Indoco Remedies Ltd
NSE:INDOCO
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Indoco Remedies Ltd
Indoco Remedies Ltd. engages in manufacturing and marketing of Formulations (Finished Dosage Forms) and active pharmaceutical ingredients. The company is headquartered in Mumbai, Maharashtra. The company went IPO on 2005-01-07. The firm is an integrated, research-oriented pharma company engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs). The firm's geographical segments include India and Outside India. The firm has nine domestic marketing divisions with a brand portfolio in various therapeutic segments, including Gastrointestinal, Respiratory, Anti-Infective, Stomatologicals, Ophthalmic, Nutritionals, Cardiovascular, Anti-Diabetics, Pain Management and Gyneacology. The Company’s brands include Cyclopam, Febrex Plus, Sensodent-K, Karvol Plus, ATM, Oxipod, Cital, Sensoform, Sensodent-KF, Cal-Aid, Cloben-G, Glychek, Kidodent, Carmicide, Rexidin, MCBM and Methycal.
Indoco Remedies Ltd. engages in manufacturing and marketing of Formulations (Finished Dosage Forms) and active pharmaceutical ingredients. The company is headquartered in Mumbai, Maharashtra. The company went IPO on 2005-01-07. The firm is an integrated, research-oriented pharma company engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs). The firm's geographical segments include India and Outside India. The firm has nine domestic marketing divisions with a brand portfolio in various therapeutic segments, including Gastrointestinal, Respiratory, Anti-Infective, Stomatologicals, Ophthalmic, Nutritionals, Cardiovascular, Anti-Diabetics, Pain Management and Gyneacology. The Company’s brands include Cyclopam, Febrex Plus, Sensodent-K, Karvol Plus, ATM, Oxipod, Cital, Sensoform, Sensodent-KF, Cal-Aid, Cloben-G, Glychek, Kidodent, Carmicide, Rexidin, MCBM and Methycal.
Revenue Growth: Both standalone and consolidated revenues grew strongly, with consolidated revenue up 9.6% YoY and 9.5% QoQ as manufacturing disruptions eased.
Margin Improvement: EBITDA margins recovered significantly from the previous quarter, though still below last year's levels; management expects further efficiency gains.
International Expansion: Emerging markets and US businesses saw notable growth; Europe is expected to return to double-digit growth after regulatory approvals.
US FDA Update: Progress made with US FDA, with two Goa plant lines restarted and audit acknowledgment received; further approvals could unlock additional US revenue.
Cost Control: Other expenses remain elevated due to remediation and sales promotion, but underlying costs are being managed; elevated expenses expected for two more quarters.
Strategic Focus: Shift towards building owned brands and front-end presence in regulated markets is underway, with major CapEx largely completed.
Guidance: Medium-term target to reach INR 3,500 crores in revenue in three years, though INR 5,000 crore goal deferred by 18 months.
Subsidiary Performance: Losses at FPP and Warren Remedies expected to reduce; OTC business remains in investment phase but aims for EBITDA breakeven by FY27.
