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Indoco Remedies Ltd.

BSE: 532612 Sector: Health care
NSE: INDOCO ISIN Code: INE873D01024
BSE LIVE 15:40 | 18 Aug 193.70 -2.10
(-1.07%)
OPEN

191.90

HIGH

196.85

LOW

186.70

NSE 15:31 | 18 Aug 194.85 -0.15
(-0.08%)
OPEN

195.00

HIGH

195.00

LOW

190.00

OPEN 191.90
PREVIOUS CLOSE 195.80
VOLUME 6961
52-Week high 360.35
52-Week low 179.00
P/E 49.67
Mkt Cap.(Rs cr) 1,785
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 191.90
CLOSE 195.80
VOLUME 6961
52-Week high 360.35
52-Week low 179.00
P/E 49.67
Mkt Cap.(Rs cr) 1,785
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Indoco Remedies Ltd. (INDOCO) - Chairman Speech

Company chairman speech

Dear Stakeholders

The financial year 2014-15 has been a good year for your Company with net revenues at X848.9 crores with 18.3% growth. Domestic business grew by 14.9% at Rs 530.1 crores and theinternational business grew by 24.6% at Rs 316.8 crores. Earnings before InterestDepreciation Tax & Amortization (EBIDTA) improved significantly at 19.5 % of the netrevenue. Profit After Tax (PAT) for the year is 9.8 % at X 82.8 crores.

India's Gross Domestic Product (GDP) for the year recorded a growth of 7.3% indicatingthat the macroeconomic situation is improving. As the pharmaceutical industry growth isdirectly related to the GDP growth our domestic business is expected to see a good growthmomentum. Your Company has therefore re-structured the marketing divisions to sharpenthe pattern of coverage of different doctor specialties. To further augment its marketgrip your Company will also expand its manpower strength across the marketing divisions.

The year was also marked by successful launch of two ophthalmic products in the US andreceipt of a few tentative approvals for sterile products filed through our marketingpartner. Keeping in line with the upcoming trends and developments in global marketIndoco is adopting strategies to build on its core competencies viz. research &development and manufacturing.

With acquisition of a Clinical Research Organization (CRO) your Company is nowcompletely integrated and will remain a preferred partner offering complete solutions togeneric companies worldwide. Your Company will require further investments in Capex foradditional pilot plant new vial line for sterile products and a new API facility. Theseinitiatives will enhance the manufacturing capacity and speed up ANDA / Dossier filings inthe US as well as Europe.

You must have observed that the years of hard work investments over a period of timeand execution of well planned strategies have now started yielding results. Theimprovements in financials make us strongly believe that your Company is now on the cuspof attaining newer heights and broadening its horizons.

During the year your Company re-inforced its Corporate Social Responsility (CSR)activities under the banner of 'Sumati Sangopan' by initiating various new projects atdifferent locations in the areas of education health and public sanitation. We trulybelieve we can make a difference by creating Better Lives for a Brighter Future.

We express our gratitude to all our Stakeholders including shareholders customersbankers and the medical fraternity for their whole-hearted support. We thank allIndocoites for their contribution which we value the most.

Thanking you all

Suresh G. Kare Aditi Panandikar Sundeep V. Bambolkar
Chairman Managing Director Jt. Managing Director