INDOCO REMEDIES Announces Quarterly Results (2QFY20); Net Profit Up 194.1%

Tue, 5 Nov

INDOCO REMEDIES has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

INDOCO REMEDIES Quarterly Financials

No. of Mths Qtr. Ending		3 Sep-18*	3 Jun-19*	3 Sep-19*	QoQ Change	YoY Change
Net Sales	Rs m	2,356	2,527	2,920	15.6%	23.9%
Other income	Rs m	3	6	6	-9.4%	75.8%
Turnover	Rs m	2,360	2,533	2,926	15.5%	24.0%
Expenses	Rs m	2,238	2,299	2,598	13.0%	16.1%
Gross profit	Rs m	118	228	321	41.3%	172.1%
Depreciation	Rs m	177	170	180	6.2%	2.2%
Interest	Rs m	50	61	54	-12.3%	7.2%
Profit before tax	Rs m	-105	3	93	3225.0%
Tax	Rs m	-27	-19	20
Profit after tax	Rs m	-78	22	73	236.2%
Gross profit margin	%	5.0	9.0	11.0
Effective tax rate	%	26.0	-678.6	21.3
Net profit margin	%	-3.3	0.9	2.5

Year-on-Year Performance:

• The company's operating income during the quarter grew 23.9% on a year-on-year (YoY) basis. The expenses were up by 16.1% YoY during the same period.
• The company's operating profit increased by 172.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.0% in 2QFY20 as against 5.0% in 2QFY19.
• Depreciation charges increased by 2.2% and finance costs increased by 7.2% YoY, respectively.
• Other income increased by 75.8% YoY during the quarter.
• Net profit for the quarter increased by 194.1% YoY. Net profit margins during the quarter increased from -3.3% in 2QFY19 to 2.5% in 2QFY20.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 15.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 13.0% QoQ during the same period.
• The company's operating profit increased by 41.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.0% in 2QFY20 as against 9.0% in 1QFY19.
• Net profit for the quarter increased by 236.2% QoQ, while net profit margins increased from 0.9% in 1QFY19 to 2.5% in 2QFY20.

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 down from Rs 184.6 to Rs 161.0, registering a Loss of Rs 23.6 or around 12.8%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,336.2 (up 0.1%). Over the last one year it has moved down from 14,469.9 to 13,336.2, a gain of 1,134 points (down 7.8%).

Overall, the S&P BSE SENSEX is up 15.4% over the year.

Current Valuations

At the current price of Rs 161.0, the price to earnings (P/E) ratio of INDOCO REMEDIES stands at 56.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.2 times.