Indegene Limited

INDGN/SE/2025-26/09

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April 28, 2025

BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001, India. Scrip Code: 544172	National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051, India. Trading symbol: INDGN

Dear Sir / Madam,

Sub: Analyst presentation and fact sheet - Financial results for the quarter and financial year ended March 31, 2025

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Analyst presentation and fact sheet with respect to financial results for the quarter and financial year ended March 31, 2025 are hereby enclosed.

The same is also being made available on the Company’s website https://www.indegene.com/

This is for your information and records.

Thanking you,

Yours Sincerely,

For Indegene Limited

Srishti Digitally signed by Srishti Ramesh Ramesh Kaushik Date: 2025.04.28 Kaushik 19:20:32 +05'30' Srishti Ramesh Kaushik Company Secretary and Compliance Officer

Encl: As above

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Third Floor, Aspen G-4 Block, Manyata Embassy Business Park (SEZ), Outer Ring Road, Nagawara, Bengaluru- 560 045, Karnataka, India

Phone: +91 80 4674 4567, +91 80 4644 7777 www.indegene.com

CIN: U73100KA1998PLC102040

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TM Presentation

April 2025

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Disclaimer
This presentation may include opinions and assumptions about
future performance which could be considered as forward-looking
statements. Forward-looking statements intrinsically cover several
risks and uncertainties, which may lead to a material difference
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We operate at the intersection of healthcare and technology

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Healthcare Tech-Led
Expertise Delivery and
Healthcare market Digital
understanding
Capabilities Digital-first approach
In-depth domain
Gen AI based tools and platform
knowledge
Navigating regulatory landscape Drive transformation
Medical content know-how Advanced analytics capabilities
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We are a Digital First Commercialization Partner

We Provide Capabilities and Expertise Across the Commercialization Value Chain

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Regulatory and R&D / Clinical
Marketing and Sales Pharmacovigilance
Medical Affairs and Others
Brand Strategy and Medical content Pharmacovigilance
Digital content Patient recruitment
Planning case processing
Medical communication Aggregate report
Campaigns Digital Rep review writing Clinical data
Equivalence management
Information Literature
Pricing and market Omnichannel Management monitoring Consultancy services
access Marketing Social media across value chain
Labeling
monitoring
Go-to-Market
Data and analytics
Strategy
Regulatory submissions Risk management
Patient services
Health economics
Enterprise
Omnichannel
56% Commercial 12% Activation [1] 28% Enterprise Medical Solutions [1] 4% Others [1]
Solutions [1]
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Technology, Data, Analytics and Gen AI

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(1) Revenue contribution by service offering for FY25

Our large addressable market is underpinned by growing outsourcing and rapid digital adoption

Large Market Opportunity

Outsourcing and Tech Expanding our TAM

Life Sciences Operations Spend Across Verticals ($B)

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Verticals ($B)
~9-14%
CAGR (2022-2026) in Outsourcing
Operations Across Verticals
Marketing and
$55 B
Sales
Rising Digital and Tech
$135 B+
Adoption
Our Market
Regulatory and
Medical Affairs $24 B Opportunity +
Pharmacovigilance $21 B
Growth in Outsourcing
Operations Spend
Drug Discovery
$36 B
and Clinical Trial +
Mfg, Supply Chain Growth in Life Sciences
$21 B
and Distribution Industry
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Lifesciences at Inflection Point

Patent Cliff

Large number of drugs are coming off-patent between FY2023-27

Margin Pressure

P&Ls are stretched with IRA pricing pressures

Drug Launches

Increased focus on efficiency and strategy by large biopharma for commercialization of existing pipeline

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(1) Indicates revenue contribution by customer industry for FY25. Remaining 1.1% from other industry.

Management Commentary on Q4FY25 results

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Manish Gupta

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Chairman and Chief Executive Officer
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Suhas Prabhu

Chief Financial Officer

“We sustained our profitable growth momentum in Q4FY25, clocking revenue growth of 4.9% QoQ, buoyed by recent deal wins from the last 2 quarters. We continued the momentum on deal wins this quarter also, which positions us well to drive continued revenue growth in FY26. We remain focused on expanding our client base even as we continue to drive growth from existing and newly added clients. On the technology front, we further strengthened our capabilities with the launch of Cortex - our flagship GenAI platform, purpose-built for the life sciences industry. We have also announced our maiden dividend at 100% for FY25.”

“Q4FY25 rounded out another year of stable and profitable growth. We delivered the highest-ever PAT margin of 15.6% for the quarter. The fullyear PAT crossed INR 400 crs, a growth of 20.8% YoY. We will continue to focus on strong execution, margin improvement and greater value creation for our clients in FY26 to accelerate our growth goals.”

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Q4 FY25: Financial Highlights

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INR Mn 12.3% 7.8%
Significant 7,556
growth at scale Revenue from Operations YoY revenue growth YoY revenue growth
in INR terms in USD terms
20.2% 15.6%
Strong EBITDA Margin PAT Margin
margin profile
0.6% QoQ 0.3% QoQ
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FY25: Financial Highlights

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INR Mn 9.6% 7.3%
Significant 28,393
growth at scale Revenue from Operations YoY revenue growth YoY revenue growth
in INR terms in USD terms
19.8% 14.3%
Strong EBITDA Margin PAT Margin
margin profile
0.9% YoY 1.3% YoY
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FY25: Business Highlights

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73 41 66%
Strong client
relationships Active Client Relationships Clients with $1 Million+ Revenue from Top 20 Global
Revenue Biopharma Companies
Global 23.8% 16.6%
4,961/4,268
Total Employees / Delivery Employees Delivery Headcount with Voluntary Attrition
Delivery
Healthcare Expertise (LTM)
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Q4 FY25: Business mix

Revenue from Service offering ($Mn)

Revenue by Customer Industry (%)

Revenue by Customer Geography (%)

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1.0%
81.1 85.2 87.4
2.6%
2.3%
4.8% 3.6% 3.0%
13.1% 12.4% 12.8% 2.6%
24.6%
71.9%
0.9%
55.6% 56.3%
58.3%
28.5% 27.9% 94.0%
23.8%
Q4FY24 Q3FY25 Q4FY25 Q4FY25 Q4FY25
Enterprise Medical Solutions Enterprise Commercial Solutions Biopharma Medical Devices North America Europe India RoW
Omnichannel Activation Others Emerging Biotech Others
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Q4 FY25: Segment Performance Update

Amount in INR Mn

Segment performance QoQ

Segment performance YoY

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4,225
4,003
2,052 2,107
889 967 260 227
ECS EMS OMNICHANNEL OTHERS
Q3 FY25 Q4 FY25
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15,287 15,871
8,025
6,008 1,410
3,191 3,477 1,020
ECS EMS OMNICHANNEL OTHERS
FY24 FY25
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Core segments (ECS & EMS) grew 5.1% sequentially
Omnichannel grew 8.6% sequentially
All 3 segments have grown YoY
EMS has grown the fastest by 33.6% YoY

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Growth Approach 1: Deeper Engagement with Large Pharma Customers

Amount in INR Mn

Revenue from Top 5 customers

Revenue from Top 20 customers

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11,984 21,657 22,082
11,345 11,347 19,321
9,176
14,320
FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25
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Growing Top 20 customers despite negative impacts in two of Top 5 accounts
Exploring large transformative opportunities that require change management; longer sales cycle, but deeper engagements
Focus on building pipeline and converting it into wins; but circumspect on pace of conversion given the macro environment challenges

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Growth Approach 2: Broader targeting leading to a wider, taller pyramid

Active clients[(1)]

Active clients[ (1)] added in FY25

Incremental clients successfully grown to $1mn+ category in FY25

Growing active client base[(1) ]

Successful track record of growing accounts

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73
62 63
46
FY22 FY23 FY24 FY25
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(1) Active clients from whom we have earned $0.25 million or more in revenues for the last twelve months

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41
35
34
2
28
8
3
4
4 6
3
2
31
26 26
23
FY22 FY23 FY24 FY25
$1-10 Mn $10-25 Mn $25+ Mn
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Financial Highlights

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Q4 FY25 Consolidated Financials

Amount in INR Mn

Particulars	Q4 FY25	Q3 FY25	Q4 FY24	QoQ %	YoY%	FY25	FY24	YoY%
Revenue from Operations	7,556	7,204	6,730	4.9%	12.3%	28,393	25,896	9.6%
Employee Benefit Expenses	4,851	4,438	4,284	9.3%	13.2%	18,152	16,516	9.9%
Other Expenses	1,230	1,448	1,059	-15.1%	16.1%	4,898	4,326	13.2%
Other Income	51	183	87	-72.1%	-41.4%	279	302	-7.6%
EBITDA	1,526	1,501	1,474	1.7%	3.5%	5,622	5,356	5.0%
% age	20.2%	20.8%	21.9%	-0.6 pts	-1.7 pts	19.8%	20.7%	-0.9 pts
Interest Income	205	194	145	5.7%	41.2%	793	461	71.9%
Finance cost	31	32	123	-3.1%	-74.7%	220	494	-55.5%
Depreciation & Amortization	207	200	185 3.5%		11.9% 802 761 5.4%
Exceptional item	0	0	24 0.0%		-100.0% 0 24 -100.0%
Profit before taxes	1,493	1,463	1,336 2.1%		11.8% 5,393 4,586 17.6%
Taxes	317	366	387 -13.4%		-18.1% 1,326 1,219 8.8%
Profit after taxes	1,176	1,097	948 7.2%		24.0% 4,067 3,367 20.8%
% age	15.6%	15.2%	14.1% 0.3 pts		1.5 pts 14.3% 13.0% 1.3 pts

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Healthy margin profile and robust balance sheet

EBITDA and EBITDA Margin INR Mn and %

PAT and PAT Margin INR Mn and %

Cash and Cash Equivalent[(1)] INR Mn

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15.6%
21.9% 20.8% 20.2% 15.2%
14.1%
1,176 16,643
1,474 1,501 1,526 1,097 15,079
948
9,876
Q4FY24 Q3FY25 Q4FY25 Q4FY24 Q3FY25 Q4FY25 Q4FY24 Q3FY25 Q4FY25
Maximize Profitability through
Scalable Operating Model Net Positive Cash Business
Strategic Resource Utilization
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(1) Includes cash and cash equivalents, current investments and bank balances

Investor Day - 24[th] March

Hosted 75+ top analysts from buy-side and sell-side, including renowned firms like JP Morgan, Citi, Kotak, Premji Invest, among others
Showcased our business and technology portfolio via immersive demos, including the launch of Cortex , our GenAI platform contextualized for the life sciences industry
Helped deepen understanding of our AI-first approach, GenAI strategy, and long-term growth roadmap

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Awards and Recognitions

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Thank You!

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www.indegene.com

Fact Sheet

Consolidated Financial Data - Fourth Quarter, Fiscal 2025

Operational & Financial Metrics

Key performance indicators (in INR Mn)

SI		Quarter ended	Quarter ended	Quarter ended	Growth	Growth	Year ended	Year ended
. No.	Particulars	Mar 31, 2025	Dec 31, 2024	Mar 31, 2024	YoY	QoQ	March 31, 2025	March 31, 2024
1.	Active clients(1)(No.)	73	75	63			73	63
2.	Revenue from operations	7,556	7,204	6,730	12.3%	4.9%	28,393	25,896
3.	Revenue from operations ($ Mn)	87.4	85.2	81.1	7.8%	2.5%	335.7	312.8
4.	YoY revenue growth(2)(%)	12.3%	7.0%	6.5%			9.6%	12.3%
5.	EBITDA(3)	1,526	1,501	1,474	3.5%	1.7%	5,622	5,356
6.	EBITDA margin (%)	20.2%	20.8%	21.9%			19.8%	20.7%
7.	Profit after tax	1,176	1,097	948	24.0%	7.2%	4,067	3,367
8.	Profit margin (%)	15.6%	15.2%	14.1%			14.3%	13.0%
9.	NRR(4)						101.6%	104.6%

Notes :

1. Active clients are clients from whom the Company have earned $0.25 million or more in revenues for the last twelve months preceding the relevant date.

2. Based on INR revenue. YoY growth for quarter Mar 31, 2024, based on unaudited financials.

3. Earnings before interest, taxes, depreciation and amortization (“EBITDA”) represents profit/(loss) for the period before income tax expense, finance costs, depreciation and amortization expense, interest income and any exceptional items.

4. Net Retention Rate (NRR) is based on USD revenues earned in current year from previous year’s active customers as a percentage of revenues earned in previous year from previous year’s active customers.

Revenue by service offering (in %)

	Quarter ended (contribution)	Quarter ended (contribution)	Quarter ended (contribution)	Growth	Growth
Particulars	Mar 31, 2025	Dec 31, 2024	Mar 31, 2024	YoY	QoQ
Enterprise Medical Solutions	27.9	28.5	23.8	31.5	2.6
Enterprise Commercial Solutions	56.3	55.6	58.3	8.4	6.3
Omnichannel Activation	12.8	12.4	13.1	9.9	8.6
Others	3.0	3.5	4.8	-29.5	-12.6
Total	100.0	100.0	100.0	12.3	4.9

Revenue by customer geography

(in %)

	Quarter ended(contribution)	Quarter ended(contribution)	Quarter ended(contribution)	Growth	Growth
Particulars	Mar 31, 2025	Dec 31, 2024	Mar 31, 2024	YoY	QoQ
North America	71.9	69.3	64.8	24.5	8.9
Europe	24.6	27.9	32.5	-14.7	-7.3
India	0.9	0.5	0.6	56.1	79.4
ROW	2.6	2.3	2.1	37.8	14.9
Total	100.0	100.0	100.0	12.3	4.9

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www.indegene.com

Fact Sheet

Consolidated Financial Data - Fourth Quarter, Fiscal 2025

Revenue by customer industry

(in %)

	Quarter ended(contribution)	Quarter ended(contribution)	Quarter ended(contribution)	Growth	Growth
Particulars	Mar 31, 2025	Dec 31, 2024	Mar 31, 2024	YoY	QoQ
Biopharma	94.0	93.7	93.8	12.5	5.2
Medical Devices	2.6	2.6	2.8	4.1	5.2
EmergingBiotech	2.3	2.5	2.7	-4.8	-3.8
Others	1.1	1.2	0.7	83.1	-4.4
Total	100.0	100.0	100.0	12.3	4.9

Client data

	Quarter ended	Quarter ended	Quarter ended
Particulars	Mar 31, 2025	Dec 31, 2024	Mar 31, 2024
Number of Million $ clients*
> 25 million dollars	2	2	3
10-25 million dollars	8	8	6
1-10 million dollars	31	28	26
Client concentration
Topclient	12.0%	13.6%	12.7%
Top5 clients	37.9%	40.3%	42.6%
Top10 clients	56.4%	56.3%	63.9%
Top20 clients	77.2%	76.9%	82.8%

* LTM (Last twelve months) revenues

Employee metrics

	Quarter ended	Quarter ended	Quarter ended
Particulars	Mar 31, 2025	Dec 31, 2024	Mar 31, 2024
Total employees	4,961	4,880	5,081
Delivery	4,268	4,198	4,422
Sales & Support	693	682	659
Offshore Mix	83.7%	83.6%	85.9%
Onsite Mix	16.3%	16.4%	14.1%
Expertise in healthcare-related educational backgrounds **	23.8%	23.3%	21.5%
Voluntary Attrition % (LTM)	16.6%	17.3%	15.7%
% of Women Employees	45.3%	45.0%	43.4%

** Based on Delivery employees

Liquidity metrics

	Quarter ended	Quarter ended	Quarter ended
Particulars	Mar 31, 2025	Dec 31, 2024	Mar 31, 2024
Net DSO (Days)(1)	72	80	73
Cash and Cash Equivalents(2)(INR Mn)	16,643	15,079	9,876

1. Billed + Unbilled - Unearned

2. Includes Cash and Cash Equivalents, Current Investments and Bank balances

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AI assistant

Indegene Limited — Investor Presentation 2025

59309_rns_2025-04-28_b995c6ac-04fb-4b16-a72b-72e049fac947.pdf