Indoco Remedies Share Price

Indoco Remedies

CMP as on 26-May-22 14:41

₹ 347.65
-7.10 -2%

Open

₹ 357.90

Turnover (lac)

₹ 284

Prev. Close

₹ 354.75

Day's Vol (shares)

₹ 81,772

Day's Range (₹)

₹ 341.40
₹ 357.90

CMP as on26-May-22 14:40

₹ 347.95
-6.1 -1.72%

Open

₹ 355.20

Turnover (lac)

₹ 19

Prev. Close

₹ 354.05

Day's Vol (shares)

₹ 1,600

Day's Range

₹ 340.90
₹ 355.20

Indoco Remedies (Indoco) is a Mumbai-based pharmaceutical company that focuses on formulations, with some 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). Indoco Remedies Ltd., headquartered in Mumbai, is a fully integrated, research-oriented pharma Company with presence in 55 countries. Indoco, a USD 166 million Company, employs over 6000 people including more than 300 skilled scientists.The Company has 9 manufacturing facilities, 6 of which are for FDFs and 3 for APIs, supported by a state-of-the-art R&D Centre and a CRO facility.Currently, Indoco has a presence in the therapeutic segments including anti-infective, anti-cold preparation, opthalmic, anti-spasmodic, stomatology, anti-inflammatory and anti-fungal. As per AC Nielsen ORG-MARG market survey (August 2004) of doctors, Indoco ranked first in the stomatology, ninth in the opthalmic and twelve in the pediatric segments in terms of prescription generation in the domestic market. In the overall pharma industry, Indoco is ranked 34th as per AC Nielsen ORG-MARG Retail Audit, but ranked 23rd in terms of prescription generation, indicating the strength of its marketing network. Further, the company last year launched a new super specialty division, with focus on diabetic and cardio-vascular segments. Its entry into the lifestyle segment with a strong presence in the prescription segment would augur well for the higher- than-average industry growth. Currently, Indoco has four manufacturing facilities. Two are located in Mumbai and two in Goa, and an R&D centre in Mumbai. The solid dosage facility in Goa has been accredited by UK-Medicines and Healthcare Products Regulatory Agency (MHRA), and the sterile plant of Goa has been designed as per US Food and Drug Administration (FDA) norms. On the selling front, it has a marketing network of 1,248 medical representatives.In July 2014, the Company purchased the remaining shares of its subsidiary, Xtend Industrial Designers and Engineers Private Limited to make it a 100% subsidiary of the Company.In April 2015, the Company acquired from Piramal Enterprise Limited, their Clinical Research Division, located in Hyderabad. The division is equipped with a 98-bed facility, including a four-bed ICU, state-of-the-art analytical lab and capabilities of eCTD submission. It also has GCP certification from UK-MHRA and also has regulatory approvals from several bodies including USFDA. The acquisition would reduce the Companys dependability to outsource bio-equivalence studies. This will not only reduce cost but also ensure time-bound outcome of studies and add pace to the Companys existing R&D efforts.In December, 2015, the Company incorporated Indoco Remedies Singapore Pte Limited, a 100% subsidiary. The subsidiary will be used for the expansion of the companys ambitious plans to extend its activities in the European and US markets. The company has the following 3 subsidiary companies as on 31 March 2016.i. Xtend Industrial Designers and Engineers Private Limited,ii. Indoco Pharmchem Limited,iii. Indoco Remedies Singapore Pte. Ltd.The cash outflow on account of Capital Expenditure (CAPEX) during FY2016 was Rs 97.7 crore, as compared to Rs 88.7 crore in the last year. The cash outflow on account of Capital Expenditure (CAPEX) during FY2017 was Rs 130.60 crore, as compared to Rs 97.70 crore in the last year. As on 31 March 2018,the company has 2 subsidiary companies under its fold. As there was no business activity, the Company during the year has applied to the Registrar of Companies for striking off the names of following Companies,i. Indoco Pharmchem Limited - 100% subsidiary,ii. Indoco Analytical Solutions LLP - Associate LLP.The cash outflow on account of Capital Expenditure (CAPEX) during FY2018 was Rs 139.4 crore, as compared to Rs 189.6 crore in the last year. During the year 2017-18, the Company (F&D) was granted two patents by the Indian Patent Office and one by United States Patents Office for formulation of Olopatadine, Gliclazide, and Brinzolamide respectively. The Company was also granted three patents by Indian Patents Office for manufacturing processes of three APIs, viz., Febuxostat, Rufinamide and Lacosamide.Indocos R&D efforts received due recognition with the Best Process Patent Award for the year 2016-2017 forfive Indian patents granted related to Processforthe preparation of Tapentadol, Process for the preparation of Aminoindane compound, Process for preparation of Pyrazole derivatives, Preparation of phenylacetic acid derivative and Preparation of Substituted 1H-imidazo[4,5-c] quinoline. This award was presented at Indian Drug Manufacturers Associations 56th Annual Day celebrations held on 20 January 2018.As on March 31, 2019, the Company has one subsidiary viz Xtend Industrial Designers and Engineers Pvt. Ltd. (XIDEPL). As there was No Business Activity, the following subsidiary has been voluntarily wound up during the year under consideration. - 100% subsidiary- Indoco Remedies Singapore Pte Ltd.In order to expand its business in the European market, the Company has effective 09 April 2019 set up a 100% subsidiary in the Czech Republic.The cash outflow on account of Capital Expenditure (CAPEX) during FY2019 was Rs 96.95 crore, as compared to Rs 139.45 crore in the last year. As on March 31, 2020, the Company had two subsidiaries:i. Xtend Industrial Designers and Engineers Pvt. Ltd. (XIDEL),ii. Indoco Remedies Czech sro.The Cash outflow on account of Capital Expenditure (CAPEX) during FY2020 was Rs 58.46 crore, as compared to Rs 96.95 crore in the previous year.During the year 2019-20, eight new products, five in Cardiac segment, two in Anti-diabetic segment and one in Dermatology segment, were launched.The Company continues to monitor the impact of Covid-19 and has been able to effectively manage its operations. During the FY2021,Revenue from International business continues to register a healthy growth, however, India business has witnessed a muted growth. The trend in EBIDTA growth has been consistent and encouraging. For the year ended 31 March 2021, the Companys revenue grew by 12.8 % at Rs. 1217.4 crore, as against Rs.1079.4 crore, last year. EBIDTA to net sales is 18.4 % at Rs. 223.6 crore, compared to 11.4 % at Rs. 123.3 crore, last year.

  • Chairman (Non-Executive)

    Suresh G Kare
  • Non-Exec. & Independent Dir.

    D M Gavaskar
  • Joint Managing Director

    Sundeep V Bambolkar
  • Managing Director

    Aditi Kare Panandikar
  • Non-Exec. & Independent Dir.

    Rajiv Kakodkar
  • Non-Exec & Non-Independent Dir

    Anand Nadkarni
  • Company Secretary

    Jayshankar Menon
  • Non-Exec. & Independent Dir.

    Vasudha V Kamat
  • Non-Exec. & Independent Dir.

    Abhijit Yashwant Gore

Registered Office

Indoco House 166 C S T Road,
Santacruz (East) Kalina,Mumbai,
Maharashtra-400098

REGISTRAR OFFICE

C-101 247 Park,
Vikhroli West,Mumbai-400083
INDIA