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Indoco Remedies - India Business Revival To Trigger Price-To-Earnings Multiple Expansion In FY22: Prabhudas Lilladher 

Indoco Remedies - India Business Revival To Trigger Price-To-Earnings Multiple Expansion In FY22: Prabhudas Lilladher

Tablets exit a machine. (Photographer Krisztian Bocsi/Bloomberg)
Tablets exit a machine. (Photographer Krisztian Bocsi/Bloomberg)

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.

Prabhudas Lilladher Report

Indoco Remedies Ltd.’s Q3 FY21 revenue were in-line with our estimate based on growth led by export formulations while Ebitdam beat of 90 basis points due to operating leverage through cost saving program.

We maintain our positive outlook on the company and believe -

1. Medical representative productivity would improve to Rs 3 lakhs/month (from Rs 2.5 lakh/month) with similar headcounts of field force,

2. India formulations growth to return to 10- 12% from FY22,

3. U.S. launch of ophthalmic and oral abbreviated new drug applications in partnerships and

4. lower remediation cost as regulatory issue is resolved.

Click on the attachment to read the full report:

Prabhudas Lilladher Indoco Remedies Q3FY21 Result Update.pdf

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