Indoco Remedies

₹319.7 -9 | 2.7%

WEBSITE BSE:532612 NSE : INDOCO REM 10 May, 16:01

Market Cap ₹2947 Cr.

Stock P/E 29.0

P/B 2.7

Current Price ₹319.7

Book Value ₹ 117.6

Face Value 2

52W High ₹417

Dividend Yield 0.7%

52W Low ₹ 308.8

Edit Ratio

Indoco Remedies Research see more...

Overview Inc. Year: 1947Industry: Pharmaceuticals & Drugs

Indoco Remedies Ltd is an totally India-based organisation, which is engaged inside the manufacture of pharmaceutical merchandise. The Company usually manufactures and markets Formulations (Finished Dosage Forms) and Active Pharmaceutical Ingredients (APIs). Its geographical segments are both domestic and international. It offers products for numerous therapeutic classes, together with gastrointestinal, pain/analgesics, gynaecological, vitamins/minerals/nutrients, stomatologicals, breathing, anti-infectives, ophthal/otologicals and dermatology. Its domestic advertising divisions encompass Spera, Indoco Focus, Indoco CND, Warren Excel, Warren Vision, INDOCO, SPADE, Warren NxGen, Warren Ace, Eterna, Institution and Indoco IMPULSE. The Company's merchandise include Zincoren, Otorex, Cloben G, Methycal, Tuspel, Scabex, Hemsyl, Karvol Plus, Sensodent-K, Homide, Carmicide, Renolen, Rexidin M, Febrex Plus, Durashape, Lignox, Sensoform Toothpaste, Kidodent Toothpaste, Rosuchek D, Otichek and Irimist.

Indoco Remedies Share Price

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Peer Comparison

Indoco Remedies Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	387	358	409	408	433	399	428	427	482	459
Other Income	1	0	0	1	0	0	1	0	4	2
Total Income	388	358	409	409	433	400	429	427	486	462
Total Expenditure	300	285	329	337	345	337	363	365	410	397
Operating Profit	87	74	81	73	88	62	65	62	76	65
Interest	3	4	3	4	5	7	9	8	8	10
Depreciation	19	19	18	20	16	17	18	20	21	24
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	-8
Profit Before Tax	65	51	60	48	67	38	39	34	46	23
Provision for Tax	23	18	19	10	18	10	13	10	11	7
Profit After Tax	42	33	40	39	50	28	26	24	35	16
Adjustments	0	0	0	0	0	0	0	0	-0	1
Profit After Adjustments	42	33	40	39	50	28	26	24	35	16
Adjusted Earnings Per Share	4.5	3.6	4.4	4.2	5.4	3.1	2.8	2.6	3.8	1.8

Indoco Remedies Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	631	733	857	1008	1075	1042	968	1107	1242	1541	1669	1796
Other Income	2	4	2	4	6	8	7	5	9	3	2	7
Total Income	632	737	859	1012	1081	1050	975	1111	1251	1544	1671	1804
Total Expenditure	538	614	691	840	920	910	892	986	1023	1215	1383	1535
Operating Profit	94	122	167	172	160	140	83	126	227	330	288	268
Interest	22	19	11	12	6	24	21	26	22	14	25	35
Depreciation	24	31	47	61	63	68	72	71	73	79	71	83
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	-8
Profit Before Tax	49	72	110	99	91	48	-9	29	132	237	193	142
Provision for Tax	6	14	27	17	14	7	-6	4	39	82	51	41
Profit After Tax	43	58	83	82	77	41	-3	24	93	155	142	101
Adjustments	-0	-0	0	0	0	0	0	0	0	0	0	1
Profit After Adjustments	43	58	83	82	77	41	-3	24	93	155	142	101
Adjusted Earnings Per Share	4.6	6.3	9	8.9	8.4	4.5	-0.3	2.6	10.1	16.8	15.4	11

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	8%	15%	10%	10%
Operating Profit CAGR	-13%	32%	16%	12%
PAT CAGR	-8%	81%	28%	13%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-4%	-4%	11%	8%
ROE Average	15%	15%	10%	12%
ROCE Average	17%	19%	13%	14%

Indoco Remedies Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	414	457	519	577	651	675	661	680	769	905	1028
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	27	14	13	38	132	123	129	97	97	96	144
Other Non-Current Liabilities	51	56	52	28	15	2	-12	4	61	61	117
Total Current Liabilities	199	202	262	303	390	417	446	459	407	518	425
Total Liabilities	692	729	846	946	1189	1218	1223	1240	1334	1579	1714
Fixed Assets	322	325	340	374	440	489	468	590	570	555	678
Other Non-Current Assets	95	99	120	108	177	190	217	87	142	157	227
Total Current Assets	276	305	385	464	572	539	538	563	623	867	808
Total Assets	692	729	846	946	1189	1218	1223	1240	1334	1579	1714

Indoco Remedies Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	9	11	10	11	10	60	9	21	24	9	17
Cash Flow from Operating Activities	69	99	109	112	89	123	132	123	82	174	179
Cash Flow from Investing Activities	-43	-41	-88	-111	-171	-135	-104	-56	-67	-121	-208
Cash Flow from Financing Activities	-24	-59	-20	-2	132	-39	-16	-64	-30	-44	23
Net Cash Inflow / Outflow	2	-1	1	-0	50	-51	12	3	-14	8	-7
Closing Cash & Cash Equivalent	11	10	10	10	60	9	21	24	9	17	11

Indoco Remedies Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	4.64	6.29	9	8.89	8.36	4.47	-0.32	2.62	10.1	16.8	15.44
CEPS(Rs)	7.21	9.65	14.1	15.47	15.23	11.81	7.45	10.3	18.03	25.37	23.1
DPS(Rs)	1.1	1.4	1.6	1.6	1.6	1	0.3	0.3	1.5	2.25	2.25
Book NAV/Share(Rs)	44.94	49.61	56.3	62.56	70.68	73.25	71.69	73.75	83.45	98.17	111.51
Core EBITDA Margin(%)	14.43	15.85	19.06	16.66	14.09	12.59	7.91	10.92	17.59	21.17	17.14
EBIT Margin(%)	10.97	12.24	13.84	11.04	8.86	6.88	1.22	4.95	12.42	16.27	13.05
Pre Tax Margin(%)	7.56	9.7	12.62	9.81	8.29	4.63	-0.96	2.58	10.63	15.35	11.55
PAT Margin (%)	6.66	7.79	9.54	8.13	7.03	3.94	-0.3	2.18	7.49	10.05	8.53
Cash Profit Margin (%)	10.35	11.93	14.96	14.15	12.8	10.42	7.09	8.58	13.38	15.17	12.76
ROA(%)	8.53	8.17	10.52	9.15	7.22	3.42	-0.24	1.96	7.23	10.63	8.64
ROE(%)	13.98	13.32	16.97	14.96	12.55	6.21	-0.43	3.6	12.85	18.5	14.72
ROCE(%)	18.33	16.84	20.63	16.72	11.8	7.62	1.23	5.78	15.67	23.03	17.48
Receivable days	59.83	64.94	61.7	62.31	67.31	74.23	76.39	66.96	65.26	62.9	70.89
Inventory Days	36.61	49.8	54.52	57.17	58.84	66.4	71.01	64.61	65.58	64.95	69.62
Payable days	72.24	86.07	108.63	123.63	141.62	160.68	182.51	185.76	143.7	98.49	89.88
PER(x)	12.48	22.45	40.33	32.38	29.89	47.18	0	79.99	28.57	22.42	21.09
Price/Book(x)	1.29	2.85	6.45	4.6	3.54	2.88	2.83	2.84	3.46	3.84	2.92
Dividend Yield(%)	1.9	0.99	0.44	0.56	0.64	0.47	0.15	0.14	0.52	0.6	0.69
EV/Net Sales(x)	1.01	1.88	4	2.76	2.34	2.12	2.2	1.95	2.34	2.4	1.98
EV/Core EBITDA(x)	6.79	11.3	20.5	16.17	15.71	15.84	25.53	17.14	12.77	11.21	11.45
Net Sales Growth(%)	159.13	16.14	16.97	17.64	6.61	-3.05	-7.05	14.26	12.19	24.1	8.3
EBIT Growth(%)	44.46	29.55	31.67	-7.33	-12.73	-25.98	-83.62	365.47	181.36	62.53	-13.12
PAT Growth(%)	35.79	35.71	42.7	-1.05	-5.95	-46.59	-107.06	930.49	285.8	66.37	-8.11
EPS Growth(%)	30.52	35.73	43.09	-1.24	-5.95	-46.59	-107.05	930.59	285.8	66.37	-8.11
Debt/Equity(x)	0.29	0.2	0.19	0.24	0.43	0.42	0.45	0.39	0.34	0.27	0.31
Current Ratio(x)	1.38	1.51	1.47	1.53	1.47	1.29	1.21	1.23	1.53	1.67	1.9
Quick Ratio(x)	0.91	0.96	0.9	0.98	0.99	0.83	0.8	0.77	0.95	1.07	1.14
Interest Cover(x)	3.22	4.82	11.35	8.98	15.64	3.06	0.56	2.09	6.93	17.73	8.7
Total Debt/Mcap(x)	0.23	0.07	0.03	0.05	0.12	0.15	0.16	0.14	0.1	0.07	0.1

Indoco Remedies Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	58.69	58.69	58.69	58.69	58.69	58.69	58.73	58.74	58.74	58.72
FII	1.62	1.15	1.17	1.07	1.11	1.42	1.57	1.59	1.69	1.91
DII	17.78	18.27	18.08	17.97	18.19	18.18	17.93	17.78	19.56	19.41
Public	21.91	21.89	22.07	22.28	22.01	21.7	21.76	21.88	20	19.95
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	5.41	5.41	5.41	5.41	5.41	5.41	5.41	5.41	5.41	5.41
FII	0.15	0.11	0.11	0.1	0.1	0.13	0.15	0.15	0.16	0.18
DII	1.64	1.68	1.67	1.66	1.68	1.68	1.65	1.64	1.8	1.79
Public	2.02	2.02	2.03	2.05	2.03	2	2.01	2.02	1.84	1.84
Others	0	0	0	0	0	0	0	0	0	0
Total	9.22	9.22	9.22	9.22	9.22	9.22	9.22	9.22	9.22	9.22

Pros

Company has delivered good profit growth of 28% CAGR over last 5 years
Debtor days have improved from 98.49 to 89.88days.
Company is almost debt free.

Cons

* 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.

Indoco Remedies News

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Indoco Remedies

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Indoco Remedies Research see more...

Overview Inc. Year: 1947Industry: Pharmaceuticals & Drugs

Indoco Remedies Share Price

Alert Data

Quarterly Price

Peer Comparison

Indoco Remedies Quarterly Results

Indoco Remedies Profit & Loss

Growth Rates

Indoco Remedies Balance Sheet

Indoco Remedies Cash Flow

Indoco Remedies Ratios

Indoco Remedies Shareholding Pattern

Indoco Remedies News

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