INDGNIndegene Limited Forensic Risk Analysis

Healthcare Research Analytics & Technology
Risk ClassStable
Market Cap₹11,072 Cr
Primary DriverEarnings Quality
Flagium AI Risk Score
Stable structural profile. Financial profile appears resilient.
10 / 100
+5 QoQ
Early Deterioration
Sentinel Insight

Financial profile remains stable for now. Weakness is detected in profitability and earnings quality. No immediate concerns are visible. Risk is increasing at a faster pace.

25.0th %ile (Sector)Accel: +2 Qtrs
Updated2026-06-02
Market View
₹518.45▲1.71%
PeriodQ4 FY26

Score Waterfall
Absolute contribution points of each forensic pillar to the final risk score. Derived from: Sector Baseline + Active Penalties - Mitigation Buffers.

Earnings Quality
+15.0 pts
Stability Adjustment
-5.0 pts
Final Composite Risk10 / 100

Investment Risk Thesis

Historical Trend

Current risk score has risen from 0 → 10 over 12 quarters.

Expected Direction
⚠ Watch
Primary Deterioration Drivers
  • Margin Compression
  • Working Capital Expansion
  • Operating Leverage Stress
What to Watch Next Quarter
  • Working capital efficiency
  • Debt growth
  • Operating profit margins

Active Risk Objects (3)

CriticalHigh
Working Capital Expansion
💧 Liquidity & CoverageAnnualActive for 2 Years
More Detail
Impact Weight10/15
MomentumDecaying
Last SignalQ2 FY2025
Working capital expansion detected: Receivable days increased by 290.3%.

"Working capital pressure is receding. Cash previously locked in operations is being released."

Operating Leverage Stress
📊 Earnings QualityAnnualActive for 2 Years
More Detail
Impact Weight10/15
MomentumAccelerating
Last SignalQ4 FY2026
Expenses are consistently growing faster than revenues, creating operational pressure.

"The balance sheet is heavily over-leveraged. Interest payments are consuming most of the profit."

Margin Compression
📊 Earnings QualityAnnualActive for 1 Years
More Detail
Impact Weight15/15
MomentumAccelerating
Last SignalQ4 FY2026
Operating margin declined by 6.7 bps YoY for two consecutive quarters.

"Margins are in freefall. Operating costs are growing significantly faster than revenue."

Risk Trajectory
Historical 12-quarter risk trend (Q-11 to Q0) followed by a 2-quarter predictive funnel (Q+1, Q+2).
Loading Chart
Resilience Matrix
Diagnostic benchmarking comparing structural sensitivity and risk buffers against sector medians.
MetricValuevs SectorSignal
Volatility (σ)4.369.14✅ RESILIENT
Sensitivity (ε_s)11.00✅ RESILIENT
Escalation Prob.5%5%✅ NEUTRAL
Safety Buffer+56.0+53.0✅ RESILIENT
Forensic Benchmark Context: Healthcare Research Analytics & Technology (n=5 peers)

Correlation Analysis
Visualizing the relationship between stock price movement and structural risk objects.

Loading Chart
Share Price
Risk Score (0-100)
Market Performance
₹518.45(+1.71%)
1M Divergence+1.47%
1 Week+0.17%
1 Month+3.74%
6 Months-3.1%
1 Year-14.08%
2 Year-0.13%
3 Year-0.96%
Sector Average (1M)+2.27%
Sentinel Forensic Assessment
ALGORITHMIC RISK PROFILE • NON-ADVISORY

The structural architecture is currently robust. Capital resilience buffers in earnings quality remain well-maintained against forensic benchmarks. Systematic scans of operational margins and profitability metrics confirm the absence of material structural stress. Strategic vigilance is advised as structural decay is accelerating.

INDGN • MARKET STRUCTURE

Stage 1 — Accumulation

The company is in a foundational phase. Risk metrics are stabilizing as the company builds a base for potential future fundamental improvement.

Stage Transition Prob.3%
Trend QualityEarly Base
Phase Progression
Phase Progression Score37.5%
Readiness LabelLow (Early Base Consolidation)
Probability of Advancing3%
CoinTree Momentum
Composite Z-Score-0.1101σ
Weakening momentum trend
Universe Rank
A cross-sectional rank of this stock's composite momentum score compared to all other tracked equities in the universe. A rank of #1 of 1035 means it has the strongest overall price momentum in the market.
#1213 of 2716
Top 44.66% in momentum strength
Timeframe Sparklines
1W+0.2%
1M+3.7%
6M-3.1%
Weinstein Indicators
150 DMA₹501.26
200 DMA₹516.99
150 DMA Slope-0.9980%Declining
Relative Strength+2.39%Leading
Relative Turnover (RTR)0.8166
ParticipationNeutral

PEER COMPARISON

Ranked comparison against sector peers

Risk profile is broadly in line with the Sector Mean (13).
INDGNIndegene Limited
10 Risk
Sector %ile25th
Delta+5
Active Flags3
Accel+2
Earnings Quality

Stable

TAKETAKE
13 Risk
Sector %ile50th
Delta-7
Active Flags19
Accel+0
Earnings Quality

Stable

SUVENSUVEN
29 Risk
Sector %ile75th
Delta-5
Active Flags27
Accel+0
Balance Sheet Stress

Watch

SYNGENESyngene International Limited
35 Risk
Sector %ile100th
Delta0
Active Flags12
Accel+0
Earnings Quality

Watch

* Peer comparison is based on risk signals, not valuation or returns.

Risk Profiles

Solvency
10100th %ile
VS Sector Median (8.5)
Governance
10100th %ile
VS Sector Median (8.5)
Earnings Quality
00th %ile
VS Sector Median (8.5)
Balance Sheet Stress
10100th %ile
VS Sector Median (8.5)
Competitive Position
10100th %ile
VS Sector Median (8.5)
Growth Sustainability
10100th %ile
VS Sector Median (8.5)

Deterioration Timeline

2026

Margin Compression

2026

Operating Leverage Stress

2026

Operating Leverage Stress

2025

Working Capital Expansion

2024

Working Capital Expansion

Key Financials (INR Cr)

PeriodRevenueNet ProfitOCFDebt
FY20263,583401651-
FY20252,947407442-
FY20242,666337508403