IGC Pharma Inc. Common Stock (IGC)

FairStock Score: 57/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Looking at IGC Pharma, I see a clinical-stage biotech, not a proven business. Its lead asset, IGC-AD1, is in Phase II for agitation in dementia due to Alzheimer's, so the investment case rests on trial outcomes rather than current economics. The filed figures confirm that: FY2025 (year ended 2025-03-31) revenue was $1.3M and net income was -$7.1M; FY2024 (year ended 2024-03-31) revenue was also $1.3M with a -$13.0M loss. In fiscal Q1 2027 (quarter ended 2026-06-30), revenue was $265,000 and net income was -$2.9M, versus revenue of $328,000 and net income of -$1.6M in fiscal Q1 2026 (quarter ended 2025-06-30). The quarterly loss widened even as revenue shrank. At the 2026-10-26 close of $0.25, FairStock calculates a negative P/E of -4.17, P/B of 4.17, ROE of -83.34%, and ROCE of -50.31%; those are not Graham-style bargains. The balance sheet has D/E of 0.18, which is not alarming, but trailing free cash flow is -$6.8M, a -26.2% FCF yield, and Altman Z is -15.41. Piotroski is 2/9. There is no moat I can identify: no approved product, no profit, and little revenue. The FairStock Lynch category is none because it lost money in each of the last four years. A $25.8M market cap may look small, but without positive cash flow or a clear margin of safety, this is a pipeline option, not a conservative value investment. I would require clinical and financial proof before calling it a value investment.

In plain English: IGC Pharma is a small drug company testing treatments for Alzheimer's-related conditions. It has no profits and very little revenue while losing millions each year, so the business looks financially weak and highly dependent on trial results. At the 2026-10-26 close of $0.25, the price looks risky rather than clearly cheap or fair based on current sales and losses.

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Data as of 2026-10-26 close · note generated 2026-10-28 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q1 2027 10-Q (period ended 2026-06-30) · fiscal Q4 2026 10-Q (period ended 2026-03-31) · fiscal Q2 2026 10-Q (period ended 2025-09-30) · fiscal Q1 2026 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-03-31) · FY2024 10-K (period ended 2024-03-31) · FY2023 10-K (period ended 2023-03-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer