Stock INDOCO INDOCO REMEDIES LIMITED
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Financials Indoco Remedies Limited

Equities

INDOCO

INE873D01024

Pharmaceuticals

Market Closed - NSE India S.E.
Other stock markets
 07:49:10 2024-05-14 EDT 		5-day change 1st Jan Change
330.5 INR +4.28% Intraday chart for Indoco Remedies Limited -1.14% -16.37%
03-29 Indoco Remedies Limited Announces Cessation of Divakar M. Gavaskar and Rajiv P. Kakodkar as Independent Directors, Effective Mach 31, 2024 CI
03-26 Indoco Remedies Arm Begins Commercial Production from New Manufacturing Unit MT

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 18,642 19,388 26,498 34,745 29,972 30,466 - -
Enterprise Value (EV) 1 18,642 19,388 26,498 34,745 29,972 30,466 30,466 30,466
P/E ratio -653 x 80.3 x 28.5 x 22.4 x 21.1 x 27.9 x 18.5 x 14.9 x
Yield 0.15% 0.14% 0.52% 0.6% 0.69% 0.61% 0.7% 0.84%
Capitalization / Revenue 1.92 x 1.75 x 2.13 x 2.26 x 1.8 x 1.67 x 1.51 x 1.36 x
EV / Revenue 1.92 x 1.75 x 2.13 x 2.26 x 1.8 x 1.67 x 1.51 x 1.36 x
EV / EBITDA 22.5 x 20.1 x 11.8 x 10.6 x 10.5 x 11.7 x 9.19 x 7.83 x
EV / FCF 65.7 x 30.1 x 493 x 71.6 x -105 x -90 x 35.6 x 24.6 x
FCF Yield 1.52% 3.32% 0.2% 1.4% -0.95% -1.11% 2.81% 4.06%
Price to Book 2.82 x 2.85 x 3.45 x 3.84 x 2.91 x 2.73 x 2.41 x 2.1 x
Nbr of stocks (in thousands) 92,150 92,150 92,150 92,150 92,150 92,182 - -
Reference price 2 202.3 210.4 287.6 377.0 325.2 330.5 330.5 330.5
Announcement Date 5/29/19 6/24/20 5/25/21 5/17/22 5/23/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 9,684 11,066 12,415 15,408 16,686 18,192 20,177 22,437
EBITDA 1 828 966 2,243 3,273 2,861 2,600 3,316 3,893
EBIT 1 112.3 548.3 1,511 2,507 2,155 1,764 2,476 3,006
Operating Margin 1.16% 4.95% 12.17% 16.27% 12.91% 9.7% 12.27% 13.4%
Earnings before Tax (EBT) 1 -93.1 285.8 1,320 2,366 1,928 1,445 2,202 2,731
Net income 1 -29 241.2 930.5 1,548 1,422 1,073 1,649 2,046
Net margin -0.3% 2.18% 7.49% 10.05% 8.53% 5.9% 8.17% 9.12%
EPS 2 -0.3100 2.620 10.10 16.80 15.42 11.82 17.88 22.20
Free Cash Flow 1 283.6 643.8 53.7 485.1 -284.3 -338.5 855.3 1,236
FCF margin 2.93% 5.82% 0.43% 3.15% -1.7% -1.86% 4.24% 5.51%
FCF Conversion (EBITDA) 34.25% 66.65% 2.39% 14.82% - - 25.8% 31.76%
FCF Conversion (Net income) - 266.92% 5.77% 31.33% - - 51.86% 60.44%
Dividend per Share 2 0.3000 0.3000 1.500 2.250 2.250 2.000 2.325 2.775
Announcement Date 5/29/19 6/24/20 5/25/21 5/17/22 5/23/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 4,091 4,082 4,330 3,992 4,282 4,265 4,512 4,790 4,680
EBITDA 1 805.4 714.5 878.5 620.4 647.6 611.7 826.7 797.8 677
EBIT - - - - - - - - -
Operating Margin - - - - - - - - -
Earnings before Tax (EBT) 597.5 483.5 673 382.2 389.3 - - - -
Net income 1 404.5 385.7 497.3 281.4 258.1 243.9 456 414.3 340
Net margin 9.89% 9.45% 11.48% 7.05% 6.03% 5.72% 10.11% 8.65% 7.27%
EPS 2 - - 5.400 3.050 - 2.620 4.100 3.800 -
Dividend per Share - - - - - - - - -
Announcement Date 5/17/22 8/9/22 11/10/22 1/24/23 5/23/23 7/25/23 - - -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 284 644 53.7 485 -284 -339 855 1,236
ROE (net income / shareholders' equity) -0.43% 3.6% 12.8% 18.5% 14.7% 9.98% 13.7% 14.9%
ROA (Net income/ Total Assets) - - 7.19% - - - - -
Assets 1 - - 12,933 - - - - -
Book Value Per Share 2 71.70 73.70 83.40 98.20 112.0 121.0 137.0 157.0
Cash Flow per Share - - - - - - - -
Capex 1 969 585 769 1,253 2,073 1,510 1,361 1,323
Capex / Sales 10.01% 5.28% 6.19% 8.13% 12.42% 8.3% 6.75% 5.9%
Announcement Date 5/29/19 6/24/20 5/25/21 5/17/22 5/23/23 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Indoco Remedies Limited

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
330.5 INR
Average target price
395.2 INR
Spread / Average Target
+19.58%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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