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Indoco Remedies Ltd.

BSE: 532612 Sector: Health care
NSE: INDOCO ISIN Code: INE873D01024
BSE 00:00 | 20 Jul 173.90 3.35
(1.96%)
OPEN

172.00

HIGH

176.35

LOW

169.25

NSE 00:00 | 20 Jul 176.20 5.90
(3.46%)
OPEN

167.25

HIGH

178.00

LOW

167.25

OPEN 172.00
PREVIOUS CLOSE 170.55
VOLUME 8664
52-Week high 317.00
52-Week low 167.20
P/E 38.90
Mkt Cap.(Rs cr) 1,602
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 172.00
CLOSE 170.55
VOLUME 8664
52-Week high 317.00
52-Week low 167.20
P/E 38.90
Mkt Cap.(Rs cr) 1,602
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

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