INDOCOHealthcare

Indoco Remedies Limited

Pharmaceuticals · ISIN INE873D01024 · BSE 532612 · NSE EQ · FV ₹2
Last price
₹254
+0.17%today
What this company does

Indoco Remedies Limited operates in Pharmaceuticals, part of the Healthcare sector. It booked ₹468 cr of revenue in its latest quarter (Q1 FY27) and kept 13.9% of sales as profit.

61out of 100
Equitytale Health Score
Mixed

Healthier than 61% of companies in Healthcare, on all six measures of filed financials. Each measure is ranked against the 105–150 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
54

At close. Not part of the score.

Profitability & returns82

How much profit it earns on the money it employs

Balance sheet12

How much it owes, and whether earnings cover the interest

Cash quality58

Whether reported profit actually arrives as cash

Growth & consistency38

Whether sales and profit have grown, and how steadily

Valuation89

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 7% vs last year
Promoters hold 59%
No promoter shares pledged
Strong 28% return on equity
Turns profit into real cash
Watch-outs
! Carries high debt (D/E 1.1)

What if I invest in INDOCO?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹254 +0.17%
latest close · 2026-09-17
1-year return
-43.2%
52-wk low ₹21452-wk high ₹518
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio9.0Low
LowAverageHigh
P/B ratio2.50Moderate
Below bookModerateHigh
EV / EBITDA6.0Low
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity27.7%Strong
WeakFairStrong ▸15%
Return on capital27.5%Strong
WeakFairStrong
Net margin13.9%Decent
ThinDecentStrong
EBITDA margin30.1%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity1.11High
LowModerateHigh ▸1
Interest cover3.7×Okay
RiskyOkayStrong ▸5×
Current ratio1.13Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹2,348 cr
Book value
₹102
EPS
₹7.09
latest quarter
Net debt
₹1,010 cr
owes more than its cash
Enterprise value
₹3,358 cr
EBITDA
₹562 cr
annualised
EBIT
₹424 cr
annualised
Operating margin
22.7%
Return on assets
10.0%
Earnings yield
11.15%
P/S
1.26
Sales / share
₹202.6
Tax rate
15.8%
Face value
₹2
Shares
9.2 cr
Working capital
₹141 cr
Current assets
₹1,193 cr
Current liabilities
₹1,053 cr
Delivery %
32.4%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the exchange filings
not investment advice
Hard to value confidentlyLow confidence
The company's latest annual profit was negative, so we won't call it cheap off older profits.
Models span ₹152₹152, midpoint ₹152

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹468 cr
Other Income₹2 cr
Total Income₹470 cr
Cost of Materials₹105 cr
Purchases of Stock-in-Trade₹40 cr
Inventory Change (±)₹14 cr
Employee Benefit Expense₹101 cr
Finance Costs₹28 cr
Depreciation & Amortisation₹35 cr
Other Expenses₹167 cr
Total Expenses₹489 cr
Exceptional Items₹97 cr
Profit before Tax₹78 cr
Tax Expense₹12 cr
Net Profit₹65 cr
Net margin on total income13.9%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹158 cr27.9%
Employee benefit expense₹101 cr17.9%
Finance costs₹28 cr5.0%
Depreciation & amortisation₹35 cr6.1%
Other expenses₹167 cr29.5%
Tax expense₹12 cr2.2%
Profit for the period₹65 cr11.5%
Total income ₹470 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue445 cr476 cr468 cr
Total income446 cr476 cr470 cr
Expenses472 cr504 cr489 cr
Profit before tax-31 cr-25 cr78 cr
Tax-2 cr-1 cr12 cr
Net profit (owners' share)-30 cr-22 cr65 cr
Net margin (owners' share, on revenue)-6.7%-4.5%13.9%
EPS (₹)-3.20-2.577.09
YoY (latest quarter): total income +6.9% · net profit
Balance sheet & cash flow · as of Mar 2026
High debt
Total assets
₹2,593 cr
Shareholder equity
₹939 cr
parent shareholders
Total debt
₹1,036 cr
Cash
₹26 cr
Cash flow · H1 FY26
Operating
₹158 cr
Investing
₹-60 cr
Financing
₹-98 cr
Peer comparison
Pharmaceuticals · by market value
CompanyPriceMarket capP/E
Sun Pharmaceutical Industries Limited₹1,867₹4.48 L cr38.6
Divi's Laboratories Limited₹9,323₹2.47 L cr68.7
Torrent Pharmaceuticals Limited₹4,875₹1.65 L cr82.0
Zydus Lifesciences Limited₹1,135₹1.13 L cr30.4
Cipla Limited₹1,376₹1.11 L cr35.2
Laurus Labs Limited₹1,948₹1.05 L cr71.5
Dr. Reddy's Laboratories Limited₹1,175₹98,113 cr55.1
Aurobindo Pharma Limited₹1,690₹97,243 cr23.7
Lupin Limited₹2,098₹95,936 cr16.9
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.08%
trailing 12 months
Dividend / share (TTM)
₹0.2
Last dividend
₹0.2
ex 10 Sep 2026
ActionDetailEx-date
Dividend₹0.2 / share10 Sep 2026
Dividend₹0.2 / share4 Sep 2025
Dividend₹1.5 / share19 Sep 2024
Dividend₹2.25 / share18 Sep 2023
Dividend₹1.5 / share14 Sep 2022
Dividend₹0.75 / share14 Sep 2022
Who owns it · 2026-06-30
No pledge
Promoter
58.9%
FII / Foreign
1.3%
DII / Domestic
17.7%
Retail / others
22.0%
Promoter stake up 0.1% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtARUNA SURESH KARE · Promoter14,526 · ₹34.6 L8 Sep 26
BoughtSURESH G KARE · Promoter and Director14,534 · ₹34.6 L8 Sep 26
BoughtMADHURA SURESH KARE · Promoter4,900 · ₹11.5 L8 Sep 26
Bulk / block deals
BoughtNK SECURITIES RESEARCH PRIVATE LIMITED · NSE7.63 L @ ₹275.582 Sep 26
SoldNK SECURITIES RESEARCH PRIVATE LIMITED · NSE7.63 L @ ₹275.762 Sep 26
SoldMICROCURVES TRADING PRIVATE LIMITED · NSE9.09 L @ ₹275.972 Sep 26
Stake changes
BoughtMs. Aditi M Panandikar · promoter→ 3.17% · 5,00031 Aug 26
BoughtMs. Madhura Suresh Kare · promoter→ 2.69% · 5,00031 Aug 26
BothKare Family Pvt. Trust · promoter→ 14.21% · 55.35 L26 Dec 25
Promoter pledges
ReleasedKotak Securities Ltd3,700 · 0.00% held15 Dec 17
PledgedKotak Mahindra Bank3,700 · 0.00% held30 Jun 16
What shareholders were asked to approve
1 proposal passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 11 Sep 2025
See the official result
1
To receive,consider and adopt; a) The Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2025 and the Reports of the Board of Directors and the Auditors thereon; b) The Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025 and the Report of the Auditors thereon.
Backed by 60% of shareholders other than promotersneeded 50%
1.28 cr votes for, 86.30 L against · 50% of mutual funds and other big investors said no
2
To declare a final dividend of Rs. 0.20 (Twenty Paise only) per equity share for the financial year ended March 31, 2025
Backed by 100% of shareholders other than promotersneeded 50%
2.15 cr votes for, 166 against · 0% of mutual funds and other big investors said no
3
To appoint a Director in place of Dr. Anand M Nadkarni (DIN:06881461), who retires by rotation and being eligible, offers himself for re-appointment.
Backed by 100% of shareholders other than promotersneeded 50%
2.15 cr votes for, 366 against · 0% of mutual funds and other big investors said no
4
To ratify the remuneration of the Cost Auditors for the financial year 2025-2026
Backed by 100% of shareholders other than promotersneeded 50%
2.15 cr votes for, 166 against · 0% of mutual funds and other big investors said no
6
To re-appoint Dr. (Ms.) Vasudha V Kamat (DIN: 07500096) as an Independent Director of the Company.
⚑ Passed only because promoters voted yes
Backed by 60% of shareholders other than promotersneeded 75%
1.28 cr votes for, 86.30 L against · 50% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 16 named members
owning 58.9% between them · as of 2026-06-30
SPA HOLDINGS PVT LTD19.86%
SHANTERI INVESTMENT PVT LTD17.18%
KARE FAMILY PRIVATE TRUST14.19%
PANANDIKAR ADITI MILIND3.16%
MADHURA SURESH KARE2.69%
KARE SURESH GOVIND1.40%
SURESH GOVIND KARE HUF (Karta- Suresh Govind Kare)0.30%
SHARDA RAMNATH KARE0.04%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.