Indoco Remedies Ltd
Indoco Remedies (Indoco) is a Mumbai-based pharmaceutical company that focuses on formulations with a presence in contract manufacturing and research. The Company is engaged in the manufacturing and marketing of pharmaceutical Formulations (Finished Dosage Forms) and Active Pharmaceutical Ingredients (APIs).[1]
- Market Cap ₹ 3,093 Cr.
- Current Price ₹ 336
- High / Low ₹ 426 / 308
- Stock P/E 19.8
- Book Value ₹ 105
- Dividend Yield 0.45 %
- ROCE 22.8 %
- ROE 18.5 %
- Face Value ₹ 2.00
Pros
Cons
- Company has a low return on equity of 12.2% over last 3 years.
- Company might be capitalizing the interest cost
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Pharmaceuticals Industry: Pharmaceuticals - Indian - Bulk Drugs & Formln
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
480 | 568 | 629 | 726 | 851 | 1,005 | 1,072 | 1,038 | 968 | 1,106 | 1,240 | 1,540 | 1,648 | |
412 | 483 | 536 | 606 | 686 | 834 | 915 | 903 | 891 | 982 | 1,016 | 1,212 | 1,347 | |
Operating Profit | 68 | 85 | 93 | 120 | 165 | 171 | 157 | 135 | 77 | 124 | 224 | 328 | 301 |
OPM % | 14% | 15% | 15% | 17% | 19% | 17% | 15% | 13% | 8% | 11% | 18% | 21% | 18% |
6 | 2 | 1 | 2 | 2 | 1 | 4 | 5 | 6 | 2 | 3 | 2 | 2 | |
Interest | 4 | 16 | 22 | 19 | 10 | 12 | 6 | 24 | 21 | 26 | 22 | 14 | 19 |
Depreciation | 13 | 19 | 24 | 31 | 47 | 61 | 63 | 68 | 72 | 71 | 73 | 79 | 71 |
Profit before tax | 57 | 51 | 48 | 72 | 109 | 99 | 91 | 48 | -9 | 29 | 131 | 236 | 213 |
Tax % | 10% | 10% | 12% | 20% | 24% | 17% | 15% | 15% | 69% | 16% | 30% | 35% | |
Net Profit | 51 | 46 | 43 | 58 | 83 | 82 | 77 | 41 | -3 | 24 | 92 | 155 | 156 |
EPS in Rs | 5.56 | 5.04 | 4.63 | 6.28 | 8.99 | 8.93 | 8.41 | 4.47 | -0.31 | 2.63 | 10.03 | 16.77 | 16.96 |
Dividend Payout % | 19% | 15% | 24% | 22% | 18% | 18% | 19% | 22% | -97% | 11% | 15% | 13% |
Compounded Sales Growth | |
---|---|
10 Years: | 11% |
5 Years: | 8% |
3 Years: | 17% |
TTM: | 15% |
Compounded Profit Growth | |
---|---|
10 Years: | 13% |
5 Years: | 15% |
3 Years: | 293% |
TTM: | 12% |
Stock Price CAGR | |
---|---|
10 Years: | 19% |
5 Years: | 5% |
3 Years: | 14% |
1 Year: | -13% |
Return on Equity | |
---|---|
10 Years: | 11% |
5 Years: | 9% |
3 Years: | 12% |
Last Year: | 19% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
12 | 12 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | |
Reserves | 338 | 368 | 396 | 439 | 500 | 558 | 633 | 657 | 643 | 662 | 750 | 886 | 951 |
99 | 114 | 118 | 91 | 94 | 139 | 280 | 282 | 296 | 262 | 267 | 257 | 299 | |
114 | 157 | 157 | 178 | 229 | 224 | 266 | 280 | 301 | 330 | 281 | 327 | 396 | |
Total Liabilities | 563 | 652 | 689 | 726 | 842 | 939 | 1,197 | 1,238 | 1,258 | 1,272 | 1,317 | 1,488 | 1,664 |
213 | 302 | 321 | 325 | 339 | 373 | 440 | 489 | 468 | 590 | 570 | 555 | 637 | |
CWIP | 53 | 33 | 38 | 44 | 63 | 55 | 91 | 136 | 185 | 51 | 68 | 122 | 74 |
Investments | 0 | 0 | 0 | 0 | 1 | 18 | 3 | 3 | 2 | 2 | 2 | 2 | 17 |
298 | 317 | 330 | 356 | 439 | 493 | 664 | 611 | 603 | 630 | 676 | 809 | 935 | |
Total Assets | 563 | 652 | 689 | 726 | 842 | 939 | 1,197 | 1,238 | 1,258 | 1,272 | 1,317 | 1,488 | 1,664 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
38 | 59 | 69 | 100 | 110 | 112 | 88 | 123 | 132 | 123 | 82 | 174 | |
-77 | -64 | -43 | -41 | -88 | -113 | -171 | -135 | -104 | -56 | -67 | -121 | |
24 | -7 | -26 | -58 | -21 | 0 | 132 | -39 | -16 | -64 | -30 | -44 | |
Net Cash Flow | -15 | -12 | -0 | 1 | 1 | -0 | 50 | -51 | 12 | 3 | -14 | 8 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 70 | 73 | 74 | 69 | 66 | 68 | 73 | 73 | 73 | 69 | 69 | 70 |
Inventory Days | 141 | 152 | 129 | 147 | 179 | 173 | 188 | 204 | 209 | 230 | 245 | 248 |
Days Payable | 82 | 114 | 95 | 94 | 145 | 137 | 167 | 158 | 195 | 184 | 119 | 108 |
Cash Conversion Cycle | 129 | 111 | 108 | 122 | 100 | 103 | 95 | 119 | 88 | 115 | 195 | 210 |
Working Capital Days | 79 | 71 | 74 | 73 | 77 | 79 | 80 | 77 | 64 | 56 | 107 | 113 |
ROCE % | 15% | 14% | 14% | 17% | 21% | 17% | 12% | 7% | 1% | 6% | 16% | 23% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2d - Read with Schedule III of the SEBI (LODR) Regulations, 2015, we are enclosing schedule for the Investor Call/ Institutional Investors Conference/Meetings.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2 Feb - Read with Schedule III of the SEBI (LODR) Regulations, 2015, we are enclosing schedule for the Investor Call/ Institutional Investors Conference/Meetings.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
31 Jan - Transcript of Earnings Conference Call for the quarter and nine months ended 31st December, 2022
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Announcement under Regulation 30 (LODR)-Newspaper Publication
25 Jan - Newspaper publication of Unaudited Standalone and Consolidated Financial Results for the quarter and nine months ended 31st December 2022
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
25 Jan - Audio recording of earnings conference call for the quarter and nine months ended 31st December, 2022
Annual reports
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Concalls
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Jan 2023TranscriptPPT
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Nov 2022TranscriptPPT
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Feb 2022TranscriptPPT
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Nov 2021TranscriptPPT
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Aug 2021TranscriptPPT
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May 2021TranscriptPPT
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Nov 2020TranscriptPPT
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Aug 2020TranscriptPPT
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Oct 2019TranscriptPPT
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Aug 2019TranscriptPPT
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May 2019TranscriptPPT
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Jan 2019TranscriptPPT
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Nov 2018TranscriptPPT
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Aug 2018TranscriptPPT
Business segments
A) Domestic Formulations (41% of FY22 revenue)[1] Company offers high-quality medicines in multiple therapeutic categories, which include diabetology, respiratory, stomatology, women's health, nutritional products, gastroenterology, cardiology, metabolic disorders, and primary care medicines.
The Company has a predominant presence in the South (37%) and West (33%), followed by the East (17%) and North (12%). The Company caters to multiple doctor specialties and generates more than 83 million prescriptions annually from over 3,00,000 doctors across India