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Press Releases :
 

Indoco Remedies Q2 Profit After Tax (PAT) grows by 40%
October 21, 2014
Indoco Remedies Q1 Net Profit up 118%
July 30, 2014
Indoco's Profit Grows by 44%
May 28, 2014
Indoco’s Profit Doubles on Higher Sales
January 29, 2014
Indoco's Sales and EBIDTA margins improve substantially
October 30, 2013
Indoco maintains performance amidst adverse business conditions
July 30, 2013
Indoco’s Revenues grows by 11.8% Y-o-Y
May 28, 2013
Indoco’s domestic business outperforms the industry growth rates
January 29, 2013
Indoco's Revenues Grows by 13.5%
November 2, 2012
Indoco’s Revenues Grow by 20.2% with improved EBIDTA margins
July 30, 2012
Indoco’s Revenues Grow by 22.4% Q-o-Q and by 16.9% Y-o-Y
May 28, 2012
Indoco’s Revenues Grow by 24 %
February 14, 2012
Indoco’s Revenues Grow by 9 %
October 20, 2011
Indoco’s Revenues Grow by 13 %
July 28, 2011
Indoco’s Profit After Tax Grows by 48 %
April 27, 2011
Indoco’s Revenues Grows By 20%
Profit Before Tax Grows By 35%
January 20, 2011
Indoco’s Top Line Grows By 39% Q-o-Q
PAT Grows By 65% Q-o-Q
October 20, 2010
Indoco’s Top-line Grows By Over 13% Q-O-Q
July 22, 2010
Indoco Revenues cross Rs.400 crores
Profit After Tax (PAT) Grows 34%
May 31, 2010
Indoco records 110 % Q4 growth in PAT
April 26, 2010
Indoco records 1127 % Q3 growth in PAT
January 27, 2010
Indoco’s Top-line Grows By Over 21%
October 30, 2009
Indoco Remedies registers a higher Q-O-Q growth,
Net Sales grows 15.68 % to Rs. 992.5 million
July 31, 2009
Indoco Remedies scores a higher Q-O-Q growth,
Net Sales grows 9.07 % to Rs. 849.90 million
April 29, 2009
Indoco Remedies Q3 net sales at Rs 779.20 million
January 30, 2009
Indoco Remedies Q2 net profit at 2.17 crore
October 31, 2008
Indoco Remedies Q1 net profit at 24.6 crore
July 30, 2008
Indoco Remedies Q3 net profit up 249%
April 30, 2008
Indoco Remedies Q2 net profit up by 23%
December 31, 2007
Indoco Remedies Q1 FY08 net profit up 31.67%
October 31, 2007
Indoco Remedies posts impressive performance in FY07
October 18, 2007
The Shareholders of Indoco Remedies Ltd. Approve the Merger Proposal
June 18, 2007
Indoco Remedies posts impressive sales growth in Q3 FY07
April 26, 2007
Indoco Remedies posts impressive sales growth in H1 FY06
January 24, 2007
Consolidated Net Sales stood at Rs. 72.7 crore up by 37.30%
October 30, 2006
INDOCO's FY06 Net Profit Up 25.8% to Rs.31.5 cr
August 10, 2006
Indoco Remedies posts impressive sales growth in Q3 of FY06 Net sales up 50.53% at Rs 48.07 cr
April 27, 2006
Indoco Remedies Q2 FY06 net profit up 10.6% at Rs 7.79 cr.,net sales up 45.03% at Rs 62.16 cr
January 24, 2006
 
 
Indoco's Profit Grows by 44%
May 28, 2014

May 28, 2014, Mumbai: Indoco Remedies Limited has recorded a total revenue growth of 15.8 % at Rs. 185.9 crores during the fourth quarter of FY 2013-14 as against Rs. 160.5 crores during the same period last year. For the year 2013-14, the net revenues grew by 14.5% at Rs. 717.4 Crs as against Rs. 626.4 Crs. EBIDTA to net sales for the quarter is 19.9 % at Rs. 37.0 Crs as against 17.4 % at Rs. 27.9 Crs during the same quarter last year and for the year, it is 18.7 % at Rs. 134.5 Crs as against 16.8 % at Rs. 105.4 Crs last year. Profit before tax (PBT) to net sales for the quarter is 12.1 % at Rs. 22.6 Crs as against 8.9% at Rs. 14.3 Crs during the same quarter last year. For the year, PBT is 10.1% at Rs. 72.1 Crs as against 7.7 % at Rs. 48.4 Crs last year..

Profit after tax (PAT) grew by 44.4% for the quarter and is 10.0 % of net sales at Rs. 18.5 Crs as against 8.0% at Rs. 12.8 Crs during the same quarter last year. For the year, PAT is 8.1% at Rs. 57.9 Crs as against 6.8 % at Rs. 42.7 Crs last year. The un-audited standalone results for the fourth quarter of the FY 2013-14 were announced by the Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on May 28, 2014.

Commenting on the performance, Mr. Suresh G. Kare, Chairman said, "During the quarter, both Domestic as well as International Business segments of Indoco have registered good growth of 13.9% and 18.2% respectively. In the quarter, the Company received approval for its Goa sterile ophthalmic facility from EU Regulatory and also received the 'Best Patent Award 2012-2013' for two of its API process patents at the 52nd IDMA awards. These developments and our belief in our strategies, give us the confidence that the Company is moving faster in the right direction to meet its set goals".

HIGHLIGHTS:

For Fourth Quarter ended 31st March 2014 of FY 2013-14

Net Revenues at Rs. 185.9 crores
EBIDTA at Rs. 37.0 crores
Profit Before Tax at Rs. 22.6 crores
Profit After Tax at Rs. 18.5 crores
EPS at Rs. 2.01


For the Year ended 31st March 2014 of FY 2013-14

Net Revenues at Rs. 717.4 crores
EBIDTA at Rs. 134.5 crores
Profit Before Tax at Rs. 72.1 crores
Profit After Tax at Rs. 57.9 crores
EPS at Rs. 6.28


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Indoco’s Profit Doubles on Higher Sales
January 29, 2014

January 29, 2014, Mumbai: Indoco Remedies Limited has recorded a total revenue growth of 25.4 % at Rs. 188.4 crores during the third quarter of FY 2013-14 as against Rs. 150.3 crores during the same period last year. EBIDTA as a percentage to net sales for the quarter is 17.8% at Rs. 33.5 crores and the EBIDTA for year to date is 18.3% at Rs. 97.5 crores. Profit after tax as a percentage to net sales for the quarter is 7.5% at Rs. 14.1 crores as against 4.9 % at Rs. 7.4 crores for the same period last year. Profit after tax as a percentage to net sales for the year to date is 7.4% at Rs. 39.3 crores as against 6.4% at Rs. 29.8 crores for the same period last year. The un-audited standalone results for the third quarter of the FY 2013-14 were announced by the Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on January, 29 2014.

Commenting on the performance, Mr. Suresh G. Kare, Chairman said, "Our well formulated strategy and investments made over the years have started giving expected returns, as is obvious from the impressive results for the consecutive quarters. The Company is clearly on fast track with both domestic and international businesses registering a good growth in this quarter. Our Domestic Formulation business growth has surpassed the industry average, and our research pipeline ensures consistent growth of the International Business which is spread across the globe".

HIGHLIGHTS:

For Third Quarter ended 31st December 2013 of FY 2013-14

Net Revenues at Rs. 188.4 crores
EBIDTA at Rs. 33.5 crores
Profit Before Tax at Rs. 18.1 crores
Profit After Tax at Rs. 14.1 crores
EPS at Rs. 1.53


For Nine Months ended 31st December 2013 of FY 2013-14

Net Revenues at Rs. 531.5 crores
EBIDTA at Rs. 97.5 crores
Profit Before Tax at Rs. 49.5 crores
Profit After Tax at Rs. 39.3 crores
EPS at Rs. 4.27


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Indoco's Sales and EBIDTA margins improve substantially
October 30, 2013

October 30, 2013, Mumbai: Indoco Remedies Limited, recorded total revenue growth of 24.8 % at Rs. 2023.0 million during the second quarter of FY 2013-14 as against Rs. 1620.7 million during the same period last year. The company witnessed significant improvement in EBIDTA margins in this quarter. EBIDTA as a percentage to net sales is 18.9% at Rs. 368.5 million as against 15.9% at Rs. 261.3 million during the same period last year. Profit after tax is Rs. 160.4 million as against Rs. 120.8 million for the same period last year.

The un-audited results for the second quarter of the financial year 2013-14 were announced by the Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on October 30, 2013.

Commenting on the performance, Mr. Suresh G. Kare, Chairman said, "The performance of our company across all segments has been good in the second quarter as seen from the improvement in top line as well as EBIDTA margins. With expected sales growth from Regulated markets and resolution of issues related to implementation of new pricing policy in Domestic markets, we are confident of maintaining the growth momentum in the coming quarters too".

HIGHLIGHTS:

Second Quarter ended September 2013 of FY 2013-14

Net Revenues at Rs. 1950.5 million
EBIDTA at Rs. 368.5 million
Profit After Tax at Rs. 160.4 million
EPS at Rs. 1.74
(Face value of Rs. 2/- per share)


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Indoco maintains performance amidst adverse business conditions
July 30, 2013

July 30, 2013, Mumbai: Indoco Remedies Limited, a pharmaceutical Company with global presence, recorded revenues at Rs.1480.5 million during the first quarter of FY 2013-14 as compared to Rs. 1511.6 million over the same quarter last year. The un-audited results for the first quarter of the financial year 2013-14 were announced by the Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on July 30, 2013.

Commenting on the performance, Mr. Suresh G. Kare, Chairman said, "Slowdown in the domestic market and pre implementation pangs of pricing policy had an overall impact on our sales. With announcement of the new pricing policy and onset of monsoon, the growth momentum is expected to pick up in the coming quarters. International business revenue & margins will improve with the commencement and ramp up of sales of sterile formulations in US markets and take the company on high growth trajectory."

HIGHLIGHTS:

First Quarter ended June 2013 of FY 2013-14

Net Revenues at Rs. 1480.5 million
Profit Before Tax at Rs. 110.0 million
Profit After Tax at Rs. 91.8 million
EPS at Rs. 1.0
(Face value of Rs. 2/- per share after split & bonus)


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Indoco’s Revenues grows by 11.8% Y-o-Y
May 28, 2013

May 28, 2013, Mumbai: Indoco Remedies Limited, a pharmaceutical Company with global presence, recorded revenues at Rs. 1604.8 million during the fourth quarter of FY 2012-13 as compared to Rs. 1476.6 million over the same quarter last year. The un-audited results for the fourth quarter of the financial year 2012-13 were announced by the Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on May 28, 2013.

Commenting on the performance, Mr. Suresh G. Kare, Executive Chairman said, "I am glad that the domestic formulation sales in the fourth quarter surpassed the industry average growth rate. The much awaited Drug Pricing Policy has now been announced and the impact on the Company is marginal. The business from USA is expected to ramp up with a few ANDAs slated for approval thereby giving boost to the International Business revenues. Going forward, the Company will accelerate sales growth with improved margins."

HIGHLIGHTS:

Fourth Quarter ended March 2013 of FY 2012-13

Net Revenues at Rs. 1604.8 million
EBIDTA at Rs. 282.2 million
Profit After Tax at Rs. 128.5 million
EPS at Rs. 1.39
(Face value of Rs. 2/- per share after split & bonus)


Year ended March 2013 of FY 2012-13

Net Revenues at Rs. 6264.3 million
EBIDTA at Rs. 1059.8 million
Profit After Tax at Rs. 426.6 million
EPS at Rs. 4.63
(Face value of Rs. 2/- per share after split & bonus)

The consolidated EBIDTA for the year stood at Rs. 1061.6 million, operating profit at Rs. 605.6 million and Profit After Tax (PAT) at Rs. 427.2 million.

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Indoco’s domestic business outperforms the industry growth rates
January 29, 2013

January 29, 2013, Mumbai: Indoco Remedies Limited, a pharmaceutical company with global presence, recorded revenues at OB9 1502.6 million during the third quarter of FY 2012-13 as compared to Rs.1417.5 million over the same quarter last year. Company’s Domestic formulation business registered a growth of 11% as against Indian Pharma Market (IPM) growth of 9.1% during the quarter. The un-audited results for the third quarter of the financial year 2012-13 were announced by the Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on January 29, 2013.

Commenting on the performance, Mr. Suresh G. Kare, Executive Chairman said, "The Indian Pharma Market witnessed some slow down during the last quarter but is expected to rebound back in the coming quarters. Indoco’s domestic business has performed better than industry and our strategies have paved well for growth in the coming quarters as well. On the International Business front, the growth during the quarter was marginal due to slowdown in emerging market tender business but we envisage to close the year with better numbers."

HIGHLIGHTS:

For Third Quarter ended December 2012 of FY 2012-13

Net Revenues at Rs.1502.6 million
EBIDTA at Rs.225.0 million
Profit After Tax at Rs.73.8 million
EPS at Rs.0.80
(Face value of Rs.2/- per share after split & bonus)


For Nine Months ended December 2012 of FY 2012-13

Net Revenues at Rs.4659.5 million
EBIDTA at Rs.777.6 million
Profit After Tax at Rs.298.1 million
EPS at Rs.3.23
(Face value of Rs.2/- per share after split & bonus)


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Indoco’s Revenues Grows by 13.5%
November 2, 2012

November 2, 2012, Mumbai: Indoco Remedies Limited, a pharmaceutical company with global presence, recorded a growth of 13.5% in the revenues at Rs.1645.3 million during the second quarter of FY 2012-13 as compared to Rs.1449.8 million over the same quarter last year. The un-audited results for the second quarter of the financial year 2012-13 were announced by the Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on November 2, 2012.

Commenting on the performance, Mr. Suresh G. Kare, Executive Chairman said, "Our domestic business is doing well with growth rates better than that of industry average for the current as well as previous quarter. On the International Business front, the projects signed with alliance partners are getting commercialized. As envisaged, the company is set to take a big leap by registering higher growth consistently."

HIGHLIGHTS:

For Second Quarter ended September 2012 of FY 2012-13

Net Revenues at Rs.1645.3 million
EBIDTA at Rs.260.4 million
Profit After Tax at Rs.120.8 million
EPS at Rs.1.31
(Face value of Rs.2/- per share after split & bonus)


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Indoco’s Revenues Grow by 20.2% with improved EBIDTA margins
July 30, 2012

July, 30, 2012, Mumbai: Indoco Remedies Limited, a pharmaceutical company with global presence, recorded a growth of 20.2% in the revenues at Rs. 1511.6 million during the first quarter of FY 2012-13 as compared to Rs. 1257.4 million over the same quarter last year. The EBIDTA for the quarter was 19.3% at Rs. 292.2 million as compared to 16.3% at Rs. 205.0 million over the same quarter last year. The un-audited results for the first quarter of the financial year 2012-13 were announced by the Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on July 30, 2012.

Commenting on the performance, Ms. Aditi Panandikar, Managing Director said, "Indoco’s Domestic Business has gathered momentum and registered an impressive growth during the quarter. Overall, the Company is doing fairly well and we are on track to achieve our intended objectives."

Mr. Sundeep V. Bambolkar, Jt. Managing Director added, "We are looking for qualitative growth in the International Business and have taken the cost control measures across functions to further improve our margins. With our own filing of ANDAs and Dossiers in the Regulated Markets, we shall be moving up the value-chain, resulting in higher profitability."

HIGHLIGHTS:

For First Quarter ended June 2012 of FY 2012-13

Net Revenues at Rs. 1511.6 million
EBIDTA at Rs. 292.2 million
Profit After Tax at Rs. 103.5 million
EPS at Rs. 1.12 (Face value of Rs.2/- per share after split & bonus)


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Indoco’s Revenues Grow by 22.4% Q-o-Q and by 16.9% Y-o-Y
May 28, 2012

May, 28, 2012, Mumbai: During the fourth quarter of FY 2011-12, Indoco Remedies Limited, a pharmaceutical company with global presence, recorded a growth of 22.4% in the revenues at Rs. 1476.6 million as compared to Rs. 1206.3 million over the same quarter last year. For the full year, the company registered a growth of 16.9% at Rs. 5601.3 million as compared to Rs. 4790.6 million over last year. The EBIDTA for the quarter stood at Rs. 246.0 million as compared to Rs. 200.4 million over the same quarter last year and the EBIDTA for the year stood at Rs. 953.9 million as compared to Rs. 770.6 million last year. The un-audited results for the fourth quarter of the financial year 2011-12 were announced by the Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on May 28, 2012.

Commenting on the performance, Ms. Aditi Panandikar, Managing Director said, “Indoco has done fairly well inspite of a slowdown in the economy. However, we have a highly optimistic view of the future and are all set to take a big leap both in Domestic as well as International Business.”

Mr. Sundeep V. Bambolkar, Jt. Managing Director added, “With the required infrastructure in place, well chosen product pipeline and alliances with the top generic companies of the world, it is time for Indoco to embark on the next horizon of the success curve.”

HIGHLIGHTS:

For Fourth Quarter ended March 2012 of FY 2011-12:

Net Revenues at Rs. 1476.6 million
EBIDTA at Rs. 246.0 million
Profit After Tax at Rs. 125.3 million
EPS at Rs. 10.20 (Face value of Rs.10/- per share)
EPS at Rs. 1.36 (Face value of Rs.2/- per share after split & bonus)



For the Year ended March 2012 of FY 2011-12:

Net Revenues at Rs. 5601.3 million
EBIDTA at Rs. 953.9 million
Profit After Tax at Rs. 463.4 million
EPS at Rs. 37.72 (Face value of Rs.10/- per share)
EPS at Rs. 5.03 (Face value of Rs.2/- per share after split & bonus)



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Indoco's Revenues Grow by 24 %
February 14, 2012

February, 14, 2012, Mumbai: During the third quarter of FY 2011-12, Indoco Remedies Limited, a pharmaceutical company with global presence, recorded a growth of 24% in the revenues at Rs. 1415.2 million as compared to Rs. 1143.1 million over the same quarter of previous year. The EBIDTA for the quarter stood at Rs. 162.9 million as compared to Rs. 145.0 million over the same quarter of previous year and the EBIDTA for the nine months period is at Rs. 555.7 million as compared to Rs. 544.2 million over the same period of previous year. The un-audited results for the third quarter of the financial year 2011-12 were announced by the Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on February 14, 2012.

Commenting on the performance, Mr. Suresh G. Kare, Chairman & Managing Director said, “The recessionary trend has affected the margins of the Industry in general. However the growth expectations for the pharma sector look bright in the domestic space as well as emerging markets. Indoco has registered an impressive growth in revenues for the third quarter in line with the Industry trend. The recent major development at Indoco is an alliance with DSM, a € 9 billion company headquartered in Europe, for marketing and distribution of some of the APIs developed & manufactured by Indoco. This step is in line with Indoco’s strategy of forging alliances and partnerships to expand its global presence. ”

HIGHLIGHTS:

For Third Quarter ended December 2011 of FY 2011-12:

Net Revenues at Rs. 1415.2 million
EBIDTA at Rs.162.9 million
Profit After Tax at Rs. 82.6 million
EPS at Rs. 6.72



For Nine Months ended December 2011 of FY 2011-12:

Net Revenues at Rs. 4118.1 million
EBIDTA at Rs. 555.7 million
Profit After Tax at Rs. 338.1 million
EPS at Rs. 27.52



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Indoco's Revenues Grow by 9 %
October 20, 2011

October, 20, 2011, Mumbai: In the second quarter FY 2011-12, Indoco Remedies Limited, a global pharmaceutical company, recorded a growth of 9.4% in the net revenue at Rs. 1447.4 million as compared to Rs. 1323.4 million over the same quarter of previous year. The profit before tax for the quarter is at Rs. 146.1 million as against Rs. 169.6 million over the same quarter of previous year. The net profit after tax is at Rs. 138.1 million as against Rs. 152.6 million over the same quarter of previous year. The un-audited results for the second quarter of the financial year 2011-12 were announced by the Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on October 20, 2011

Commenting on the performance, Mr. Suresh G. Kare, Chairman & Managing Director said, “The economic slowdown has adversely affected business sentiments across sectors. For the Indian Pharma market to grow, it is pertinent that the economy gathers growth momentum. Indoco has performed satisfactorily under the prevailing circumstances and hopes to better its performance going forward.”

HIGHLIGHTS:

For Second Quarter ended September 2011 of FY 2011-12:

Net Revenues at Rs. 1447.4 million
Profit Before Tax at Rs. 146.1 million
Profit After Tax at Rs. 138.1 million
EPS at Rs. 11.24



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Indoco's Revenues Grow by 13 %
July 28, 2011

July, 28, 2011, Mumbai: In the first quarter FY 2011-12, Indoco Remedies Limited, a global pharmaceutical company, recorded a growth of 12.7% in the net revenue at Rs. 1255.5 million as compared to Rs. 1113.8 million over the same quarter previous year. The profit before tax for the quarter is at Rs. 138.0 million as against Rs. 152.1 million over the same quarter previous year. The net profit after tax is at Rs. 117.4 million as against Rs. 148.2 million over the same quarter previous year. The un-audited results for the first quarter of the financial year 2011-12 were announced by the Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on July 28, 2011.

Commenting on the performance, Mr. Suresh G. Kare, Chairman & Managing Director said, “The financial performance for the first quarter is as per the expectations. Analysts have predicted that the Pharma market will be bullish in the long run and have predicted a healthy growth of over 17% for the current fiscal year. Going by the industry trends, Indoco also hopes to better its performance over the previous year.”

HIGHLIGHTS:

For First Quarter ended June 2011 of FY 2011-12:

Net Revenues at Rs. 1255.5 million up 12.7 %
Profit Before Tax at Rs. 138.0 million
Profit After Tax at Rs. 117.4 million
EPS at Rs. 9.56



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Indoco’s Profit After Tax Grows by 48 %
April 27, 2011

April, 27, 2011, Mumbai: In the fourth quarter FY 2010-11, Indoco Remedies Limited, a global pharmaceutical company, recorded a growth of 47.8% in the Profit After Taxes (PAT) at Rs. 121.6 million as compared to Rs. 82.3 million over the same quarter previous year. The net revenues grew higher to Rs. 1204.4 million as against Rs. 1088.7 million over the same quarter previous year. During the year ended 31st March 2011, the net revenues grew higher by 20.1% to Rs. 4784.7 million from Rs. 3982.9 million and the Profit After Tax (PAT) grew by 21.3% to Rs. 510.5 million as compared to Rs. 420.9 million previous year. The un-audited results for the fourth quarter of the financial year 2010-11 were announced by the Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on April 27, 2011.

Commenting on the performance, Mr. Suresh G. Kare, Chairman & Managing Director said, “The financial performance for the quarter as well as for the year has been as per the expectations. During Q4 FY10-11, the International and API business performed very well. The domestic formulation also performed well despite the domestic formulation industry facing challenges like sluggish prescription trends etc. There is a sense of satisfaction that during the past years, all the tactical streamlining carried out has brought the desired results. Partnership alliances in the international markets with Watson and Aspen have placed Indoco on a firm-footing and the relationship with them is growing stronger. Looking ahead, Indoco aims on achieving a double digit growth on both domestic and international fronts”.

HIGHLIGHTS:

For Fourth Quarter ended March 2011 of FY 2010-11:

Net Revenue’s at Rs.1204.4 million up 10.6 %
Profit After Tax at Rs. 121.6 million up 47.8 %
EPS at Rs. 9.90 up 47.8 %


For the year ended March 2011 of FY 2010-11:

Net Revenue’s at Rs.4784.7 million up 20.1 %
Profit After Tax at Rs. 510.5 million up 21.3 %
EPS at Rs. 41.55 up 21.3 %



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Indoco’s Revenues Grows By 20%
Profit Before Tax Grows By 35%

January 20, 2011

The revenues of Indoco Remedies Limited, a global pharmaceutical company, have grown by 20.4 % at Rs. 1154.9 million compared to Rs. 959.6 million, over same quarter previous year. Profit Before Tax for the quarter was Rs. 105.0 million as against Rs. 78.0 million showing a growth of 34.6% over the same quarter previous year. Profit After Tax for the quarter was Rs. 88.1 million as against Rs. 77.3 million over the same quarter last year. The third quarter un-audited results for the financial year 2010-11 were announced by the Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on January 20, 2011.

Commenting on the performance, Mr. Suresh G. Kare, Chairman & Managing Director said, “The performance of the Company has been quite good during the quarter and going forward, the Company will positively surpass the annual target. The growth momentum of Pharma Industry continued to be good in Q3FY11. The trend seems to be positive in the ensuing quarter as well. At Indoco, the International and API business performed very well. The domestic formulation also performed quite well. The expansion / modernization program initiated by the company at its various plants and at R&D centre are nearing completion and the same will help in catering to the diverse demands of its domestic and international markets”.

HIGHLIGHTS:

For Third Quarter ended December 2010 of FY 2010-11:

Net Revenue’s at Rs.1154.9 million up 20.4 %
Profit Before Tax at Rs. 105.0 million up 34.6 %
EPS at Rs. 7.17 up 14.0 %


For Nine Month’s Period ended December 2010 of FY 2010-11:

Net Revenue’s at Rs.3638.0 million up 24.3 %
Profit Before Tax at Rs. 426.7 million up 23.1 %
EPS at Rs. 31.65 up 14.9 %



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Indoco’s Top-line Grows By Over 13% Q-O-Q
PAT Grows By 65% Q-o-Q

October 20, 2010

Indoco Remedies Limited, a global pharmaceutical company, has recorded a growth of 39 % to Rs. 1323.4 million from Rs. 954.3 million over the same quarter last year. PAT for the quarter grew by 65.0 % to Rs. 152.60 million from Rs. 92.5 million over the same quarter last year. The second quarter un-audited results for the financial year 2010-11 were announced by the Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on October 20, 2010.

Commenting on the performance, Mr. Suresh G. Kare, Chairman & Managing Director said, “With the economy recovering, the pharma industry seems to be on the upswing. We are hopeful that this momentum will continue not only in Asian region but across the globe. It is heartening to see that domestic business has shown excellent growth along with International and API business. Further, the overall margins of the company for this quarter over same quarter last year are also very encouraging. To bolster its growth, the company has initiated an expansion / modernization program at its various plants and R&D centre and the same will help in catering to the various demands of its domestic and international markets”.

HIGHLIGHTS:

For Second Quarter ended September 2010 of FY 2010-11:

Net Sales at Rs.1323.4 million up 39 % Q-o-Q
Net Profit at Rs. 152.6 million up 65 % Q-o-Q
EPS at Rs. 12.42 up 65 % Q-o-Q



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Indoco’s Top-line Grows By Over 13% Q-O-Q
July 22, 2010

Indoco Remedies Limited, a global pharmaceutical company, has scored a growth of 13% to Rs. 1113.8 million from Rs. 983.4 million over same quarter last year. PAT for the quarter stood at Rs. 148.20 million. The Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on July 22, 2010 announced the first quarter un-audited results for the financial year 2010-11.

Commenting on the performance, Mr. Suresh G. Kare, Chairman & Managing Director said, “The global slowdown has portrayed many growth challenges and still there are many serious problems facing the economies around the world. A considerable introspection and realignment of business strategies is required for corporate India to continue the growth momentum. As far as the Pharma Industry is concerned, there are grounds for optimism in the forthcoming year. We wish to assure our investors that Indoco’s performance in the Indian markets shows potential and our international business has shown good growth. Indoco’s growth strategies are well placed to progressively pursue higher growth, for both domestic and international business.”

HIGHLIGHTS:

For First Quarter ended June 2010 of FY 2010-11:

Net Sales at Rs. 1113.8 million
Net Profit at Rs. 148.2 million
EPS at Rs. 12.06



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Indoco Revenues cross Rs.400 crores
Profit After Tax (PAT) Grows 34%

May 31, 2010

Indoco Remedies Limited, a global pharmaceutical company, recorded 34% growth in the (Profit after Tax) at the close of the financial year ended as on 31st March 2010. The PAT grew higher to Rs. 420.9 million as against Rs. 314.4 million over the last year and the revenues grew higher to Rs. 4023.1 million as against Rs. 3552.6 million over the last year. The Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on May 31, 2010 announced the audited annual results for the financial year 2009-10 and also recommended a dividend of Rs. 7/- per share (70%).

Commenting on the performance, Mr. Suresh G. Kare, Chairman & Managing Director said, “The global slowdown has portrayed many growth challenges to our nation and a considerable introspection and realignment of business strategies is required for corporate India to continue the growth momentum. We wish to assure our investors that Indoco’s performance in the Indian market shows potential and our international business has shown satisfactory growth. Indoco’s business strategies are well placed to progressively pursue higher growth, for both domestic and international business.”

HIGHLIGHTS:

For The Year Ended March 2010:

Net Sales at Rs. 3982.8 million
Net Profit at Rs. 420.9 million
EPS at 34.26



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Indoco records 110 % Q4 growth in PAT
April 26, 2010

Indoco Remedies Limited, a global pharmaceutical company, recorded 110% growth in the fourth quarter PAT (Profit after Taxes). The fourth quarter PAT grew higher to Rs. 82.30 million as against Rs. 39.20 million over the same quarter last year and the Net Sales grew higher to Rs. 1088.70 million as against Rs. 849.90 million over the same quarter last year. During the year ended 31st March 2010, the company achieved higher total revenues of Rs. 4023.6 million and PAT of Rs. 420.9 million as against total revenues of Rs. 3552.6 million and PAT of Rs. 314.4 million last year. The Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on April 26, 2010 announced the quarterly and the un-audited annual results for the financial year 2009-10.

Commenting on the performance, Mr. Suresh G. Kare, Chairman & Managing Director said, “As Indoco looks into the future there is a sense of contentment that all the strategic restructuring carried out during the year gone by has brought the desired results. Decisive alliances in the international markets as that with Watson and Aspen have placed Indoco on a firm-footing to launch an aggressive growth agenda in the international business. Indoco took the strong headwinds of slowing world economy in its stride and has emerged with flying colours as evident in the annual results. Our focus remains on achieving a sustaining growth on both domestic and international fronts.”

HIGHLIGHTS:

For Fourth Quarter ended March 2010:

Net Sales at Rs. 1088.70 million up 28% Q-o-Q
Net Profit at Rs. 82.30 million up 110% Q-o-Q
EPS at 6.70 up 110% Q-o-Q


For The Year Ended March 2010:

Gross Sales at Rs. 4023.6 million
Net Profit at Rs. 420.9 million
EPS at 34.26



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Indoco records 1127 % Q3 growth in PAT
January 27, 2010

January 27, 2010, Mumbai: Indoco Remedies Limited, a global pharmaceutical company, recorded 1127 % growth in the third quarter PAT (Profit after Taxes). The third quarter PAT grew higher to Rs. 77.30 million as against Rs. 6.3 million over the same quarter last year and the Sales grew higher to Rs. 957.00 million as against Rs.779.00 million over the same quarter last year. The Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on January 27, 2010 announced the third quarter results for the financial year 2009-10.

Commenting on the performance, Mr. Suresh G. Kare, Chairman & Managing Director said, “It is accomplishing to see Indoco maintaining continuous growth on both domestic and international business fronts even in such a wary economic condition. I look forward to Indoco scaling greater heights in both domestic as well as international markets in the times ahead.”

HIGHLIGHTS:

For Third Quarter ended December 2009:

Net Sales at Rs.957.00 million up 23 % Q-O-Q
Net Profit at Rs. 77.30 million up 1127 % Q-O-Q
EPS at Rs. 6.29 up 1127 % Q-O-Q



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Indoco’s Top-line Grows By Over 21%
October 30, 2009

October 30, 2009, Mumbai: Indoco Remedies Limited, a global pharmaceutical company, registered a higher second quarter net sales at Rs. 954.3 million growing by over 21% over the same quarter last year and a higher second quarter net profit of Rs. 92.5 million growing by over 326% over the same quarter last year. The Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on October 30, 2009 announced the second quarter results for the financial year 2009-10.

Commenting on the performance, Mr. Suresh G. Kare, Chairman & Managing Director said, “Indoco’s excelling growth strategies have produced the desired results and I am very happy to announce that Indoco has emerged with flying colours amidst the economic slowdown. Indoco has not only successfully consolidated its domestic market strength but also propelled the international market growth to a higher path during such trying times.”

HIGHLIGHTS:

For Second Quarter ended September 2009:

Net Sales at Rs.954.3 million up 21 % Q-O-Q
Net Profit at Rs. 92.5 million up 326 % Q-O-Q
EPS at Rs. 7.53 up 326 % Q-O-Q



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Indoco Remedies registers a higher Q-O-Q growth,
Net Sales grows 15.68 % to Rs. 992.5 million

July 31, 2009

Indoco Remedies Limited, a global pharmaceutical company, registered total revenues of Rs. 992.5 million for the first Quarter ended June’09. The net profit for the first Quarter ended June’09 stood at Rs.168.8 million. These results reflect a recovery over the immediate preceding Quarter i.e. March’09. The total revenues have grown by 15.68% and the net profit has multiplied by more than 4 times. The Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on July 30, 2009 announced the first quarter results for the financial year 2009-10.

Commenting on the performance, Mr. Suresh G. Kare, Chairman & Managing Director said, “The beginning of the fresh quarter for the financial year 2009 has been satisfactory for Indoco given the current economic scenario. Indoco strives to achieve higher growth and revenues in all the parameters. I believe that the initiatives towards expansions in International markets will propel the company’s growth at the requisite pace going forward and the credit control measures enforced by the company will ensure better results in domestic market.”

HIGHLIGHTS:

For First Quarter ended June 2009:

Gross Sales at Rs. 992.5 million up 15.68 % over the immediate previous quarter
Net Profit at Rs. 168.8 million up 330.61 % over the immediate previous quarter
EPS at Rs. 13.74 up by 330.72 % over the immediate previous quarter



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Indoco Remedies scores a higher Q-O-Q growth,
Net Sales grows 9.07 % to Rs. 849.90 million

April 29, 2009<

Indoco Remedies Limited, a global pharmaceutical company, has scored a higher growth over the immediate previous quarter by registering the net sales growth of 9.07 percent to Rs. 849.90 million and the net profit growth of 522.2 percent to Rs. 39.20 million. The Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on April 29, 2009 announced the quarterly and the annual results for the financial year 2008-09.

Commenting on the performance, Mr. Suresh G. Kare, Chairman & Managing Director said, “The global slowdown has portrayed many growth challenges to our nation and a considerable introspection and realignment of business strategies is required for corporate India to continue the growth momentum. We wish to assure our investors that Indoco’s performance in the Indian markets shows potential and our international business has shown overwhelming growth. Indoco’s growth strategies are well placed to progressively pursue higher growth, for both domestic and international business.”

HIGHLIGHTS:

For Fourth Quarter ended March 2009:

Net Sales at Rs. 849.90 million up 9.07 % over the immediate previous quarter
Net Profit at Rs. 39.20 million up 522.2 % over the immediate previous quarter
EPS at Rs. 3.19 up 522.2 % over the immediate previous quarter


For The Year Ended March 2009:

Net Sales at Rs. 3,510.20 million
Net Profit at Rs. 313.20 million
EPS at Rs. 25.49



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Indoco Remedies Q3 net sales at Rs 779.20 million
January 30, 2009

Indoco Remedies Limited, a global pharmaceutical company registered a net sales of Rs. 779.2 million and net profit of Rs. 6.30 million for the third quarter ended December 2008. The Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on January 30, 2009 announced the third quarter results for the financial year 2008-09.

Commenting on the performance, Mr. Suresh G. Kare, Chairman & Managing Director said, “The global slowdown has portrayed many growth challenges to our nation and a considerable introspection and realignment of business strategies is required for corporate India to continue the growth momentum. We wish to assure our investors that Indoco’s performance in the Indian markets shows potential and our international business has shown overwhelming growth. Indoco’s growth strategies are well placed to progressively pursue higher growth, for both domestic and international business.”

Indoco has achieved a higher rank in the Secondary Sales Audit (SSA) carried out by ORG IMS for the month of December 2008 and has climbed 1 rank up to 32nd rank.


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Indoco Remedies Q2 net profit at 2.17 crore
October 31, 2008

Indoco Remedies Limited, a global pharmaceutical company registered a net profit of Rs. 2.17 crore and net sales of Rs. 78.62 crore for the second quarter ended September 2008. The Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on October 31, 2008 announced the second quarter results for the financial year 2008-09.

Commenting on the performance, Mr. Suresh G. Kare, Chairman & Managing Director said, “In the wake of global economic crisis, business weakness and concerns about the slow down in Indian economy, Indoco’s performance has been steady and our international business has shown overwhelming growth. Indoco’s growth strategies are well placed to progressively pursue higher growth, for both domestic and international business.”

HIGHLIGHTS:

For Second Quarter ended September 2008:

Net Sales at 78.62 crore
Net Profit at 2.17 crore
EPS at 1.77

Indoco has achieved a higher rank in the Secondary Sales Audit (SSA) carried by ORG IMS for the month of September 2008 and has climbed 3 ranks up to 29th rank.


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Indoco Remedies Q1 net profit at 24.6 crore
July 30, 2008

Indoco Remedies Limited, a global pharmaceutical company registered a 11.5 % increase in net profit and a 9.1% increase in net sales for the first quarter ended June 2008. Net sales stood at 109.5 crore and net profit at 24.6 crore. The Board of Directors of Indoco Remedies Limited at their meeting held in Mumbai on July 30, 2008 announced the first quarter results for the financial year 2008-09.

Commenting on the performance, Mr. Suresh G Kare, Chairman & Managing Director said, “The beginning of the fresh quarter for the financial year 2008 has been satisfactory for Indoco given the current economic scenario. Indoco strives to achieve higher growth and revenues for all its shareholders. I believe that the launch of new divisions and expansions in International markets will propel the company’s growth at the requisite pace going forward.”

HIGHLIGHTS:

For First Quarter ended June 2008:

Net Sales at 109.5 crore up 9.1%
EBIDTA at 30.4 crore up 7.4 %
Net Profit at 24.6 crore up 11.5 %
EPS at 20.02 up 11.5 %


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Indoco Remedies Q3 net profit up 249%
April 30, 2008

Indoco Remedies Ltd., a global pharmaceutical company registered a 249% increase in net profit and an 18.33% increase in net sales for the Quarter ended March 2008. Net sales were at 87.08 crores and net profits 7.32 crores.

For the nine months ended March 2008, net sales stood at 262.68 crores up 16.4% while the net profits for the same period were 30.01 crores up 50.28%.

Commenting on the performance, Suresh G Kare, Chairman & Managing Director said, “Production output at our Baddi facility is now at optimum levels and this has resulted in operational efficiencies. There has also been a considerable reduction in payouts associated with production outsourcing thereby resulting in better profitability and expansion in EBIDTA margins. Also in the Domestic market our top 6 brands have grown at over 16% in this period and this reaffirms Indoco’s strengths at Brand building.”

In 2007-08, Indoco announced the Joint Venture in USA to develop, manufacture and market Generic Ophthalmic Pharmaceuticals, the approvals of second ANDA, approvals for Goa Plants for Oral Solids, Creams & Liquid Dosage plant by MHRA-UK, Darmstadt Germany, TGA-Australia, MCC- South Africa and ANVISA-Brazil and Sterile facility for Opthalmics approved by USFDA and MCC-South Africa.

The Board of Directors of Indoco Remedies Limited at their meeting held on April 30, 2008 announced the results for the period 2007-08.

HIGHLIGHTS:

For nine months ended March 2008:

Net Sales at 262.68 cr up 16.4%
Net profit at 30.01 cr up 50.28%
EPS at 24.42 up 44.58%


For Quarter ended March 2008:

Net Sales at 87.08 cr up 18.33%
Net Profit at 7.32 cr up 248.57%
EPS at 5.95 up 234.83%


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Indoco Remedies Q2 net profit up by 23%
December 31, 2007

During the quarter ended December 31, 2007, the company has achieved a Turnover of Rs.94.93 Crores registering a growth of 15.91% over same quarter previous year. The Profit After Tax grew by 23.05% to Rs. 11.85 Crores. The company’s Baddi Plant has stabilized production output at optimum capacity thus resulting in operating efficiencies. The company has also considerably reduced payout due to Loan Licensing production thus resulting in better profitability and expansion of EBIDTA margins. Due to various efforts taken by the company, the EBIDTA for the quarter ended December 2007, has grown by 1.62% to 20.73% and Operating Profit has grown by 1.98% to 16.64% over same quarter previous year.


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Indoco Remedies Q1 FY08 net profit up 31.67%
October 31, 2007

Indoco Remedies has posted an impressive 31.67% rise in net profit in the first quarter ended September 30th 2007. The Company has reported Net Sales of Rs 84.43 crores, an increase of 16.21% over the corresponding quarter last year. The Profit Before Tax is Rs 13.08 crores compared to Rs 10.11 crores for the same period last year. The formulation exports were up 47% at Rs 16.41 crores.


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Indoco Remedies posts impressive performance in FY07
October 18, 2007

Revenues up 27.75% at Rs. 344.43 crores
Net Profit up 33.50% at Rs. 42.04 crores


Highlights :
  • Indoco Remedies & Amneal Pharmaceuticals Finalize Long Term Joint Venture agreement.
  • Revenue up 27.75% at Rs.344.43 crores.
  • Net Profit up 33.50% at Rs.42.04 crores.
  • Increased contribution of 62% from international business.
  • Indoco received the approval from the High Court of Bombay for amalgamation of its wholly owned subsidiary, La Nova and for the merger of Pharma Division of Spa Pharmaceuticals Ltd.
  • The Company also received the approval of High Court of Himachal Pradesh for amalgamation of its wholly owned subsidiary, Indoco Healthcare Ltd.
  • Commercial production of liquid manufacturing facility at Baddi commenced.
  • Sterile ophthalmic facility in Goa approved by USFDA and authorities of Brazil.
  • Launch of New Division Spera.


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The Shareholders of Indoco Remedies Ltd. Approve the Merger Proposal
June 18, 2007

Mumbai, 18th June, 2007: The shareholders of Indoco Remedies Limited today gave their nod at the court convened meeting of equity shareholders to approve the Composite Scheme of Merger and Demerger. 

As per the Composite scheme, La Nova Chem {India} Private Limited, the present wholly owned subsidiary of Indoco Remedies will merge with its holding company and the Pharmaceutical Division of SPA Pharmaceuticals will be demerged from it to merge with Indoco Remedies Limited. 

Upon the Scheme coming into effect the shareholders of SPA Pharmaceuticals will be entitled for 3 equity shares in Indoco Remedies Limited for every four equity shares held by them. 

The Composite Scheme has been devised to achieve synergy in terms of administration costs, flexibility of operations etc. The stakeholders would benefit by having a larger asset base and increased capacities with scope for future expansion. 

It is expected that post merger the domestic as well as international business of the combined company would be able to leverage its position from APIs and exports businesses.

The Scheme now awaits approval of the Hon’ble High court of Bombay before being implemented from the “Appointed Day”.


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Indoco Remedies posts impressive sales growth in Q3 FY07
April 26, 2007

PAT up 48%
Net sales up 53%
Exports up 73%


Mumbai, April 26, 2007 : Indoco Remedies today announced its financial results for the third quarter ended 31st March,2007.

The company has registered impressive growth in turnover and net profit for the the third quarter ended 31st March 2007. Net Sales grew by 53% while Net Profit for the quarter increased by 48%.

For the nine months period ended 31st March 2007, the Company posted 38% growth in Net Sales at Rs. 225.6crores, while Net Profit for the period grew by 27.7% and stood at Rs. 19.97crores.

Mr. Suresh Kare, Chairman & Managing Director, Indoco Remedies Ltd. said, “Our performance is a good indicator of how Indoco Remedies is on an exciting growth path. Our strong focus on R&D and increased thrust into existing and new export markets augur well for the company’s future”. 

Apart from commenting on the financial performance, Mr. Kare also shared some major developments within the company. Indoco Remedies made its first shipment of Ciprofloxacin eye drops to the USA, formulation facilities at Goa were inspected by Regulatory Authorities of South Africa and Brazil and the Baddi facility which went into production in April last year was expanded to manufacture Liquid orals.


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Indoco Remedies posts impressive sales growth in H1 FY06
January 24, 2007

Net profit up 26% at Rs.17.87 crs.,
Net sales up 32% at Rs.152.07 crs.


Performance highlights for H1 ended on December, 2006.

- Revenue up 26% at Rs. 163.76 crs.
- Domestic sales up 20% at Rs.127.06 crs.
- Exports sales up 84% at Rs.26.72 crs.
- Launch of New Division Warren Excel.
- Received USFDA approval for Ciprofloxacin, eye drops.

Mumbai, January 24, 2007 : Indoco Remedies today announced its financial results for the quarter ended December, 2006. The company’s financial year ends June, 2006.

The company has registered impressive growth in turnover and net profit for the half year ended December 2006. Net Sales at Rs.152.07 crs. was higher by 32% over the earlier year’s sales of Rs.115.06 crs. Net Profit at Rs.17.87 crs. was up by 26% for the half year. The Earnings per share (fully diluted) stood at Rs.15.12 for the half year.

The performance for the quarter ended December `06 was equally encouraging. Net Sales at Rs.79.42 crs. was higher by 28% over the earlier year’s sales of Rs.62.15 crs. Net Profit at Rs. 9.63 crs. was up by 24% for the quarter. Earnings per share (fully diluted) stood at Rs. 8.15 for the quarter.

Mr. Suresh G Kare, Chairman and Managing Director, Indoco Remedies Limited said, “Our performance in H1 has effectively demonstrated our commitment to grow the business globally. Exports grew impressively by 84%. This can mainly be attributed to the sustained exports to the regulated markets of Europe which have grown by 120%.

Apart from commenting on the financial performance, Mr. Kare also shared some major developments within the company. Indoco received USFDA approval for their ophthalmic product, Ciprofloxacin and the first shipment will be effected in February `07. The company has launched a new division by name Warren Excel in the southern states of the country to focus on ophthalmic and derma products. The division will soon cover the rest of the country.


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Consolidated Net Sales stood at Rs. 72.7 crore up by 37.30%
October 30, 2006

Consolidated PAT up 28.3% to Rs.8.2 crore

- Consolidated Net sales for Q1 FY07 grew by 37.3% to Rs.72.7 crore.
- Consolidated PAT for Q1 FY07 grew by 28.3% to Rs.8.2 crore.
- Exports register 67.12% increase to Rs.11.16 crore.

Mumbai, October 30, 2006: Indoco Remedies Ltd, one of the country’s fastest growing pharma companies has reported a growth of 37.3% in its Consolidated Net Sales at Rs72.7 crore, compared to Rs 52.9 crore in the corresponding period of the last year. Consolidated Net Profit of the company stood at Rs. 8.2 crore compared to Rs.6.4 crore for the corresponding period in the previous year, registering growth of 28.3%,

In April, 2006, Indoco has commissioned its state-of-the-art R&D Centre at Rabale, which is now fully operational, and also commenced production at its newly set up manufacturing facility at Baddi. The impact of the operational efficiency of Baddi plant and tax benefits thereof are reflected in the financial results.

Commenting on the results Mr. Suresh G. Kare, Chairman & Managing Director said: “Indoco’s growth is being driven by its emphasis on backward integration, strong marketing network in India, thrust on exports and the opportunities for CRAMS.” 


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INDOCO's FY06 Net Profit Up 25.8% to Rs.31.5 cr
August 10, 2006

Mumbai, 10 August, 2006: Indoco Remedies Ltd, one of the country’s fast growing pharma companies, announced a 24.9% jump in its consolidated revenue to Rs.269.6 cr. for the year FY06 (July-June), while the consolidated Net profit for same period stood at Rs.31.5 cr., compared to Rs.25.0 cr. in the preceding year, accounting for a growth of 25.8%. The Net Profit for the last quarter FY06 appears lower at Rs.15.9 cr., compared to Rs.19.3 cr. during the corresponding quarter of FY05, mainly on account of the VAT related issues and due to the commissioning of new R&D Centre and the manufacturing facility at Baddi. 

Indoco is focusing on exports to the regulated markets and entering the US market in the niche ophthalmology segment for business growth. In FY06, the Company received US FDA approval for its sterile ophthalmic preparations facility at Goa. This will facilitate the production and export of the Company's ophthalmic preparations to USA. Indoco has signed agreements with two generic companies in USA and will supply products from the Goa facility. The company is looking at filing a total of 7 ANDA’s by December 2006. The market size of the products aggregates to USD 1.1 bn. The exports to regulated markets of Europe grew by 76% in FY06.

Indoco also strengthened its API business by acquiring La Nova Chem’s API manufacturing facility and starting an API research & development center at Navi Mumbai. The new formulations facility at Baddi, an excise & tax free area, got fully operational in April,06, and will provide a boost to the Company’s bottom line. For the last 3 years, Indoco has shown a y-o-y growth of 22%. 

Commenting on the annual and Q4 results Mr. Suresh Kare, Chairman & Managing Director said: “With the infrastructure of a complete solution provider in place, and the strong business growth, Indoco is ready to leap to become a global player. In FY06, we focused on building our capabilities. Going forward, we will leverage our capabilities to increase business from CRAMS and generic space.” 


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Indoco Remedies posts impressive sales growth in Q3 of FY06 Net sales up 50.53% at Rs 48.07 cr
April 27, 2006

Key financial highlights for Q3 ended on March 31, 2006
- Revenue at 55.8 cr, up by 54.1% 
- Domestic market grows 58.0% to Rs 43.65 cr.
- Exports register 40.1% increase to Rs 9.88 cr.

Mumbai, April 27, 2006: Indoco Remedies’ net sales grew by 50.53% to Rs 48.07 cr for the 3rd quarter ended March 31, 2006 as against Rs 31.93 cr during the corresponding quarter of the previous year. Profit before interest, depreciation and tax increased to Rs 5.50 cr, from Rs 1.16 cr during the corresponding period of the previous year, which was affected by loss of sales due to VAT. 

For the nine months period ended March 31, 2006, the company has posted a 38.86% growth in net sales at Rs 163.13 cr compared to Rs 117.48 cr in the corresponding period of the previous year. Net profit during the nine months was Rs 15.64 cr, compared to Rs 5.77 cr during the corresponding period of the previous year. 

Commenting on the financial performance Mr Suresh G Kare, Chairman and Managing Director, Indoco Remedies Limited said, "With impressive growth in both the domestic and export markets, we expect to achieve a revenue growth of about 25% during the FY06.”

The company recently announced that it’s manufacturing plant at Baddi commenced operations. The company also announced the inauguration of its new R&D centre at Rabale in Navi Mumbai. 


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Indoco Remedies Q2 FY06 net profit up 10.6% at Rs 7.79 cr.,net sales up 45.03% at Rs 62.16 cr
January 24, 2006

Key financial highlights for Q2 ended for December 2005
- Revenue at 69.8 cr, up by 41.8% 
- Domestic market grows 39% to Rs 60.22 cr.
- Exports register 56.1% increase to Rs 7.82 cr.

Mumbai, Jaunary 24, 2006: Indoco Remedies has reported a 10.6% rise in net profit at Rs 7.79 cr for the second quarter ended December 31, 2005 as compared to Rs 7.05 cr in the corresponding quarter previous year. The company’s financial year ends June 30, 2006. Net sales grew by 45.03% to Rs 62.16 cr as against Rs 42.86 cr during the same quarter previous year. Profit before interest, depreciation and tax increased by 24.9% to Rs 13.34 cr from Rs 10.68 cr during the same period previous year. The Earnings per share (fully diluted) stood at Rs 12.03 as on December 31, 2005 

Commenting on the financial performance Mr Suresh G Kare, Chairman and Managing Director, Indoco Remedies Limited said, ‘’With impressive growth in both the domestic and export markets, we plan to increase our revenues by 25% to Rs 270 cr this fiscal.”

Meanwhile, the company has posted a 34.50% rise in net sales at Rs 115.06 cr for the six months period ended December 31, 2005 compared to Rs 85.54 cr in the corresponding period previous year. Net profit increased by 13.6% to Rs 14.22 cr compared to Rs 12.51 cr during the same period previous year. 


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