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RELEASES :
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Indoco Remedies Q1 net profit at 24.6 crore
July 30, 2008 |
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Indoco Remedies Q3 net profit up 249%
April 30, 2008 |
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Indoco Remedies Q2 net profit up by 23%
December 31, 2007 |
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Indoco Remedies Q1 FY08 net profit up 31.67%
October 31, 2007 |
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Indoco
Remedies posts impressive performance in FY07
October 18, 2007 |
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The Shareholders of Indoco Remedies Ltd. Approve the Merger
Proposal
June 18, 2007 |
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Indoco Remedies posts impressive sales growth in Q3
FY07
April 26, 2007 |
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Indoco Remedies posts impressive sales growth in H1 FY06
January 24, 2007 |
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Consolidated Net Sales stood at Rs. 72.7 crore up by 37.30%
October 30, 2006 |
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INDOCO's FY06 Net Profit Up 25.8% to Rs.31.5
cr
August 10, 2006 |
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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 |
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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 |
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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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