Indoco Remedies Ltd

About [ edit ]

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 3,307 Cr.
  • Current Price 359
  • High / Low 378 / 190
  • Stock P/E 45.0
  • Book Value 78.1
  • Dividend Yield 0.08 %
  • ROCE 5.80 %
  • ROE 3.63 %
  • Face Value 2.00

Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 4.60 times its book value
  • The company has delivered a poor sales growth of 5.31% over past five years.
  • Company has a low return on equity of 3.08% for last 3 years.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
74 218 236 263 252 253 293 289 272 276 328 332
66 206 224 238 224 230 260 254 239 227 268 272
Operating Profit 7 11 12 25 28 22 33 35 33 49 61 60
OPM % 10% 5% 5% 9% 11% 9% 11% 12% 12% 18% 18% 18%
Other Income 0 0 0 1 5 1 1 1 0 0 1 0
Interest 2 7 5 4 5 6 5 7 8 6 6 6
Depreciation 2 17 18 18 19 17 18 18 18 19 19 17
Profit before tax 3 -12 -10 4 9 -0 10 11 8 24 37 38
Tax % 34% 0% 27% -38% -24% 3,183% 20% 18% 31% 29% 30% 33%
Net Profit 2 -12 -7 5 11 2 8 9 5 17 26 25
EPS in Rs 0.24 -1.32 -0.81 0.57 1.25 0.20 0.85 0.99 0.58 1.85 2.78 2.75

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Jun 2006 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
241 629 731 854 1,005 1,071 1,041 968 1,107 1,208
196 537 610 689 834 915 906 892 983 1,006
Operating Profit 45 93 120 166 171 156 135 77 123 203
OPM % 19% 15% 16% 19% 17% 15% 13% 8% 11% 17%
Other Income 10 1 2 2 1 4 5 6 2 2
Interest 6 22 19 11 12 6 24 21 26 26
Depreciation 6 24 31 47 61 63 68 72 71 73
Profit before tax 43 49 72 110 99 91 48 -9 29 106
Tax % 27% 12% 20% 24% 17% 15% 15% 69% 16%
Net Profit 31 43 58 83 82 77 41 -3 24 73
EPS in Rs 3.56 4.64 6.29 8.99 8.89 8.36 4.47 -0.31 2.62 7.96
Dividend Payout % 23% 24% 22% 18% 18% 19% 22% -95% 11%
Compounded Sales Growth
10 Years:%
5 Years:5%
3 Years:1%
TTM:11%
Compounded Profit Growth
10 Years:%
5 Years:-22%
3 Years:-32%
TTM:143%
Stock Price CAGR
10 Years:20%
5 Years:6%
3 Years:23%
1 Year:56%
Return on Equity
10 Years:%
5 Years:7%
3 Years:3%
Last Year:4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Jun 2006 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
12 18 18 18 18 18 18 18 18 18
Reserves 187 396 439 500 558 633 657 642 661 701
Borrowings 36 120 92 97 140 280 282 296 262 209
76 157 180 230 224 266 281 301 330 442
Total Liabilities 311 692 729 846 941 1,197 1,238 1,258 1,272 1,370
139 322 325 340 374 440 489 468 590 601
CWIP 5 38 44 63 55 91 136 185 51 12
Investments 6 0 0 0 16 0 0 0 0 0
161 332 360 443 496 666 613 605 631 757
Total Assets 311 692 729 846 941 1,197 1,238 1,258 1,272 1,370

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Jun 2006 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
37 69 99 109 112 89 123 132 123
-16 -43 -41 -88 -111 -171 -135 -104 -56
-25 -24 -59 -20 -2 132 -39 -16 -64
Net Cash Flow -3 2 -1 1 -0 50 -51 12 3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Jun 2006 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 17% 21% 17% 12% 7% 1% 6%
Debtor Days 127 74 69 66 69 74 73 74 69
Inventory Turnover 2.85 2.47 2.35 2.17 1.97 1.85 1.86

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
58.87 58.87 58.83 58.68 58.68 58.69 58.69 58.69 58.69 58.69 58.69 58.69
4.52 2.12 2.12 2.12 2.10 2.06 2.02 1.97 2.00 2.22 2.88 2.66
10.36 12.85 14.09 14.77 15.19 14.79 15.18 15.56 14.54 14.67 17.11 19.26
26.26 26.16 24.96 24.44 24.04 24.46 24.11 23.78 24.77 24.42 21.32 19.39

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