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Indoco Remedies Limited INDOCO NSEPHARMA

Healthcare · Drug Manufacturers - Specialty & Generic · India
https://www.indoco.com

Indoco Remedies Limited manufactures and markets formulations and active pharmaceutical ingredients in India and internationally. It offers products for gastrointestinal, anti-infectives, respiratory, stomatological, vitamins/minerals/nutrients, urological, ophthal/ontological, dermatology, pain/analgesic, cardiac, anti-diabetic, and gynaecological therapeutic areas. The company also provides branded generics comprising analgesic tablets and topical preparations; anti-hypertensive; protein supplements; multivitamin tablets and syrups; antibiotic tablets, syrups, and injectables; oral rehydration powders; antacids; and antihistaminic, anti-inflammatory drugs, etc. In addition, it provides analytical services, such as impurity profile, particle size analysis, polymorphism and compatibility studies, heavy metal analysis, extractables and leachables studies, lyophilization studies, reference and working standards, forced degradation studies, and chromatographic method development and validation services. Further, the company offers architectural design, lighting, mechanical and utility engineering, project and construction management, electrical, control system, piping, structural design, data transfer system, and process engineering. Additionally, it provides contract research services, such as custom chemical synthesis of molecules and intermediates; process chemistry research and development; non-infringing process designing and scale up; and analytical method development, validation, impurity characterization, and polymorphic studies, solutions, as well as intellectual property management. The company was formerly known as Indo Continental Trading Company. Indoco Remedies Limited was founded in 1945 and is based in Mumbai, India.

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₹209.66
-17.17% 1Y

Market & Price

Market Cap
₹1,932.51 Cr
Current Price
₹209.66
High / Low (52W)
₹338.86 / ₹164.00
Beta
0.62

Valuation

Stock P/E
-
Industry PE
37.60
Forward P/E
15.42
PEG Ratio
-
Book Value
₹111.55
Price to Book
1.88
P/S
1.05
EV/EBITDA
19.85
Dividend Yield
0.10%

Profitability & Returns

ROCE
1.02%
ROE
-10.12%
ROA
0.38%
Profit Margin
-5.16%
Op Margin
3.62%
EPS (Latest Qtr)
₹-2.57
EPS (TTM)
₹-10.69

Balance Sheet & Liquidity

Debt/Equity
1.17
Quick Ratio
0.52
Current Ratio
1.13
Debt
₹1,089.75 Cr
Total Assets
₹2,593.27 Cr
Current Assets
₹1,193.35 Cr
Working Capital
₹140.81 Cr

Ownership

Promoter Holding
60.89%
Chg in Prom Hold
-
FII / Inst Holding
18.13%
Chg in FII Hold
-

Financial Snapshot

Enterprise Value
₹2,814.98 Cr
Total Revenue (TTM)
₹1,845.32 Cr
EBITDA
₹141.80 Cr
Free Cash Flow
₹-94.17 Cr
Operating Cash Flow
₹192.23 Cr
Shares Outstanding
₹9.22 Cr
Gross Margin
70.64%
Payout Ratio
45.39%

Growth (CAGR)

Revenue 5Y
3.02%
Profit 5Y
-55.63%
Revenue (YoY)
21.90%
Earnings (YoY)
-

PROS

No notable strengths flagged.

CONS

  • Earnings shrank at -55.6% CAGR over 5 years.
  • Trading 38.1% below its 52-week high.
  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Healthcare).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 INDOCO Indoco Remedies Limited NSEPHARMA 209.66 - ₹1,932.51 Cr 0.10% 1.02% -10.12% 3.02% -55.63%
2 SUNPHARMA Sun Pharmaceutical Industries Limited NIFTY50NSEAIPHARMA 1,799.20 37.59 ₹4.32 L Cr 0.92% 17.94% 14.72% 10.39% 10.65%
3 DIVISLAB Divi's Laboratories Limited NSEPHARMA 6,667.00 68.97 ₹1.77 L Cr 0.45% 18.96% 16.19% 11.27% 12.08%
4 TORNTPHARM Torrent Pharmaceuticals Limited NSEPHARMA 4,410.80 68.96 ₹1.49 L Cr 0.86% 9.06% 16.98% 13.27% 20.21%
5 CIPLA Cipla Limited NIFTY50NSEAIPHARMA 1,401.00 29.16 ₹1.13 L Cr 0.93% 14.88% 11.74% 7.23% 11.45%
6 DRREDDY Dr. Reddy's Laboratories Limited NIFTY50NSEAIPHARMA 1,303.50 25.90 ₹1.09 L Cr 0.61% 14.00% 11.83% 10.96% -2.35%
7 ZYDUSLIFE Zydus Lifesciences Limited NSEPHARMA 1,077.70 21.51 ₹1.08 L Cr 0.09% 19.24% 18.32% 16.55% 36.99%
8 LUPIN Lupin Limited NIFTY_MIDNSEPHARMA 2,267.70 19.49 ₹1.04 L Cr 0.53% 28.42% 26.91% 19.10% 131.46%
9 MANKIND Mankind Pharma Limited NIFTY_MIDNSEPHARMA 2,375.60 51.29 ₹98,090.71 Cr 0.08% 13.78% 12.45% 17.73% 14.28%
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Quarterly Results

Figures in INR.

Metric Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue 383.89 Cr429.08 Cr471.83 Cr434.34 Cr455.90 Cr
Cost of Revenue 105.97 Cr134.97 Cr145.34 Cr120.42 Cr141.01 Cr
Gross Profit 277.92 Cr294.11 Cr326.49 Cr313.92 Cr314.89 Cr
Operating Expenses 307.48 Cr306.28 Cr315.69 Cr314.42 Cr297.67 Cr
Operating Income -29.56 Cr-12.17 Cr10.80 Cr-50.00 L17.22 Cr
EBITDA 1.24 Cr19.16 Cr43.28 Cr26.34 Cr53.41 Cr
Interest Expense 17.98 Cr26.12 Cr24.56 Cr25.64 Cr45.92 Cr
Pretax Income -45.52 Cr-36.66 Cr-13.53 Cr-31.31 Cr-25.00 Cr
Tax Provision -4.18 Cr-31.00 L-4.32 Cr-1.86 Cr-1.32 Cr
Net Income -40.39 Cr-35.79 Cr-7.93 Cr-29.79 Cr-21.64 Cr
Diluted EPS -4.48-3.94-1.00-3.20-2.57

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue -1,640.05 Cr1,788.22 Cr1,641.29 Cr1,792.94 Cr
Cost of Revenue -539.31 Cr582.10 Cr498.18 Cr541.74 Cr
Gross Profit -1,100.73 Cr1,206.12 Cr1,143.11 Cr1,251.20 Cr
Operating Expenses -903.10 Cr1,063.26 Cr1,157.69 Cr1,235.85 Cr
Operating Income -197.64 Cr142.86 Cr-14.58 Cr15.35 Cr
EBITDA -287.15 Cr262.59 Cr105.70 Cr142.19 Cr
Interest Expense -23.75 Cr34.93 Cr66.23 Cr122.25 Cr
Pretax Income -192.79 Cr135.80 Cr-74.37 Cr-106.51 Cr
Tax Provision -50.54 Cr38.79 Cr3.58 Cr-7.81 Cr
Net Income -142.25 Cr98.46 Cr-73.74 Cr-95.15 Cr
Diluted EPS 16.8015.4210.67-8.46-

Compounded Sales Growth

5 Years:3.02%
1 Year:21.90%

Compounded Profit Growth

5 Years:-55.63%
1 Year:-

Stock Price Performance

1 Year:-17.17%
6 Months:-17.06%
3 Months:+4.93%
1 Month:+0.07%

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets -1,658.20 Cr2,144.73 Cr2,429.91 Cr2,593.27 Cr
Current Assets -813.57 Cr954.67 Cr1,001.34 Cr1,193.35 Cr
Cash & Equivalents -10.92 Cr14.86 Cr12.10 Cr25.93 Cr
Inventory -325.99 Cr353.06 Cr419.35 Cr405.21 Cr
Receivables -350.94 Cr406.20 Cr352.41 Cr489.17 Cr
Total Liabilities -629.95 Cr1,034.23 Cr1,411.54 Cr1,661.16 Cr
Current Liabilities -424.51 Cr612.33 Cr807.99 Cr1,052.54 Cr
Long Term Debt -143.50 Cr351.73 Cr533.20 Cr516.02 Cr
Total Debt -332.85 Cr671.95 Cr993.57 Cr1,089.75 Cr
Total Equity -1,028.25 Cr1,109.90 Cr1,022.00 Cr939.28 Cr
Shares Outstanding -9.22 Cr9.22 Cr9.22 Cr9.23 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow -178.83 Cr155.39 Cr90.76 Cr226.35 Cr
Investing Cash Flow --208.17 Cr-432.52 Cr-259.79 Cr-87.38 Cr
Financing Cash Flow -22.80 Cr280.43 Cr168.62 Cr-133.09 Cr
Capital Expenditure --207.25 Cr-425.99 Cr-258.43 Cr-125.35 Cr
Free Cash Flow --28.42 Cr-270.60 Cr-167.67 Cr101.00 Cr
Net Change in Cash --6.54 Cr3.31 Cr-41.00 L5.88 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % -67.1%67.4%69.6%69.8%
Operating Margin % -12.1%8.0%-0.9%0.9%
Net Margin % -8.7%5.5%-4.5%-5.3%
ROE % -13.8%8.9%-7.2%-10.1%
ROCE % -16.0%9.3%-0.9%1.0%

Shareholding Pattern

Insiders
60.89%
Institutions
18.13%
Public Float
46.36%

Analyst View

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