Indoco Remedies Q4 Review - Growth Expectation Intact: Yes Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Yes Securities Report.Indoco Remedies Ltd. delivered better than expected revenue growth of 34% YoY with U.S. revenue driving a sharp growth YoY. This was further aided by strong show in domestic business on a low base. Management expects growth on this high base in FY23 led by rebound in Stomatologicals. Margins have fallen as raw material prices along with higher freight prices affected Q4. Indoco Remedies guides to a strong 40% growth in U.S. business as Brinzolamide market share ramp up and Combigan launch in July drive H2 revenues. We reckon U.S. business is dependent on these two key products along with ~six new launches in current fiscal. Indoco Remedies would also be shielded from price erosion due to ophthalmic nature of launches. Capex of Rs 550 million on three additional blocks comprising sterile and ophthalmic capacities should support growth in Europe and U.S..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Indoco Remedies Q4 Review - Growth Expectation Intact: Yes Securities

Indoco Remedies Q4 Review - Growth Expectation Intact: Yes Securities

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