IGC Pharma, Inc. (IGC) 10-Year Financial Performance & Capital Metrics

IGC • • Industrial / General

HealthcareBiotechnologyNeurology & CNS DisordersAlzheimer's & Neurodegenerative

AboutIGC Pharma, Inc. is a clinical-stage pharmaceutical company that is focused on Alzheimer's disease, developing innovative solutions to address this devastating illness. It has two investigational drug assets targeting Alzheimer's disease: IGC-AD1, which is in a Phase 2 clinical trial as a treatment for agitation in dementia due to Alzheimer's and TGR-63 that is in pre-clinical development. In addition to its drug development pipeline, IGC Pharma seeks to leverage artificial intelligence (AI) for Alzheimer's research. The company was founded by Ram Mukunda on April 29, 2005 and is headquartered in Potomac, MD.Show more

Revenue $1M -5.5%
EBITDA -$7M +25.5%
Net Income -$7M +45.2%
EPS (Diluted) -0.09 +57.7%
Gross Margin 48.7% -10.6%
EBITDA Margin -537.21% +21.1%
Operating Margin -585.84% +19.6%
Net Margin -560.27% +42.0%
ROE -104.33% +10.8%
ROIC -88.4% -12.3%
Debt/Equity 0.04 -20.9%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 19 (bottom 19%)
✗Sales declining 20.8% over 5 years
✗Shares diluted 30.0% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-16.46%

5Y-20.77%

3Y47.38%

TTM-6.51%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM48.72%

EPS CAGR

10Y-

5Y-

3Y-

TTM57.93%

ROCE

10Y Avg-42.96%

5Y Avg-66.44%

3Y Avg-83.37%

Latest-105.98%

Peer Comparison

Alzheimer's & Neurodegenerative

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
ANVSAnnovis Bio, Inc.	84.81M	3.20	-0.00			-189.15%
CLNNClene Inc.	60.19M	5.11	-0.90	-47.71%	-142.5%	-17.38%
ABOSAcumen Pharmaceuticals, Inc.	112.67M	1.86	-1.09			-143.12%	0.16
BHVNBiohaven Ltd.	1.58B	11.92	-1.28			-198.83%	0.09
IKTInhibikase Therapeutics, Inc.	200.09M	1.65	-1.42	-100%		-65.37%	0.00
ALECAlector, Inc.	198.66M	1.82	-1.48	3.6%	-156.03%	-186.68%	0.34
CGTXCognition Therapeutics, Inc.	121.82M	1.38	-1.62			-76.61%	0.04
ATHEAlterity Therapeutics Limited	60M	3.31	-2.90	35.32%	-330.63%	-73.75%	0.00

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	6.37M	580.37K	2.19M	5.12M	4.07M	898K	397K	911K	1.34M	1.27M
Revenue Growth %	-0.17%	-0.91%	2.78%	1.33%	-0.2%	-0.78%	-0.56%	1.29%	0.48%	-0.06%
Cost of Goods Sold+	5.52M	362.13K	2.11M	4.98M	3.96M	1.25M	203K	1.07M	612K	652K
COGS % of Revenue	0.87%	0.62%	0.96%	0.97%	0.97%	1.39%	0.51%	1.17%	0.46%	0.51%
Gross Profit+	843.29K	218.24K	81.52K	132K	115K	-349K	194K	-158K	733K	619K
Gross Margin %	0.13%	0.38%	0.04%	0.03%	0.03%	-0.39%	0.49%	-0.17%	0.54%	0.49%
Gross Profit Growth %	0.45%	-0.74%	-0.63%	0.62%	-0.13%	-4.03%	1.56%	-1.81%	5.64%	-0.16%
Operating Expenses+	3.75M	2.27M	1.87M	4.78M	6.98M	8.38M	15.62M	11.41M	10.53M	8.06M
OpEx % of Revenue	0.59%	3.91%	0.85%	0.93%	1.71%	9.33%	39.35%	12.53%	7.83%	6.35%
Selling, General & Admin	2.7M	2.27M	1.87M	3.52M	5.97M	7.45M	13.29M	7.95M	6.76M	4.41M
SG&A % of Revenue	0.42%	3.91%	0.85%	0.69%	1.47%	8.29%	33.48%	8.73%	5.02%	3.47%
Research & Development	0	114K	137K	1.26M	1.01M	929K	2.33M	3.46M	3.77M	3.65M
R&D % of Revenue	-	0.2%	0.06%	0.25%	0.25%	1.03%	5.87%	3.8%	2.81%	2.88%
Other Operating Expenses	1.05M	119.93K	29.06K	0	0	0	0	0	0	0
Operating Income+	-2.91M	-2.05M	-1.79M	-4.64M	-6.86M	-8.72M	-15.43M	-11.57M	-9.8M	-7.45M
Operating Margin %	-0.46%	-3.54%	-0.82%	-0.91%	-1.69%	-9.71%	-38.86%	-12.7%	-7.28%	-5.86%
Operating Income Growth %	0.33%	0.29%	0.13%	-1.6%	-0.48%	-0.27%	-0.77%	0.25%	0.15%	0.24%
EBITDA+	-2.18M	-1.66M	-1.77M	-4.58M	-6.72M	-8.25M	-14.78M	-10.91M	-9.16M	-6.83M
EBITDA Margin %	-0.34%	-2.86%	-0.81%	-0.9%	-1.65%	-9.18%	-37.22%	-11.98%	-6.81%	-5.37%
EBITDA Growth %	0.39%	0.24%	-0.07%	-1.59%	-0.47%	-0.23%	-0.79%	0.26%	0.16%	0.25%
D&A (Non-Cash Add-back)	728.74K	396.35K	19.41K	59K	144K	478K	651K	657K	637K	618K
EBIT	-2.62M	-1.61M	-1.75M	-4.64M	-6.86M	-8.81M	-15.02M	-11.51M	-9.8M	-7.45M
Net Interest Income+	-212K	-101.79K	-26K	0	0	0	0	0	0	0
Interest Income	2.08K	121.68K	4.82K	0	0	0	0	0	0	0
Interest Expense	213.93K	223.46K	30.74K	0	0	0	0	0	0	0
Other Income/Expense	72.34K	215.96K	2.95K	548K	-451K	-87K	412K	65K	-3.2M	325K
Pretax Income+	-2.83M	-1.84M	-1.79M	-4.09M	-7.32M	-8.81M	-15.02M	-11.51M	-13M	-7.12M
Pretax Margin %	-0.44%	-3.17%	-0.81%	-0.8%	-1.8%	-9.81%	-37.82%	-12.63%	-9.67%	-5.6%
Income Tax+	579	14.43K	464	2K	0	0	0	0	0	0
Effective Tax Rate %	0.99%	1.02%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-2.81M	-1.87M	-1.79M	-4.1M	-7.32M	-8.81M	-15.02M	-11.51M	-13M	-7.12M
Net Margin %	-0.44%	-3.22%	-0.81%	-0.8%	-1.8%	-9.81%	-37.82%	-12.63%	-9.67%	-5.6%
Net Income Growth %	0.39%	0.34%	0.04%	-1.29%	-0.79%	-0.2%	-0.7%	0.23%	-0.13%	0.45%
Net Income (Continuing)	-2.83M	-1.85M	-1.79M	-4.1M	-7.32M	-8.81M	-15.02M	-11.51M	-13M	-7.12M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	472.06K	-8.84K	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.17	-0.07	-0.06	-0.12	-0.19	-0.21	-0.30	-0.22	-0.22	-0.09
EPS Growth %	0.45%	0.59%	0.14%	-1%	-0.58%	-0.11%	-0.43%	0.27%	0%	0.58%
EPS (Basic)	-0.17	-0.07	-0.06	-0.12	-0.19	-0.21	-0.30	-0.22	-0.22	-0.09
Diluted Shares Outstanding	16.39M	25.66M	27.94M	35.39M	39.49M	41.96M	49.99M	52.58M	58.84M	76.52M
Basic Shares Outstanding	16.39M	25.66M	27.94M	35.39M	39.49M	41.96M	49.99M	52.58M	58.84M	76.52M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	3.84M	3.58M	3.2M	26.72M	17.76M	23.52M	15.11M	6.47M	3.71M	2.9M
Cash & Short-Term Investments	1.49M	2.42M	1.66M	25.61M	12.34M	14.63M	10.46M	3.35M	1.2M	405K
Cash Only	1.49M	538.03K	1.66M	25.61M	7.26M	14.55M	10.46M	3.2M	1.2M	405K
Short-Term Investments	0	1.88M	0	0	5.08M	80K	0	154K	0	0
Accounts Receivable	962.66K	752.93K	557.81K	84K	133K	175K	597K	107K	39K	77K
Days Sales Outstanding	55.19	473.52	92.84	5.99	11.92	71.13	548.88	42.87	10.58	22.11
Inventory	162.09K	0	486.5K	248K	4.25M	7.18M	3.55M	2.65M	1.58M	1.36M
Days Inventory Outstanding	10.71	-	84.12	18.16	391.57	2.1K	6.38K	905.16	942.92	761.35
Other Current Assets	1.23M	0	502.14K	0	844K	1.38M	336K	96K	887K	1.04M
Total Non-Current Assets+	15.02M	7.7M	7.65M	7.74M	11.23M	12.35M	11.72M	10.71M	6.2M	5.85M
Property, Plant & Equipment	7.07M	953.94K	6.24M	5.89M	10.35M	11.33M	9.87M	8.54M	3.89M	3.32M
Fixed Asset Turnover	0.90x	0.61x	0.35x	0.87x	0.39x	0.08x	0.04x	0.11x	0.35x	0.38x
Goodwill	1.18M	198.17K	0	0	0	0	0	0	0	0
Intangible Assets	113.32K	0	127.83K	184K	252K	407K	917K	1.17M	1.62M	1.85M
Long-Term Investments	5.78M	6.01M	798.92K	794K	11K	12K	0	0	686K	680K
Other Non-Current Assets	507.3K	539.72K	484.56K	878K	610K	603K	937K	1M	2K	1K
Total Assets+	18.86M	11.28M	10.85M	34.47M	28.98M	35.87M	26.83M	17.18M	9.9M	8.75M
Asset Turnover	0.34x	0.05x	0.20x	0.15x	0.14x	0.03x	0.01x	0.05x	0.14x	0.15x
Asset Growth %	-0.07%	-0.4%	-0.04%	2.18%	-0.16%	0.24%	-0.25%	-0.36%	-0.42%	-0.12%
Total Current Liabilities+	3.2M	1.29M	2.35M	878K	1.95M	2.37M	2.44M	1.9M	2.34M	2.26M
Accounts Payable	330.63K	416.53K	52.27K	319K	762K	476K	981K	530K	773K	883K
Days Payables Outstanding	21.85	419.83	9.04	23.36	70.29	139.33	1.76K	180.96	461.02	494.32
Short-Term Debt	2.02M	0	1.8M	50K	50K	304K	3K	0	127K	0
Deferred Revenue (Current)	850.45K	0	0	474K	0	0	0	0	0	0
Other Current Liabilities	534	0	289.95K	-439K	182K	316K	1.33M	358K	624K	1.28M
Current Ratio	1.20x	2.78x	1.37x	30.44x	9.12x	9.93x	6.19x	3.41x	1.58x	1.28x
Quick Ratio	1.15x	2.78x	1.16x	30.15x	6.94x	6.90x	4.74x	2.01x	0.91x	0.68x
Cash Conversion Cycle	44.05	-	167.92	0.79	333.2	2.03K	5.16K	767.07	492.48	289.14
Total Non-Current Liabilities+	1.71M	2.64M	442.4K	15K	501K	696K	501K	369K	241K	160K
Long-Term Debt	801.47K	2.64M	427K	0	0	276K	144K	141K	137K	134K
Capital Lease Obligations	0	0	0	0	485K	405K	341K	207K	84K	10K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	910.58K	0	15.4K	15K	16K	15K	16K	21K	20K	16K
Total Liabilities	4.91M	3.93M	2.79M	893K	2.45M	3.06M	2.94M	2.27M	2.58M	2.42M
Total Debt+	2.82M	2.64M	2.23M	50K	624K	1.07M	611K	481K	348K	238K
Net Debt	1.33M	2.11M	569K	-25.56M	-6.63M	-13.47M	-9.85M	-2.71M	-850K	-167K
Debt / Equity	0.20x	0.36x	0.28x	0.00x	0.02x	0.03x	0.03x	0.03x	0.05x	0.04x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-13.58x	-9.19x	-58.19x	-	-	-	-	-	-	-
Total Equity+	13.95M	7.35M	8.06M	33.57M	26.54M	32.8M	23.89M	14.91M	7.32M	6.33M
Equity Growth %	-0.05%	-0.47%	0.1%	3.16%	-0.21%	0.24%	-0.27%	-0.38%	-0.51%	-0.14%
Book Value per Share	0.85	0.29	0.29	0.95	0.67	0.78	0.48	0.28	0.12	0.08
Total Shareholders' Equity	13.48M	7.36M	8.06M	33.57M	26.54M	32.8M	23.89M	14.91M	7.32M	6.33M
Common Stock	2.33K	2.83K	63.92M	94.04M	94.75M	109.72M	116.02M	118.97M	124.41M	130.57M
Retained Earnings	-50.14M	-52.01M	-53.8M	-58.05M	-65.37M	-74.14M	-89.16M	-100.67M	-113.67M	-120.74M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-2.27M	-2.05M	-2.06M	-2.42M	-2.85M	-2.77M	-2.97M	-3.39M	-3.42M	-3.5M
Minority Interest	472.06K	-8.84K	0	0	0	0	0	0	0	0

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	-157.7K	-1.39M	-1.93M	-3.33M	-8.68M	-10.8M	-7.46M	-7.05M	-5.2M	-4.79M
Operating CF Margin %	-0.02%	-2.4%	-0.88%	-0.65%	-2.13%	-12.03%	-18.8%	-7.74%	-3.87%	-3.77%
Operating CF Growth %	0.94%	-7.82%	-0.39%	-0.72%	-1.61%	-0.24%	0.31%	0.06%	0.26%	0.08%
Net Income	-2.83M	-1.85M	-1.79M	-4.1M	-7.32M	-8.81M	-15.02M	-11.51M	-13M	-7.12M
Depreciation & Amortization	728.74K	396.35K	19.41K	59K	144K	478K	651K	657K	637K	618K
Stock-Based Compensation	214.25K	203.2K	576.25K	610K	770K	658K	2.2M	2.84M	1.77M	1.64M
Deferred Taxes	579	18.97K	15.61K	0	0	0	0	-451K	0	0
Other Non-Cash Items	662.7K	-166.98K	-1.51K	-282K	782K	169K	2.17M	616K	3.5M	140K
Working Capital Changes	1.07M	10.25K	-754.58K	380K	-3.06M	-3.29M	2.54M	794K	1.89M	-72K
Change in Receivables	80.46K	-144.71K	-33.77K	474K	-49K	-42K	50K	5K	-25K	-8K
Change in Inventory	545.29K	-14.56K	-424.71K	239K	-4M	-1.23M	1.93M	897K	1.01M	180K
Change in Payables	-28.53K	191.04K	-12.54K	-140K	442K	-287K	504K	-451K	243K	106K
Cash from Investing+	-183.42K	-241.35K	-657.11K	-260K	-9.55M	3.39M	-742K	-235K	-317K	-442K
Capital Expenditures	-122.19K	-145.68K	-200.56K	-60K	-4.39M	-1.59M	-236K	-619K	-138K	-112K
CapEx % of Revenue	0.02%	0.25%	0.09%	0.01%	1.08%	1.77%	0.59%	0.68%	0.1%	0.09%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1.35K	-95.68K	-456.56K	-200K	-77K	-75K	-506K	538K	-179K	-330K
Cash from Financing+	1.01M	707.56K	3.71M	27.6M	-59K	14.69M	4.14M	100K	3.52M	4.45M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	-137.29K	190.91K	18K	0	0	0	0	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-279.89K	-1.54M	-2.13M	-3.39M	-13.14M	-12.39M	-8.23M	-7.67M	-5.71M	-5.28M
FCF Margin %	-0.04%	-2.65%	-0.97%	-0.66%	-3.23%	-13.8%	-20.74%	-8.41%	-4.25%	-4.15%
FCF Growth %	0.89%	-4.49%	-0.39%	-0.59%	-2.88%	0.06%	0.34%	0.07%	0.25%	0.08%
FCF per Share	-0.02	-0.06	-0.08	-0.10	-0.33	-0.30	-0.16	-0.15	-0.10	-0.07
FCF Conversion (FCF/Net Income)	0.06x	0.75x	1.08x	0.81x	1.19x	1.23x	0.50x	0.61x	0.40x	0.67x
Interest Paid	0	119.69K	0	0	8K	0	0	0	0	0
Taxes Paid	0	14.43K	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-19.57%	-17.53%	-23.17%	-19.68%	-24.34%	-29.7%	-52.97%	-59.3%	-116.95%	-104.33%
Return on Invested Capital (ROIC)	-13.34%	-12.46%	-14.83%	-41.84%	-36.88%	-33.35%	-69.34%	-66.15%	-78.73%	-88.4%
Gross Margin	13.24%	37.6%	3.72%	2.58%	2.82%	-38.86%	48.87%	-17.34%	54.5%	48.7%
Net Margin	-44.1%	-321.69%	-81.44%	-80.08%	-179.64%	-981.18%	-3782.37%	-1263.01%	-966.54%	-560.27%
Debt / Equity	0.20x	0.36x	0.28x	0.00x	0.02x	0.03x	0.03x	0.03x	0.05x	0.04x
Interest Coverage	-13.58x	-9.19x	-58.19x	-	-	-	-	-	-	-
FCF Conversion	0.06x	0.75x	1.08x	0.81x	1.19x	1.23x	0.50x	0.61x	0.40x	0.67x
Revenue Growth	-17.1%	-90.88%	277.86%	133.29%	-20.41%	-77.95%	-55.79%	129.47%	47.64%	-5.5%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Tolling White Labeling Service Member	-	-	-	-	-	-	-	382K	228K	1.16M
Tolling White Labeling Service Member Growth	-	-	-	-	-	-	-	-	-40.31%	407.89%
WellnessAndLifestyleMember	-	-	-	-	-	-	-	416K	953K	113K
WellnessAndLifestyleMember Growth	-	-	-	-	-	-	-	-	129.09%	-88.14%
Construction	-	-	-	-	-	-	-	76K	146K	-
Construction Growth	-	-	-	-	-	-	-	-	92.11%	-
Rental	-	-	-	-	-	-	-	37K	18K	-
Rental Growth	-	-	-	-	-	-	-	-	-51.35%	-
LegacyInfrastructureMember	-	-	-	-	3.66M	175K	1.2M	-	-	-
LegacyInfrastructureMember Growth	-	-	-	-	-	-95.22%	585.71%	-	-	-
PlantAndCannabinoidMember	-	-	-	-	411K	723K	-	-	-	-
PlantAndCannabinoidMember Growth	-	-	-	-	-	75.91%	-	-	-	-
Legacy Infrastructure	-	-	-	5.09M	-	-	-	-	-	-
Legacy Infrastructure Growth	-	-	-	-	-	-	-	-	-	-
Plant And Cannabinoid	-	-	-	25K	-	-	-	-	-	-
Plant And Cannabinoid Growth	-	-	-	-	-	-	-	-	-	-
Legacy Business	-	-	2.19M	-	-	-	-	-	-	-
Legacy Business Growth	-	-	-	-	-	-	-	-	-	-
Alternative Therapies	-	-	-	-	-	-	-	-	-	-
Alternative Therapies Growth	-	-	-	-	-	-	-	-	-	-
Rental Lease	114.75K	367.28K	-	-	-	-	-	-	-	-
Rental Lease Growth	-	220.07%	-	-	-	-	-	-	-	-
Trading Electronic Component	-	213.09K	-	-	-	-	-	-	-	-
Trading Electronic Component Growth	-	-	-	-	-	-	-	-	-	-
Trading	6.25M	-	-	-	-	-	-	-	-	-
Trading Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
UNITED STATES	-	-	-	-	-	-	-	777K	1.18M	1.27M
UNITED STATES Growth	-	-	-	-	-	-	-	-	51.74%	7.63%
COLOMBIA	-	-	-	-	-	-	-	21K	2K	2K
COLOMBIA Growth	-	-	-	-	-	-	-	-	-90.48%	0.00%
INDIA	114.75K	124.87K	-	-	-	-	-	113K	164K	-
INDIA Growth	-	8.82%	-	-	-	-	-	-	45.13%	-
North America	-	-	-	25K	411K	723K	-	-	-	-
North America Growth	-	-	-	-	1544.00%	75.91%	-	-	-	-
HONG KONG	6.25M	213.09K	1.8M	-	-	-	-	-	-	-
HONG KONG Growth	-	-96.59%	743.36%	-	-	-	-	-	-	-
Asia	-	-	395.44K	-	-	-	-	-	-	-
Asia Growth	-	-	-	-	-	-	-	-	-	-
MALAYSIA	-	242.41K	-	-	-	-	-	-	-	-
MALAYSIA Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

IGC Pharma, Inc. (IGC) reported $1.1M in revenue for fiscal year 2025. This represents a 74% decrease from $4.2M in 2012.

IGC Pharma, Inc. (IGC) saw revenue decline by 5.5% over the past year.

IGC Pharma, Inc. (IGC) reported a net loss of $6.4M for fiscal year 2025.

Dividend & Returns

IGC Pharma, Inc. (IGC) has a return on equity (ROE) of -104.3%. Negative ROE indicates the company is unprofitable.

IGC Pharma, Inc. (IGC) had negative free cash flow of $5.9M in fiscal year 2025, likely due to heavy capital investments.

US Stock Screener

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IGC Pharma, Inc. (IGC) 10-Year Financial Performance & Capital Metrics

IGC • • Industrial / General

HealthcareBiotechnologyNeurology & CNS DisordersAlzheimer's & Neurodegenerative

Revenue $1M -5.5%
EBITDA -$7M +25.5%
Net Income -$7M +45.2%
EPS (Diluted) -0.09 +57.7%
Gross Margin 48.7% -10.6%
EBITDA Margin -537.21% +21.1%
Operating Margin -585.84% +19.6%
Net Margin -560.27% +42.0%
ROE -104.33% +10.8%
ROIC -88.4% -12.3%
Debt/Equity 0.04 -20.9%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 19 (bottom 19%)
✗Sales declining 20.8% over 5 years
✗Shares diluted 30.0% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-16.46%

5Y-20.77%

3Y47.38%

TTM-6.51%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM48.72%

EPS CAGR

10Y-

5Y-

3Y-

TTM57.93%

ROCE

10Y Avg-42.96%

5Y Avg-66.44%

3Y Avg-83.37%

Latest-105.98%

Peer Comparison

Alzheimer's & Neurodegenerative

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
ANVSAnnovis Bio, Inc.	84.81M	3.20	-0.00			-189.15%
CLNNClene Inc.	60.19M	5.11	-0.90	-47.71%	-142.5%	-17.38%
ABOSAcumen Pharmaceuticals, Inc.	112.67M	1.86	-1.09			-143.12%	0.16
BHVNBiohaven Ltd.	1.58B	11.92	-1.28			-198.83%	0.09
IKTInhibikase Therapeutics, Inc.	200.09M	1.65	-1.42	-100%		-65.37%	0.00
ALECAlector, Inc.	198.66M	1.82	-1.48	3.6%	-156.03%	-186.68%	0.34
CGTXCognition Therapeutics, Inc.	121.82M	1.38	-1.62			-76.61%	0.04
ATHEAlterity Therapeutics Limited	60M	3.31	-2.90	35.32%	-330.63%	-73.75%	0.00

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	6.37M	580.37K	2.19M	5.12M	4.07M	898K	397K	911K	1.34M	1.27M
Revenue Growth %	-0.17%	-0.91%	2.78%	1.33%	-0.2%	-0.78%	-0.56%	1.29%	0.48%	-0.06%
Cost of Goods Sold+	5.52M	362.13K	2.11M	4.98M	3.96M	1.25M	203K	1.07M	612K	652K
COGS % of Revenue	0.87%	0.62%	0.96%	0.97%	0.97%	1.39%	0.51%	1.17%	0.46%	0.51%
Gross Profit+	843.29K	218.24K	81.52K	132K	115K	-349K	194K	-158K	733K	619K
Gross Margin %	0.13%	0.38%	0.04%	0.03%	0.03%	-0.39%	0.49%	-0.17%	0.54%	0.49%
Gross Profit Growth %	0.45%	-0.74%	-0.63%	0.62%	-0.13%	-4.03%	1.56%	-1.81%	5.64%	-0.16%
Operating Expenses+	3.75M	2.27M	1.87M	4.78M	6.98M	8.38M	15.62M	11.41M	10.53M	8.06M
OpEx % of Revenue	0.59%	3.91%	0.85%	0.93%	1.71%	9.33%	39.35%	12.53%	7.83%	6.35%
Selling, General & Admin	2.7M	2.27M	1.87M	3.52M	5.97M	7.45M	13.29M	7.95M	6.76M	4.41M
SG&A % of Revenue	0.42%	3.91%	0.85%	0.69%	1.47%	8.29%	33.48%	8.73%	5.02%	3.47%
Research & Development	0	114K	137K	1.26M	1.01M	929K	2.33M	3.46M	3.77M	3.65M
R&D % of Revenue	-	0.2%	0.06%	0.25%	0.25%	1.03%	5.87%	3.8%	2.81%	2.88%
Other Operating Expenses	1.05M	119.93K	29.06K	0	0	0	0	0	0	0
Operating Income+	-2.91M	-2.05M	-1.79M	-4.64M	-6.86M	-8.72M	-15.43M	-11.57M	-9.8M	-7.45M
Operating Margin %	-0.46%	-3.54%	-0.82%	-0.91%	-1.69%	-9.71%	-38.86%	-12.7%	-7.28%	-5.86%
Operating Income Growth %	0.33%	0.29%	0.13%	-1.6%	-0.48%	-0.27%	-0.77%	0.25%	0.15%	0.24%
EBITDA+	-2.18M	-1.66M	-1.77M	-4.58M	-6.72M	-8.25M	-14.78M	-10.91M	-9.16M	-6.83M
EBITDA Margin %	-0.34%	-2.86%	-0.81%	-0.9%	-1.65%	-9.18%	-37.22%	-11.98%	-6.81%	-5.37%
EBITDA Growth %	0.39%	0.24%	-0.07%	-1.59%	-0.47%	-0.23%	-0.79%	0.26%	0.16%	0.25%
D&A (Non-Cash Add-back)	728.74K	396.35K	19.41K	59K	144K	478K	651K	657K	637K	618K
EBIT	-2.62M	-1.61M	-1.75M	-4.64M	-6.86M	-8.81M	-15.02M	-11.51M	-9.8M	-7.45M
Net Interest Income+	-212K	-101.79K	-26K	0	0	0	0	0	0	0
Interest Income	2.08K	121.68K	4.82K	0	0	0	0	0	0	0
Interest Expense	213.93K	223.46K	30.74K	0	0	0	0	0	0	0
Other Income/Expense	72.34K	215.96K	2.95K	548K	-451K	-87K	412K	65K	-3.2M	325K
Pretax Income+	-2.83M	-1.84M	-1.79M	-4.09M	-7.32M	-8.81M	-15.02M	-11.51M	-13M	-7.12M
Pretax Margin %	-0.44%	-3.17%	-0.81%	-0.8%	-1.8%	-9.81%	-37.82%	-12.63%	-9.67%	-5.6%
Income Tax+	579	14.43K	464	2K	0	0	0	0	0	0
Effective Tax Rate %	0.99%	1.02%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-2.81M	-1.87M	-1.79M	-4.1M	-7.32M	-8.81M	-15.02M	-11.51M	-13M	-7.12M
Net Margin %	-0.44%	-3.22%	-0.81%	-0.8%	-1.8%	-9.81%	-37.82%	-12.63%	-9.67%	-5.6%
Net Income Growth %	0.39%	0.34%	0.04%	-1.29%	-0.79%	-0.2%	-0.7%	0.23%	-0.13%	0.45%
Net Income (Continuing)	-2.83M	-1.85M	-1.79M	-4.1M	-7.32M	-8.81M	-15.02M	-11.51M	-13M	-7.12M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	472.06K	-8.84K	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.17	-0.07	-0.06	-0.12	-0.19	-0.21	-0.30	-0.22	-0.22	-0.09
EPS Growth %	0.45%	0.59%	0.14%	-1%	-0.58%	-0.11%	-0.43%	0.27%	0%	0.58%
EPS (Basic)	-0.17	-0.07	-0.06	-0.12	-0.19	-0.21	-0.30	-0.22	-0.22	-0.09
Diluted Shares Outstanding	16.39M	25.66M	27.94M	35.39M	39.49M	41.96M	49.99M	52.58M	58.84M	76.52M
Basic Shares Outstanding	16.39M	25.66M	27.94M	35.39M	39.49M	41.96M	49.99M	52.58M	58.84M	76.52M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	3.84M	3.58M	3.2M	26.72M	17.76M	23.52M	15.11M	6.47M	3.71M	2.9M
Cash & Short-Term Investments	1.49M	2.42M	1.66M	25.61M	12.34M	14.63M	10.46M	3.35M	1.2M	405K
Cash Only	1.49M	538.03K	1.66M	25.61M	7.26M	14.55M	10.46M	3.2M	1.2M	405K
Short-Term Investments	0	1.88M	0	0	5.08M	80K	0	154K	0	0
Accounts Receivable	962.66K	752.93K	557.81K	84K	133K	175K	597K	107K	39K	77K
Days Sales Outstanding	55.19	473.52	92.84	5.99	11.92	71.13	548.88	42.87	10.58	22.11
Inventory	162.09K	0	486.5K	248K	4.25M	7.18M	3.55M	2.65M	1.58M	1.36M
Days Inventory Outstanding	10.71	-	84.12	18.16	391.57	2.1K	6.38K	905.16	942.92	761.35
Other Current Assets	1.23M	0	502.14K	0	844K	1.38M	336K	96K	887K	1.04M
Total Non-Current Assets+	15.02M	7.7M	7.65M	7.74M	11.23M	12.35M	11.72M	10.71M	6.2M	5.85M
Property, Plant & Equipment	7.07M	953.94K	6.24M	5.89M	10.35M	11.33M	9.87M	8.54M	3.89M	3.32M
Fixed Asset Turnover	0.90x	0.61x	0.35x	0.87x	0.39x	0.08x	0.04x	0.11x	0.35x	0.38x
Goodwill	1.18M	198.17K	0	0	0	0	0	0	0	0
Intangible Assets	113.32K	0	127.83K	184K	252K	407K	917K	1.17M	1.62M	1.85M
Long-Term Investments	5.78M	6.01M	798.92K	794K	11K	12K	0	0	686K	680K
Other Non-Current Assets	507.3K	539.72K	484.56K	878K	610K	603K	937K	1M	2K	1K
Total Assets+	18.86M	11.28M	10.85M	34.47M	28.98M	35.87M	26.83M	17.18M	9.9M	8.75M
Asset Turnover	0.34x	0.05x	0.20x	0.15x	0.14x	0.03x	0.01x	0.05x	0.14x	0.15x
Asset Growth %	-0.07%	-0.4%	-0.04%	2.18%	-0.16%	0.24%	-0.25%	-0.36%	-0.42%	-0.12%
Total Current Liabilities+	3.2M	1.29M	2.35M	878K	1.95M	2.37M	2.44M	1.9M	2.34M	2.26M
Accounts Payable	330.63K	416.53K	52.27K	319K	762K	476K	981K	530K	773K	883K
Days Payables Outstanding	21.85	419.83	9.04	23.36	70.29	139.33	1.76K	180.96	461.02	494.32
Short-Term Debt	2.02M	0	1.8M	50K	50K	304K	3K	0	127K	0
Deferred Revenue (Current)	850.45K	0	0	474K	0	0	0	0	0	0
Other Current Liabilities	534	0	289.95K	-439K	182K	316K	1.33M	358K	624K	1.28M
Current Ratio	1.20x	2.78x	1.37x	30.44x	9.12x	9.93x	6.19x	3.41x	1.58x	1.28x
Quick Ratio	1.15x	2.78x	1.16x	30.15x	6.94x	6.90x	4.74x	2.01x	0.91x	0.68x
Cash Conversion Cycle	44.05	-	167.92	0.79	333.2	2.03K	5.16K	767.07	492.48	289.14
Total Non-Current Liabilities+	1.71M	2.64M	442.4K	15K	501K	696K	501K	369K	241K	160K
Long-Term Debt	801.47K	2.64M	427K	0	0	276K	144K	141K	137K	134K
Capital Lease Obligations	0	0	0	0	485K	405K	341K	207K	84K	10K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	910.58K	0	15.4K	15K	16K	15K	16K	21K	20K	16K
Total Liabilities	4.91M	3.93M	2.79M	893K	2.45M	3.06M	2.94M	2.27M	2.58M	2.42M
Total Debt+	2.82M	2.64M	2.23M	50K	624K	1.07M	611K	481K	348K	238K
Net Debt	1.33M	2.11M	569K	-25.56M	-6.63M	-13.47M	-9.85M	-2.71M	-850K	-167K
Debt / Equity	0.20x	0.36x	0.28x	0.00x	0.02x	0.03x	0.03x	0.03x	0.05x	0.04x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-13.58x	-9.19x	-58.19x	-	-	-	-	-	-	-
Total Equity+	13.95M	7.35M	8.06M	33.57M	26.54M	32.8M	23.89M	14.91M	7.32M	6.33M
Equity Growth %	-0.05%	-0.47%	0.1%	3.16%	-0.21%	0.24%	-0.27%	-0.38%	-0.51%	-0.14%
Book Value per Share	0.85	0.29	0.29	0.95	0.67	0.78	0.48	0.28	0.12	0.08
Total Shareholders' Equity	13.48M	7.36M	8.06M	33.57M	26.54M	32.8M	23.89M	14.91M	7.32M	6.33M
Common Stock	2.33K	2.83K	63.92M	94.04M	94.75M	109.72M	116.02M	118.97M	124.41M	130.57M
Retained Earnings	-50.14M	-52.01M	-53.8M	-58.05M	-65.37M	-74.14M	-89.16M	-100.67M	-113.67M	-120.74M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-2.27M	-2.05M	-2.06M	-2.42M	-2.85M	-2.77M	-2.97M	-3.39M	-3.42M	-3.5M
Minority Interest	472.06K	-8.84K	0	0	0	0	0	0	0	0

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	-157.7K	-1.39M	-1.93M	-3.33M	-8.68M	-10.8M	-7.46M	-7.05M	-5.2M	-4.79M
Operating CF Margin %	-0.02%	-2.4%	-0.88%	-0.65%	-2.13%	-12.03%	-18.8%	-7.74%	-3.87%	-3.77%
Operating CF Growth %	0.94%	-7.82%	-0.39%	-0.72%	-1.61%	-0.24%	0.31%	0.06%	0.26%	0.08%
Net Income	-2.83M	-1.85M	-1.79M	-4.1M	-7.32M	-8.81M	-15.02M	-11.51M	-13M	-7.12M
Depreciation & Amortization	728.74K	396.35K	19.41K	59K	144K	478K	651K	657K	637K	618K
Stock-Based Compensation	214.25K	203.2K	576.25K	610K	770K	658K	2.2M	2.84M	1.77M	1.64M
Deferred Taxes	579	18.97K	15.61K	0	0	0	0	-451K	0	0
Other Non-Cash Items	662.7K	-166.98K	-1.51K	-282K	782K	169K	2.17M	616K	3.5M	140K
Working Capital Changes	1.07M	10.25K	-754.58K	380K	-3.06M	-3.29M	2.54M	794K	1.89M	-72K
Change in Receivables	80.46K	-144.71K	-33.77K	474K	-49K	-42K	50K	5K	-25K	-8K
Change in Inventory	545.29K	-14.56K	-424.71K	239K	-4M	-1.23M	1.93M	897K	1.01M	180K
Change in Payables	-28.53K	191.04K	-12.54K	-140K	442K	-287K	504K	-451K	243K	106K
Cash from Investing+	-183.42K	-241.35K	-657.11K	-260K	-9.55M	3.39M	-742K	-235K	-317K	-442K
Capital Expenditures	-122.19K	-145.68K	-200.56K	-60K	-4.39M	-1.59M	-236K	-619K	-138K	-112K
CapEx % of Revenue	0.02%	0.25%	0.09%	0.01%	1.08%	1.77%	0.59%	0.68%	0.1%	0.09%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1.35K	-95.68K	-456.56K	-200K	-77K	-75K	-506K	538K	-179K	-330K
Cash from Financing+	1.01M	707.56K	3.71M	27.6M	-59K	14.69M	4.14M	100K	3.52M	4.45M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	-137.29K	190.91K	18K	0	0	0	0	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-279.89K	-1.54M	-2.13M	-3.39M	-13.14M	-12.39M	-8.23M	-7.67M	-5.71M	-5.28M
FCF Margin %	-0.04%	-2.65%	-0.97%	-0.66%	-3.23%	-13.8%	-20.74%	-8.41%	-4.25%	-4.15%
FCF Growth %	0.89%	-4.49%	-0.39%	-0.59%	-2.88%	0.06%	0.34%	0.07%	0.25%	0.08%
FCF per Share	-0.02	-0.06	-0.08	-0.10	-0.33	-0.30	-0.16	-0.15	-0.10	-0.07
FCF Conversion (FCF/Net Income)	0.06x	0.75x	1.08x	0.81x	1.19x	1.23x	0.50x	0.61x	0.40x	0.67x
Interest Paid	0	119.69K	0	0	8K	0	0	0	0	0
Taxes Paid	0	14.43K	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-19.57%	-17.53%	-23.17%	-19.68%	-24.34%	-29.7%	-52.97%	-59.3%	-116.95%	-104.33%
Return on Invested Capital (ROIC)	-13.34%	-12.46%	-14.83%	-41.84%	-36.88%	-33.35%	-69.34%	-66.15%	-78.73%	-88.4%
Gross Margin	13.24%	37.6%	3.72%	2.58%	2.82%	-38.86%	48.87%	-17.34%	54.5%	48.7%
Net Margin	-44.1%	-321.69%	-81.44%	-80.08%	-179.64%	-981.18%	-3782.37%	-1263.01%	-966.54%	-560.27%
Debt / Equity	0.20x	0.36x	0.28x	0.00x	0.02x	0.03x	0.03x	0.03x	0.05x	0.04x
Interest Coverage	-13.58x	-9.19x	-58.19x	-	-	-	-	-	-	-
FCF Conversion	0.06x	0.75x	1.08x	0.81x	1.19x	1.23x	0.50x	0.61x	0.40x	0.67x
Revenue Growth	-17.1%	-90.88%	277.86%	133.29%	-20.41%	-77.95%	-55.79%	129.47%	47.64%	-5.5%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Tolling White Labeling Service Member	-	-	-	-	-	-	-	382K	228K	1.16M
Tolling White Labeling Service Member Growth	-	-	-	-	-	-	-	-	-40.31%	407.89%
WellnessAndLifestyleMember	-	-	-	-	-	-	-	416K	953K	113K
WellnessAndLifestyleMember Growth	-	-	-	-	-	-	-	-	129.09%	-88.14%
Construction	-	-	-	-	-	-	-	76K	146K	-
Construction Growth	-	-	-	-	-	-	-	-	92.11%	-
Rental	-	-	-	-	-	-	-	37K	18K	-
Rental Growth	-	-	-	-	-	-	-	-	-51.35%	-
LegacyInfrastructureMember	-	-	-	-	3.66M	175K	1.2M	-	-	-
LegacyInfrastructureMember Growth	-	-	-	-	-	-95.22%	585.71%	-	-	-
PlantAndCannabinoidMember	-	-	-	-	411K	723K	-	-	-	-
PlantAndCannabinoidMember Growth	-	-	-	-	-	75.91%	-	-	-	-
Legacy Infrastructure	-	-	-	5.09M	-	-	-	-	-	-
Legacy Infrastructure Growth	-	-	-	-	-	-	-	-	-	-
Plant And Cannabinoid	-	-	-	25K	-	-	-	-	-	-
Plant And Cannabinoid Growth	-	-	-	-	-	-	-	-	-	-
Legacy Business	-	-	2.19M	-	-	-	-	-	-	-
Legacy Business Growth	-	-	-	-	-	-	-	-	-	-
Alternative Therapies	-	-	-	-	-	-	-	-	-	-
Alternative Therapies Growth	-	-	-	-	-	-	-	-	-	-
Rental Lease	114.75K	367.28K	-	-	-	-	-	-	-	-
Rental Lease Growth	-	220.07%	-	-	-	-	-	-	-	-
Trading Electronic Component	-	213.09K	-	-	-	-	-	-	-	-
Trading Electronic Component Growth	-	-	-	-	-	-	-	-	-	-
Trading	6.25M	-	-	-	-	-	-	-	-	-
Trading Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
UNITED STATES	-	-	-	-	-	-	-	777K	1.18M	1.27M
UNITED STATES Growth	-	-	-	-	-	-	-	-	51.74%	7.63%
COLOMBIA	-	-	-	-	-	-	-	21K	2K	2K
COLOMBIA Growth	-	-	-	-	-	-	-	-	-90.48%	0.00%
INDIA	114.75K	124.87K	-	-	-	-	-	113K	164K	-
INDIA Growth	-	8.82%	-	-	-	-	-	-	45.13%	-
North America	-	-	-	25K	411K	723K	-	-	-	-
North America Growth	-	-	-	-	1544.00%	75.91%	-	-	-	-
HONG KONG	6.25M	213.09K	1.8M	-	-	-	-	-	-	-
HONG KONG Growth	-	-96.59%	743.36%	-	-	-	-	-	-	-
Asia	-	-	395.44K	-	-	-	-	-	-	-
Asia Growth	-	-	-	-	-	-	-	-	-	-
MALAYSIA	-	242.41K	-	-	-	-	-	-	-	-
MALAYSIA Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

IGC Pharma, Inc. (IGC) reported $1.1M in revenue for fiscal year 2025. This represents a 74% decrease from $4.2M in 2012.

IGC Pharma, Inc. (IGC) saw revenue decline by 5.5% over the past year.

IGC Pharma, Inc. (IGC) reported a net loss of $6.4M for fiscal year 2025.

Dividend & Returns

IGC Pharma, Inc. (IGC) has a return on equity (ROE) of -104.3%. Negative ROE indicates the company is unprofitable.

IGC Pharma, Inc. (IGC) had negative free cash flow of $5.9M in fiscal year 2025, likely due to heavy capital investments.