Indegene's Quality Grade Upgrade Reflects Strong Financial Performance and Stability
Indegene, a midcap player in the IT software industry, has recently undergone an evaluation adjustment that reflects a shift in its quality grade. This revision highlights the company's solid financial metrics, particularly its impressive sales growth of 19.50% and EBIT growth of 21.45% over the past five years. The company's ability to maintain a robust EBIT to interest ratio of 14.68 and a low debt to EBITDA ratio of 0.44 further underscores its financial stability.Indegene's net debt to equity ratio stands at 0.00, indicating a strong balance sheet, while its sales to capital employed ratio of 1.15 suggests efficient use of resources. The company also boasts a commendable tax ratio of 24.59% and a high return on capital employed (ROCE) of 44.32%. Additionally, the return on equity (ROE) averages 15.55%, reflecting effective management efficiency.
The recent adjustment in evaluation comes amid positive financial performance, with net sales reaching a record Rs 755.60 crore in the latest quarter. Institutional investors have shown increasing interest, raising their stake to 10.20%, which may contribute to the company's favorable market position.
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