Indoco Remedies Ltd

About

Indoco Remedies is engaged in the manufacturing and marketing of Formulations (Finished Dosage Forms) and Active Pharmaceutical Ingredients (APIs).(Source : 201903 Annual Report Page No: 33)

  • Market Cap 2,432 Cr.
  • Current Price 264
  • High / Low 296 / 140
  • Stock P/E 61.9
  • Book Value 73.8
  • Dividend Yield 0.11 %
  • ROCE 5.81 %
  • ROE 3.64 %
  • Face Value 2.00

Pros

Cons

  • Stock is trading at 3.58 times its book value
  • The company has delivered a poor growth of 5.38% over past five years.
  • Company has a low return on equity of 3.09% for last 3 years.
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
285 278 270 218 236 263 252 253 292 289 272 276
244 235 220 206 224 238 223 230 260 254 239 227
Operating Profit 41 43 49 12 12 25 29 23 32 35 33 49
OPM % 14% 16% 18% 5% 5% 9% 11% 9% 11% 12% 12% 18%
Other Income 2 1 1 0 0 1 5 1 1 1 0 0
Interest 7 2 8 7 5 4 5 6 5 7 8 6
Depreciation 17 17 16 17 18 18 19 17 18 18 18 19
Profit before tax 19 24 26 -12 -11 4 9 0 9 11 8 24
Tax % -4% 7% 21% 0% 26% -37% -24% -679% 21% 17% 31% 29%
Net Profit 20 23 20 -12 -8 5 12 2 7 9 5 17
EPS in Rs 2.14 2.46 2.22 -1.30 -0.85 0.58 1.26 0.24 0.80 1.01 0.59 1.87
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
355 402 480 568 629 726 851 1,005 1,072 1,038 968 1,106 1,129
308 348 412 483 536 606 686 834 915 903 891 982 980
Operating Profit 46 54 68 85 93 120 165 171 157 135 77 124 149
OPM % 13% 13% 14% 15% 15% 17% 19% 17% 15% 13% 8% 11% 13%
Other Income 4 4 6 2 1 2 2 1 4 5 6 2 2
Interest 6 3 4 16 22 19 10 12 6 24 21 26 26
Depreciation 11 12 13 19 24 31 47 61 63 68 72 71 73
Profit before tax 33 43 57 51 48 72 109 99 91 48 -9 29 53
Tax % 5% 2% 10% 10% 12% 20% 24% 17% 15% 15% 69% 16%
Net Profit 31 42 51 46 43 58 83 82 77 41 -3 24 39
EPS in Rs 3.42 4.58 5.56 5.04 4.63 6.28 8.99 8.93 8.41 4.47 -0.31 2.63 4.27
Dividend Payout % 21% 20% 19% 15% 24% 22% 18% 18% 19% 22% -97% 11%
Compounded Sales Growth
10 Years:11%
5 Years:5%
3 Years:1%
TTM:13%
Compounded Profit Growth
10 Years:-5%
5 Years:-22%
3 Years:-32%
TTM:246%
Stock Price CAGR
10 Years:15%
5 Years:-4%
3 Years:-1%
1 Year:71%
Return on Equity
10 Years:10%
5 Years:7%
3 Years:3%
Last Year:4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
12 12 12 12 18 18 18 18 18 18 18 18
Reserves 266 298 338 368 396 439 500 558 633 657 643 662
Borrowings 56 66 99 114 118 91 94 139 280 282 296 262
82 103 114 157 157 178 229 224 266 280 301 330
Total Liabilities 416 479 563 652 689 726 842 939 1,197 1,238 1,258 1,272
176 197 213 302 321 325 339 373 440 489 468 590
CWIP 16 31 53 33 38 44 63 55 91 136 185 51
Investments 0 0 0 0 0 0 1 18 3 3 2 2
223 251 298 317 330 356 439 493 664 611 603 630
Total Assets 416 479 563 652 689 726 842 939 1,197 1,238 1,258 1,272

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
38 48 38 59 69 100 110 112 88 123 132 123
-29 -47 -77 -64 -43 -41 -88 -113 -171 -135 -104 -56
4 7 24 -7 -26 -58 -21 0 132 -39 -16 -64
Net Cash Flow 13 9 -15 -12 -0 1 1 -0 50 -51 12 3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 12% 13% 15% 14% 14% 17% 21% 17% 12% 7% 1% 6%
Debtor Days 103 82 70 73 74 69 66 68 73 73 73 69
Inventory Turnover 3.44 3.14 3.02 2.89 2.87 2.86 2.51 2.38 2.19 1.97 1.85 1.87

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
58.85 58.87 58.87 58.87 58.83 58.68 58.68 58.69 58.69 58.69 58.69 58.69
5.99 4.46 4.52 2.12 2.12 2.12 2.10 2.06 2.02 1.97 2.00 2.22
11.57 12.09 10.36 12.85 14.09 14.77 15.19 14.79 15.18 15.56 14.54 14.67
0.06 0.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
23.53 24.52 26.26 26.16 24.96 24.44 24.04 24.46 24.11 23.78 24.77 24.42

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