial assets	126000000
	Total current financial assets	24283000000
	Current tax assets (net)
	Other current assets	1017000000
	Total current assets	25300000000
3	Non-current assets classified as held for sale
4	Regulatory deferral account debit balances and related deferred tax Assets
	Total assets	33259000000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	479000000
	Other equity	25677000000
	Total equity attributable to owners of parent	26156000000
	Non controlling interest
	Total equity	26156000000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	0
	Trade payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises
	Total Trade payable
	Other non-current financial liabilities	873000000
	Total non-current financial liabilities	873000000
	Provisions, non-current	585000000
	Deferred tax liabilities (net)
	Deferred government grants, Non-current
	Other non-current liabilities
	Total non-current liabilities	1458000000
	Current liabilities
	Current financial liabilities
	Borrowings, current	0
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	17000000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	917000000
	Total Trade payable	934000000
	Other current financial liabilities	1443000000
	Total current financial liabilities	2377000000
	Other current liabilities	2510000000
	Provisions, current	677000000
	Current tax liabilities (Net)	81000000
	Deferred government grants, Current
	Total current liabilities	5645000000
3	Liabilities directly associated with assets in disposal group classified as held for sale
4	Regulatory deferral account credit balances and related deferred tax liability
	Total liabilities	7103000000
	Total equity and liabilites	33259000000
	Disclosure of notes on assets and liabilities	Textual Information(1)

Text Block

Textual Information(1)

5. During the year ended 31 March 2025, 521,330 options have been granted under Employee Restricted Stock Unit plan 2020 RSU 2020, 243,973 options have been granted under Employee Stock Option Plan 2020 ESOP 2020 and 39,571 options have been granted under Company Share Option Plan 2022 CSOP 2022 to the eligible employee of the Company. 527,331 options under RSU 2020 plan and 211,722 options under ESOP 2020 plan have been exercised during the year. n6. Exceptional items nOn 12 October 2022, the Group had obtained control of Cult Health LLC by acquiring 100% interest to enhance the Groups commercialization portfolio adding market development and brand strategy competencies along with patient engagement platforms. The acquisition was consummated for a consideration of INR5,347. The contingent consideration is based on the performance of Cult Health LLC during the fiscal year beginning 01 April 2023 and ending 31 March 2026 and range of contingent consideration payable is between Nil to INR3,040. Cult Health LLC is part of Omnichannel Activation segment. nThe Group carried out remeasurement of the change in fair value of contingent consideration towards earnout payout, which was measured at its fair value on acquisition and recognised a resultant gain of INR935. Change in fair value movement of contingent consideration has been recognized as an exceptional item during the previous year ended 31 March 2024. Further, the Group also carried out the assessment of recoverable value of the investments made in Cult Health LLC owing to reduction in revenues from certain customers and its impact on the future cash flows. The recoverable amount of this CGU estimated to be lower than carrying value, resulting into an impairment charge of INR911. The impairment charge had been recognized as an exceptional item during the previous year ended 31 March 2024. n7. The Group, during the year, basis the Managements assessment remeasurement of the fair value of the contingent consideration payable, has reversed contingent consideration pertaining to acquisition of Cult Health LLC and Trilogy Writing & Consulting GmbH Trilogy amounting to INR103 and INR55, respectively and has been accounted for the same as other income. Further, the Group had invested in TriloDocs GmbH at the time of acquisition of Trilogy via convertible loan of EUR 1.5 Mn. Based on assessment of recoverability of the loan given to TriloDocs GmbH aggregating to INR135, the Group has fully provided for the same during the year ended 31 March 2025 and accounted it as other expenses. n8. Acquisition of MJL Communications Group Ltd On 25 March 2025, the Group had obtained control of MJL Communications Group Ltd MJL by acquiring 100percent of its shares. MJL specializes in brand strategy, omnichannel campaigns, and patient engagement. It provides communication solutions for pharmaceutical and healthcare brands using their proprietary Illuminate strategy. MJL focuses on strategic insights, scientific storytelling, and content development to support healthcare communications. The acquisition was consummated for a consideration of INR398 which includes earnout payment of INR149. The contingent consideration is based on the performance of MJL during the fiscal year beginning 01 April 2025 and ending 31 March 2027 and range of contingent consideration payable is between Nil to INR172. The Group believes that the acquisition will enable the Group to leverage the above capabilities and expand across its customer accounts. The purchase price allocation for MJL is provisional and will be finalized within the measurement period, but in no event later than one year following the date of acquisition.

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-Jan-2025	01-Apr-2024
Date of end of reporting period		31-Mar-2025	31-Mar-2025
Whether accounts are audited or unaudited		Unaudited	Audited
Nature of report standalone or consolidated		Consolidated	Consolidated
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
1	Enterprise Medical Solutions	2107000000	8025000000
2	Enterprise Commercial Solutions	4255000000	15871000000
3	Omnichannel Activation	967000000	3477000000
4	Others*	227000000	1020000000
	Total Segment Revenue	7556000000	28393000000
	Less: Inter segment revenue
	Revenue from operations	7556000000	28393000000
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
1	Enterprise Medical Solutions	585000000	2081000000
2	Enterprise Commercial Solutions	915000000	3484000000
3	Omnichannel Activation	147000000	458000000
4	Others*	-100000000	-329000000
	Total Profit before tax	1547000000	5694000000
	i. Finance cost	31000000	31000000
	ii. Other Unallocable Expenditure net off Unallocable income	23000000	23000000
	Profit before tax	1493000000	5393000000
3	(Segment Asset - Segment Liabilities)
	Segment Asset
1	Enterprise Medical Solutions	0	0
2	Enterprise Commercial Solutions	0	0
3	Omnichannel Activation	0	0
4	Others*	0	0
	Total Segment Asset	0	0
	Un-allocable Assets	0	0
	Net Segment Asset	0	0
4	Segment Liabilities
	Segment Liabilities
1	Enterprise Medical Solutions	0	0
2	Enterprise Commercial Solutions	0	0
3	Omnichannel Activation	0	0
4	Others*	0	0
	Total Segment Liabilities	0	0
	Un-allocable Liabilities	0	0
	Net Segment Liabilities	0	0
	Disclosure of notes on segments	Textual Information(2)

Text Block

Textual Information(2)

Notes to the Statement of Consolidated Financial Results for the year ended 31 March 2025 Contd. n9. Operating Segment nThe Segment results of the Group has been prepared in accordance with IndAS 108 on Operating Segments. The Group has identified business segments industry practice as reportable segments. The reportable business segments comprise: 1 Enterprise Medical Solutions, 2 Enterprise Commercial Solutions, 3 Omnichannel Activation. nOthers mainly comprises of consultancy and clinical business. nOperating segments are identified as components of an enterprise for which discrete financials information is available that is evaluated regularly by the chief operating decision maker. In deciding how to allocate resources and assessing performance, the Groups chief operating decision maker is the Chief Executive Officer and Executive Director. nAssets and liabilities used in the Groups business are not identified to any of the operating segments, as these are used interchangeably between segments. Management believes that it is currently not practicable to provide segment disclosures relating to total assets and liabilities since a meaningful segregation of the available data is onerous. nOther unallocable expenditure net of unallocable income for the quarter ended 31 March 2025 includes depreciation and amortisation expense INR 207 and unallocable expenses INR 72 net of other income INR 256. nOther unallocable expenditure net of unallocable income for the year ended 31 March 2025 includes depreciation and amortisation expense INR 802 and unallocable expenses INR 351net of other income INR 1072. n10. The Board of Directors, in its meeting on 28 April 2025, have proposed a final dividend of INR2 per equity shares for the financial year ended 31 March 2025. The proposal is subject to the approval of shareholders at the ensuing Annual General Meeting and if approved would result in a cash outflow of approximately INR480. n nStatement of Cash Flow includes following aggregations: n1.Cash flows from Operating Activities: nOther adjustments to reconcile profit loss includes na. Gain due to change in contingent consideration negative INR 162 nb. Loss allowance of loan INR 135 nc. Net gain on disposal fair valuation of investments negative INR 292 nd. Expected credit loss on trade receivables and advances INR 18 n n2.Cash flows from Investing Activities nOther Inflow Outflows of cash includes na. Purchase of investments accounted using FVTPL negativeINR 52572 nb. Proceeds from redemption of investments INR 47932 nc. Investments in fixed deposits negative INR 18168 nd. Redemption or maturity of fixed deposit INR 16908 n n3. Cash flows from Financing Activities nProceeds from issuing shares is net of share issue expenses

Other Comprehensive Income
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Unaudited	Audited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Remeasurement of defined benefit obligation	-39000000	-21000000
	Total Amount of items that will not be reclassified to profit and loss	-39000000	-21000000
2	Income tax relating to items that will not be reclassified to profit or loss	-10000000	-5000000
3	Amount of items that will be reclassified to profit and loss
1	Exchange differences on translating the financial statements of foreign operations	55000000	272000000
	Total Amount of items that will be reclassified to profit and loss	55000000	272000000
4	Income tax relating to items that will be reclassified to profit or loss	0	0
5	Total Other comprehensive income	26000000	256000000

Cash flow statement, indirect
Particulars				Year ended (dd-mm-yyyy)
A	Date of start of reporting period			2024-04-01
B	Date of end of reporting period			2025-03-31
C	Whether results are audited or unaudited			Unaudited
D	Nature of report standalone or consolidated			Consolidated
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			5393000000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			194000000
	Adjustments for decrease (increase) in inventories			0
	Adjustments for decrease (increase) in trade receivables, current			-820000000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			343000000
	Adjustments for decrease (increase) in other non-current assets			0
	Adjustments for other financial assets, non-current			0
	Adjustments for other financial assets, current			0
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			0
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			611000000
	Adjustments for increase (decrease) in other non-current liabilities			0
	Adjustments for depreciation and amortisation expense			802000000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			107000000
	Adjustments for provisions, non-current			0
	Adjustments for other financial liabilities, current			0
	Adjustments for other financial liabilities, non-current			0
	Adjustments for unrealised foreign exchange losses gains			17000000
	Adjustments for dividend income			0
	Adjustments for interest income			501000000
	Adjustments for share-based payments			174000000
	Adjustments for fair value losses (gains)			0
	Adjustments for undistributed profits of associates			0
	Other adjustments for which cash effects are investing or financing cash flow			0
	Other adjustments to reconcile profit (loss)			-301000000
	Other adjustments for non-cash items			0
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			626000000
	Net cash flows from (used in) operations			6019000000
	Dividends received			0
	Interest paid			0
	Interest received			0
	Income taxes paid (refund)			1600000000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			4419000000
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses			0
	Cash flows used in obtaining control of subsidiaries or other businesses			0
	Other cash receipts from sales of equity or debt instruments of other entities			0
	Other cash payments to acquire equity or debt instruments of other entities			1113000000
	Other cash receipts from sales of interests in joint ventures			0
	Other cash payments to acquire interests in joint ventures			0
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships			0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships			0
	Proceeds from sales of property, plant and equipment			0
	Purchase of property, plant and equipment			300000000
	Proceeds from sales of investment property			0
	Purchase of investment property			0
	Proceeds from sales of intangible assets			0
	Purchase of intangible assets			0
	Proceeds from sales of intangible assets under development			0
	Purchase of intangible assets under development			0
	Proceeds from sales of goodwill			0
	Purchase of goodwill			0
	Proceeds from biological assets other than bearer plants			0
	Purchase of biological assets other than bearer plants			0
	Proceeds from government grants			0
	Proceeds from sales of other long-term assets			0
	Purchase of other long-term assets			0
	Cash advances and loans made to other parties			0
	Cash receipts from repayment of advances and loans made to other parties			0
	Cash payments for future contracts, forward contracts, option contracts and swap contracts			0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts			0
	Dividends received			0
	Interest received			486000000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-5900000000
	Net cash flows from (used in) investing activities	-6827000000
	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries			0
	Payments from changes in ownership interests in subsidiaries			0
	Proceeds from issuing shares			7327000000
	Proceeds from issuing other equity instruments			0
	Payments to acquire or redeem entity's shares			0
	Payments of other equity instruments			0
	Proceeds from exercise of stock options			0
	Proceeds from issuing debentures notes bonds etc			0
	Proceeds from borrowings			0
	Repayments of borrowings			4031000000
	Payments of lease liabilities			0
	Dividends paid			0
	Interest paid			103000000
	Income taxes paid (refund)			318000000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) financing activities			2875000000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			467000000
	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents			57000000
	Net increase (decrease) in cash and cash equivalents			524000000
	Cash and cash equivalents cash flow statement at beginning of period			1886000000
	Cash and cash equivalents cash flow statement at end of period			2410000000