During the Tuesday trading session, the shares of one of the Leading pharmaceuticals company in India jumped upto 9.5 percent in the days trade upon strategic collaboration with Clarity Pharma, UK, to launch over 20 new products.
Price action
With the market capitalization of Rs.2968 crores on Tuesday, the shares of Indoco Remedies ltd jumped upto 9.5 percent making an Intraday high at Rs.355 compared to its previous closing price of Rs.322.
What happened
Indoco Remedies Ltd a research based pharma company has announced it has partnered with Clarity Pharma, UK, with plans to launch around 20 products over the next 18 months while continuing existing B2B supply arrangements with its clients.
About the company
Indoco Remedies Limited, incorporated as a Public Limited Company in August 23, 1947 is a Mumbai-based pharmaceutical company that focuses on formulations with some presence in contract manufacturing and research.
It is a fully integrated, research-oriented pharma Company with presence in over 55 countries,with operations in the manufacturing and marketing of pharmaceutical Formulations (Finished Dosage Forms) and Active Pharmaceutical Ingredients (APIs)
Financials
The company’s revenue declined by 10 percent, from Rs 482 crore in Q2FY24 to Rs 433 crore in Q2FY25. Meanwhile, Net profit saw a decline from a profit of Rs 35 crores to a loss of Rs 10 crore during the same period.
Key Financial ratios
Indoco Remedies Limited has a Return on Equity (RoE) of 2.25% and a Return on Capital Employed (RoCE) of 5.19% and Furthermore, the company’s debt-to-equity ratio is 0.77.
Stock Performance
The stock has provided impressive returns of about 7.16 percent over the last six months, along with a decent 3.03 percent gain in the last month of 2024, it has continued to perform strongly.
Written by Sridhar J
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