Q4 2024 Indoco Remedies Ltd Earnings Call Transcript
Key Points
- Indoco Remedies Ltd (BOM:532612) commenced manufacturing in its 100% subsidiary, Warren Remedies Private Limited, in March.
- The company's largest brand, Cyclopam, crossed INR150 crore in revenues, while Oxipod and Cital each crossed the INR100 crore mark.
- The company launched a second division for ophthalmology called Vision, which will allow it to introduce products in the anti-glaucoma therapy market in India.
- The API division registered a year-on-year growth of 79%, reaching INR126 crore.
- The company's API Kilo Lab manufacturing facility and Indoco Analytical Services testing lab successfully cleared the US FDA audit with zero 483 observations.
- Net revenues for Q4 FY24 grew by only 1.7%, indicating slower growth compared to previous quarters.
- EBITDA to net sales for the quarter decreased to 13.2% from 15% in the same quarter last year.
- Profit after tax to net sales for the year decreased to 6.6% from 8.6% the previous year.
- Revenues from the international formulation business witnessed a de-growth of 1% for the quarter.
- The company faced higher other expenses due to increased sales promotion and remediation expenses, impacting gross margins.
Ladies and gentlemen, good day, and welcome to Indoco Remedies Limited's Q4 FY24 earnings conference call hosted by Nirmal Bang Institutional Equities Private Limited. (Operator instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Umesh from Nirmal Bang Institutional Equities. Thank you, and over to you, sir.
Thank you, Steve. Good afternoon, everyone. On behalf of Nirmal Bang Institutional Equities, I welcome you all to the Q4 FY 2024 earnings concall of Indoco Remedies. I would like to thank the management of Indoco Remedies for giving us this opportunity to host the call.
Today from the management we have with us Ms. Aditi Panandikar, Managing Director; Mr. Sundeep V Bambolkar, Joint MD; and Pramod Ghorpade, CFO. I now hand over the call to management for their opening remarks, after which we will open up Q&A over to the management.
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