Buy Indoco Remedies, target price Rs 510: ICICI Direct

ICICI Direct has buy call on Indoco Remedies with a target price of Rs 510. The current market price of Indoco Remedies is Rs 381.25. Time period given by analyst is one year when Indoco Remedies Ltd. price can reach defined target.

Indoco Remedies Ltd., incorporated in the year 1947, is a Small Cap company (having a market cap of Rs 3507.24 Crore) operating in Pharmaceuticals sector.

Indoco Remedies Ltd. key Products/Revenue Segments include Pharmaceuticals, Sale of services, Export Incentives, Other Operating Revenue and Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 409.43 Crore, up 14.31 % from last quarter Total Income of Rs 358.16 Crore and up 33.31 % from last year same quarter Total Income of Rs 307.12 Crore. Company reported net profit after tax of Rs 40.45 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 58.69 per cent stake in the company as of 30-Jun-2022, while FIIs owned 1.17 per cent, DIIs 18.08 per cent.