Indoco Remedies Ltd

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

Indoco Remedies Ltd

₹ 225 -0.28%
15 May - close price
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 (48% of FY24 revenue)[1]
Indoco Remedies Ltd holds a strong foothold across various therapeutic categories, including Gastroenterology, Dentistry & Stomatology, Respiratory, Diabetology, Women's Health, Nutritional Products, Cardiology, Metabolic Disorders, and Primary Care medicines. In FY24, the domestic business crossed 1,280 Cr, ranking 31st in India (IQVIA MAT 2023-24). The company enjoys prescription patronage from over 240,000 prescribers, with 106 million prescriptions annually, and ranks 22nd in the Indian Pharmaceutical Market (IQVIA). It has 45 products ranking among the top 5 in their respective sub-segments.

Website BSE NSE
  • Market Cap ₹ 2,076 Cr.
  • Current Price ₹ 225
  • High / Low ₹ 350 / 162
  • Stock P/E
  • Book Value ₹ 119
  • Dividend Yield 0.09 %
  • ROCE 4.30 %
  • ROE -0.32 %
  • Face Value ₹ 2.00
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Pros

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 6.33% over past five years.
  • Company has a low return on equity of 2.88% over last 3 years.
  • Debtor days have increased from 96.8 to 117 days.

* 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

Healthcare Healthcare Pharmaceuticals & Biotechnology Pharmaceuticals

Part of BSE Healthcare BSE 1000

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
427 423 473 449 445 401 397 373 347 393 442 401 449
363 360 401 384 388 350 344 353 344 378 389 375 386
Operating Profit 64 63 72 65 57 52 53 20 3 15 53 26 63
OPM % 15% 15% 15% 15% 13% 13% 13% 5% 1% 4% 12% 6% 14%
0 0 1 -5 24 4 4 5 6 6 6 1 14
Interest 9 8 8 10 11 12 15 14 16 24 22 20 23
Depreciation 18 20 21 23 24 24 25 25 25 25 28 27 27
Profit before tax 38 36 44 27 46 20 17 -13 -31 -28 10 -20 28
Tax % 34% 27% 25% 26% 19% 23% 26% -23% -15% -1% -54% -2% 1%
25 26 33 20 38 15 13 -10 -26 -28 15 -20 27
EPS in Rs 2.75 2.81 3.60 2.17 4.07 1.62 1.39 -1.11 -2.84 -3.04 1.63 -2.17 2.96
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
851 1,005 1,072 1,038 968 1,106 1,240 1,540 1,667 1,791 1,518 1,686
686 834 915 903 891 982 1,016 1,212 1,380 1,532 1,389 1,529
Operating Profit 165 171 157 135 77 124 224 328 286 259 129 157
OPM % 19% 17% 15% 13% 8% 11% 18% 21% 17% 14% 8% 9%
2 1 4 5 6 2 3 2 1 19 19 27
Interest 10 12 6 24 21 26 22 14 25 37 57 88
Depreciation 47 61 63 68 72 71 73 79 71 88 98 107
Profit before tax 109 99 91 48 -9 29 131 236 192 153 -7 -11
Tax % 24% 17% 15% 15% -69% 16% 30% 35% 26% 24% 18% -51%
83 82 77 41 -3 24 92 155 141 117 -9 -6
EPS in Rs 8.99 8.93 8.41 4.47 -0.31 2.63 10.03 16.77 15.34 12.65 -0.95 -0.61
Dividend Payout % 18% 18% 19% 22% -97% 11% 15% 13% 15% 12% -21% -33%
Compounded Sales Growth
10 Years: 5%
5 Years: 6%
3 Years: 0%
TTM: 11%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 64%
Stock Price CAGR
10 Years: -1%
5 Years: -8%
3 Years: -14%
1 Year: -11%
Return on Equity
10 Years: 7%
5 Years: 8%
3 Years: 3%
Last Year: 0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 18 18 18 18 18 18 18 18 18 18 18 18
Reserves 500 558 633 657 643 662 750 886 1,009 1,108 1,085 1,081
94 139 280 282 296 262 258 257 333 514 754 760
229 224 266 280 301 330 289 327 300 320 344 506
Total Liabilities 842 939 1,197 1,238 1,258 1,272 1,317 1,488 1,660 1,961 2,201 2,365
339 373 440 489 468 590 570 555 661 732 754 913
CWIP 63 55 91 136 185 51 68 122 113 114 226 23
Investments 1 18 3 3 2 2 2 2 20 59 52 160
439 493 664 611 603 630 676 809 866 1,055 1,169 1,269
Total Assets 842 939 1,197 1,238 1,258 1,272 1,317 1,488 1,660 1,961 2,201 2,365

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
110 112 88 123 132 123 82 174 179 177 91 226
-88 -113 -171 -135 -104 -56 -67 -121 -209 -302 -260 -87
-21 0 132 -39 -16 -64 -30 -44 23 122 169 -133
Net Cash Flow 1 -0 50 -51 12 3 -14 8 -7 -3 -0 6
Free Cash Flow 21 15 -101 -15 39 64 6 49 -9 -1 -164 145
CFO/OP 81% 82% 71% 98% 177% 102% 46% 66% 84% 80% 83% 148%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 66 68 73 73 73 69 69 70 77 83 90 117
Inventory Days 179 173 188 204 209 230 245 248 228 207 299 235
Days Payable 145 137 167 158 195 184 119 108 89 79 121 190
Cash Conversion Cycle 100 103 95 119 88 115 195 210 217 211 267 162
Working Capital Days 46 48 40 38 21 21 59 77 81 64 60 47
ROCE % 21% 17% 12% 7% 1% 6% 16% 23% 17% 12% 3% 4%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Employee Strength
Number

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Research & Development (R&D) Spend as % of Sales
%
Number of Manufacturing Facilities
Number
Number of New Products Launched (Domestic/International)
Number
Sensodent-K Market Share in Sub-Segment
%
Market Share in Indian Pharmaceutical Market (IPM)
%
R&D Expenditure (Percentage of Turnover)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
58.73% 58.75% 58.75% 58.72% 58.76% 58.76% 58.80% 58.90% 58.90% 58.90% 58.90% 58.86%
1.58% 1.59% 1.69% 1.92% 1.48% 1.70% 1.25% 1.24% 1.22% 1.25% 1.10% 0.94%
17.93% 17.79% 19.56% 19.41% 18.67% 18.25% 18.91% 18.75% 18.96% 18.16% 18.15% 18.15%
21.75% 21.87% 20.00% 19.92% 21.07% 21.27% 21.02% 21.02% 20.82% 21.60% 21.76% 21.90%
0.00% 0.00% 0.00% 0.03% 0.03% 0.03% 0.03% 0.09% 0.09% 0.09% 0.09% 0.14%
No. of Shareholders 35,43136,58832,60033,20134,51134,41634,67634,49733,12933,31932,65932,276

* 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

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