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Indoco Remedies Ltd.

BSE: 532612 Sector: Health care
NSE: INDOCO ISIN Code: INE873D01024
BSE 10:33 | 24 Apr 220.00 -0.80
(-0.36%)
OPEN

221.15

HIGH

221.20

LOW

219.00

NSE 10:29 | 24 Apr 220.00 1.35
(0.62%)
OPEN

220.00

HIGH

221.65

LOW

217.00

OPEN 221.15
PREVIOUS CLOSE 220.80
VOLUME 308
52-Week high 317.00
52-Week low 179.00
P/E 52.51
Mkt Cap.(Rs cr) 2,027
Buy Price 220.05
Buy Qty 33.00
Sell Price 221.80
Sell Qty 33.00
OPEN 221.15
CLOSE 220.80
VOLUME 308
52-Week high 317.00
52-Week low 179.00
P/E 52.51
Mkt Cap.(Rs cr) 2,027
Buy Price 220.05
Buy Qty 33.00
Sell Price 221.80
Sell Qty 33.00

Indoco Remedies Ltd. (INDOCO) - Chairman Speech

Company chairman speech

Dear Stakeholders

We take pleasure in informing you that your Company has registered a growth of 8.8%despite the challenges largely caused by headwinds on account of changes in Governmentpolicies in the Indian Market and Regulatory issues in the International market.

The first half of the year FY17 showed good growth in sales of our Domestic FormulationBusiness. However in the second half of FY17 the Government's demonetization initiativedid impact the consumption pattern which affected some of the therapeutic segments.

On the International Business front the Company has given a detailed response to theUSFDA to their warning letter and is hopeful to tide over this matter at the earliest. TheCompany has filed 42 ANDAs till now of which 10 ANDAs were filed during the yearincluding 3 first-to-file(FTFs).

Looking forward Indoco's business prospects seem to be positive as business from USis expected to grow rapidly once the issue related to warning letter is resolved. Whilesurging ahead in the Regulated Markets Indoco is also strengthening its position in theDomestic and Emerging Markets through active brand promotion.

With the smooth integration of a recently acquired manufacturing facility at Baddi andCRO facility in Hyderabad the Company is now completely equipped to cater to the risingdemands from its Customers.

We express our gratitude to all our Stakeholders including shareholders customersbankers and the medial fraternity for their trust and support in the Organization. Wethank all Indocoites for their involvement which we value the most.

Thanking you all

Suresh G. Kare Chairman

Aditi Panandikar Sundeep V. Bambolkar
Managing Director Jt. Managing Director