Symbols / IGC $0.34 -0.74% IGC Pharma, Inc.

Healthcare • Biotechnology • United States • ASE
IGC Chart
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Stock Fundamentals
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Index EQUITY
Sector Healthcare
Industry Biotechnology
CEO Mr. Ram Mukunda
Exch · Country ASE · United States
Market Cap 33.31M
Enterprise Value 30.33M
Income -6.45M
Sales 1.11M
FCF (ttm) -2.52M
Book/sh 0.09
Cash/sh 0.01
Employees 70
Insider 10d —
IPO May 24, 2006
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E —
Forward P/E -3.97
PEG —
P/S 30.12
P/B 3.83
P/C —
EV/EBITDA -4.03
EV/Sales 27.42
Quick Ratio 0.79
Current Ratio 1.32
Debt/Eq 1.80
LT Debt/Eq —
EPS (ttm) -0.06
EPS next Y -0.09
EPS Growth —
Revenue Growth -53.60%
EPS Gr Q/Q —
Rev Gr Q/Q —
Earnings (next) 2025-11-14
Earnings (prior) 2025-11-14
ROA -50.31%
ROE -83.34%
ROIC —
Gross Margin 46.20%
Oper. Margin -15.18%
Profit Margin 0.00%
Shs Outstand 98.80M
Shs Float 83.71M
Insider Own 9.81%
Instit Own 22.76%
Short Float 1.56%
Short Ratio 2.38
Short Interest 874.38K
52W High 0.50
vs 52W High -32.56%
52W Low 0.24
vs 52W Low 40.50%
Beta 0.31
Impl. Vol. 1.06%
Rel Volume 0.39
Avg Volume 1.05M
Volume 410.57K
Target (mean) $4.12
Tgt Median $4.12
Tgt Low $3.00
Tgt High $5.25
# Analysts 2
Recom None
Prev Close $0.34
Price $0.34
Change -0.74%
About

IGC Pharma, Inc., a clinical stage pharmaceutical company, develops novel therapeutic candidates for neuropsychiatric and neurodegenerative disorders, with a primary focus on Alzheimer's disease in the United States and Colombia. The company's lead product is IGC-AD1 that is in Phase II clinical trial for the treatment of agitation in dementia due to Alzheimer's. Its pre-clinical stage product candidate includes TGR-63 and IGC-M3 to treat Alzheimer's disease. In addition, the company develops MINT-AD, an AI-driven assistant for healthcare providers. The company was formerly known as India Globalization Capital, Inc. and changed its name to IGC Pharma, Inc. in March 2023. IGC Pharma, Inc. was incorporated in 2005 and is headquartered in Potomac, Maryland.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$4.13
Mean price target
2. Current target
$0.34
Latest analyst target
3. DCF / Fair value
$-0.46
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$0.34
Low
$3.00
High
$5.25
Mean
$4.13

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-08 main Ascendiant Capital Buy → Buy $5
2026-02-23 main Ascendiant Capital Buy → Buy $5
2025-12-09 main Ascendiant Capital Buy → Buy $5
2025-08-26 main Ascendiant Capital Buy → Buy $5
2025-03-06 reit Alliance Global Partners Buy → Buy $4
2025-02-24 main Ascendiant Capital Buy → Buy $4
2024-12-05 main Ascendiant Capital Buy → Buy $4
2024-09-03 main Ascendiant Capital Buy → Buy $4
2024-07-29 main Ascendiant Capital Buy → Buy $4
2024-07-17 init Alliance Global Partners — → Buy $4
2024-06-21 reit Ascendiant Capital Buy → Buy $3
News
RSS: Latest IGC news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-01 MUKUNDA RAM Chief Executive Officer — 706,409 $0.26 $84,000
2026-04-01 PRINS RICHARD K Director — 170,000 — —
2026-04-01 GRIMALDI CLAUDIA Officer and Director — 238,462 $0.26 $36,000
2026-04-01 MORAN JAMES P Director — 130,000 — —
2026-02-03 MUKUNDA RAM Chief Executive Officer — 50,000 — —
2026-01-16 PRINS RICHARD K Director — 100,000 — —
2025-10-17 MUKUNDA RAM Chief Executive Officer — 100,000 $0.00 $0
2025-10-17 GRIMALDI CLAUDIA Officer and Director — 50,000 $0.00 $0
2025-03-31 MUKUNDA RAM Chief Executive Officer — 566,666 — —
2025-03-31 PRINS RICHARD K Director — 228,333 — —
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-03-31 2024-03-31 2023-03-31 2022-03-31
Total Revenue
1.27
-5.50%
1.34
+47.64%
0.91
+129.47%
0.40
Operating Revenue
1.27
+7.62%
1.18
+29.64%
0.91
+129.47%
0.40
Cost Of Revenue
0.65
+6.54%
0.61
+30.49%
0.47
+131.03%
0.20
Reconciled Cost Of Revenue
0.65
+6.54%
0.61
+30.49%
0.47
+131.03%
0.20
Gross Profit
0.62
-15.55%
0.73
+65.84%
0.44
+127.84%
0.19
Operating Expense
8.06
-23.42%
10.53
-12.34%
12.01
-23.10%
15.62
Research And Development
3.65
-3.13%
3.77
+9.01%
3.46
+48.54%
2.33
Selling General And Administration
4.41
-34.74%
6.76
-20.98%
8.55
-35.66%
13.29
Total Expenses
8.72
-21.77%
11.14
-10.73%
12.48
-21.12%
15.82
Operating Income
-7.45
+24.00%
-9.80
+15.32%
-11.57
+25.00%
-15.43
Total Operating Income As Reported
-7.45
+24.00%
-9.80
+15.32%
-11.57
+25.00%
-15.43
EBITDA
-6.98
+23.79%
-9.16
+16.06%
-10.91
+26.14%
-14.78
Normalized EBITDA
-6.98
-20.05%
-5.82
+46.71%
-10.91
+25.90%
-14.73
Reconciled Depreciation
0.46
-27.16%
0.64
-3.04%
0.66
+0.92%
0.65
EBIT
-7.45
+24.00%
-9.80
+15.32%
-11.57
+25.00%
-15.43
Total Unusual Items
0.00
+100.00%
-3.35
0.00
+100.00%
-0.05
Total Unusual Items Excluding Goodwill
0.00
+100.00%
-3.35
0.00
+100.00%
-0.05
Special Income Charges
0.00
+100.00%
-3.35
0.00
+100.00%
-0.05
Impairment Of Capital Assets
0.00
-100.00%
3.35
0.00
—
Write Off
—
—
0.00
-100.00%
0.05
Net Income
-7.12
+45.22%
-13.00
-12.98%
-11.51
+23.38%
-15.02
Pretax Income
-7.12
+45.22%
-13.00
-12.98%
-11.51
+23.38%
-15.02
Other Income Expense
0.33
+110.15%
-3.20
-5026.15%
0.07
-84.22%
0.41
Other Non Operating Income Expenses
0.33
+127.27%
0.14
+120.00%
0.07
-85.90%
0.46
Tax Provision
0.00
0.00
0.00
0.00
Tax Rate For Calcs
0.00
0.00
0.00
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
-7.12
+45.22%
-13.00
-12.98%
-11.51
+23.38%
-15.02
Net Income From Continuing Operation Net Minority Interest
-7.12
+45.22%
-13.00
-12.98%
-11.51
+23.38%
-15.02
Net Income From Continuing And Discontinued Operation
-7.12
+45.22%
-13.00
-12.98%
-11.51
+23.38%
-15.02
Net Income Continuous Operations
-7.12
+45.22%
-13.00
-12.98%
-11.51
+23.38%
-15.02
Normalized Income
-7.12
+26.25%
-9.65
+16.09%
-11.51
+23.12%
-14.97
Net Income Common Stockholders
-7.12
+45.22%
-13.00
-12.98%
-11.51
+23.38%
-15.02
Diluted EPS
-0.09
+59.09%
-0.22
+0.00%
-0.22
+26.67%
-0.30
Basic EPS
-0.09
+59.09%
-0.22
+0.00%
-0.22
+26.67%
-0.30
Basic Average Shares
76.52
+30.04%
58.84
+11.91%
52.58
+5.17%
49.99
Diluted Average Shares
76.52
+30.04%
58.84
+11.91%
52.58
+5.17%
49.99
Diluted NI Availto Com Stockholders
-7.12
+45.22%
-13.00
-12.98%
-11.51
+23.38%
-15.02
Line Item Trend 2024-03-31
Total Assets
9.90
Current Assets
3.71
Cash Cash Equivalents And Short Term Investments
1.20
Cash And Cash Equivalents
1.20
Cash Equivalents
0.29
Cash Financial
0.91
Other Short Term Investments
0.00
Receivables
0.09
Accounts Receivable
0.04
Gross Accounts Receivable
0.06
Allowance For Doubtful Accounts Receivable
-0.02
Other Receivables
0.05
Inventory
1.54
Raw Materials
1.10
Work In Process
0.00
Finished Goods
0.44
Prepaid Assets
0.04
Assets Held For Sale Current
0.72
Other Current Assets
0.12
Total Non Current Assets
6.20
Net PPE
3.89
Gross PPE
6.33
Accumulated Depreciation
-2.44
Properties
0.00
Land And Improvements
0.00
Buildings And Improvements
2.30
Machinery Furniture Equipment
3.83
Construction In Progress
0.00
Other Properties
0.20
Goodwill And Other Intangible Assets
1.62
Other Intangible Assets
1.62
Investments And Advances
—
Other Investments
—
Non Current Accounts Receivable
0.69
Non Current Prepaid Assets
0.00
Total Liabilities Net Minority Interest
2.58
Current Liabilities
2.34
Payables And Accrued Expenses
0.77
Payables
0.77
Accounts Payable
0.77
Pensionand Other Post Retirement Benefit Plans Current
0.82
Current Debt And Capital Lease Obligation
0.12
Current Debt
—
Other Current Borrowings
—
Current Capital Lease Obligation
0.12
Other Current Liabilities
0.42
Total Non Current Liabilities Net Minority Interest
0.24
Long Term Debt And Capital Lease Obligation
0.22
Long Term Debt
0.14
Long Term Capital Lease Obligation
0.08
Long Term Provisions
0.02
Other Non Current Liabilities
—
Stockholders Equity
7.32
Common Stock Equity
7.32
Capital Stock
124.41
Common Stock
124.41
Share Issued
66.69
Ordinary Shares Number
66.69
Treasury Shares Number
0.00
Retained Earnings
-113.67
Gains Losses Not Affecting Retained Earnings
-3.42
Other Equity Adjustments
-3.42
Total Equity Gross Minority Interest
7.32
Total Capitalization
7.46
Working Capital
1.36
Invested Capital
7.46
Total Debt
0.34
Capital Lease Obligations
0.21
Net Tangible Assets
5.71
Tangible Book Value
5.71
Current Provisions
0.21
Line Item Trend 2025-03-31 2024-03-31 2023-03-31 2022-03-31
Operating Cash Flow
-4.07
+21.81%
-5.20
+26.22%
-7.05
+5.56%
-7.46
Cash Flow From Continuing Operating Activities
-4.07
+21.81%
-5.20
+26.22%
-7.05
+5.56%
-7.46
Net Income From Continuing Operations
-5.92
+54.43%
-13.00
-12.98%
-11.51
+23.38%
-15.02
Depreciation Amortization Depletion
0.46
-27.16%
0.64
-3.04%
0.66
+0.92%
0.65
Depreciation
—
0.56
—
—
Amortization Cash Flow
—
0.07
—
—
Depreciation And Amortization
0.46
-27.16%
0.64
-3.04%
0.66
+0.92%
0.65
Amortization Of Intangibles
—
0.07
—
—
Other Non Cash Items
—
—
—
-0.43
Stock Based Compensation
1.19
-33.16%
1.77
-37.64%
2.84
+29.40%
2.20
Provisionand Write Offof Assets
0.00
-100.00%
0.09
-26.19%
0.13
-92.67%
1.72
Asset Impairment Charge
0.00
-100.00%
3.45
0.00
-100.00%
0.88
Operating Gains Losses
-0.01
+68.18%
-0.04
-212.82%
0.04
+109.07%
-0.43
Gain Loss On Sale Of PPE
-0.03
+43.18%
-0.04
-212.82%
0.04
0.00
Change In Working Capital
0.22
-88.17%
1.89
+138.54%
0.79
-68.69%
2.54
Change In Receivables
-0.01
+60.00%
-0.03
-600.00%
0.01
-90.00%
0.05
Changes In Account Receivables
-0.01
+60.00%
-0.03
-600.00%
0.01
-90.00%
0.05
Change In Inventory
0.11
-89.38%
1.01
+12.37%
0.90
-53.52%
1.93
Change In Prepaid Assets
-0.19
-226.67%
0.15
-74.62%
0.59
+9.24%
0.54
Change In Payables And Accrued Expense
0.31
-28.86%
0.44
+181.63%
-0.54
-243.73%
0.38
Change In Accrued Expense
0.25
+27.41%
0.20
+323.86%
-0.09
+31.78%
-0.13
Change In Payable
0.06
-74.49%
0.24
+153.88%
-0.45
-189.48%
0.50
Change In Account Payable
0.06
-74.49%
0.24
+153.88%
-0.45
-189.48%
0.50
Change In Other Current Assets
0.08
-82.88%
0.44
+1807.69%
-0.03
+91.22%
-0.30
Change In Other Current Liabilities
-0.07
+41.46%
-0.12
+8.21%
-0.13
-109.38%
-0.06
Investing Cash Flow
-0.30
+5.36%
-0.32
-34.89%
-0.23
+68.33%
-0.74
Cash Flow From Continuing Investing Activities
-0.30
+5.36%
-0.32
-34.89%
-0.23
+68.33%
-0.74
Net PPE Purchase And Sale
-0.08
+17.02%
-0.09
-141.23%
0.23
+210.14%
-0.21
Purchase Of PPE
-0.09
+31.88%
-0.14
+55.48%
-0.31
-31.36%
-0.24
Sale Of PPE
0.02
-63.64%
0.04
-91.82%
0.54
+1755.17%
0.03
Capital Expenditure
-0.32
+38.64%
-0.52
+16.80%
-0.62
+19.71%
-0.77
Net Investment Purchase And Sale
0.00
-100.00%
0.15
+200.00%
-0.15
0.00
Purchase Of Investment
0.00
—
-0.15
0.00
Sale Of Investment
—
—
—
0.00
Net Intangibles Purchase And Sale
-0.22
+41.11%
-0.38
-22.01%
-0.31
+42.24%
-0.54
Purchase Of Intangibles
-0.22
+41.11%
-0.38
-22.01%
-0.31
+42.24%
-0.54
Financing Cash Flow
3.65
+3.46%
3.52
+3424.00%
0.10
-97.59%
4.14
Cash Flow From Continuing Financing Activities
3.65
+3.46%
3.52
+3424.00%
0.10
-97.59%
4.14
Net Issuance Payments Of Debt
-0.00
+0.00%
-0.00
+0.00%
-0.00
+0.00%
-0.00
Repayment Of Debt
-0.00
+0.00%
-0.00
+0.00%
-0.00
+0.00%
-0.00
Long Term Debt Payments
-0.00
+0.00%
-0.00
+0.00%
-0.00
+0.00%
-0.00
Net Long Term Debt Issuance
-0.00
+0.00%
-0.00
+0.00%
-0.00
+0.00%
-0.00
Net Common Stock Issuance
3.65
+3.46%
3.53
+3324.27%
0.10
-97.52%
4.14
Changes In Cash
-0.72
+63.91%
-1.99
+72.26%
-7.18
-76.81%
-4.06
Effect Of Exchange Rate Changes
-0.01
-50.00%
-0.01
+92.68%
-0.08
-215.38%
-0.03
Beginning Cash Position
1.20
-62.52%
3.20
-69.45%
10.46
-28.10%
14.55
End Cash Position
0.47
-60.77%
1.20
-62.52%
3.20
-69.45%
10.46
Free Cash Flow
-4.38
+23.33%
-5.71
+25.46%
-7.67
+6.89%
-8.23
Interest Paid Supplemental Data
—
—
—
0.00
Common Stock Issuance
3.65
+3.46%
3.53
+3324.27%
0.10
-97.52%
4.14
Issuance Of Capital Stock
3.65
+3.46%
3.53
+3324.27%
0.10
-97.52%
4.14
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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