Indoco Remedies
Healthcare
INDOCO NSE
₹213.43 −1.80 (−0.84%)
- P/E
- Not meaningful: last twelve months’ earnings are mostly a one-off item
Close 4 Nov 2026 ₹213.43 −51.02 −19.3% 1Y
Start ₹264.45
Key Fundamentals
MicrocapPharmaceuticals & BiotechnologyHealthcarePrice-based figures as of · EPS basis: Consolidated · TTM
- ROCE
- 0.96%
- Debt to Equity
- 1.16
- EPS (TTM)
- ₹0.61
- Book Value
- ₹110.65
- Market Cap
- —
- P/E (TTM)
- Not meaningful: last twelve months’ earnings are mostly a one-off item
- P/B
- 1.93
- ROE
- −9.36%
- Dividend Yield
- 0.09%
- EBITDA
- ₹145 Cr
- 52W High
- ₹288.00
- 52W Low
- ₹162.19
- Day Range
- ₹212.89 – ₹220.86
- Volume
- 1,67,472
Peer Comparison
Healthcare › Pharmaceuticals
| ₹1,773.40 | 38.81 | ₹4,29,049 Cr | 4.77 | 0.90% | 16.00% | 20.50% | ₹61,631 Cr | ₹10,987 Cr | |
| ₹10,037.50 | 91.10 | ₹2,65,269 Cr | 15.90 | 0.30% | 16.50% | 22.00% | ₹11,230 Cr | ₹2,925 Cr | |
| ₹4,738.50 | 78.61 | ₹1,77,061 Cr | 9.81 | 0.82% | 27.40% | 15.20% | ₹17,400 Cr | ₹2,099 Cr | |
| ₹1,188.10 | 26.44 | ₹1,25,446 Cr | 4.37 | 0.08% | 21.20% | 21.10% | ₹28,592 Cr | ₹4,593 Cr | |
| ₹2,323.80 | 114.81 | ₹1,25,228 Cr | 20.72 | 0.04% | 18.30% | 17.80% | ₹7,270 Cr | ₹1,090 Cr | |
| ₹1,374.00 | 35.59 | ₹1,14,543 Cr | 2.96 | 0.58% | 11.20% | 13.00% | ₹33,228 Cr | ₹3,184 Cr | |
| ₹1,402.00 | 33.59 | ₹1,12,454 Cr | 3.20 | 0.93% | 11.60% | 15.50% | ₹28,324 Cr | ₹3,356 Cr | |
| Indoco Remedies (this company) | ₹213.43 | — | ₹1,989 Cr | 1.93 | 0.09% | −9.36% | 0.96% | ₹1,873 Cr | ₹3 Cr |
| Median 8 companies | ₹1,587.70 | 38.81 | ₹1,25,337 Cr | 4.57 | 0.44% | 16.25% | 16.65% | ₹22,862 Cr | ₹3,055 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
45 Average
Data confidence 100/100
Category scores
- Quality
- 53
- Average
- Returns, margins, earnings quality 22% weight
- Valuation
- 47
- Average
- Cheap vs sector & own history 24% weight
- Growth
- 43
- Weak
- Sales & profit trajectory 9% weight
- Financial Health
- 15
- Poor
- Solvency, leverage, coverage 9% weight
- Momentum
- 30
- Poor
- Trend strength, vol-adjusted 12% weight
- Ownership
- 51
- Average
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
1- Company's working capital requirements have reduced from 40.8 days to 21.3 days
Weaknesses
4- 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.
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bearish | 12 | 5 | 2 |
| Oscillators | Neutral | 2 | 5 | 2 |
| Moving Averages | Strong Bearish | 10 | 0 | 0 |
Oscillators
Neutral
Bearish
2
Neutral
5
Bullish
2
Overall
Strong Bearish
Bearish
12
Neutral
5
Bullish
2
Moving Averages
Strong Bearish
Bearish
10
Neutral
0
Bullish
0
Key readings
- RSI (14)
- 38.15
- Neutral
- MACD (12,26,9)
- −8.51
- Bearish
- SMA (50)
- 240.66
- Bearish
- SMA (200)
- 222.11
- Bearish
As of
Analyst Rating
Based on 4 analysts
0 of 4 analysts rate Buy, 3 Hold, 1 Sell.
As of
BUY
0
0% HOLD
3
75% SELL
1
25% Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 10Y | +6.26% |
|---|---|
| 5Y | +8.24% |
| 3Y | +3.40% |
| 1Y | +10.81% |
| TTM | +11.95% |
Net profit
| 10Y | Turned to loss |
|---|---|
| 5Y | Turned to loss |
| 3Y | Turned to loss |
| 1Y | Loss widened by ₹21 Cr |
| TTM | Turned to profit |
Operating cash flow
| 10Y | +5.54% |
|---|---|
| 5Y | +18.55% |
| 3Y | +2.36% |
| 1Y | +102.11% |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | −9.31 pp |
|---|---|
| 5Y | −10.42 pp |
| 3Y | −9.56 pp |
| 1Y | +1.69 pp |
| TTM | +4.74 pp |
Revenue by year
| Mar 2017 | ₹1,071 Cr |
|---|---|
| Mar 2018 | ₹1,041 Cr |
| Mar 2019 | ₹968 Cr |
| Mar 2020 | ₹1,107 Cr |
| Mar 2021 | ₹1,242 Cr |
| Mar 2022 | ₹1,541 Cr |
| Mar 2023 | ₹1,669 Cr |
| Mar 2024 | ₹1,817 Cr |
| Mar 2025 | ₹1,665 Cr |
| Mar 2026 | ₹1,845 Cr |
Net profit by year
| Mar 2017 | ₹77.00 Cr |
|---|---|
| Mar 2018 | ₹41.00 Cr |
| Mar 2019 | −₹3.00 Cr |
| Mar 2020 | ₹24.00 Cr |
| Mar 2021 | ₹93.00 Cr |
| Mar 2022 | ₹155 Cr |
| Mar 2023 | ₹142 Cr |
| Mar 2024 | ₹97.00 Cr |
| Mar 2025 | −₹78.00 Cr |
| Mar 2026 | −₹99.00 Cr |
Analyst Forecasts
Forecast For
FY27 consensus · EBITDA
₹184 Cr +26.7% vs FY26
Reported High Mean Low
Quarterly Results
₹ Cr| 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 (₹) | 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
₹ Cr| 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 | 5.45 | 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 | −107 | 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 (₹) | 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% | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | 11% | 15% | 13% | 15% | 14% | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | — |
Balance Sheet
₹ Cr| 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
₹ Cr| 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/EBITDA | 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
70 extracted metrics across FY08–FY27.
Documents
- Q1 FY27 concall · Aug 2026Transcript PPT Recording
- Concall · Jul 2026Recording
- Q4 FY26 concall · May 2026Transcript PPT Recording
- Q3 FY26 concall · Feb 2026Transcript PPT
- Q2 FY26 concall · Nov 2025Transcript PPT
- 30 Sep 2026
- 24 Sep 2025
- 4 Aug 2025
- 1 Jul 2025
- 30 Jan 2025
- General announcements 27 Oct 2026
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.
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 52-week high and low of Indoco Remedies Ltd?
Over the last 52 weeks Indoco Remedies Ltd has traded between ₹162.19 and ₹288 as of 4 Nov 2026.
Does Indoco Remedies Ltd pay dividends?
Indoco Remedies Ltd has a dividend yield of 0.09%.
What is the Return on Equity (ROE) of Indoco Remedies Ltd?
Indoco Remedies Ltd reported a return on equity of -9.36%. 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).
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