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Prabhudas Lilladher Report
Indoco Remedies Ltd. reported robust performance in a regulated market; management expects to maintain its growth momentum given strong order book and new launches.
Domestic market performed well on low base in therapies like anti-infective, cardiac and respiratory along with higher prescriptions. We remain structurally positive on Indoco Remedies on account of -
medical representative productivity enhancement and higher penetration in North and East markets,
new launches in U.S. and
higher tender business in Europe market.
Our FY23E and FY24E earnings per share stands reduced by 9% and 6% as we factor in lower margins.
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