Sunday 18 October 2026 Export IGC’s income statement to Excel — free account

IGC Pharma, Inc.

IGC Pharma, Inc.’s revenue for fiscal 2025 (year ended March 2025) was $1.3 million, down 5.50% from fiscal 2024. In the quarter to June 2026, revenue fell 19.7%, EPS fell 100.0%, free cash flow fell 103.3% and total debt rose 713.5%, each against the same quarter a year earlier. Operating cash flow growth for five consecutive years.

0.25 0.00 0.00%

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Market cap: $26.3M
P/E: 0.0×
Fwd P/E: −3.6×
Dividend yield: —
F-score: 3/9
Altman Z: −16.58
Beneish M: −3.69
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 23.62%

Capital & Financial Ratios $m

Market Cap 26.27

Revenue 1.10

Net Income (2.54)

Free Cash Flow (5.69)

Net Debt 0.73

Current Ratio 0.39

Debt/Equity 0.18

P/E ratio 0.00

Fwd P/E (3.58)

P/S ratio 22.78

P/B ratio 4.09

Past 5Y EPS Growth —

This Y EPS Growth (100.00%)

Next Y EPS Growth 20.00%

Next Y revenue growth 0.50%

Next 5Y EPS Growth 18.29%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 55.73%

10-year low 10-year high

P/B against its own 10 years 86.44%

10-year low 10-year high

EV/Sales against its own 10 years 62.44%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2020	Powerpack
2019	Powerpack
2018	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	3	1	0	0
Receivables	0	0	0	0
Inventory	3	2	1	1
Other	0	1	1	0
	6	4	3	1

	2023	2024	2025	Q'26
Payables	1	1	1	2
ST’ Debt	—	—	—	1
Other	—	—	—	—
	2	2	2	3

Compound Annual Growth %

	10y	5y	3y
Sales	(16.46%)	(20.77%)	47.38%
Cash Flow	0.00%	0.00%	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	(8.11%)	(24.92%)	(35.77%)

Revenue $m

	Jun	Sep	Dec	Year
’26	0	0	—	—
’25	0	0	0	1
’24	1	0	0	1
’23	0	0	0	1
’22	0	0	0	0
’21	1	0	0	1
’20	2	2	1	4

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Jun	Sep	Dec	Mar	Year
’26	(1)	(1)	—	(1)	—
’25	(2)	(1)	(1)	(1)	(5)
’24	(1)	(2)	(2)	(5)	(5)
’23	(2)	(2)	(2)	(7)	(7)
’22	(2)	(2)	(2)	(7)	(7)
’21	(4)	(2)	(2)	(11)	(11)
’20	(3)	(2)	(2)	(9)	(9)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Jun	Sep	Dec	Mar	Year
’26	(1)	(2)	—	(1)	—
’25	(2)	(1)	(1)	(1)	(5)
’24	(1)	(2)	(2)	(6)	(6)
’23	(2)	(1)	(2)	(7)	(7)
’22	(2)	(2)	(2)	(8)	(8)
’21	(5)	(3)	(2)	(12)	(12)
’20	(4)	(2)	(4)	(13)	(13)

Fiscal quarters ending in the months shown.

EPS $

	Jun	Sep	Dec	Mar	Year
’26	(0.02)	(0.02)	—	(0.02)	—
’25	(0.03)	(0.02)	(0.02)	(0.01)	(0.09)
’24	(0.04)	(0.05)	(0.09)	(0.04)	(0.22)
’23	(0.05)	(0.05)	(0.04)	(0.08)	(0.22)
’22	(0.04)	(0.09)	(0.05)	(0.13)	(0.30)
’21	(0.05)	(0.04)	(0.06)	(0.07)	(0.21)
’20	(0.03)	(0.03)	(0.04)	(0.08)	(0.19)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	0.16	0.23	0.25	0.28	0.26	0.97	0.30	0.25	0.27	0.25	Analyst estimates 2026–2028 Powerpack
	High	0.83	1.63	14.58	3.30	4.50	4.65	1.16	0.49	0.91	0.50
People
People	Employees	65	31	26	20	50	50	52	61	67	70
	Revenue/emp, $m	0.10	0.02	0.08	0.26	0.08	0.02	0.01	0.01	0.02	0.02
Income, $m
Income, $m	Revenue	6	1	2	5	4	1	0	1	1	1
	Gross margin, %	13.25	37.59	3.74	2.58	2.82	12.58	48.87	48.52	54.50	48.70
	EBT	(3)	(2)	(2)	(4)	(7)	(9)	(15)	(12)	(13)	(7)
	EBT margin, %	(44.50)	(316.75)	(81.44)	(80.04)	(179.64)	(981.18)	(3,782.37)	(1,263.01)	(966.54)	(560.27)
	Net income	(3)	(2)	(2)	(4)	(7)	(9)	(15)	(12)	(13)	(7)
	Depreciation	1	0	0	0	0	0	1	1	1	1
Per share, $
Per share, $	Revenue	0.39	0.02	0.08	0.14	0.10	0.02	0.01	0.02	0.02	0.02
	Earnings	(0.17)	(0.07)	(0.06)	(0.12)	(0.19)	(0.21)	(0.30)	(0.22)	(0.22)	(0.09)
	Cash flow	(0.01)	(0.05)	(0.07)	(0.09)	(0.22)	(0.26)	(0.15)	(0.13)	(0.09)	(0.06)
	Capex	(0.01)	(0.01)	(0.01)	0.00	(0.11)	(0.04)	(0.01)	0.00	(0.01)	(0.01)
	Free cash flow	(0.02)	(0.06)	(0.08)	(0.10)	(0.33)	(0.29)	(0.16)	(0.14)	(0.10)	(0.07)
	Book value	0.85	0.29	0.29	0.95	0.67	0.78	0.48	0.28	0.12	0.08
	Shares, m	16	26	28	35	39	42	50	53	59	77
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	P/S	1.34	20.78	6.88	13.97	4.75	83.65	119.63	19.62	21.00	17.55
	P/B	0.61	1.64	1.87	2.13	0.73	2.29	1.99	1.20	3.86	3.52
	EV/Sales	1.26	21.42	6.32	8.99	1.85	68.00	93.65	16.25	20.31	17.44
	EV/FCF	(33.41)	(5.79)	(4.08)	(8.18)	(0.32)	(2.76)	(2.48)	(1.18)	(2.60)	(4.23)
Cash, $m
Cash, $m	Operating cash flow	0	(1)	(2)	(3)	(9)	(11)	(7)	(7)	(5)	(5)
	Capex	0	0	0	0	(4)	(2)	(1)	0	0	0
	Free cash flow	0	(2)	(2)	(3)	(13)	(12)	(8)	(7)	(6)	(5)
Balance, $m
Balance, $m	Working capital	1	2	1	26	16	21	13	5	1	1
	Total debt	1	3	2	0	1	1	0	0	0	0
	Net debt	0	0	0	(26)	(12)	(14)	(10)	(3)	(1)	0
	Shareholders’ equity	14	7	8	34	27	33	24	15	7	6
Returns, %
Returns, %	ROA	(14.33)	(12.39)	(16.14)	(18.08)	(23.06)	(27.17)	(47.90)	(52.29)	(96.01)	(76.37)
	ROIC	(13.48)	(16.95)	(13.18)	(36.22)	(29.12)	(29.07)	(71.03)	(61.80)	(97.82)	(76.81)
	ROE	(19.57)	(17.53)	(23.17)	(19.68)	(24.34)	(29.70)	(52.97)	(59.30)	(116.95)	(104.33)

Negative figures in brackets.

All 10 years →

Fiscal years to Mar 2025 · latest quarter Jun 2026 · fundamentals updated 5 Oct 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
IBO Impact Biomedical Inc.	$27.0M	0.2×	—	−57.14% (below 0%: shrinking)	n/m	+167.72% (above 0%: growing)	66.67%	(23,400.00%)	Compare
ATOS Atossa Therapeutics, Inc.	$26.4M	— (loss-making)	—	−94.28% (below 0%: shrinking)	n/m	−32.86% (below 0%: shrinking)	0.00%	0.00%	Compare
IGC IGC Pharma, Inc.	$26.3M	— (loss-making)	— (loss-making)	−19.70% (below 0%: shrinking)	n/m	−103.33% (below 0%: shrinking)	18.11%	(1,050.57%)
MCRB Seres Therapeutics, Inc.	$25.2M	— (loss-making)	— (loss-making)	+96.79% (above 0%: growing)	n/m	−66.15% (below 0%: shrinking)	100.00%	(2,890.35%)	Compare
ABVC ABVC BioPharma, Inc.	$24.9M	— (loss-making)	— (loss-making)	+66,233.33% (above 0%: growing)	n/m	+72.66% (above 0%: growing)	100.00%	0.00%	Compare
BYSI BeyondSpring Inc.	$23.9M	— (loss-making)	— (loss-making)	+87.78% (above 0%: growing)	n/m	+35.78% (above 0%: growing)	100.00%	0.00%	Compare
CYAD Celyad SA	$23.8M	— (loss-making)	— (loss-making)	—	n/m	+78.72% (above 0%: growing)	0.00%	0.00%	Compare
PLRZ Polyrizon Ltd.	$23.7M	—	—	—	—	−744.51% (below 0%: shrinking)	—	—	Compare
IMMP Prima BioMed Ltd	$23.7M	— (loss-making)	—	—	n/m	−589,653.13% (below 0%: shrinking)	100.00%	(101.89%)	Compare
Median of peers	$24.4M	—	—	+87.78%	—	+1.46%	100.00%	0.00%

All 614 Biotechnology stocks →

IGC Pharma, Inc. (IGC) key facts

Concern: IGC Pharma, Inc.’s revenue for fiscal 2025 (year ended March 2025) was $1.3 million, down 5.50% from fiscal 2024.
IGC Pharma, Inc. (IGC) is a Biotechnology company in the Healthcare sector, listed on NYSE American.
As of October 16, 2026, IGC traded at $0.25, a market capitalization of $26.3 million.
Return on equity was −104.3% and debt-to-equity 0.18.
Its Piotroski F-score is 3 out of 9 and its Altman Z-score is −16.58 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations · fundamentals updated Oct 5, 2026.