Indoco Remedies Ltd

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

Indoco Remedies Ltd

₹ 325 -0.43%
29 Mar - 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 (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 ₹ 3,003 Cr.
  • Current Price ₹ 325
  • High / Low ₹ 424 / 308
  • Stock P/E 19.1
  • Book Value ₹ 105
  • Dividend Yield 0.46 %
  • ROCE 22.9 %
  • ROE 18.5 %
  • Face Value ₹ 2.00
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Pros

Cons

  • Company has a low return on equity of 12.2% over last 3 years.
  • Company might be capitalizing the interest cost

* 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

Consolidated Figures in Rs. Crores / View Standalone

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
289 272 276 328 332 305 387 387 358 409 408 433 399
254 239 227 268 272 250 300 300 285 329 337 345 337
Operating Profit 35 33 49 61 60 55 87 86 73 81 71 88 62
OPM % 12% 12% 18% 18% 18% 18% 22% 22% 21% 20% 18% 20% 16%
1 0 0 1 0 2 1 1 0 0 1 0 0
Interest 7 8 6 6 6 5 4 3 4 3 4 5 7
Depreciation 18 18 19 19 17 19 22 19 19 18 20 16 17
Profit before tax 11 8 24 37 38 34 61 65 51 60 48 67 38
Tax % 18% 31% 29% 30% 33% 26% 35% 36% 35% 32% 20% 26% 26%
Net Profit 9 5 17 26 25 25 40 42 33 40 39 50 28
EPS in Rs 0.99 0.58 1.85 2.78 2.75 2.71 4.30 4.52 3.58 4.39 4.19 5.40 3.05
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Jun 2005 Jun 2006 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
193 241 629 731 854 1,005 1,071 1,041 968 1,107 1,242 1,541 1,650
153 198 537 610 689 834 914 906 892 983 1,017 1,213 1,348
Operating Profit 40 43 93 120 166 171 157 135 77 123 225 328 302
OPM % 21% 18% 15% 16% 19% 17% 15% 13% 8% 11% 18% 21% 18%
5 12 1 2 2 1 4 5 6 2 3 2 2
Interest 4 6 22 19 11 12 6 24 21 26 22 14 19
Depreciation 4 6 24 31 47 61 63 68 72 71 73 79 71
Profit before tax 37 43 49 72 110 99 91 48 -9 29 132 237 214
Tax % 32% 27% 12% 20% 24% 17% 15% 15% 69% 16% 30% 35%
Net Profit 25 31 43 58 83 82 77 41 -3 24 93 155 157
EPS in Rs 2.83 3.56 4.64 6.29 8.99 8.89 8.36 4.47 -0.31 2.62 10.10 16.80 17.03
Dividend Payout % 24% 23% 24% 22% 18% 18% 19% 22% -95% 11% 15% 13%
Compounded Sales Growth
10 Years: %
5 Years: 8%
3 Years: 17%
TTM: 15%
Compounded Profit Growth
10 Years: %
5 Years: 15%
3 Years: 290%
TTM: 13%
Stock Price CAGR
10 Years: 19%
5 Years: 9%
3 Years: 21%
1 Year: -11%
Return on Equity
10 Years: %
5 Years: 9%
3 Years: 12%
Last Year: 19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Jun 2005 Jun 2006 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
12 12 18 18 18 18 18 18 18 18 18 18 18
Reserves 163 187 396 439 500 558 633 657 642 661 751 886 952
50 36 120 92 97 140 280 282 296 262 267 257 299
60 76 157 180 230 224 266 281 301 330 279 325 396
Total Liabilities 285 311 692 729 846 941 1,197 1,238 1,258 1,272 1,315 1,486 1,665
83 139 322 325 340 374 440 489 468 590 570 555 654
CWIP 13 5 38 44 63 55 91 136 185 51 68 122 74
Investments 40 6 0 0 0 16 0 0 0 0 0 0 0
149 161 332 360 443 496 666 613 605 631 677 809 937
Total Assets 285 311 692 729 846 941 1,197 1,238 1,258 1,272 1,315 1,486 1,665

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Jun 2005 Jun 2006 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
6 37 69 99 109 112 89 123 132 123 82 174
-90 -16 -43 -41 -88 -111 -171 -135 -104 -56 -67 -121
94 -25 -24 -59 -20 -2 132 -39 -16 -64 -30 -44
Net Cash Flow 11 -3 2 -1 1 -0 50 -51 12 3 -14 8

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Jun 2005 Jun 2006 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 140 127 74 69 66 69 74 73 74 69 69 70
Inventory Days 138 127 130 148 181 174 189 203 209 230 245 248
Days Payable 156 147 95 95 146 137 166 157 195 183 117 107
Cash Conversion Cycle 122 107 108 122 102 105 97 119 88 116 197 212
Working Capital Days 130 116 74 73 78 80 81 77 64 57 107 113
ROCE % 20% 17% 21% 17% 12% 7% 1% 6% 16% 23%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
58.69 58.69 58.69 58.69 58.69 58.69 58.69 58.69 58.69 58.69 58.68 58.68
1.97 2.00 2.22 2.88 2.66 2.29 2.43 1.62 1.15 1.17 1.19 1.23
15.56 14.54 14.67 17.11 19.26 19.28 17.69 17.78 18.27 18.07 17.97 18.07
23.78 24.77 24.42 21.32 19.39 19.74 21.19 21.91 21.89 22.07 22.16 22.00

* 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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