Indoco Remedies Q1 Review - At An Inflexion Point: Systematix

A technician inspects a tray full of pills at the end of the production line. (Photographer: Jonathan Drake/Bloomberg News)

Indoco Remedies Q1 Review - At An Inflexion Point: Systematix

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.

Systematix Research Report

Indoco Remedies Ltd. reported strong Q1 FY22 performance across key segments, with India/U.S. business growth of 54%/40% QoQ respectively.

While Ebitda missed our estimates, it was more on account of a timing issue as the Brinzolamide profit share from its partner Teva is deferred to Q2 FY22.

Underlying trends remain strong and Indoco Remedies is on track to deliver a 60% earnings per share compound annual growth rate over FY21-23E.

The management’s guidance of achieving 30% plus revenue growth in India now seems more achievable with strong growth of 46% YoY in Q1 and the trend continuing in July.

Click on the attachment to read the full report:

Systematix Indoco Remedies Q1FY22 Result Update.pdf

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