INDOCO REMEDIES Announces Quarterly Results (1QFY22); Net Profit Up 132.7%

Mon, 16 Aug

INDOCO REMEDIES has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

INDOCO REMEDIES Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-20*	3 Mar-21*	3 Jun-21*	QoQ Change	YoY Change
Net Sales	Rs m	2,759	3,051	3,868	26.7%	40.2%
Other income	Rs m	3	20	9	-56.6%	230.8%
Turnover	Rs m	2,761	3,071	3,876	26.2%	40.4%
Expenses	Rs m	2,272	2,504	2,999	19.7%	32.0%
Gross profit	Rs m	487	547	869	58.8%	78.6%
Depreciation	Rs m	191	186	222	19.8%	16.2%
Interest	Rs m	58	46	42	-7.6%	-26.3%
Profit before tax	Rs m	240	336	613	82.6%	155.1%
Tax	Rs m	70	86	216	152.7%	209.4%
Profit after tax	Rs m	170	250	397	58.6%	132.7%
Gross profit margin	%	17.6	17.9	22.5
Effective tax rate	%	29.1	25.5	35.3
Net profit margin	%	6.2	8.1	10.2

Year-on-Year Performance:

• The company's operating income during the quarter grew 40.2% on a year-on-year (YoY) basis. The expenses were up by 32.0% YoY during the same period.
• The company's operating profit increased by 78.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.5% in 1QFY22 as against 17.6% in 1QFY21.
• Depreciation charges increased by 16.2% and finance costs declined by 26.3% YoY, respectively.
• Other income increased by 230.8% YoY during the quarter.
• Net profit for the quarter increased by 132.7% YoY. Net profit margins during the quarter increased from 6.2% in 1QFY21 to 10.2% in 1QFY22.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 26.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 19.7% QoQ during the same period.
• The company's operating profit increased by 58.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.5% in 1QFY22 as against 17.9% in 4QFY21.
• Net profit for the quarter increased by 58.6% QoQ, while net profit margins increased from 8.1% in 4QFY21 to 10.2% in 1QFY22.

To see how INDOCO REMEDIES has performed over the last eight quarters,please visit here.

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INDOCO REMEDIES Share Price Performance

Over the last one year, INDOCO REMEDIES share price has moved up from Rs 247.3 to Rs 476.0, registering a Gain of Rs 228.7 or around 92.5%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 25,872.9 (down 0.0%). Over the last one year it has moved up from 19,114.4 to 25,872.9, a gain of 6,759 points (up 35.4%).

Overall, the S&P BSE SENSEX is up 45.0% over the year.

Current Valuations

At the current price of Rs 476.0, the price to earnings (P/E) ratio of INDOCO REMEDIES stands at 37.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.5 times.