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Indoco Remedies (INDOCO) investor relations material
Indoco Remedies Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 saw improved performance, especially in exports and APIs, with subsidiaries FPP (US) and Warren Remedies (OTC) showing strong growth.
Unaudited standalone and consolidated financial results for Q3 and nine months ended 31 December 2025 were approved, with statutory auditors issuing an unmodified opinion.
Two new OTC toothpaste products launched in India, expanding the sensitivity and clean toothpaste segments.
Domestic business was flat due to challenges in acute therapies, but prescription growth and new introductions remain robust.
Patalganga API site received EIR for USFDA audit, and the company won a workplace award.
Financial highlights
Standalone Q3 revenue: ₹38,957 lakhs, up from ₹36,491 lakhs YoY; consolidated Q3 revenue: ₹43,434 lakhs, up from ₹40,245 lakhs YoY.
Standalone EBITDA for Q3: ₹2,590 lakhs, up 29% YoY; standalone EBITDA margin improved to 6.6% (₹259 million) from 5.5% YoY; consolidated EBITDA margin rose to 7.3% (₹315 million) from 3% YoY.
Standalone Q3 net loss: ₹2,000 lakhs vs. net profit of ₹1,505 lakhs YoY; consolidated Q3 net loss: ₹2,945 lakhs vs. net loss of ₹2,840 lakhs YoY.
International formulation revenues grew 26.2% YoY to INR 1,356 million; US up 21.6%, Europe up 36.9%, emerging markets up 26.8%.
API business revenues grew 24% YoY to INR 344 million.
Outlook and guidance
Expecting improved performance in Europe in Q4 as supply constraints ease and new approvals come through.
European business targeted to grow at 20%+ annually, with aspirations to reach INR 400-500 crore by FY28-29.
OTC business expected to grow at least 30% next year, driven by brand extensions and increased marketing.
API business anticipated to ramp up further as new sites are validated and approved, with internal transfers already at INR 200 crore run rate.
Company continues to monitor regulatory changes, especially the impact of new labour codes.
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Profit fell 16% to RMB48.9B, but cost cuts and a 75% payout ratio were maintained. - 386
Net profit and revenue fell on lower oil prices and weak margins, despite improved cash flow. - DNLM
Sales and digital growth, margin expansion, and strategic investments drive strong FY25 results. - DNLM
Sales up 3.8% to £1,771m, profit before tax £211m, digital sales 40%, market share 7.9%. - 9412
Profits and equity improved, with upward revisions to full-year forecasts and new subsidiaries added. - NVDA
AI is transforming enterprises by enabling intent-driven innovation and technology-first strategies. - DNLM
H1 sales up 3.6% to £926m; digital mix 41%; PBT to hit lower end of consensus. - CRW
Double-digit growth, strong cash flow, and new leadership drive confidence for FY25. - 7011
Strong revenue and profit growth in FY2025, with raised guidance and key divestiture impact. - 8053
Profit attributable to owners dipped 1.9% despite higher revenues and strong FX gains.
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