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 ₹ 102
  • Dividend Yield 0.09 %
  • ROCE 0.93 %
  • ROE -9.42 %
  • Face Value ₹ 2.00
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Pros

  • Company's working capital requirements have reduced from 40.8 days to 21.3 days

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 8.25% over past five years.
  • Company has a low return on equity of -2.46% over last 3 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

Healthcare Healthcare Pharmaceuticals & Biotechnology Pharmaceuticals

Part of BSE Healthcare BSE 1000

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
428 426 482 459 450 431 433 411 390 440 485 445 476
363 365 410 397 401 384 392 399 391 422 442 414 426
Operating Profit 65 61 71 63 49 48 40 12 -1 18 43 32 50
OPM % 15% 14% 15% 14% 11% 11% 9% 3% -0% 4% 9% 7% 10%
0 0 4 -6 22 1 2 2 2 2 0 -5 4
Interest 9 8 8 10 12 14 18 16 18 26 25 26 46
Depreciation 18 20 21 24 26 28 29 29 29 30 32 32 32
Profit before tax 39 34 46 23 33 7 -5 -31 -46 -37 -14 -31 -25
Tax % 34% 29% 24% 31% 33% 74% 107% -8% -9% -1% -32% -6% -5%
26 24 35 16 22 2 -10 -28 -41 -36 -9 -29 -24
EPS in Rs 2.80 2.65 3.81 1.77 2.46 0.28 -1.04 -2.86 -4.38 -3.88 -0.86 -3.23 -2.34
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
854 1,005 1,071 1,041 968 1,107 1,242 1,541 1,669 1,817 1,665 1,845
689 834 914 906 892 983 1,017 1,213 1,381 1,572 1,565 1,704
Operating Profit 166 171 157 135 77 123 225 328 288 245 100 142
OPM % 19% 17% 15% 13% 8% 11% 18% 21% 17% 13% 6% 8%
2 1 4 5 6 2 3 2 1 20 6 0
Interest 11 12 6 24 21 26 22 14 25 38 66 122
Depreciation 47 61 63 68 72 71 73 79 71 92 114 126
Profit before tax 110 99 91 48 -9 29 132 237 193 136 -74 -107
Tax % 24% 17% 15% 15% -69% 16% 30% 35% 26% 29% 5% -7%
83 82 77 41 -3 24 93 155 142 97 -78 -99
EPS in Rs 8.99 8.89 8.36 4.47 -0.31 2.62 10.10 16.80 15.44 10.68 -7.99 -10.31
Dividend Payout % 18% 18% 19% 22% -95% 11% 15% 13% 15% 14% -2% -2%
Compounded Sales Growth
10 Years: 6%
5 Years: 8%
3 Years: 3%
TTM: 11%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -23%
Stock Price CAGR
10 Years: -1%
5 Years: -8%
3 Years: -14%
1 Year: -11%
Return on Equity
10 Years: 5%
5 Years: 5%
3 Years: -2%
Last Year: -9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 500 558 633 657 642 661 751 886 1,010 1,091 1,004 921
97 140 280 282 296 262 267 257 333 672 994 1,090
230 224 266 281 301 330 279 325 297 363 414 564
Total Liabilities 846 941 1,197 1,238 1,258 1,272 1,315 1,486 1,658 2,145 2,430 2,593
340 374 440 489 468 590 570 555 678 954 997 1,255
CWIP 63 55 91 136 185 51 68 122 114 125 321 28
Investments 0 16 0 0 0 0 0 0 2 9 1 1
443 496 666 613 605 631 677 809 864 1,057 1,111 1,309
Total Assets 846 941 1,197 1,238 1,258 1,272 1,315 1,486 1,658 2,145 2,430 2,593

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
109 112 89 123 132 123 82 174 179 155 95 192
-88 -111 -171 -135 -104 -56 -67 -121 -208 -432 -339 -102
-20 -2 132 -39 -16 -64 -30 -44 23 280 241 -77
Net Cash Flow 1 -0 50 -51 12 3 -14 8 -7 4 -3 14
Free Cash Flow 20 15 -100 -15 39 64 6 49 -27 -269 -257 91
CFO/OP 81% 82% 72% 98% 177% 103% 45% 66% 84% 75% 112% 140%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 69 74 73 74 69 69 70 77 82 77 97
Inventory Days 181 174 189 203 209 230 245 248 228 230 307 273
Days Payable 146 137 166 157 195 183 117 107 86 100 152 208
Cash Conversion Cycle 102 105 97 119 88 116 197 212 219 212 232 162
Working Capital Days 46 48 41 38 21 22 59 78 82 62 39 21
ROCE % 21% 17% 12% 7% 1% 6% 16% 23% 17% 10% -0% 1%

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 ・Standalone data

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

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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