# Indoco Remedies share price today (Indoco Remedies Ltd, NSE: INDOCO)

> Indoco Remedies share price today: ₹215.23 at the NSE close on 3 November 2026, down 22.9% in a year. Indoco Remedies (NSE: INDOCO) is worth ₹1,990 crore, trades at a P/E of 125.4 and has closed between ₹173.46 and ₹263.02 over the past 52 weeks. > Indoco Remedies Ltd's results are improving, and its P/E is near the top of its own history, higher than 98% of past readings. INDOCO · Pharma - Formulators · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/indoco-remedies-ltd

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## Key numbers

- Price: ₹215.23 (−22.9% in a year)
- P/E: 125.4× (higher than 98% of the last 8.8 years)
- Revenue (Sep 2026): ₹520 Cr (+7.2% on a year ago)
- Profit (Sep 2026): ₹19.0 Cr
- Operating margin: 9.0% (flat on a year ago)
- ROCE: 1%, FY26

The main question: results are strong, and the P/E is higher than 98% of its own history. ## What is the Indoco Remedies share price today? Indoco Remedies Ltd's share price was ₹215.23 at the close on 3 November 2026. It has been rising for 9 weeks. That is 8.6% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹173 and ₹263, and at that close it sat 47% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 4 weeks in a row. Over the last 11 years the share price moved −24% while the NIFTY 500 moved +251%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Indoco Remedies this quarter? Two changes stood out: revenue up on a year earlier for 6 quarters in a row and highest quarterly revenue in 16 quarters. 1. Revenue up on a year earlier for 6 quarters in a row In the September 2026 quarter revenue was ₹520 crore, +7.2% on a year earlier. Why: Revenue rose because sales to regulated international markets grew steadily, led by Europe and the US. Next results: check whether domestic sales recover in the second half as the call expected. From the earnings call on 27 Oct 2026. 2. Highest quarterly revenue in 16 quarters Revenue of ₹520 crore in the September 2026 quarter is the highest of the last 16 quarters. Why: The quarter was the highest in 16 quarters because sales to regulated international markets grew strongly, led by Europe and the US. Next results: check whether regulated market orders stay steady. From the earnings call on 27 Oct 2026. ## What are Indoco Remedies' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Indoco Remedies reported revenue of ₹520 crore, up 7.2% from ₹485 crore a year earlier, and a profit of ₹19.0 crore, against a loss of ₹9.00 crore a year earlier. ### Indoco Remedies results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹520 crore | ₹485 crore | +7.2% |
| Profit | ₹19.0 crore | loss of ₹9.00 crore | n/a |
| Earnings per share | ₹1.99 | ₹−0.86 | n/a |
| Operating margin | 9.0% | 9.0% | 0.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Indoco Remedies' management discussed these results on a call held on 27 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Indoco Remedies share price history? Indoco Remedies closed at ₹215.23 on 3 November 2026, down 22.9% from ₹279.15 a year earlier (31 October 2025) and down 52.6% over five years. Its highest weekly close since March 2016 was ₹481.40 on 17 September 2021. ### Indoco Remedies share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹226.50 | −5.0% |
| 1 month ago · 1 Oct 2026 | ₹251.75 | −14.5% |
| 6 months ago · 30 Apr 2026 | ₹209.49 | +2.7% |
| 1 year ago · 31 Oct 2025 | ₹279.15 | −22.9% |
| 3 years ago · 3 Nov 2023 | ₹320.05 | −32.8% |
| 5 years ago · 4 Nov 2021 | ₹454.30 | −52.6% |
| 10 years ago · 4 Nov 2016 | ₹275.75 | −21.9% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹282.15 | −23.7% |
| Highest weekly close since March 2016 · 17 Sep 2021 | ₹481.40 | −55.3% |
| Lowest weekly close since March 2016 · 11 Oct 2019 | ₹135.75 | +58.5% |
| 52-week high (weekly close) · 11 Sep 2026 | ₹263.02 | −18.2% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹173.46 | +24.1% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (561 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Indoco Remedies? 3 Nov 2026: Indoco Remedies closed at ₹215.23, down 5.0% on the week and down 14.5% on the month. 27 Oct 2026: Indoco Remedies held its results call for July to September 2026. Management guided: Domestic high-single-digit growth in FY27. ### Earlier

- Results for July to September 2026: Revenue up 7.2% on a year earlier. - 10 Sep 2026: ex-date for a dividend of ₹0.20 a share. ## What dividend does Indoco Remedies pay? Indoco Remedies paid ₹0.20 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.09% at the ₹215.23 close on 3 November 2026. The last was a dividend of ₹0.20 a share, ex-date 10 September 2026. ### Indoco Remedies dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 10 Sep 2026 | ₹0.20 | Dividend |
| 4 Sep 2025 | ₹0.20 | Dividend |
| 19 Sep 2024 | ₹1.50 | Dividend |
| 18 Sep 2023 | ₹2.25 | Dividend |
| 14 Sep 2022 | ₹2.25 | Dividend + Special |
| 17 Sep 2021 | ₹1.50 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Not in its latest year. Indoco Remedies Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 10 of its last 13 reported years, so there is a history but no current dividend. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Indoco Remedies management say on the latest results call? On the call for July to September 2026, held on 27 October 2026, Indoco Remedies' management guided: Domestic high-single-digit growth in FY27. > “Cyclopam has further strengthened its position as a flagship brand, crossing the 200-crore threshold and now at sales of 206 crore, while maintaining its number two position in the antispasmodics and anticholinergics market.”
> Aditi Panandikar, on the call for July to September 2026

### What management guided

- Regulated growth above 20% over next 2-3 years. - Total international decent double-digit growth in FY27 on Q4 strength. - R and D at or below 5% of topline in FY27. - PPE capital spending below ₹25 crore in FY27 with no major spend into next year. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/4517/Conference Call/CC-Oct26.pdf). (From the call for July to September 2026, 27 October 2026.)

## What to watch in Indoco Remedies' next results? When Indoco Remedies reports October to December 2026, these are the 3 checks that show whether the story is still on course. First: Sterile site readout outcome clearing overhang awaited - per submitted response confidence and procedure-only view. - What to check (from the call)
- Sterile site readout outcome clearing overhang awaited - per submitted response confidence and procedure-only view. - Domestic return to promised growth pace as acute seasonality normalizes - per second-half predictability view. - Emerging Q4 seasonal rebound offsetting ophthalmic handover drag - per cyclical recovery expectation. ## Which stock lists is Indoco Remedies on? Indoco Remedies is on one of our India lists: Pharma stocks. [Pharma stocks Market value (₹ crore): 1990.7619779164663](https://www.sectoralpha.in/sectors/pharma-stocks-india)

## Is Indoco Remedies profitable? Indoco Remedies Ltd earned ₹19.0 Cr of net profit in the Sep 2026 quarter. The full FY26 year was a loss of ₹99.0 Cr. That is 3.7% of the quarter's revenue. The same quarter a year earlier lost ₹9.0 Cr. 7 of the last 12 reported quarters were loss-making. ## How much revenue does Indoco Remedies make, and is it growing? Indoco Remedies Ltd reported ₹520 Cr of revenue in the Sep 2026 quarter, +7.2% on the same quarter a year earlier. That is the 6th quarter in a row with growth on the year before. Over 10 years it has grown 6.3% a year on average. The last full year, FY26, came in at ₹1,845 Cr. The last four reported quarters add to ₹1,909 Cr. FY26 revenue was ₹1,845 Cr, +10.8% on the year before. Recent pace: the last four quarters grew +11.0% on average, against 6.3% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +10.6%, against +3.8% a year over the last 8 quarters (accelerating). ## How much of every ₹100 of sales does Indoco Remedies keep? Indoco Remedies Ltd's operating margin was 9.0% in the Sep 2026 quarter, about the same as the same quarter a year ago. Across 13 years it has been between 6.0% and 21.0%. The latest quarter is within that range. In the latest quarter it moved +0.0 percentage points on the same quarter a year ago. Why the margin moved: operating margin changed +0.0 percentage points on the year while gross margin changed −4.6 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is Indoco Remedies' profit turning into cash? Over the last 3 years, 129% of Indoco Remedies Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹192 Cr of operating cash against −₹99.0 Cr of profit. After ₹91.0 Cr of spending on assets, ₹101 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 129% of profit came in as cash: the cash cycle got 35 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 2.5× depreciation over three years. The next section checks what that spending is building. ## Where does Indoco Remedies' cash go? Indoco Remedies Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 162 days in FY26, down from 197 days in FY21. It spent ₹823 Cr on assets over the last 3 years. Customers take 97 days to pay, and stock sits for 273 days on average. At FY26 sales of ₹1,845 Cr, each day of that cycle ties up about ₹5.1 Cr, so roughly ₹819 Cr is tied up in the business at any time. FY26: customers took 97 days to pay and stock sat for 273 days, about 9.0 months of sales sitting as stock, for a full cycle of 162 days, shorter than FY21's 197. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 273 days. Customers pay about 97 days after that. Suppliers are paid at 208 days. Together that makes the 162-day cycle. Spending on assets: ₹823 Cr over the last 3 years, against ₹332 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹90.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Indoco Remedies' P/E ratio, and how does it compare with its own history? Indoco Remedies Ltd's P/E is 125.4×, about the highest it has ever been. Its usual P/E (the middle reading) is 31.8×, over 8.8 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Where the price move came from: over 5 years the price moved −13.9% a year; about −1.5% a year came from earnings growth and about −12.4 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. A quarterly PEG curve, which only the second data source has, is not shown on this page: its two data sources disagree by up to 7.8% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Is the Indoco Remedies business getting better or worse? Indoco Remedies Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 9 quarters of 2 measures, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Indoco Remedies earn on its capital? Indoco Remedies Ltd earned a ROCE of 1% in FY26. That is up from a low of 0% in FY25. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a −5.4% net margin and 0.71× asset turnover (sales divided by assets). Why the return is what it is (FY26): a −5.4% net margin × 0.71× asset turnover × 2.76× leverage (assets divided by equity) ≈ −10.6% on equity. The margin does its share; borrowing is a big part of it. The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 7.8% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Does Indoco Remedies have too much debt? Indoco Remedies Ltd had ₹1,090 Cr of borrowings against ₹939 Cr of equity in FY26, so its debt is 1.16× its equity. Its operating profit is 1 times its interest bill. Over 5 years borrowings went from ₹267 Cr to ₹1,090 Cr. Over the last 3 of those years it spent ₹823 Cr on assets. Part of the spending on assets is being paid for with borrowed money. The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 7.8% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What is the Indoco Remedies shareholding pattern? Domestic institutions cut their stake in Indoco Remedies Ltd by 1.6 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 16.6% of the company. Promoters moved +0.2 points over the same period, to 58.9%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: −1.6 points over 8 quarters, to 16.6%; Promoters: +0.2 points over 8 quarters, to 58.9%; Foreign institutions: −0.1 points over 8 quarters, to 1.6%. Why the owners changed: domestic institutions drove it (−1.6 points). They reduced their stake. ## How far is Indoco Remedies from balance-sheet trouble? For Indoco Remedies Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Indoco Remedies rank in its industry? 38.4 out of 100, rank 43 of 44 in Pharma - Formulators, with 49% of the evidence available. It is provisional, so it is ranked below companies with full evidence. Indoco Remedies Ltd scores 38.4 out of 100 against the 44 companies it is compared with in Pharma - Formulators, ranking 43. Some evidence is missing, so the score is pulled toward the middle on purpose. The four parts add up to the total exactly: 15.6 + 4.5 + 10 + 8.3 = 38.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Indoco Remedies compared with? Indoco Remedies ranks 43 of 44 Pharma - Formulators companies on the 4-Factor Sector Score, with 38.4 out of 100. 1. [Rubicon Research Ltd](https://www.sectoralpha.in/stocks/rubicon-research-ltd) RUBICON · leader · Most evidence points up · 83% evidence 71.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.1/35 · Revenue 46.8% · Profit 91.4% · Operating margin change 2 points · 88% evidence Capital efficiency 18.6/25 · ROCE 28.4% · Operating margin 24% · 100% evidence Valuation 6.2/20 · P/E 92.5× · PEG 2.31 · 65% evidence Relative strength 16.5/20 · Lead over its industry 28.1% · Lead over NIFTY 500 53.6% · 1 year 160.5% · 70% evidence · 11 of 12 weeks ahead Exact sum: 30.1 + 18.6 + 6.2 + 16.5 = 71.4 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Kwality Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/kwality-pharmaceuticals-ltd) KPL · breaking out · Most evidence points up · 81% evidence 71.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.9/35 · Revenue 37.9% · Profit 88.4% · Operating margin change 3 points · 88% evidence Capital efficiency 18.2/25 · ROCE 24.1% · Operating margin 25% · 100% evidence Valuation 11.0/20 · P/E 44.2× · PEG 0.54 · 100% evidence Relative strength 12.3/20 · Lead over its industry n/a · Lead over NIFTY 500 74.4% · 1 year 288.9% · 25% evidence · 9 of 9 weeks ahead Exact sum: 29.9 + 18.2 + 11 + 12.3 = 71.4 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Accent Microcell Ltd](https://www.sectoralpha.in/stocks/accent-microcell-ltd) ACCENTMIC · leader · Most evidence points up · 65% evidence 70.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.4/35 · Revenue n/a · Profit n/a · Operating margin change 7 points · 27% evidence Capital efficiency 21.4/25 · ROCE 24.9% · Operating margin 24% · 100% evidence Valuation 9.1/20 · P/E 26.9× · PEG n/a · 50% evidence Relative strength 18.6/20 · Lead over its industry 21.4% · Lead over NIFTY 500 47.6% · 1 year 132.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 21.4 + 21.4 + 9.1 + 18.6 = 70.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Ajanta Pharma Ltd](https://www.sectoralpha.in/stocks/ajanta-pharma-ltd) AJANTPHARM · leader · Most evidence points up · 100% evidence 69.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.3/35 · Revenue 25% · Profit 29.8% · Operating margin change 7 points · 100% evidence Capital efficiency 21.3/25 · ROCE 34.5% · Operating margin 31% · 100% evidence Valuation 7.1/20 · P/E 34.7× · PEG 1.77 · 100% evidence Relative strength 10.5/20 · Lead over its industry -3.5% · Lead over NIFTY 500 20% · 1 year 42.3% · 100% evidence · 11 of 12 weeks ahead Exact sum: 30.3 + 21.3 + 7.1 + 10.5 = 69.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Glenmark Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/glenmark-pharmaceuticals-ltd) GLENMARK · breaking out · Most evidence points up · 86% evidence 69.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.1/35 · Revenue 32.9% · Profit 100% · Operating margin change 2 points · 88% evidence Capital efficiency 20.3/25 · ROCE 39.8% · Operating margin 20% · 100% evidence Valuation 11.2/20 · P/E 20.8× · PEG n/a · 50% evidence Relative strength 8.6/20 · Lead over its industry -11.4% · Lead over NIFTY 500 10.8% · 1 year 21.5% · 100% evidence · 9 of 12 weeks ahead Exact sum: 29.1 + 20.3 + 11.2 + 8.6 = 69.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Bliss GVS Pharma Ltd](https://www.sectoralpha.in/stocks/bliss-gvs-pharma-ltd) BLISSGVS · leader · Most evidence points up · 82% evidence 67.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.3/35 · Revenue 25% · Profit 43.1% · Operating margin change 8 points · 95% evidence Capital efficiency 14.7/25 · ROCE 16.9% · Operating margin 26% · 76% evidence Valuation 6.4/20 · P/E 42.4× · PEG n/a · 50% evidence Relative strength 16.7/20 · Lead over its industry 59% · Lead over NIFTY 500 86.2% · 1 year 312.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 29.3 + 14.7 + 6.4 + 16.7 = 67.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Fredun Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/fredun-pharmaceuticals-ltd) FREDUN · breaking out · Most evidence points up · 76% evidence 65.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 31.9/43.75 · Revenue 50.3% · Profit 91.3% · Operating margin change 0 points · 88% evidence Capital efficiency 19.0/31.25 · ROCE 21.5% · Operating margin 14% · 100% evidence Valuation 14.9/25 · P/E 52.7× · PEG 0.77 · 100% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 31.9 + 19 + 14.9 = 65.8 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 8. [Lupin Ltd](https://www.sectoralpha.in/stocks/lupin-ltd) LUPIN · quiet · Most evidence points up · 89% evidence 65.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.9/35 · Revenue 28.2% · Profit 49.2% · Operating margin change 2 points · 88% evidence Capital efficiency 19.4/25 · ROCE 29.9% · Operating margin 30% · 100% evidence Valuation 16.1/20 · P/E 15.4× · PEG 0.54 · 65% evidence Relative strength 2.0/20 · Lead over its industry -24.5% · Lead over NIFTY 500 -4.7% · 1 year 2.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 27.9 + 19.4 + 16.1 + 2 = 65.4 · What this means: Earnings are strong; relative strength in its sector is -24.5% and the one-year return is 2.4%. 9. [Ipca Laboratories Ltd](https://www.sectoralpha.in/stocks/ipca-laboratories-ltd) IPCALAB · turning · Most evidence points up · 78% evidence 65.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.0/35 · Revenue 10.6% · Profit 68% · Operating margin change 6 points · 83% evidence Capital efficiency 15.7/25 · ROCE 17% · Operating margin 24% · 76% evidence Valuation 11.0/20 · P/E 35.6× · PEG n/a · 50% evidence Relative strength 14.7/20 · Lead over its industry -0.5% · Lead over NIFTY 500 23.6% · 1 year 51.7% · 100% evidence · 10 of 12 weeks ahead Exact sum: 24 + 15.7 + 11 + 14.7 = 65.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Marksans Pharma Ltd](https://www.sectoralpha.in/stocks/marksans-pharma-ltd) MARKSANS · leader · Evidence leans up · 74% evidence 64.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.7/35 · Revenue 19.6% · Profit 48% · Operating margin change 9 points · 88% evidence Capital efficiency 17.2/25 · ROCE 18.8% · Operating margin 25% · 100% evidence Valuation 6.3/20 · P/E 26.8× · PEG 2.85 · 65% evidence Relative strength 11.9/20 · Lead over its industry n/a · Lead over NIFTY 500 40.1% · 1 year 68.4% · 25% evidence · 12 of 12 weeks ahead Exact sum: 28.7 + 17.2 + 6.3 + 11.9 = 64.1 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 11. [FDC Ltd](https://www.sectoralpha.in/stocks/fdc-ltd) FDC · basing · Evidence leans up · 85% evidence 62.8 out of 100 Growth Capital Valuation Relative
12. [Corona Remedies Ltd](https://www.sectoralpha.in/stocks/corona-remedies-ltd) CORONA · turning · Evidence leans up · 73% evidence 62.5 out of 100 Growth Capital Valuation Relative
13. [Emcure Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/emcure-pharmaceuticals-ltd) EMCURE · losing its lead · Evidence leans up · 71% evidence 61.8 out of 100 Growth Capital Valuation Relative
14. [Mankind Pharma Ltd](https://www.sectoralpha.in/stocks/mankind-pharma-ltd) MANKIND · turning · Evidence leans up · 100% evidence 61.0 out of 100 Growth Capital Valuation Relative
15. [Zydus Lifesciences Ltd](https://www.sectoralpha.in/stocks/zydus-lifesciences-ltd) ZYDUSLIFE · leader · Evidence leans up · 96% evidence 58.1 out of 100 Growth Capital Valuation Relative
16. [Gufic BioSciences Ltd](https://www.sectoralpha.in/stocks/gufic-biosciences-ltd) GUFICBIO · leader · Evidence leans up · 71% evidence 56.2 out of 100 Growth Capital Valuation Relative
17. [ERIS Lifesciences Ltd](https://www.sectoralpha.in/stocks/eris-lifesciences-ltd) ERIS · basing · Evidence leans up · 67% evidence 56.1 out of 100 Growth Capital Valuation Relative
18. [Strides Pharma Science Ltd](https://www.sectoralpha.in/stocks/strides-pharma-science-ltd) STAR · breaking out · Evidence leans up · 75% evidence 55.3 out of 100 Growth Capital Valuation Relative
19. [Caplin Point Laboratories Ltd](https://www.sectoralpha.in/stocks/caplin-point-laboratories-ltd) CAPLIPOINT · losing its lead · Evidence leans up · 96% evidence 54.3 out of 100 Growth Capital Valuation Relative
20. [Wockhardt Ltd](https://www.sectoralpha.in/stocks/wockhardt-ltd) WOCKPHARMA · losing its lead · Evidence leans up · 71% evidence 52.8 out of 100 Growth Capital Valuation Relative
21. [Kilitch Drugs (India) Ltd](https://www.sectoralpha.in/stocks/kilitch-drugs-indialtd) KILITCH · breaking out · Evidence leans up · 78% evidence 51.3 out of 100 Growth Capital Valuation Relative
22. [Akums Drugs & Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/akums-drugs-pharmaceuticals-ltd) AKUMS · leader · Evidence leans up · 71% evidence 50.9 out of 100 Growth Capital Valuation Relative
23. [Alkem Laboratories Ltd](https://www.sectoralpha.in/stocks/alkem-laboratories-ltd) ALKEM · quiet · Evidence leans down · 78% evidence 47.6 out of 100 Growth Capital Valuation Relative
24. [Alembic Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/alembic-pharmaceuticals-ltd) APLLTD · turning · Evidence leans down · 81% evidence 46.9 out of 100 Growth Capital Valuation Relative
25. [Bajaj Healthcare Ltd](https://www.sectoralpha.in/stocks/bajaj-healthcare-ltd) BAJAJHCARE · quiet · Evidence leans down · 100% evidence 46.5 out of 100 Growth Capital Valuation Relative
26. [Lincoln Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/lincoln-pharmaceuticals-ltd) LINCOLN · quiet · Evidence leans down · 100% evidence 46.0 out of 100 Growth Capital Valuation Relative
27. [Bharat Parenterals Ltd](https://www.sectoralpha.in/stocks/bharat-parenterals-ltd) BPLPHARMA · breaking out · Too little evidence to rank firmly · 52% evidence 45.9 out of 100 Growth Capital Valuation Relative
28. [Aurobindo Pharma Ltd](https://www.sectoralpha.in/stocks/aurobindo-pharma-ltd) AUROPHARMA · leader · Evidence leans down · 96% evidence 45.7 out of 100 Growth Capital Valuation Relative
29. [Amrutanjan Health Care Ltd](https://www.sectoralpha.in/stocks/amrutanjan-health-care-ltd) AMRUTANJAN · turning · Evidence leans down · 96% evidence 44.9 out of 100 Growth Capital Valuation Relative
30. [RPG Life Sciences Ltd](https://www.sectoralpha.in/stocks/rpg-life-sciences-ltd) RPGLIFE · losing its lead · Evidence leans down · 100% evidence 43.1 out of 100 Growth Capital Valuation Relative
31. [J B Chemicals & Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/j-b-chemicals-pharmaceuticals-ltd) JBCHEPHARM · Too little evidence to rank firmly · 59% evidence 42.6 out of 100 Growth Capital Valuation Relative
32. [Zim Laboratories Ltd](https://www.sectoralpha.in/stocks/zim-laboratories-ltd) ZIMLAB · leader · Evidence leans down · 71% evidence 42.2 out of 100 Growth Capital Valuation Relative
33. [Sun Pharmaceutical Industries Ltd](https://www.sectoralpha.in/stocks/sun-pharmaceutical-industries-ltd) SUNPHARMA · quiet · Evidence leans down · 100% evidence 39.4 out of 100 Growth Capital Valuation Relative
34. [Dr Reddys Laboratories Ltd](https://www.sectoralpha.in/stocks/dr-reddys-laboratories-ltd) DRREDDY · turning · Evidence leans down · 100% evidence 39.4 out of 100 Growth Capital Valuation Relative
35. [Natco Pharma Ltd](https://www.sectoralpha.in/stocks/natco-pharma-ltd) NATCOPHARM · quiet · Evidence leans down · 96% evidence 38.8 out of 100 Growth Capital Valuation Relative
36. [Bafna Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/bafna-pharmaceuticals-ltd) BAFNAPH · breaking out · Evidence leans down · 74% evidence 35.8 out of 100 Growth Capital Valuation Relative
37. [Cipla Ltd](https://www.sectoralpha.in/stocks/cipla-ltd) CIPLA · turning · Evidence leans down · 100% evidence 35.4 out of 100 Growth Capital Valuation Relative
38. [Torrent Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/torrent-pharmaceuticals-ltd) TORNTPHARM · losing its lead · Most evidence points down · 100% evidence 34.6 out of 100 Growth Capital Valuation Relative
39. [Biocon Ltd](https://www.sectoralpha.in/stocks/biocon-ltd) BIOCON · quiet · Most evidence points down · 96% evidence 34.4 out of 100 Growth Capital Valuation Relative
40. [Suven Life Sciences Ltd](https://www.sectoralpha.in/stocks/suven-life-sciences-ltd) SUVEN · quiet · Most evidence points down · 64% evidence 33.1 out of 100 Growth Capital Valuation Relative
41. [Influx Healthtech Ltd](https://www.sectoralpha.in/stocks/influx-healthtech-ltd) INFLUX · quiet · Too little evidence to rank firmly · 42% evidence 49.7 out of 100 Growth Capital Valuation Relative
42. [Syncom Healthcare Ltd](https://www.sectoralpha.in/stocks/syncom-healthcare-ltd) SYNCOM · Too little evidence to rank firmly · 17% evidence 42.3 out of 100 Growth Capital Valuation Relative
43. Indoco Remedies Ltd this page INDOCO · losing its lead · Too little evidence to rank firmly · 49% evidence 38.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.6/35 · Revenue 10.6% · Profit 100% · Operating margin change 0 points · 71% evidence Capital efficiency 4.5/25 · ROCE 1% · Operating margin 9% · 76% evidence Valuation 10.0/20 · P/E n/a · PEG n/a · 0% evidence Relative strength 8.3/20 · Lead over its industry n/a · Lead over NIFTY 500 -3.6% · 1 year -25.4% · 25% evidence · 7 of 12 weeks ahead Exact sum: 15.6 + 4.5 + 10 + 8.3 = 38.4 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 44. [Sai Parenterals Ltd](https://www.sectoralpha.in/stocks/sai-parenterals-ltd) SAIPARENT · turning · Too little evidence to rank firmly · 31% evidence 36.7 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Pharma - Formulators](https://www.sectoralpha.in/sectors/pharma-formulators), all 44 compared on one page. ## Which companies are close to Indoco Remedies in size? Indoco Remedies is the 34th largest of 44 Pharma - Formulators companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Kwality Pharmaceuticals, Fredun Pharmaceuticals and Sai Parenterals. Just below it: Accent Microcell, Amrutanjan Health Care and Bharat Parenterals. ### Pharma - Formulators companies close in size

1. [Kwality Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/kwality-pharmaceuticals-ltd) ₹3,606 crore
2. [Fredun Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/fredun-pharmaceuticals-ltd) ₹2,341 crore
3. [Sai Parenterals Ltd](https://www.sectoralpha.in/stocks/sai-parenterals-ltd) ₹2,306 crore
4. Indoco Remedies Ltd ₹1,923 crore
5. [Accent Microcell Ltd](https://www.sectoralpha.in/stocks/accent-microcell-ltd) ₹1,533 crore
6. [Amrutanjan Health Care Ltd](https://www.sectoralpha.in/stocks/amrutanjan-health-care-ltd) ₹1,436 crore
7. [Bharat Parenterals Ltd](https://www.sectoralpha.in/stocks/bharat-parenterals-ltd) ₹1,399 crore

[All 44 Pharma - Formulators companies, largest first](https://www.sectoralpha.in/sectors/pharma-formulators#all-companies)

### Companies close in size in other industries

1. [GK Energy Ltd](https://www.sectoralpha.in/stocks/gk-energy-ltd) ₹1,945 crore · Solar Pumps
2. [Deepa Jewellers Ltd](https://www.sectoralpha.in/stocks/deepa-jewellers-ltd) ₹1,934 crore
3. Indoco Remedies Ltd ₹1,923 crore
4. [Gretex Corporate Services Ltd](https://www.sectoralpha.in/stocks/gretex-corporate-services-ltd) ₹1,919 crore · Finance & Investments - Others
5. [Panacea Biotec Ltd](https://www.sectoralpha.in/stocks/panacea-biotec-ltd) ₹1,919 crore · Pharma - Others

## What else do people ask about Indoco Remedies? ### What is Indoco Remedies's share price today? Indoco Remedies Ltd's share price is ₹215.23, −22.9% over the past year. The whole company is worth ₹1,990 Cr on the market. In the last 52 weeks it traded between ₹173 to ₹263; today it is 47% of the way up from the low, 8.6% below its 200-day average (as of 3 November 2026). ### What were Indoco Remedies's latest quarterly results? Indoco Remedies Ltd reported revenue of ₹520 Cr and net profit of ₹19.0 Cr for the Sep 2026 quarter. Earnings per share were ₹1.99. The operating margin was 9.0%, 0.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Indoco Remedies's market cap? Indoco Remedies Ltd's market capitalisation is ₹1,990 Cr at a share price of ₹215.23. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Indoco Remedies performing? Indoco Remedies Ltd's share price has been rising for 9 weeks. Over the past 13 weeks it has done better than the NIFTY 500, for 4 weeks running. This describes what the data did, not a rating (as of 3 November 2026). ### Will Indoco Remedies's share price go up? This page does not forecast Indoco Remedies Ltd's share price. What it shows instead: the share price is ₹215.23, and it has been rising for 9 weeks. Its P/E of 125.4× is higher than 98% of its own last 9 years (as of 3 November 2026). ### Who owns Indoco Remedies? Promoters own 58.9% of Indoco Remedies Ltd, foreign institutions 1.6%, domestic institutions 16.6% and the public 22.7% (latest quarter). The biggest change over the last two years: Domestic institutions cut their stake by 1.6 percentage points over 8 quarters (as of 3 November 2026). ### Is Indoco Remedies's profit real cash? Yes, over the last 3 years, 129% of Indoco Remedies Ltd's reported profit came in as cash from operations. The latest year was lower at -194%, so the trend is worth watching. In FY26, operating cash was ₹192 Cr against reported profit of −₹99.0 Cr. Most of that cash then goes into building new capacity. These are yearly figures (as of 3 November 2026). ### Where is Indoco Remedies in its business cycle? Indoco Remedies Ltd's FY26 operating margin was 8.0%, against a 13-year range of 6.0% to 21.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 9.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Indoco Remedies story? The main question: results are strong, and the P/E is higher than 98% of its own history. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Indoco Remedies a stock worth studying right now? What the numbers show: Indoco Remedies Ltd's results are improving, and its P/E is near the top of its own history, higher than 98% of past readings. The main open question: whether earnings grow enough to match the multiple. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Indoco Remedies share price forecast for 2026? What management itself guided: Domestic high-single-digit growth in FY27. ## Lists

- Pharma stocks: https://www.sectoralpha.in/sectors/pharma-stocks-india

This is research, not advice. We’re not SEBI-registered.