INDOCO REMEDIES LTD
Q1 FY21 RESULTS DT 21 08 20
Management
Suresh G Kare Chairman
Aditi Panandikar Managing Director
PRESS RELEASE
EBIDTA Doubles, Sales Grow for Indoco in Q1FY21:
During the first quarter of FY 2020-21, Indoco Remedies revenues grew by 7.9 % at 267crores, as against 247 crores, same quarter last year.
EBIDTA to net sales for the quarter is 18.3 % at 48.9 crores, compared to 9.2 % at 22.7 crores, same quarter last year.
The Company recorded a net profit of 17.23 crores, as against 2.2 crores, same quarter last year.
Commenting on the 1st quarter FY21 results, Aditi Panandikar, Managing Director, Indoco Remedies Ltd., said,
“In the first quarter, the Company could register a growth of 7.9 % in revenues inspite of Covid-19 crisis. In these challenging times, our teams used digital platforms effectively to establish communication with the customers and maintained uninterrupted supplies of medicines in India and across the world.”
For the quarter ended Jun’20, the financials are as under: ( in Crores)
Particulars Apr’20 -Jun’20 Apr’19 -Jun’19 Gw %
Net Revenues 266.8 247.2 7.9
EBIDTA 48.9 22.71 14.8
Operating Profit 34.2 10.8 218.2
Profit After Tax 17.2 2.2 690.4
EPS (Face value 2/-) (Not annualized) 1.87 0.24
About Indoco remedies :
HQ at Mumbai. Presence in 55 countries. Employs over 5500 employees including 300 skilled scientists.]( manufacturing facilities
6 for FDFs
3 for APIs
1 R&D Centre and a CRO facility
Approved by USFDA and UK MHRA.
Generates more than 70 mln prescriptions from over 3,00,000 doctors.
9 domestic marketing Dns - opthalmic, Cardiovascular, Anti Diabetics, Anti obesity, Anti infective, dental care, Pain Management
Top Indoco Brands include - cyclopam, Febrex Plus,Sensodent-k, Oxipod, Cital, ATM, Cloben-G,Sensoform, Sensodent-KF, Karvol plus, Glychek, Kidodent, Carmicide, Bactogard.
On the International front, Indoco has tie up with Large generaic companies across the globe
QUARTERLY RESULTS ANALYSIS
|
Indoco Remedies (in Rs. Cr.) |
Jun '20 |
Mar '20 |
Dec '19 |
Sep '19 |
Jun '19 |
YOY |
QOQ |
|
Net Sales |
275.86 |
272.02 |
283.44 |
285.6 |
247.18 |
11.6 |
1.41 |
|
P/L Before Tax |
24.24 |
7.8 |
11.32 |
9.31 |
0.28 |
8557.14 |
210.77 |
|
Tax |
7.01 |
2.4 |
1.98 |
1.98 |
-1.9 |
-468.95 |
192.08 |
|
Net Profit |
17.23 |
5.4 |
9.34 |
7.33 |
2.18 |
690.37 |
219.07 |
|
Equity |
18.43 |
18.43 |
18.43 |
18.43 |
18.43 |
0 |
0 |
|
Basic EPS. |
1.87 |
0.59 |
1.01 |
0.8 |
0.24 |
679.17 |
216.95 |
|
MP |
250.7 |
||||||
|
VOLUME |
44,177 |
||||||
|
PE |
33.51604 |
||||||
|
52 Wk L/H |
33.1 |
285 |
ANNUAL RESULTS ANALYSIS
|
Annual |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
Sales |
1,106.59 |
968.45 |
1,041.94 |
1,074.77 |
1,008.12 |
|
Net Profit |
24.12 |
-2.9 |
41.16 |
77.06 |
81.94 |
HISTORICAL PRICES
|
Historical Prices |
|
|||||
|
3 M BEF |
Current Price |
%Gain / Loss |
|
|||
|
Open Price |
213 |
254.7 |
19.58 |
|
||
|
1 YE BEF |
|
|||||
|
Open Price |
153.55 |
254.7 |
65.87 |
|
||
|
2 YR BEF |
|
|||||
|
Open Price |
197.05 |
254.7 |
29.26 |
|
||
|
3 YR BEF |
|
|||||
|
Open Price |
191.9 |
254.7 |
32.73 |
|
||
|
Share Holding Pattern in (%) |
|
|||||
|
Standalone |
Jun-20 |
Mar-20 |
Dec-19 |
Sep-19 |
||
|
Promoters |
58.69 |
58.69 |
58.69 |
58.69 |
||
|
Pledged |
0 |
0 |
0 |
0 |
||
|
FII/FPI |
2 |
1.97 |
2.02 |
2.06 |
||
|
Total DII |
19.69 |
20.39 |
20.27 |
20.26 |
||
|
Fin.Insts |
0.03 |
0.02 |
0.02 |
0.04 |
||
|
Insurance Co |
0 |
0 |
0 |
0 |
||
|
MF |
14.52 |
15.51 |
15.12 |
13.34 |
||
|
Others DIIs |
5.14 |
4.86 |
5.13 |
6.88 |
||
|
Others |
19.63 |
18.95 |
19.02 |
18.99 |
||
|
Total |
100.01 |
100 |
100 |
100 |
||
SWOT ANALYSIS
Strengths (10) Company with high TTM EPS Growth
- Company with high TTM EPS Growth
- Growth in Net Profit with increasing Profit Margin (QoQ) and YoY
- Company with Low Debt
- Company with Zero Promoter Pledge
- FII / FPI or Institutions increasing their shareholding
- Recent Results : Growth in Operating Profit with increase in operating margins (YoY)
- Strong Momentum: Price above short, medium and long term moving averages
Weaknesses (2) MFs decreased their shareholding last quarter
MFs decreased their shareholding last quarter
High PE with Negative ROE
Opportunities (3) Brokers upgraded recommendation or target price in the past three months
- Brokers upgraded recommendation or target price in the past three months
- Negative to Positive growth in Sales and Profit with Strong Price momentum
- RSI indicating price strength
Threats (1) Stocks with high PE (PE > 40)
Stocks with high PE (PE > 40)
CHART
Feb-24 TOUCHED 260
APRIL 20 TOUCHED LOWEST
FROM APRIL 20 MOVING UP
TECHNICAL RATING
Very Bullish
Moving Averages Bullish
Technical Indicators Bullish
Moving Averages Crossovers Bullish
Valuation
Market Cap (Rs Cr.) 2,313.43
P/E 58.47
Book Value (Rs) 73.81
Dividend (%) 15
Industry P/E 36.11
EPS (TTM) 4.26
P/C 20.85
Price/Book 3.4
Dividend Yield.(%) 0.12
Face Value (RS) 2
Deliverables (%) 57.67
Action in Indoco Remedies Ltd.
Views
Buy Indoco Remedies; target of Rs 330: ICICI Direct
Aug 13, 15:00
Views
Hold Indoco Remedies; target of Rs 243: Prabhudas Lilladher
Aug 12, 15:30
Last Updated : Aug 06, 2020 11:18 AM IST | Source: PTI
Indoco Remedies announced receipt of approval for its ANDA for Olanzapine Tablets USP 2.5mg, 5mg, 7.5 mg, 10mg, 15mg and 20 mg.
Olanzapine is indicated for the treatment of schizophrenia and bipolar disorder.
US market size of Olanzapine Tablets is USD 65 million as per available IMS data.
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