Indoco Remedies share price, P/E, ROE & financials

As of 6 Nov 2026, Indoco Remedies trades at 62.5× trailing earnings, above the industry P/E of 28.7×, and the shares are 25% below their 52-week high. Its ROCE of −2.2% is the lowest among the 7 largest Drug Manufacturers (Specialty & Generic) peers, and sales grew 3.0% a year over 3 years. Its dividend yield is 0.1%, and debt is 1.04× equity. It is a small-cap company with a market cap of ₹1,983 Cr, ranked 59th of 154 Drug Manufacturers (Specialty & Generic) companies by market cap; the shares fell 21% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year

Open: ₹214.98
Day high: ₹216.50
Day low: ₹212.05
Prev. close: ₹214.71
Volume: 86.8K

Health check

6 to check

ReturnsBehind
−20.8% over a year, better than 0 of 7 peers.
Price tagPricier
P/E 62.5 vs industry 28.7.
GrowthSlow
Sales +3.0% a year over 3 years.
ProfitabilityNegative
ROCE -2.2% vs peer median 17.9%.
Balance sheetStretched
Debt 1.04× equity, operating profit doesn’t cover interest, Piotroski 6 of 9.
Red flags3 to check
Return on equity is low at 3.2%.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Drug Manufacturers - Specialty & Generic

153 listed peers. Screen the industry

Small cap

₹1,983 Cr, #59 of 154 in its industry by size.

Defensive

Beta 0.66 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Sep 2026: sales ₹1,909 Cr · profit ₹32 Cr

Market cap: ₹1,983 Cr; Small cap
P/E: 62.5; Industry 28.7
Price to book: 1.83; Peers 4.99
Dividend yield: 0.09%
ROE: 3.2%; Peers 14.7%
ROCE: −2.2%; Peers 17.9%
Debt to equity: 1.04; Debt ₹1,059 Cr
EPS (TTM): ₹3.44; Face value ₹2
OPM (TTM): 9.1%; Net margin 1.7%
Sales growth: +7.4%; Latest quarter vs a year ago
Profit growth: n/a; Year-ago quarter not reported
Price to sales: 1.04; EV/EBITDA 22.2

Strengths

Positive operating cash flow in each of the last 4 years.

Risks to check

Return on equity is low at 3.2%.
P/E of 62.5 against an industry P/E of 28.7.
Interest coverage of only 1.5×.

Derived automatically from reported figures. Not a recommendation.

About Indoco Remedies

Indoco Remedies Limited manufactures and markets formulations and active pharmaceutical ingredients in India and internationally. It offers products for gastrointestinal, anti-infectives, respiratory, stomatological, vitamins/minerals/nutrients, urological, ophthal/ontological, dermatology, pain/analgesic, cardiac, anti-diabetic, and gynaecological therapeutic areas. The company also provides branded generics comprising analgesic tablets and topical…

Headquarters: Mumbai
Employees: 6,000
Sector: Healthcare
ISIN: INE873D01024
Website: indoco.com

Price range

52 weeks

₹162.19₹287.80

Today

₹212.05₹216.50

Avg volume (3M): 10.5 L
1-year return: minus 20.8%
From 52-week high: minus 25.3%

Peers · Drug Manufacturers - Specialty & Generic

Compare with peers Screen the whole industry

Company
SUNPHARMASun Pharmaceutical Industries	1,860.00	plus 1.69%	4,46,276	40.7	4.99	17.9%	13.1%	28.2%	10.4%	10.6%	0.86%	plus 8.2%
DIVISLABDivi's Laboratories	10,320.50	plus 1.78%	2,73,977	93.6	16.35	19.0%	16.2%	34.9%	11.0%	12.1%	0.29%	plus 49.0%
TORNTPHARMTorrent Pharmaceuticals	4,750.00	plus 0.85%	1,80,675	80.2	9.83	9.1%	15.7%	33.7%	13.3%	20.2%	0.80%	plus 31.7%
LAURUSLABSLaurus Labs	2,340.00	minus 0.26%	1,26,433	94.4	20.86	19.5%	24.0%	30.4%	3.8%	4.0%	0.09%	plus 138.6%
ZYDUSLIFEZydus Lifesciences	1,197.90	plus 0.41%	1,19,491	28.6	4.29	19.0%	14.7%	26.2%	16.5%	37.0%	0.08%	plus 22.8%
DRREDDYDr. Reddy's Laboratories	1,373.00	plus 0.51%	1,14,462	40.9	2.96	14.2%	7.3%	15.9%	11.0%	−1.7%	0.58%	plus 13.8%
CIPLACipla	1,411.00	plus 0.49%	1,13,993	39.4	3.22	14.9%	8.3%	17.3%	7.2%	11.5%	0.92%	minus 6.6%
INDOCOIndoco Remedies	215.06	plus 0.16%	1,983	62.5	1.83	−2.2%	3.2%	9.1%	3.0%	–	0.09%	minus 20.8%
Median of 7 peers	–	0.51%	1,26,433	40.9	4.99	17.9%	14.7%	28.2%	11.0%	11.5%	0.58%	22.8%

Quarterly results

Consolidated, ₹ crore

SalesSelect a row below to chart it

Sep 25	Dec 25	Mar 26	Jun 26	Sep 26
472	434	456	466	507
429	403	406	425	460
43.1	31.5	49.7	41	46.4
9.1%	7.3%	10.9%	8.8%	9.2%
0.8	1	−0	2.2	2
24.6	25.6	45.9	28.3	26.9
32.3	32	32.5	34.5	34.4
−0.5	−6.2	3.7	97.3	37.1
−13.5	−31.3	−25	77.7	24.2
31.9%	5.9%	5.3%	15.8%	19.5%
−7.9	−29.8	−21.6	65	18.4
-1.00	-3.20	-2.57	7.09	2.11

Profit & loss

Yearly, ₹ crore

Sales CAGR 3Y: +3.0%
ROE: 3.2%

Net profitSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
1,640	1,788	1,641	1,793
–	+9.0%	minus 8.2%	+9.2%
1,372	1,553	1,554	1,685
268	235	87.1	107
16.4%	13.1%	5.3%	6.0%
20.2	24.6	13.2	−5.8
23.8	34.9	62	72.9
70.6	91.9	114	126
−1.3	3.3	1.2	−8.9
193	136	−74.4	−106
26.2%	28.6%	−4.8%	7.3%
142	98.5	−73.7	−95.1
–	minus 30.8%	minus 174.9%	–
15.42	10.67	-8.00	-10.31

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore

Total assetsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
18.4	18.4	18.4	18.5
1,010	1,091	1,004	921
333	672	994	1,090
297	363	414	564
1,658	2,145	2,430	2,593
706	979	1,213	1,155
94.1	191	364	101
1.5	6.6	6.1	4.5
14.9	25.6	15.3	28.4
841	942	831	1,305
1,658	2,145	2,430	2,593

Cash flow

Yearly, ₹ crore

Cash from operationsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
179	155	94.9	192
−208	−433	−339	−102
22.8	122	241	−76.8
−6.5	3.3	−2.8	13.8
−207	−426	−356	−148
−28.4	−271	−261	44.7
−20.7	−20.7	−13.9	−1.9

Shareholding pattern

Source: NSE filings

58.9%

promoters

Promoters58.92%
Public40.94%
Employee trusts0.14%
As of 30 Sep 2026

Quarter	Promoters	Public	Promoter change
30 Sep 2026	58.92%	40.94%	plus 0.06
30 Jun 2026	58.86%	41.00%	0.00
31 Mar 2026	58.86%	41.00%	minus 0.04
31 Dec 2025	58.90%	41.01%	0.00
30 Sep 2025	58.90%	41.01%	–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you