Indoco Remedies Management Meet Update - Positive Growth Prospects; Reasonable Valuation: Nirmal Bang

Nirmal Bang Report

We hosted the Indoco Remedies Ltd.'s management at our Annual Investor Conference to discuss the company’s future business outlook.

In the U.S., the company believes that its portfolio of ophthalmic and injectable products is well placed and gaining traction. European markets is expected to grow by 17-18% on the back of robust order book and new launches. For India, volume gains, new launches and 4-5% price hike will continue to drive growth.

Improvement of medical representative productivity and inorganic opportunities are also an area of interest for the company in the domestic market.

The management intends to leverage its existing product portfolio in various emerging markets in Africa and Latin America.

We remain positive about Indoco Remedies’ future growth prospects mainly due to high domestic contribution, robust complex products portfolio for the export markets and reasonable valuation.

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