Indoco Remedies Ltd
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]
- Market Cap ₹ 3,173 Cr.
- Current Price ₹ 344
- High / Low ₹ 417 / 286
- Stock P/E 47.4
- Book Value ₹ 120
- Dividend Yield 0.44 %
- ROCE 10.4 %
- ROE 8.33 %
- Face Value ₹ 2.00
Pros
Cons
- Company has a low return on equity of 13.5% over last 3 years.
- Company might be capitalizing the interest cost
- Dividend payout has been low at 14.0% of profits 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
Sector: Pharmaceuticals Industry: Pharmaceuticals - Indian - Bulk Drugs & Formln
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
629 | 731 | 854 | 1,005 | 1,071 | 1,041 | 968 | 1,107 | 1,242 | 1,541 | 1,669 | 1,817 | 1,822 | |
537 | 610 | 689 | 834 | 914 | 906 | 892 | 983 | 1,017 | 1,213 | 1,381 | 1,572 | 1,591 | |
Operating Profit | 93 | 120 | 166 | 171 | 157 | 135 | 77 | 123 | 225 | 328 | 288 | 245 | 231 |
OPM % | 15% | 16% | 19% | 17% | 15% | 13% | 8% | 11% | 18% | 21% | 17% | 13% | 13% |
1 | 2 | 2 | 1 | 4 | 5 | 6 | 2 | 3 | 2 | 1 | 20 | 22 | |
Interest | 22 | 19 | 11 | 12 | 6 | 24 | 21 | 26 | 22 | 14 | 25 | 38 | 45 |
Depreciation | 24 | 31 | 47 | 61 | 63 | 68 | 72 | 71 | 73 | 79 | 71 | 92 | 100 |
Profit before tax | 49 | 72 | 110 | 99 | 91 | 48 | -9 | 29 | 132 | 237 | 193 | 136 | 109 |
Tax % | 12% | 20% | 24% | 17% | 15% | 15% | -69% | 16% | 30% | 35% | 26% | 29% | |
43 | 58 | 83 | 82 | 77 | 41 | -3 | 24 | 93 | 155 | 142 | 97 | 75 | |
EPS in Rs | 4.64 | 6.29 | 8.99 | 8.89 | 8.36 | 4.47 | -0.31 | 2.62 | 10.10 | 16.80 | 15.44 | 10.68 | 8.32 |
Dividend Payout % | 24% | 22% | 18% | 18% | 19% | 22% | -95% | 11% | 15% | 13% | 15% | 14% |
Compounded Sales Growth | |
---|---|
10 Years: | 10% |
5 Years: | 13% |
3 Years: | 14% |
TTM: | 8% |
Compounded Profit Growth | |
---|---|
10 Years: | 4% |
5 Years: | 104% |
3 Years: | -2% |
TTM: | -48% |
Stock Price CAGR | |
---|---|
10 Years: | 2% |
5 Years: | 20% |
3 Years: | -9% |
1 Year: | 1% |
Return on Equity | |
---|---|
10 Years: | 11% |
5 Years: | 12% |
3 Years: | 13% |
Last Year: | 8% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 |
Reserves | 396 | 439 | 500 | 558 | 633 | 657 | 642 | 661 | 751 | 886 | 1,010 | 1,091 |
120 | 92 | 97 | 140 | 280 | 282 | 296 | 262 | 267 | 257 | 333 | 672 | |
157 | 180 | 230 | 224 | 266 | 281 | 301 | 330 | 279 | 325 | 297 | 363 | |
Total Liabilities | 692 | 729 | 846 | 941 | 1,197 | 1,238 | 1,258 | 1,272 | 1,315 | 1,486 | 1,658 | 2,145 |
322 | 325 | 340 | 374 | 440 | 489 | 468 | 590 | 570 | 555 | 678 | 954 | |
CWIP | 38 | 44 | 63 | 55 | 91 | 136 | 185 | 51 | 68 | 122 | 114 | 125 |
Investments | 0 | 0 | 0 | 16 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 9 |
332 | 360 | 443 | 496 | 666 | 613 | 605 | 631 | 677 | 809 | 864 | 1,057 | |
Total Assets | 692 | 729 | 846 | 941 | 1,197 | 1,238 | 1,258 | 1,272 | 1,315 | 1,486 | 1,658 | 2,145 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
69 | 99 | 109 | 112 | 89 | 123 | 132 | 123 | 82 | 174 | 179 | 157 | |
-43 | -41 | -88 | -111 | -171 | -135 | -104 | -56 | -67 | -121 | -208 | -433 | |
-24 | -59 | -20 | -2 | 132 | -39 | -16 | -64 | -30 | -44 | 23 | 280 | |
Net Cash Flow | 2 | -1 | 1 | -0 | 50 | -51 | 12 | 3 | -14 | 8 | -7 | 4 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 74 | 69 | 66 | 69 | 74 | 73 | 74 | 69 | 69 | 70 | 77 | 82 |
Inventory Days | 130 | 148 | 181 | 174 | 189 | 203 | 209 | 230 | 245 | 248 | 228 | 230 |
Days Payable | 95 | 95 | 146 | 137 | 166 | 157 | 195 | 183 | 117 | 107 | 86 | 100 |
Cash Conversion Cycle | 108 | 122 | 102 | 105 | 97 | 119 | 88 | 116 | 197 | 212 | 219 | 212 |
Working Capital Days | 74 | 73 | 78 | 80 | 81 | 77 | 64 | 57 | 107 | 113 | 120 | 124 |
ROCE % | 17% | 21% | 17% | 12% | 7% | 1% | 6% | 16% | 23% | 17% | 10% |
Documents
Announcements
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
1d - Certificate issued by Link Intime India Private Ltd, Registrar and Transfer Agent of the Company, confirming compliance under Regulation 74(5) of SEBI (Depositories and Participants) …
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
4 Oct - Indoco receives USFDA approval for Cetirizine Hydrochloride Tablets.
- Closure of Trading Window 27 Sep
- Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 27 Sep
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Shareholder Meeting / Postal Ballot-Outcome of AGM
26 Sep - Proceedings of 77th Annual General Meeting held on 26th September 2024.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Concalls
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Jul 2024TranscriptPPT
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Jun 2024Transcript PPT REC
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Jan 2024TranscriptPPT
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Oct 2023TranscriptPPT
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Jul 2023TranscriptPPT
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May 2023TranscriptPPT
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Nov 2022TranscriptPPT
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Feb 2022TranscriptPPT
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Nov 2021TranscriptPPT
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Nov 2020TranscriptPPT
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Jun 2020TranscriptPPT
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Oct 2019TranscriptPPT
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Aug 2019TranscriptPPT
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May 2019TranscriptPPT
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Jan 2019TranscriptPPT
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Nov 2018TranscriptPPT
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Aug 2018TranscriptPPT
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