Q1 2025 Indoco Remedies Ltd Earnings Call Transcript
Key Points
- Indoco Remedies Ltd (BOM:532612) reported strong growth in its largest brand, Cyclopam, with a 32% quarter-on-quarter increase and a 60% growth compared to the preceding quarter.
- The company received final ANDA approval from USFDA for pregabalin capsules and tentative approval for canagliflozin and metformin hydrochloride tablets.
- USFDA inspections at the API kilo manufacturing plant and Indoco analytical solutions public testing lab were completed with zero observations.
- New product launches such as FosHS for urinary tract infections, Hylupro, Britigan, Alerchek eye drops, Kidodent bubblegum mouthwash, and Calaid XT tablets were introduced.
- The company is undergoing a master manufacturing plan across all sites to improve efficiency, supported by automation and capacity increases.
- Net revenues for the first quarter decreased by 4.6% to INR 3,942 million compared to the same quarter last year.
- EBITDA to net sales for the quarter dropped to 13.1% from 15.2% in the same quarter last year.
- PAT to net sales for the quarter fell to 3.8% from 6.3% in the same quarter last year.
- The India business experienced slow revival in the anti-infective and respiratory portfolio, with negative growth in the Febrex Plus brand.
- Remediation efforts at the Goa Plant 2 impacted the optimal supply of products to the US market.
Ladies and gentlemen, good day, and welcome to Indoco Remedies limited Q1 FY25 earnings conference call. (Operator instructions). Please note that this conference is being recorded.
I now hand the conference over to Mrs. Rashmi Shetty from Dolat Capital. Thank you and over to you.
Thank you, Ben. Good afternoon, everyone. I Rashmi Shetty on behalf of Dolat Capital, welcome you all on the Q1 FY25 earnings con call 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 team we have with us Ms. Aditi Panandikar, Managing Director; Mr. Sundeep Bambolkar, Joint MD; and Mr. Pramod Ghorpade, CFO.
I will now hand over the call to the management for their opening remarks. Over to you, sir.
Thank you, Rashmi. Good afternoon, everyone. Thank you all for joining this call today. Let me draw your attention
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