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Nirmal Bang Report
We hosted the management of Indoco Remedies Ltd. for an investor interaction. The key takeaways from our discussion are as follows:
active pharma ingredient prices have been rising incessantly from the beginning of October 2021,
shortage of glass vials for its injectable products, as majority of the vials is used for Covid-19 vaccines,
shortage of incoming containers from China.
It has been a challenge to source products from the global markets, which has also led to higher container costs and delay in shipments. Although the company has actively tried to mitigate risks, raw material inflation and freight costs may still have some residual impact on margins.
Indoco Remedies expects some easing of the two challenges by the end of January 2022 and is confident about a better Q4 FY22.
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