Indoco Remedies Ltd

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

Indoco Remedies Ltd

₹ 220 0.71%
17 Mar 4:01 p.m.
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 ₹ 2,032 Cr.
  • Current Price ₹ 220
  • High / Low ₹ 388 / 190
  • Stock P/E 52.2
  • Book Value ₹ 124
  • Dividend Yield 0.68 %
  • ROCE 11.9 %
  • ROE 10.0 %
  • Face Value ₹ 2.00
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Pros

Cons

  • Company has low interest coverage ratio.
  • Dividend payout has been low at 13.3% 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

Part of BSE Allcap BSE Healthcare BSE SmallCap

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024
358 409 408 433 399 427 423 473 449 445 401 397 373
284 328 337 345 337 363 360 401 384 388 350 344 353
Operating Profit 73 80 71 88 62 64 63 72 65 57 52 53 20
OPM % 21% 20% 17% 20% 15% 15% 15% 15% 15% 13% 13% 13% 5%
0 0 1 0 0 0 0 1 -5 24 4 4 5
Interest 4 3 4 5 7 9 8 8 10 11 12 15 14
Depreciation 19 18 20 16 17 18 20 21 23 24 24 25 25
Profit before tax 51 60 48 67 38 38 36 44 27 46 20 17 -13
Tax % 35% 32% 20% 26% 26% 34% 27% 25% 26% 19% 23% 26% -23%
33 40 38 50 28 25 26 33 20 38 15 13 -10
EPS in Rs 3.58 4.38 4.17 5.39 3.02 2.75 2.81 3.60 2.17 4.07 1.62 1.39 -1.11
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
629 726 851 1,005 1,072 1,038 968 1,106 1,240 1,540 1,667 1,791 1,616
536 606 686 834 915 903 891 982 1,016 1,212 1,380 1,532 1,434
Operating Profit 93 120 165 171 157 135 77 124 224 328 286 259 182
OPM % 15% 17% 19% 17% 15% 13% 8% 11% 18% 21% 17% 14% 11%
1 2 2 1 4 5 6 2 3 2 1 19 37
Interest 22 19 10 12 6 24 21 26 22 14 25 37 52
Depreciation 24 31 47 61 63 68 72 71 73 79 71 88 97
Profit before tax 48 72 109 99 91 48 -9 29 131 236 192 153 70
Tax % 12% 20% 24% 17% 15% 15% -69% 16% 30% 35% 26% 24%
43 58 83 82 77 41 -3 24 92 155 141 117 55
EPS in Rs 4.63 6.28 8.99 8.93 8.41 4.47 -0.31 2.63 10.03 16.77 15.34 12.65 5.97
Dividend Payout % 24% 22% 18% 18% 19% 22% -97% 11% 15% 13% 15% 12%
Compounded Sales Growth
10 Years: 9%
5 Years: 13%
3 Years: 13%
TTM: -9%
Compounded Profit Growth
10 Years: 6%
5 Years: 112%
3 Years: 5%
TTM: -65%
Stock Price CAGR
10 Years: -5%
5 Years: 5%
3 Years: -18%
1 Year: -33%
Return on Equity
10 Years: 11%
5 Years: 12%
3 Years: 14%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 18 18 18 18 18 18 18 18 18 18 18 18 18
Reserves 396 439 500 558 633 657 643 662 750 886 1,009 1,108 1,123
118 91 94 139 280 282 296 262 267 257 333 514 630
157 178 229 224 266 280 301 330 281 327 300 320 428
Total Liabilities 689 726 842 939 1,197 1,238 1,258 1,272 1,317 1,488 1,660 1,961 2,199
321 325 339 373 440 489 468 590 570 555 661 732 769
CWIP 38 44 63 55 91 136 185 51 68 122 113 114 162
Investments 0 0 1 18 3 3 2 2 2 2 20 59 65
330 356 439 493 664 611 603 630 676 809 866 1,055 1,203
Total Assets 689 726 842 939 1,197 1,238 1,258 1,272 1,317 1,488 1,660 1,961 2,199

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
69 100 110 112 88 123 132 123 82 174 179 177
-43 -41 -88 -113 -171 -135 -104 -56 -67 -121 -209 -302
-26 -58 -21 0 132 -39 -16 -64 -30 -44 23 122
Net Cash Flow -0 1 1 -0 50 -51 12 3 -14 8 -7 -3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 68 73 73 73 69 69 70 77 83
Inventory Days 129 147 179 173 188 204 209 230 245 248 228 207
Days Payable 95 94 145 137 167 158 195 184 119 108 89 79
Cash Conversion Cycle 108 122 100 103 95 119 88 115 195 210 217 211
Working Capital Days 74 73 77 79 80 77 64 56 107 113 120 125
ROCE % 14% 17% 21% 17% 12% 7% 1% 6% 16% 23% 17% 12%

Shareholding Pattern

Numbers in percentages

14 Recently
Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024
58.69% 58.69% 58.68% 58.68% 58.69% 58.73% 58.75% 58.75% 58.72% 58.76% 58.76% 58.80%
1.15% 1.17% 1.19% 1.23% 1.55% 1.58% 1.59% 1.69% 1.92% 1.48% 1.70% 1.25%
18.27% 18.07% 17.97% 18.07% 18.06% 17.93% 17.79% 19.56% 19.41% 18.67% 18.25% 18.91%
21.89% 22.07% 22.16% 22.00% 21.69% 21.75% 21.87% 20.00% 19.92% 21.07% 21.27% 21.02%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.03% 0.03% 0.03% 0.03%
No. of Shareholders 37,86338,49838,07235,71334,73135,43136,58832,60033,20134,51134,41634,676

* 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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