{"id":171334,"date":"2025-09-22T09:56:29","date_gmt":"2025-09-22T13:56:29","guid":{"rendered":"https:\/\/44.250.171.167\/?p=171334"},"modified":"2025-09-22T10:02:00","modified_gmt":"2025-09-22T14:02:00","slug":"indegene-leading-digital-life-sciences-transformation","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/indegene-leading-digital-life-sciences-transformation\/","title":{"rendered":"Indegene: Leading Digital Life Sciences Transformation"},"content":{"rendered":"<h2>Company Overview:<\/h2>\n<p><a href=\"https:\/\/www.bseindia.com\/stock-share-price\/indegene-ltd\/indgn\/544172\/\" target=\"_blank\" rel=\"noopener\">Indegene Ltd<\/a>. positions itself as an indispensable enabler for digital-first transformation in the global life sciences arena. As a specialized partner to leading pharma and biotech clients, Indegene\u2019s suite of proprietary AI\/cloud-enabled solutions, next-generation analytics, deep clinical expertise, and end-to-end engagement platforms address critical needs in digital commercialization, medical operations, omnichannel patient\/provider outreach, and clinical development. With 25 years of experience and a blue-chip global client base, Indegene has created a robust business model that marries steady secular end-market expansion with scalable operating leverage. Despite transitory headwinds impacting FY25 growth, the company remains structurally primed for double-digit CAGR in both revenue and earnings through FY28.<\/p>\n<h2>Industry Overview and Macro Tailwinds:<\/h2>\n<h3>Life Sciences Operations: A Massive Growing Opportunity<\/h3>\n<p>Indegene\u2019s core addressable market is the life sciences operations spend, primarily in the biopharmaceutical segment, which comprised 70% of industry spending in 2022. The overall opportunity is pegged at $135bn today, expanding at a healthy 9-14% CAGR. Marketing and sales, the domain where Indegene commands deep expertise, constitute the largest slice (35%) of this operations pie, ahead of both drug discovery\/clinical trials (23%) and regulatory\/medical\/support services.<\/p>\n<p>This expanding market is underpinned by several secular factors:<\/p>\n<ul>\n<li>An ongoing \u201cpatent cliff\u201d will lead to an unprecedented wave of blockbuster drug expiries during 2025-37, compelling major pharma\/biotech players to replenish pipelines, accelerate clinical trials, and modernize commercialization strategies.<\/li>\n<li>The US and Europe, accounting for 90% of global spend, remain the sector\u2019s epicenter, emphasizing the need for digital transformation and cost efficiency.<\/li>\n<li>Continued regulatory complexity and pricing pressure encourage aggressive outsourcing of non-core activities, especially where technology, compliance, and personalization matter.<\/li>\n<li>The proliferation of clinical trials and digitalization is rapidly expanding the scope for specialized solution providers like Indegene.<\/li>\n<\/ul>\n<table>\n<thead>\n<tr>\n<td>Life Sciences OpEx Breakdown<\/td>\n<td>% of Total Spend<\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Marketing &amp; Sales<\/td>\n<td>35<\/td>\n<\/tr>\n<tr>\n<td>Drug discovery\/Clinical Ops<\/td>\n<td>23<\/td>\n<\/tr>\n<tr>\n<td>Medical\/Regulatory Affairs<\/td>\n<td>42<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The non-discretionary nature of this spend in the life sciences vertical ensures robust channel resilience and client willingness to adopt platformized, AI-enhanced solutions, Indegene\u2019s precise wheelhouse.<\/p>\n<h2>Demand Drivers and Sectoral Trends<\/h2>\n<h3>Key drivers sustaining Indegene\u2019s addressable market include:<\/h3>\n<ul>\n<li>Patent Expiry Surge: Top 15 pharma companies now have record active drug pipelines, increasing outsourcing for commercialization\/medical affairs.<\/li>\n<li>Customer Engagement Modernization: Pharma is pivoting away from expensive, manual field-force models to data-driven, omnichannel activation\u2014raising the relevance and stickiness of Indegene\u2019s \u201cdigital-rep\u201d and marketing analytics suite.<\/li>\n<li>Digitization of Trials: Clinical trial complexity and size are growing, while cost pressure accelerates process automation.<\/li>\n<li>Rising SGA and R&amp;D Correlation: Indegene\u2019s top-line is highly correlated (correlation &gt;0.85) with the aggregate R&amp;D and SGA spend of the world\u2019s top-20 pharmaceutical companies.<\/li>\n<\/ul>\n<h2>Business Model and Core Offerings:<\/h2>\n<h3>Portfolio, Segmentation and Value Chain Reach<\/h3>\n<p><strong>Indegene\u2019s business is engineered across three major verticals:<\/strong><\/p>\n<p><strong>Enterprise Commercial Solutions (ECS, 58.5% of Q1FY26 revenue)<\/strong><\/p>\n<p>Indegene&#8217;s flagship vertical ECS encompasses digital marketing, commercial analytics, AI-powered promotional campaign management, digital asset creation, doctor\/patient engagement optimization, and advanced omnichannel activation. The company partners with global pharma to drive:<\/p>\n<ul>\n<li>Personalized physician and patient communications across web, email, and social.<\/li>\n<li>Real-time sales and engagement analytics.<\/li>\n<li>Digital asset creation, regulatory-compliant content syndication, and automated customer relationship management.<\/li>\n<\/ul>\n<p><strong>Enterprise Medical Solutions (EMS, ~28% of FY25 revenue)<\/strong><\/p>\n<p>EMS focuses on regulatory and compliance-heavy operations. Key service domains include:<\/p>\n<ul>\n<li>Medical writing (clinical development, regulatory submissions, compliant labeling)<\/li>\n<li>Pharmacovigilance (safety monitoring and adverse event tracking)<\/li>\n<li>Real World Evidence (RWE) data analytics supporting market access and new product pricing<\/li>\n<li>Documentation and review functions involving global regulatory standards<br \/>\nRecent bolt-on acquisitions (Trilogy, DT Consulting) have further deepened Indegene\u2019s EMS skill stack.<\/li>\n<\/ul>\n<p><strong>Brand Activation &amp; Others (13.5% of FY25 revenue)<\/strong><\/p>\n<p>This covers omnichannel campaign management, creative support, consulting services, and new digital clinical operations solutions. Indegene\u2019s innovative offerings, including GenAI-enabled automation for medical content creation and digital trial management, drive higher revenue yields and build competitive moats.<\/p>\n<table>\n<thead>\n<tr>\n<td>Business Segment<\/td>\n<td>Revenue Share (FY25)<\/td>\n<td>Major Offerings<\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Enterprise Commercial (ECS)<\/td>\n<td>58.5%<\/td>\n<td>Digital marketing, omnichannel activation<\/td>\n<\/tr>\n<tr>\n<td>Enterprise Medical (EMS)<\/td>\n<td>28%<\/td>\n<td>Med writing, RWE, pharmacovigilance<\/td>\n<\/tr>\n<tr>\n<td>Brand Activation &amp; Other<\/td>\n<td>13.5%<\/td>\n<td>Clinical trial consulting, AI-ops, creative<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>Technology and AI-Led Differentiation:<\/h2>\n<p>Indegene\u2019s technology investments are both a growth engine and margin lever. The company&#8217;s platforms serve both as service enablers and revenue multipliers:<\/p>\n<h3>Cortex GenAI Platform<\/h3>\n<p>The Cortex platform contextualizes Indegene\u2019s two decades of domain experience with AI-powered automation for regulatory compliance, commercial workflow orchestration, and customer personalization at scale.<\/p>\n<h3>Content Super App &amp; Automation<\/h3>\n<p>AI-powered tools for fast, compliant, and localized creation of commercial content and omni-channel campaign assets have helped clients improve speed-to-market and achieve regulatory parity.<\/p>\n<h3>NEXT Platform and SME Workbench<\/h3>\n<p>NEXT covers automation in medical writing and regulatory documentation with deep GenAI integration, driving huge efficiency and accuracy gains (automated draft creation, MLR automation, intelligent workflow dispatch, etc.). SME Workbench supports client-side GenAI centers of excellence.<\/p>\n<h3>Operational Impact<\/h3>\n<p>Process improvements from these platforms have delivered up to 63% reduction in asset compliance cycle times, 50%+ increase in asset repurposing, and 30-50% improvements in knowledge work throughput for clients, enabling premium pricing for Indegene\u2019s services.<\/p>\n<h2>Client Franchise and Revenue Diversification:<\/h2>\n<h3>Blue-Chip Clientele and Expansion Strategies<\/h3>\n<p><strong>A bedrock of Indegene\u2019s business is its high-value, deeply entrenched client relationships:<\/strong><\/p>\n<ul>\n<li>Top-20 pharma companies account for 64% of revenues. Client list includes the world\u2019s largest and most innovative healthcare players, often engaging Indegene on a multi-country and multi-business vertical basis.<\/li>\n<li>Client expansion: Over the last five years, Indegene expanded its active client base from 40 to 70, with 40+ clients contributing more than $1 million apiece, and two representing $25 million+ accounts. The company\u2019s \u201cland-and-expand\u201d strategy mines wallet share by broader vertical integration at existing clients.<\/li>\n<li>Diminished concentration risk: The revenue share of the top 10 clients fell from 63.9% in Q4FY24 to 56.4% in Q4FY25. The company is also increasing its exposure to mid-tier pharma (USD 40-50bn revenue segment).<\/li>\n<\/ul>\n<table>\n<thead>\n<tr>\n<td><strong>Metric<\/strong><\/td>\n<td><strong>FY24<\/strong><\/td>\n<td><strong>FY25<\/strong><\/td>\n<td><strong>Note<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Top-10 client contribution (%)<\/td>\n<td>63.9<\/td>\n<td>56.4<\/td>\n<td>Declining, diversified<\/td>\n<\/tr>\n<tr>\n<td>Fortune 500 client share (%)<\/td>\n<td>70+<\/td>\n<td>72.1<\/td>\n<td>High stickiness<\/td>\n<\/tr>\n<tr>\n<td>Clients &gt;$1mn revenue<\/td>\n<td>38<\/td>\n<td>40<\/td>\n<td>Growing premium share<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>Retention and Premium Positioning<\/h3>\n<p><strong>Indegene\u2019s client retention and stickiness are industry-leading:<\/strong><\/p>\n<ul>\n<li>Client relationships often span more than a decade, supported by high service delivery and deep vertical knowledge.<\/li>\n<li>Revenue per employee (~\u20b92.1mn) is &gt;30% above the IT services average and nearly triple healthcare BPO peers, reflecting high-value, premium service footprint.<\/li>\n<li>Over 23% of employees in FY25 held advanced medical or healthcare degrees, supporting differentiated service delivery and deep client trust.<\/li>\n<\/ul>\n<h2>Financial Performance and Outlook:<\/h2>\n<h3>Revenue and Profitability Trends<\/h3>\n<p>The company posted robust financial results for FY25 and Q1FY26:<\/p>\n<table>\n<thead>\n<tr>\n<td><strong>Period<\/strong><\/td>\n<td><strong>Revenue (\u20b9 Cr)<\/strong><\/td>\n<td><strong>EBITDA (\u20b9 Cr)<\/strong><\/td>\n<td><strong>PAT (\u20b9 Cr)<\/strong><\/td>\n<td><strong>EPS (\u20b9)<\/strong><\/td>\n<td><strong>EBITDA Margin (%)<\/strong><\/td>\n<td><strong>PAT Margin (%)<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Q1 FY26<\/td>\n<td>782.9<\/td>\n<td>177.4<\/td>\n<td>116.4<\/td>\n<td>4.80<\/td>\n<td>22.7<\/td>\n<td>14.9<\/td>\n<\/tr>\n<tr>\n<td>Q4 FY25<\/td>\n<td>696.2<\/td>\n<td>155.3<\/td>\n<td>94.8<\/td>\n<td>4.20<\/td>\n<td>20.4<\/td>\n<td>13.6<\/td>\n<\/tr>\n<tr>\n<td>Q1 FY25<\/td>\n<td>699.0<\/td>\n<td>154.5<\/td>\n<td>87.7<\/td>\n<td>3.80<\/td>\n<td>22.1<\/td>\n<td>12.5<\/td>\n<\/tr>\n<tr>\n<td>FY24-25<\/td>\n<td>2,946.5<\/td>\n<td>614.2<\/td>\n<td>406.7<\/td>\n<td>17.1<\/td>\n<td>20.8<\/td>\n<td>13.8<\/td>\n<\/tr>\n<tr>\n<td>FY23-24<\/td>\n<td>2,666.0<\/td>\n<td>545.1<\/td>\n<td>336.7<\/td>\n<td>15.0<\/td>\n<td>20.5<\/td>\n<td>12.6<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Growth drivers included strong momentum in both ECS and EMS segments. Q1FY26 delivered 12% YoY revenue growth, with PAT up 32.7% and EPS at 4.80 vs. 3.80 the previous year. Operating leverage was evident with EBITDA margin at 22.7% and net margin (PAT) at 14.9% for the quarter.<\/p>\n<h3>Balance Sheet Strength<\/h3>\n<p>Indegene is virtually debt-free following its successful IPO in FY25. The IPO (raising over \u20b97,600 crore) has materially strengthened its liquidity profile and enabled complete debt repayment. As of FY25, Indegene maintains a robust cash surplus and strong free cash flow metrics. This positions the company well for continued investments in M&amp;A and digital platforms.<\/p>\n<h3>Dividend and Capital Allocation<\/h3>\n<p>Indegene declared a final dividend of \u20b92 per share for FY25, underlining its cash-generative business model.<\/p>\n<h2>Strategic Investments, Talent, and M&amp;A:<\/h2>\n<h3>Mergers and Acquisitions<\/h3>\n<p>Across its history, Indegene has executed 13 acquisitions, expanding its global footprint and strengthening vertical expertise. Recent deals include:<\/p>\n<ul>\n<li>Trilogy: Bolstering medical writing and regulatory science capabilities.<\/li>\n<li>Cult Health: Enhancing global creative and omnichannel delivery.<\/li>\n<li>DT Consulting: Adding strategic consulting muscle to clinical operations and EMS portfolios.<\/li>\n<\/ul>\n<p>These synergistic acquisitions are a key part of Indegene\u2019s strategy, giving it early-mover advantage in new digital solution areas and markets.<\/p>\n<h3>Talent and Capability Development<\/h3>\n<p>The company has an intense focus on continuous upskilling of its largely scientific and technical workforce. Sales and client mining capacity have also been ramped up to unlock further wallet share among both established and new clients.<\/p>\n<h2>ESG, Shareholding &amp; Governance:<\/h2>\n<h3>ESG Initiatives<\/h3>\n<p>Indegene&#8217;s ESG disclosure has improved to a score of 68\/100 in FY25, with high marks for governance (75.9) and social responsibility (68). The environmental score is low, reflecting its digital\/IP-intensive model with limited direct environmental impact but opportunities for future green innovation.<\/p>\n<p><strong>Shareholding Structure<\/strong><\/p>\n<table>\n<thead>\n<tr>\n<td><strong>Shareholder<\/strong><\/td>\n<td><strong>% Holding (2025)<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Nadathur Fareast<\/td>\n<td>21.95<\/td>\n<\/tr>\n<tr>\n<td>Founder\/CEO Manish Gupta<\/td>\n<td>8.94<\/td>\n<\/tr>\n<tr>\n<td>Rajesh Nair<\/td>\n<td>7.16<\/td>\n<\/tr>\n<tr>\n<td>Sanjay S Parikh<\/td>\n<td>5.00<\/td>\n<\/tr>\n<tr>\n<td>Capital Group (FII)<\/td>\n<td>3.23<\/td>\n<\/tr>\n<tr>\n<td>Institutions, PE, others<\/td>\n<td>Balance<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Strong founder, PE, and institutional presence supports governance, strategic continuity, and alignment with public investors.<\/p>\n<h2>Competitive Positioning and Peer Benchmarking:<\/h2>\n<p><strong>Peer Comparison Table<\/strong><\/p>\n<table>\n<thead>\n<tr>\n<td><strong>Metric<\/strong><\/td>\n<td><strong>Indegene<\/strong><\/td>\n<td><strong>Sagility<\/strong><\/td>\n<td><strong>IKS Health<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Revenue Growth (FY25)<\/td>\n<td>7.4%<\/td>\n<td>15.0%<\/td>\n<td>43.5%<\/td>\n<\/tr>\n<tr>\n<td>EBITDA Margin<\/td>\n<td>19%<\/td>\n<td>27%<\/td>\n<td>29%<\/td>\n<\/tr>\n<tr>\n<td>ROE<\/td>\n<td>20.1%<\/td>\n<td>6.5%<\/td>\n<td>33.0%<\/td>\n<\/tr>\n<tr>\n<td>Top-10 Client Concentration<\/td>\n<td>56%<\/td>\n<td>91%<\/td>\n<td>44%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Indegene maintains lower concentration risk, higher R&amp;D workforce, and superior stickiness than BPOs or generic IT services firms. Its ability to command premium pricing per employee and generate 1.3x more revenue per head than large IT peers underlines its deep niche focus.<\/p>\n<h2>Investment Risks:<\/h2>\n<ul>\n<li>Patent Cliff Decision Delays: Pharma client hesitation may temporarily slow commercialization outlay.<\/li>\n<li>Client-Specific Exposure: Partial reliance on wallet expansion within top-5 clients may be a single-point pressure.<\/li>\n<li>Macro\/Regulatory Headwinds: Reimbursement regime shifts, U.S.\/Europe regulatory delays, or protectionism could pose challenges.<\/li>\n<li>Valuation Sensitivity: At 26.8x forward P\/E, the stock is exposed to any deviation from structural growth assumptions.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/44.250.171.167\/symbol\/indgn\/\">Indegene<\/a> remains a leader in the fastest growing, most defensible corner of the pharma\/healthtech value chain. Near-term volatility around top-client program launches and sectoral policy change is secondary to the company&#8217;s core multi-year thesis: scalable premium service delivery to the world\u2019s largest, most innovative life-sciences entities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Company Overview: Indegene Ltd. positions itself as an indispensable enabler for digital-first transformation in the global life sciences arena. As a specialized partner to leading pharma and biotech clients, Indegene\u2019s suite of proprietary AI\/cloud-enabled solutions, next-generation analytics, deep clinical expertise, and end-to-end engagement platforms address critical needs in digital commercialization, medical operations, omnichannel patient\/provider outreach, [&hellip;]<\/p>\n","protected":false},"author":1932,"featured_media":142056,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6352],"tags":[14412,14413,8532],"class_list":["post-171334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research-summary","tag-ai","tag-aritifical-intelligence","tag-technology"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/iStock-981901768.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":178484,"url":"https:\/\/alphastreet.com\/india\/indegene-posts-31-revenue-jump-in-q3-crosses-100-million-quarterly-milestone\/","url_meta":{"origin":171334,"position":0},"title":"Indegene posts 31% revenue jump in Q3, crosses $100 million quarterly milestone","author":"Staff Correspondent","date":"January 30, 2026","format":false,"excerpt":"Indegene Ltd (NSE:INDGN), a life sciences services firm reported more than 30% year-on-year revenue growth for the December quarter, crossing the $100 million quarterly revenue mark for the first time, as strong client expansion and large deal wins boosted performance. 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Total Expenses for\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/01\/JJ.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/01\/JJ.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/01\/JJ.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/01\/JJ.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/01\/JJ.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/01\/JJ.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":178489,"url":"https:\/\/alphastreet.com\/india\/indegene-crosses-100-million-quarterly-revenue-as-q3-growth-accelerates-on-pharma-demand-and-ai-led-services\/","url_meta":{"origin":171334,"position":2},"title":"Indegene crosses $100 million quarterly revenue as Q3 growth accelerates on pharma demand and AI-led services","author":"Staff Correspondent","date":"January 30, 2026","format":false,"excerpt":"Indegene Ltd (NSE:INDGN), a life sciences services firm, reported more than 30% year-on-year revenue growth for the December quarter, crossing the $100 million quarterly revenue mark for the first time, as strong client expansion and large deal wins boosted performance. 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Financial Results: Mphasis Ltd. reported Total Income for Q4FY23 of \u20b9 3,404 Crores up from \u20b9 3,317 Crore year on year, a\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"Indegene","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/iStock-981901768.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/iStock-981901768.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/iStock-981901768.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/iStock-981901768.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":181534,"url":"https:\/\/alphastreet.com\/india\/indegene-ltd-indgn-q3-2026-earnings-call-transcript\/","url_meta":{"origin":171334,"position":4},"title":"Indegene Ltd (INDGN) Q3 2026 Earnings Call Transcript","author":"News desk","date":"April 6, 2026","format":false,"excerpt":"Indegene Ltd (NSE: INDGN) Q3 2026 Earnings Call dated Jan. 30, 2026 Corporate Participants: Abhishek Agarwal \u2014 Investor Relations Manish Gupta \u2014 Chairman and Chief Executive Office Suhas Prabhu \u2014 Chief Financial Officer Analysts: Analyst Satish Kumar \u2014 Analyst Chirag Kachhadiya \u2014 Analyst Sucrit Patil \u2014 Analyst Kawaljeet Saluja \u2014\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":147838,"url":"https:\/\/alphastreet.com\/india\/info-edge-naukri-q4fy23-76-fall-in-revenue\/","url_meta":{"origin":171334,"position":5},"title":"Info Edge (NAUKRI) Q4FY23; 76% Fall in Revenue","author":"Karan_Singh","date":"May 31, 2023","format":false,"excerpt":"Info Edge (India) Ltd.\u2019s revenue in Q4FY23 fell 76% to \u20b9 170 crores. 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