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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.
- TimeTickerHeadlineOpen
- 6 FebSCW
Revenue at 15.86 mln PLN, backlog 17.14 mln PLN, and major space contracts drive 2025 outlook. - 6 FebSCW
Space segment growth drove a 21% revenue increase in Q3 2024, with a strong contract backlog. - 6 FebPENG
All proposals passed, with no questions raised during the Q&A session. - 6 FebSCW
Q2 2024 revenue up 115% y/y, backlog nearly doubled, Space segment leads growth. - 6 FebPECO
2026 FFO per share growth guided at 5.5% with record occupancy and strong acquisitions. - 6 FebISCTR
Net profit up 90% in 2025, with strong NIM, fee growth, and positive 2026 outlook. - 6 FebSCW
Q2 2025 revenue surged 120% y/y, driven by a record Asian contract and a tripled backlog. - 6 FebSCW
Q1 2025 revenue jumped 97% year-over-year, with strong backlog and major new contracts secured. - 6 FebSCW
Q3 revenue up 39% y/y, backlog at 58.3 mln PLN, Space leads growth with global contracts. - 6 FebGHM
Q3 FY26 delivered 21% revenue growth, record backlog, and raised full-year guidance.
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