Indoco Remedies (INDOCO) Q4 10/11 earnings summary

Executive summary

• FY2010-11 total income rose 20.8% to ₹48,647 lakh; PBT increased 31.2% to ₹5,659 lakh and PAT rose 21.4% to ₹5,112 lakh.

• Domestic and international businesses grew, with international revenue up 31.8%; higher capex and borrowing supported manufacturing expansion.

Financial highlights

• Net sales were ₹47,847 lakh versus ₹39,829 lakh; gross sales including excise duty were ₹48,356 lakh versus ₹40,231 lakh.

• EBITDA was ₹8,177 lakh versus ₹6,829 lakh; operating profit rose 23.9% to ₹6,589 lakh.

• PBT was ₹5,658 lakh versus ₹4,313 lakh; PAT was ₹5,112 lakh versus ₹4,209 lakh.

• Basic and diluted EPS increased to ₹41.60 from ₹34.26.

Outlook and guidance

• FY2011-12 priorities include expanding emerging-market registrations, dossier filings in Europe, and launches timed to patent expiry.

• Ophthalmics remain a growth focus, alongside higher-value dermatology, controlled substances, NDDS and analytical services.

• Goa III oral-solids facility was expected to become operational in Q1 FY2011-12, subject to regulatory audits and approvals.