Indoco Remedies Limited (INDOCO) AI Stock Analysis

• Market Cap: ₹25.24B
• Dividend Yield: 0.54%
• Average Volume (3M): 4.45K
• Price to Earnings (P/E): 96.2
• Beta (1Y): 1.30
• Revenue Growth: -8.28%
• EPS Growth: -246.17%
• Country: IN
• Employees: 6,000
• Sector: Healthcare
• Sector Strength: 51
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): -3.90
• Shares Outstanding: 92,247,900
• 10 Day Avg. Volume: 3,877
• 30 Day Avg. Volume: 4,450
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹294.00
• Price Target Upside: 7.81% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 47 Neutral
• Price Target: ₹294.00 ▲(7.81% Upside)

Indoco Remedies Limited's overall stock score is primarily impacted by its weak financial performance, characterized by declining revenue, negative profitability, and cash flow issues. The technical analysis suggests a bearish trend, with indicators pointing towards potential oversold conditions. Valuation metrics further highlight concerns, with a negative P/E ratio and low dividend yield. The absence of earnings call data and notable corporate events leaves these factors unaddressed.

Indoco Remedies Limited Business Overview & Revenue Model

Company Description

Indoco Remedies Limited (INDOCO) is a pharmaceutical company based in India, engaged in the manufacturing and marketing of a wide range of pharmaceutical formulations. The company operates in various sectors, including prescription drugs, over-the-counter (OTC) products, and active pharmaceutical ingredients (APIs). Indoco's core products include generics, branded generics, and APIs, catering to various therapeutic segments such as anti-infectives, anti-diabetics, cardiovascular, anti-cancer, and respiratory medications.

How the Company Makes Money

Indoco Remedies Limited generates revenue primarily through the sale of its pharmaceutical products. The company's revenue streams include domestic sales within India and international sales, with exports to several countries. Its product portfolio comprises generic and branded generic drugs, which are sold to healthcare institutions, pharmacies, and distributors. Additionally, Indoco earns income from its active pharmaceutical ingredients (API) business, supplying these critical components to other pharmaceutical manufacturers. The company also leverages strategic partnerships and collaborations for research, development, and marketing of its products, enhancing its market reach and contributing to its earnings.

Indoco Remedies Limited Financial Statement Overview

Summary

Indoco Remedies Limited has faced significant financial challenges in 2025, with declining revenue, negative profitability, and cash flow constraints. The increase in debt levels poses a risk to financial stability, while operational struggles are evident in the income statement. The company needs to address these issues to improve its financial health and return to a positive growth trajectory.

Income Statement

The company experienced a decrease in revenue from 2024 to 2025 and reported a negative net income in 2025, indicating challenges in maintaining profitability. Gross profit margin decreased significantly in 2025, and both EBIT and EBITDA margins were negative, highlighting operational struggles. Prior years showed better profitability, but the recent performance suggests a downward trajectory.

Balance Sheet

The debt-to-equity ratio increased due to rising debt levels, indicating higher financial leverage. The equity ratio remained stable, suggesting moderate balance sheet stability. However, return on equity dropped significantly due to negative net income in 2025, reflecting inefficiencies in generating returns for shareholders.

Cash Flow

The company reported negative free cash flow in 2025, indicating cash outflows exceeding inflows. Operating cash flow to net income ratio worsened, reflecting challenges in converting earnings to actual cash. The free cash flow to net income ratio was negative, further emphasizing cash management issues.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	17.16B	16.65B	17.88B	16.40B	15.04B	12.19B
Gross Profit	8.22B	6.59B	6.03B	11.19B	5.92B	8.59B
EBITDA	1.76B	1.06B	2.65B	2.88B	3.25B	2.27B
Net Income	-106.40M	-737.40M	984.60M	1.42B	1.55B	930.46M
Balance Sheet
Total Assets	0.00	24.30B	21.45B	16.58B	14.86B	13.15B
Cash, Cash Equivalents and Short-Term Investments	417.30M	170.70M	221.00M	119.25M	416.17M	115.18M
Total Debt	0.00	9.94B	6.72B	3.33B	2.57B	2.67B
Total Liabilities	-10.89B	14.12B	10.34B	6.30B	5.81B	5.46B
Stockholders Equity	10.89B	10.22B	11.10B	10.28B	9.05B	7.69B
Cash Flow
Free Cash Flow	0.00	-3.28B	-2.71B	-284.30M	485.05M	53.73M
Operating Cash Flow	0.00	278.90M	1.57B	1.79B	1.74B	822.22M
Investing Cash Flow	0.00	-3.44B	-4.38B	-2.08B	-1.21B	-666.93M
Financing Cash Flow	0.00	3.09B	3.19B	228.10M	-443.72M	-298.73M

Indoco Remedies Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 272.70
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDOCO, the sentiment is Neutral. The current price of 272.7 is below the 20-day moving average (MA) of 283.74, below the 50-day MA of 304.50, and below the 200-day MA of 281.64, indicating a neutral trend. The MACD of -8.15 indicates Positive momentum. The RSI at 46.22 is Neutral, neither overbought nor oversold. The STOCH value of 44.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:INDOCO.

Indoco Remedies Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ADVENZYMES	73 Outperform	₹37.92B	27.71		1.54%	5.89%	-1.30%
ALEMBICLTD	68 Neutral	₹26.76B	8.61		2.31%	28.84%	13.01%
SMSPHARMA	56 Neutral	₹20.78B	27.48		0.17%	10.29%	26.79%
Sector *	51 Neutral	$7.91B	-0.36	-41.71%	2.23%	23.45%	-1.86%
ZOTA	49 Neutral	₹39.93B	―		0.08%	71.72%	-125.44%
INDOCO	47 Neutral	₹25.24B	96.22		0.54%	-8.28%	-246.17%
PANACEABIO	46 Neutral	₹24.99B	217.88		―	11.80%	―