Indoco Remedies
INDOCO NSE
Indoco Remedies
HealthcareNSE: INDOCO BSE: 532612 Pharmaceuticals
Key Fundamentals
MicrocapPharmaceuticalsHealthcareMarket Cap
₹2,357 Cr
Volatility
Moderate
P/E Ratio
431.18
EBITDA
₹145 Cr
Return on Equity
-10.59%
Debt to Equity
1.16
Book Value
₹101.76
EPS
₹7.5
52W High
₹332.2
52W Low
₹162.19
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company's working capital requirements have reduced from 40.8 days to 21.3 days
Weaknesses
5- Stock is trading at 2.58 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 8.25% over past five years.
- Company has a low return on equity of -2.45% over last 3 years.
- Earnings include an other income of Rs.98.3 Cr.
Growth Rate
Revenue Growth
10.67% higher than
3Y
Net Income Growth
26.54% higher than
3Y
Cash Flow Change
102% higher than
3Y
ROE
38.43% higher than
3Y
ROCE
-304% lower than
3Y
EBITDA Margin (Avg.)
25.2% higher than
3Y
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 426 | 482 | 459 | 450 | 431 | 433 | 411 | 390 | 440 | 485 | 445 | 476 | 468 |
| Expenses | 365 | 410 | 397 | 401 | 384 | 392 | 399 | 391 | 422 | 442 | 414 | 426 | 426 |
| Operating Profit | 61 | 71 | 63 | 49 | 48 | 40 | 12 | -1 | 18 | 43 | 32 | 50 | 41 |
| OPM % | 14% | 15% | 14% | 11% | 11% | 9% | 2.9% | -0.2% | 4% | 9% | 7% | 10% | 9% |
| Other Income | 0 | 4 | -6 | 22 | 1 | 2 | 2 | 2 | 2 | 0 | -5 | 4 | 100 |
| Interest | 8 | 8 | 10 | 12 | 14 | 18 | 16 | 18 | 26 | 25 | 26 | 46 | 28 |
| Depreciation | 20 | 21 | 24 | 26 | 28 | 29 | 29 | 29 | 30 | 32 | 32 | 32 | 35 |
| PBT | 34 | 46 | 23 | 33 | 7 | -5 | -31 | -46 | -37 | -14 | -31 | -25 | 78 |
| Tax % | 29% | 24% | 31% | 33% | 74% | 107% | -8% | -9% | -1% | -32% | -6% | -5% | 16% |
| Net Profit | 24 | 35 | 16 | 22 | 2 | -10 | -28 | -41 | -36 | -9 | -29 | -24 | 65 |
| EPS in Rs | 2.65 | 3.81 | 1.77 | 2.46 | 0.28 | -1.04 | -2.86 | -4.38 | -3.88 | -0.86 | -3.23 | -2.34 | 7.04 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 854 | 1,005 | 1,071 | 1,041 | 968 | 1,107 | 1,242 | 1,541 | 1,669 | 1,817 | 1,665 | 1,845 | 1,873 |
| Expenses | 689 | 834 | 914 | 906 | 892 | 983 | 1,017 | 1,213 | 1,381 | 1,572 | 1,565 | 1,703 | 1,708 |
| Operating Profit | 166 | 171 | 157 | 135 | 77 | 123 | 225 | 328 | 288 | 245 | 100 | 142 | 165 |
| OPM % | 19% | 17% | 15% | 13% | 8% | 11% | 18% | 21% | 17% | 13% | 6% | 8% | 9% |
| Other Income | 2 | 1 | 4 | 5 | 6 | 2 | 3 | 2 | 1 | 20 | 6 | 0 | 98 |
| Interest | 11 | 12 | 6 | 24 | 21 | 26 | 22 | 14 | 25 | 38 | 66 | 122 | 124 |
| Depreciation | 47 | 61 | 63 | 68 | 72 | 71 | 73 | 79 | 71 | 92 | 114 | 126 | 131 |
| PBT | 110 | 99 | 91 | 48 | -9 | 29 | 132 | 237 | 193 | 136 | -74 | -106 | 8 |
| Tax % | 24% | 17% | 15% | 15% | -69% | 16% | 30% | 35% | 26% | 29% | 5% | -7% | — |
| Net Profit | 83 | 82 | 77 | 41 | -3 | 24 | 93 | 155 | 142 | 97 | -78 | -99 | 3 |
| EPS in Rs | 8.99 | 8.89 | 8.36 | 4.47 | -0.31 | 2.62 | 10.1 | 16.8 | 15.44 | 10.68 | -7.99 | -10.31 | 0.61 |
| Div. Payout % | 18% | 18% | 19% | 22% | -95% | 11% | 15% | 13% | 15% | 14% | -2% | -2% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 |
| Reserves | 500 | 558 | 633 | 657 | 642 | 661 | 751 | 886 | 1,010 | 1,091 | 1,004 | 921 |
| Borrowings | 97 | 140 | 280 | 282 | 296 | 262 | 267 | 257 | 333 | 672 | 994 | 1,090 |
| Other Liabilities | 230 | 224 | 266 | 281 | 301 | 330 | 279 | 325 | 297 | 363 | 414 | 564 |
| Total Liabilities | 846 | 941 | 1,197 | 1,238 | 1,258 | 1,272 | 1,315 | 1,486 | 1,658 | 2,145 | 2,430 | 2,593 |
| Fixed Assets | 340 | 374 | 440 | 489 | 468 | 590 | 570 | 555 | 678 | 954 | 997 | 1,193 |
| CWIP | 63 | 55 | 91 | 136 | 185 | 51 | 68 | 122 | 114 | 125 | 321 | 90 |
| Investments | 0 | 16 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 9 | 1 | 1 |
| Other Assets | 443 | 496 | 666 | 613 | 605 | 631 | 677 | 809 | 864 | 1,057 | 1,111 | 1,309 |
| Total Assets | 846 | 941 | 1,197 | 1,238 | 1,258 | 1,272 | 1,315 | 1,486 | 1,658 | 2,145 | 2,430 | 2,593 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 109 | 112 | 89 | 123 | 132 | 123 | 82 | 174 | 179 | 157 | 95 | 192 |
| Investing | -88 | -111 | -171 | -135 | -104 | -56 | -67 | -121 | -208 | -433 | -339 | -102 |
| Financing | -20 | -2 | 132 | -39 | -16 | -64 | -30 | -44 | 23 | 280 | 241 | -77 |
| Net Cash Flow | 1 | 0 | 50 | -51 | 12 | 3 | -14 | 8 | -7 | 4 | -3 | 14 |
| Free Cash Flow | 20 | 15 | -100 | -15 | 39 | 64 | 6 | 49 | -27 | -269 | -257 | 91 |
| CFO/OP | 81 | 82 | 72 | 98 | 177 | 103 | 45 | 66 | 84 | 76 | 112 | 139 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 66 | 69 | 74 | 73 | 74 | 69 | 69 | 70 | 77 | 82 | 77 | 97 |
| Inventory Days | 181 | 174 | 189 | 203 | 209 | 230 | 245 | 248 | 228 | 230 | 307 | 273 |
| Days Payable | 146 | 137 | 166 | 157 | 195 | 183 | 117 | 107 | 86 | 100 | 152 | 208 |
| Cash Conversion Cycle | 102 | 105 | 97 | 119 | 88 | 116 | 197 | 212 | 219 | 212 | 232 | 162 |
| Working Capital Days | 46 | 48 | 41 | 38 | 21 | 22 | 59 | 78 | 82 | 62 | 39 | 21 |
| ROCE % | 21% | 17% | 12% | 7% | 1% | 6% | 16% | 23% | 17% | 10% | 0% | 1% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Indoco Remedies insights
71 extracted metrics + investor summaries across FY07–FY27.
Documents
1
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
16h - Transcript of Earnings Conference Call on Audited Standalone and Consolidated Financial Results for the Quarter and Year ended 31-03-2026 16h - Transcript of Earnings Conference Call on Audited Standalone and Consolidated Financial Results for the Quarter and Year ended 31-03-2026
2
Announcement under Regulation 30 (LODR)-Newspaper Publication
8 May - Publication of Audited Standalone & Consolidated Financial Results for the Quarter and Year ended 31-03-2026 8 May - Publication of Audited Standalone & Consolidated Financial Results for the Quarter and Year ended 31-03-2026
3
Board Meeting Outcome for Outcome Of Board Meeting Held On 07Th May, 2026
7 May - Board approved audited Q4/FY26 standalone and consolidated results; recommended Rs.0.20 dividend per share. 7 May - Board approved audited Q4/FY26 standalone and consolidated results; recommended Rs.0.20 dividend per share.
5
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
7 May - Audio recording of 7 May 2026 earnings call on Q4 and FY26 audited results available online. 7 May - Audio recording of 7 May 2026 earnings call on Q4 and FY26 audited results available online.
Frequently Asked Questions about Indoco Remedies
What does Indoco Remedies Ltd do?
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 Ingredi...
Where is Indoco Remedies Ltd (INDOCO) listed?
Indoco Remedies Ltd trades as INDOCO on the NSE and under code 532612 on the BSE.
Which sector does Indoco Remedies Ltd belong to?
Indoco Remedies Ltd is classified under the Healthcare sector, in the Pharmaceuticals industry.
What is the market capitalisation of Indoco Remedies Ltd?
Indoco Remedies Ltd has a market capitalisation of ₹2,357 Cr, which places it in the Small Cap band.
What is the PE ratio of Indoco Remedies Ltd?
Indoco Remedies Ltd trades at a PE ratio of 431.18, on earnings per share of ₹7.5, against a book value of ₹101.76 per share.
What is the 52-week high and low of Indoco Remedies Ltd?
Over the last 52 weeks Indoco Remedies Ltd has traded between ₹162.19 and ₹332.2.
Does Indoco Remedies Ltd pay dividends?
Indoco Remedies Ltd has a dividend yield of 0.08%.
What is the Return on Equity (ROE) of Indoco Remedies Ltd?
Indoco Remedies Ltd reported a return on equity of -10.59%. Its debt-to-equity ratio is 1.16.
Company Information
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]
Website indoco.com
CEO Mr. Suresh Govind Kare
Employees 6,000
Listed 2005-01-14
Face Value ₹ 2
Issued Size 9,22,47,905
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