Indoco Remedies Ltd

Indoco Remedies Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Indoco Remedies Ltd

₹ 332 -0.52%
06 Jun 2:00 p.m.
indoco.com BSE: 532612 NSE : INDOCO
About

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]

Key Points

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

Website BSE NSE
  • Market Cap ₹ 3,056 Cr.
  • Current Price ₹ 332
  • High / Low ₹ 424 / 306
  • Stock P/E 21.6
  • Book Value ₹ 111
  • Dividend Yield 0.45 %
  • ROCE 17.2 %
  • ROE 14.6 %
  • Face Value ₹ 2.00
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Pros

  • Company has delivered good profit growth of 28.7% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 9.93% over past five years.

* 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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
272 276 328 332 305 386 387 358 409 408 433 399 427
239 227 267 272 250 300 300 284 328 337 345 337 363
Operating Profit 33 49 60 60 55 87 86 73 80 71 88 62 64
OPM % 12% 18% 18% 18% 18% 22% 22% 21% 20% 17% 20% 15% 15%
0 0 1 0 2 1 1 0 0 1 0 0 0
Interest 8 6 6 6 5 4 3 4 3 4 5 7 9
Depreciation 18 19 19 17 19 22 19 19 18 20 16 17 18
Profit before tax 8 24 36 37 33 61 65 51 60 48 67 38 38
Tax % 31% 29% 31% 33% 26% 35% 36% 35% 32% 20% 26% 26% 34%
Net Profit 5 17 25 25 25 40 42 33 40 38 50 28 25
EPS in Rs 0.59 1.87 2.72 2.73 2.70 4.30 4.51 3.58 4.38 4.17 5.39 3.02 2.75
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
568 629 726 851 1,005 1,072 1,038 968 1,106 1,240 1,540 1,667
483 536 606 686 834 915 903 891 982 1,016 1,212 1,382
Operating Profit 85 93 120 165 171 157 135 77 124 224 328 285
OPM % 15% 15% 17% 19% 17% 15% 13% 8% 11% 18% 21% 17%
2 1 2 2 1 4 5 6 2 3 2 2
Interest 16 22 19 10 12 6 24 21 26 22 14 25
Depreciation 19 24 31 47 61 63 68 72 71 73 79 71
Profit before tax 51 48 72 109 99 91 48 -9 29 131 236 192
Tax % 10% 12% 20% 24% 17% 15% 15% 69% 16% 30% 35% 26%
Net Profit 46 43 58 83 82 77 41 -3 24 92 155 141
EPS in Rs 5.04 4.63 6.28 8.99 8.93 8.41 4.47 -0.31 2.63 10.03 16.77 15.34
Dividend Payout % 15% 24% 22% 18% 18% 19% 22% -97% 11% 15% 13% 15%
Compounded Sales Growth
10 Years: 10%
5 Years: 10%
3 Years: 15%
TTM: 8%
Compounded Profit Growth
10 Years: 13%
5 Years: 29%
3 Years: 80%
TTM: -9%
Stock Price CAGR
10 Years: 18%
5 Years: 12%
3 Years: 14%
1 Year: -12%
Return on Equity
10 Years: 11%
5 Years: 11%
3 Years: 15%
Last Year: 15%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
12 18 18 18 18 18 18 18 18 18 18 18
Reserves 368 396 439 500 558 633 657 643 662 750 886 1,009
114 118 91 94 139 280 282 296 262 267 257 333
157 157 178 229 224 266 280 301 330 281 327 300
Total Liabilities 652 689 726 842 939 1,197 1,238 1,258 1,272 1,317 1,488 1,660
302 321 325 339 373 440 489 468 590 570 555 720
CWIP 33 38 44 63 55 91 136 185 51 68 122 54
Investments 0 0 0 1 18 3 3 2 2 2 2 20
317 330 356 439 493 664 611 603 630 676 809 866
Total Assets 652 689 726 842 939 1,197 1,238 1,258 1,272 1,317 1,488 1,660

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
59 69 100 110 112 88 123 132 123 82 174 176
-64 -43 -41 -88 -113 -171 -135 -104 -56 -67 -121 -205
-7 -26 -58 -21 0 132 -39 -16 -64 -30 -44 23
Net Cash Flow -12 -0 1 1 -0 50 -51 12 3 -14 8 -7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 73 74 69 66 68 73 73 73 69 69 70 77
Inventory Days 152 129 147 179 173 188 204 209 230 245 248 228
Days Payable 114 95 94 145 137 167 158 195 184 119 108 89
Cash Conversion Cycle 111 108 122 100 103 95 119 88 115 195 210 217
Working Capital Days 71 74 73 77 79 80 77 64 56 107 113 119
ROCE % 14% 14% 17% 21% 17% 12% 7% 1% 6% 16% 23% 17%

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
58.69 58.69 58.69 58.69 58.69 58.69 58.69 58.69 58.69 58.68 58.68 58.69
2.00 2.22 2.88 2.66 2.29 2.43 1.62 1.15 1.17 1.19 1.23 1.55
14.54 14.67 17.11 19.26 19.28 17.69 17.78 18.27 18.07 17.97 18.07 18.06
24.77 24.42 21.32 19.39 19.74 21.19 21.91 21.89 22.07 22.16 22.00 21.69

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

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