Indoco Remedies Ltd : Indoco’s domestic business outperforms the industry growth rates
January 29, 2013 at 07:09 am EST
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January 29, 2013, Mumbai: Indoco Remedies Limited, a pharmaceutical company with global presence, recorded revenues at Rs.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)
Indoco Remedies Limited is an India-based manufacturer of pharmaceutical products. The Company is engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs). The Company offers medicines in multiple therapeutic categories, such as diabetology, respiratory, stomatology, women's health, nutritional products, gastroenterology, cardiology, metabolic disorders and primary care medicine. Its products/brands include Cyclopam, Sensodent-K, Karvol Plus, Sensoform, Cital UTI, Kidodent, Rexidin M, Lignox A, Dentogel, Aloja, Homide, Renolen, Noxa, Dexoren - S, Aloja M, ATM, Febrex Plus, Sensodent-KF, SM Fibro, MCBM 69, Cal Aid, Snowdent, Dropizin, Zincoren, Coloferrin, Bfloren, RR Sensoform Dental, Mofloren-D, and Tuspel among others. The Company caters to both domestic and international markets. Its subsidiaries include Xtend Industrial Designers and Engineers Pvt Ltd, Indoco Remedies Czech sro, and Indoco Remedies UK Limited.