ICICI Direct: Indoco Remedies’ Exports Drive Q2 Growth; Domestic Yet To Normalise  
A laboratory technician watches as a machine checks tablets for any imperfections in the laboratory. (Photographer: Krisztian Bocsi/Bloomberg)

ICICI Direct: Indoco Remedies’ Exports Drive Q2 Growth; Domestic Yet To Normalise  

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Indoco Remedies Ltd.’s Q2 FY21 revenues grew 12.2% YoY to Rs 328 crore with export formulations growing 63.7% YoY to Rs 121 crore partly offset by 6.2% YoY fall in domestic formulations to Rs 175 crore.

Active pharmaceutical ingredient segment de-grew 2.4% YoY to Rs 22.8 crore.

Ebitda margins expanded 735 basis points YoY to 18.5% on account of better gross margin performance and lower travel and promotional expenses.

Subsequent Ebitda grew 86.1% YoY to Rs 60.7 crore.

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ICICI Direct Indoco Q2FY21 Result Update.pdf

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