Key Metrics of Concord Biotech Limited
About Concord Biotech Limited
Sectors
Company details
- Registered office
- 1482-86 Trasad Road Dholka Ahmedabad, Ahmedabad, In-gj, 387810
- Listed
- NSE: CONCORDBIO · ₹1,227.90
Operational Areas of Concord Biotech Limited
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 23 Sep 2026 | ICRA | Reaffirmed | AA- | A1+ | Stable | ₹125 Cr | View |
Credit strengths (ICRA, Sep 2026)
+ Experienced management and established track record
The company’s promoters and management have significant experience of more than two decades in the pharmaceutical industry and are well-established in the fermentation and semi- synthetic biopharmaceutical API segment.
+ Key player in a niche product segment
The company’s product portfolio includes complex molecules in the immunosuppressants therapeutic segment, which face limited competition and have healthy margins.
+ Strong financial profile
The company’s revenue grew at a compound annual growth rate (CAGR) of 12% during FY2021- FY2026, supported by healthy demand for its established products, new product launches and the scale-up of manufacturing capacities.
Credit challenges
− Relatively moderate scale of operations
The company’s scale of operations remains relatively moderate in the pharmaceutical industry, with operating income of Rs. 1,083.6 crore in FY2026.
− High therapeutic segment concentration risk
CBL’s revenue profile is exposed to high therapeutic concentration risk, with the immunosuppressants segment under API accounting for over 74% of its total API revenues, and the API revenues accounting for around 76% of the company’s overall revenues.
− High working capital intensity
The company generally provides a credit period of 115-120 days to its key customers and maintains a high inventory of various cultures (raw materials) to produce different APIs.
− Risks associated with successful scale up of the injectables facility
The company remains exposed to risks associated with the successful scale-up of its injectable manufacturing facility, which was commercialised in March 2025.
Could lead to an upgrade
A significant growth in earnings and diversification of revenues, along with improvement in working capital cycle, supporting free cash flows, may trigger a positive rating action. Successful scale-up of new capacities in a profitable manner will also be a positive rating trigger. www.icra.in Sensitivity Label : Public Page |3
Could lead to a downgrade
Pressure on the ratings could arise if there is any significant decline in revenue or earnings, impacting its debt metrics or
Agency-reported financials (ICRA, 23 Sep 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income (OI) | ₹1,221 Cr | ₹1,084 Cr |
| PAT | ₹373 Cr | ₹256 Cr |
| OPBDIT/OI | 43.2% | 36.6% |
| PAT/OI | 30.6% | 23.7% |
| Total outside liabilities/Tangible net worth (times) | 0.10× | 0.10× |
| Total debt/OPBDIT (times) | 0.00× | 0.00× |
| Interest coverage (times) | 506.40× | 481.80× |
| Revenue growth (YoY) | — | −11.2% |
| EBITDA (margin × income) | ₹527 Cr | ₹397 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹0.00 Cr | ₹0.00 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹1.04 Cr | ₹0.82 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term – Fund-based working capital facilities Short-term – Non-fund based | Non-fund based limits | ₹65.0 Cr | ₹65.0 Cr | 0.0% | AA- (Stable) | Reaffirmed | ICRA |
| limits | Other | ₹35.0 Cr | ₹35.0 Cr | 0.0% | A1+ | Reaffirmed | ICRA |
| Long-term – Unallocated limits | Working capital & bank lines | ₹25.0 Cr | ₹25.0 Cr | 0.0% | AA- (Stable) | Reaffirmed | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 82% |
| Information on file | 78% · missing: Capex / investment plans, Auditor details |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 78% chance the next rating action is stable or better
- Current rating AA- (investment grade)
- Interest coverage 481.8×
- ₹25 cr of rated limits not yet tied to a lender
Rated limits by facility
Timeline
From the report
Liquidity position: Strong The company’s liquidity position is Strong, with cash and investments of around Rs. 416 crore as on March 31, 2026 and a cushion of Rs. 65 crore in working capital limits as of June 2026.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Concord Biotech Limited
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
| Part of Biocon. | biocon.com | 1978 | Bangalore, India | |
| Formulations & Contract Manufacturing · Pharmaceuticals & Healthcare | lauruslabs.com | 2005 | Visakhapatnam, India | |
 Biological E. Limited |
Biotechnology & Vaccines · Pharmaceuticals & Healthcare | Biologicale.com | 1953 | Hyderabad, India |
| Rossari Biotech Limited | Biotechnology & Vaccines · Pharmaceuticals & Healthcare | — | — | Mumbai, Maharashtra, India |
 Anthem Biosciences (India) |
Biotechnology & Vaccines · Pharmaceuticals & Healthcare | anthembio.com | — | India |
| Biotechnology & Vaccines · Pharmaceuticals & Healthcare | bharatserums.com | 1971 | Mumbai, Maharashtra, India | |
| Gufic Biosciences Limited | Biotechnology & Vaccines · Pharmaceuticals & Healthcare | — | — | Mumbai, Maharashtra, India |
| Windlas Biotech Limited | · Business Services | — | — | Dehradun, Uttarakhand, India |
| Kbk Biotech Private Limited | Biotechnology & Vaccines · Pharmaceuticals & Healthcare | — | — | Peddapuram Mandal, Andhra Pradesh, India |
| Ajooni Biotech Limited | · Community, personal and Social Services | — | — | Mohali, Punjab, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.