Indoco Remedies: Exports Drive Growth; Domestic Yet To Normalise, Says ICICI Direct
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ICICI Direct Report
Amid strong recovery in the export business, the company’s overall revenues grew 10.8% to Rs 604 crore. Domestic market growth was subdued amid Covid-19.
Ebitda margins improved 800 basis points to 18.1% mainly due to better product mix and lower travel and promotional expenses.
Subsequent Ebitda grew 98.7% YoY to Rs 109.7 crore. Net profit for first half of the year came in at Rs 42.7 crore (up 342% YoY) versus Rs 9.7 crore in H1 FY20.
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