Indoco Remedies Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for INDOCO, BSE:532612 Indoco Remedies Ltd.

Indoco Remedies Ltd.

26 May 2021

256.15

-0.70%

Indoco Remedies

Buy: Indoco Remedies Ltd.

ICICI Securities Limited

Q4 growth was led by strong growth in export markets (albeit on lower base) and lower staff, travel & promotional costs. The management expects 80-90 bps margin improvement in FY22 to ~19%. After going through rough patches in FY18-20, where Indoco faced headwinds on the domestic front (structural issues, pandemic) and exports front (regulatory setbacks), the situation is returning to normalcy. Indoco is expected to post strong FY22 topline growth as domestic sales normalise and grow amid opportunities arising out of post-Covid complications. Export formulations are also...

Indoco Remedies Ltd. has an average target of 325.00 from 2 brokers.

Indoco Remedies Ltd.

16 Feb 2021

256.15

-0.70%

Monthly Update - IPM grapple for normalized growth after COVID

Buy: Indoco Remedies Ltd.

Recommendation Target

Prabhudas Lilladhar

IPM is struggling for growth above 10% even after MoM abating COVID concerns and with MRs, physician activities almost reaching pre-COVID level. We believe key reasons for growth below par are (i) subdued new prescription (Rx) leading to volume de-growth (ii) digital marketing yield going south and (iii) sustained lower demand of acute products. Cardiac and anti-diabetic growth takes a breather in Jan-21 at 8.8% and 5.3% after reporting double digit growth in most months during lockdown. While amongst top therapies Gastro and VMN reported double digit growth of 14%...

Indoco Remedies Ltd. has an average target of 325.00 from 2 brokers.

Indoco Remedies Ltd.

30 Dec 2020

256.15

-0.70%

Indoco Remedies

Buy: Indoco Remedies Ltd.

Target

ICICI Securities Limited

H1 growth was led by strong growth in export markets (albeit on lower base), strong gross margins and lower travel & promotional spends. The management has guided for significant export growth and margin improvement for FY21. After going through rough patches in FY18-19, where Indoco faced headwinds on the domestic front (structural issues) and exports front (regulatory setbacks), the situation is returning to normalcy. While FY21 growth in the domestic market is likely to be subdued due to Covid-19, exports are likely to deliver robust growth on the back of strong...

Indoco Remedies Ltd. is trading below all available SMAs

Indoco Remedies Ltd.

17 Aug 2020

256.15

-0.70%

Indoco Remedies Ltd

Buy: Indoco Remedies Ltd.

Target

Karvy

Valuation and Risks: We upgrade our Revenues for FY21E/FY22E by 0.9%/0.7% to Rs. 13.3 Bn / Rs. 16.8 Bn due to upgrade in US markets.

Indoco Remedies Ltd. is trading below all available SMAs

Indoco Remedies Ltd.

12 Aug 2020

256.15

-0.70%

Indoco Remedies

Buy: Indoco Remedies Ltd.

Target

ICICI Securities Limited

India formulations growth core to overall growth Domestic formulations (~63% of FY20 revenues) grew at 6.5% CAGR in FY16-20. The subdued growth can be attributed to high concentration of acute therapies and one of the lowest MR productivity. With a market share of ~0.7% and overall rank of 29, the company is still a marginal player with some top brands in smaller categories like stomatologicals. However, with a positive outcome of restructuring exercise and likely improvement in MR productivity besides therapy calibration, we expect Indian formulations to...

Indoco Remedies Ltd. is trading below all available SMAs

Indoco Remedies Ltd.

12 Aug 2020

256.15

-0.70%

Q1FY21 Result Update - US delivers, India falters; Maintain guidance - HOLD

Hold: Indoco Remedies Ltd.

Target

Prabhudas Lilladhar

1QFY21 earnings were mixed with revenue lower than our estimate but EBITDA and PAT higher due to higher gross margin and lower SG&A.; INDR's key growth driver for FY22E India formulation declined by 9% (55% of revenue) YoY even after restructuring its marketing divisions and sales team with new taxonomy of portfolio, focus and allotment of MRs (including additional headcounts). Europe has already made a strong comeback with...

Indoco Remedies Ltd. has an average target of 325.00 from 2 brokers.

Indoco Remedies Ltd.

26 Jun 2020

256.15

-0.70%

Indoco Remedies Ltd: Pharmaceuticals

Buy: Indoco Remedies Ltd.

Target

Karvy

Decent Revenue Traction:Indoco Remedies (Indoco) revenues increased by 7.9% on a YoY basis to Rs. 2.72 bn due to domestic formulations and US.

Indoco Remedies Ltd. has an average target of 325.00 from 2 brokers.

Indoco Remedies Ltd.

25 Jun 2020

256.15

-0.70%

Indoco Remedies

Buy: Indoco Remedies Ltd.

Recommendation Target

ICICI Securities Limited

Indoco Remedies Ltd. is trading below all available SMAs

Indoco Remedies Ltd.

25 Jun 2020

256.15

-0.70%

Q4FY20 Result Update - Earnings in-line, margin remains to be subdued - HOLD

Hold: Indoco Remedies Ltd.

Target

Prabhudas Lilladhar

We maintain HOLD on INDR and wait for more visibility post Q1FY21E considering that this quarter is usually weak due to seasonality effect plus COVID scenario could possibly lead to a double blow. FY20 was a recovery and CAPEX phase for INDR given 1) Remediation work for its Goa facility 2) Expansion of API segment with Patalganga Unit 3) Restructuring of Domestic...

Indoco Remedies Ltd. has an average target of 325.00 from 2 brokers.

Indoco Remedies Ltd.

28 Jan 2020, 12:00AM

256.15

-0.70%

Indoco Remedies

Hold: Indoco Remedies Ltd.

Target

ICICI Securities Limited

India formulations growth core to overall growth Domestic formulations (~63% of FY19 revenues) grew at 4.4% CAGR in FY16-19. The subdued growth can be attributed to high concentration of acute therapies and one of the lowest MR productivity. With a market share of ~0.7% and overall rank of 29, the company is still a marginal player with some top brands in smaller categories like stomatologicals. However, with a positive outcome of restructuring exercise and likely improvement in MR...

Indoco Remedies Ltd. has an average target of 325.00 from 2 brokers.

Is Indoco Remedies Ltd. worth buying?

60 Votes:

Buy 75.0%

Sell 15.0%

Hold 10.0%

RESEARCH REPORTS

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