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INDOCO Share Price Target

Indoco Remedies Ltd.
Sector: Pharmaceuticals and health care
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INDOCO Share Price *
157.5 +0.5 (0.32%)
* (quote may be delayed)
INDOCO Share Price Forecast - Consensus
No. of reports in last year
8
No. of analysts
3
Average Consensus Forecast
209.88
Consensus Potential
10.04%

INDOCO Share Price Target - Broker Reports - 2019

Nirmal Bang
14-Aug-19
Price @ Call: 153.69
Target: 290
BUY
The company is hopeful of renewal of full cGMP status for its Unit I facility in Goa by EU authorities, which should allow reinstatement of the lost business. Even without reinstatement of EU cGMP status, it expects to regain its base revenue it was generating prior to getting a restricted GMP status, as the Baddi facility is now operational and a large client has resumed uptake. The Unit II facility, which manufactures sterile formulations and was successfully inspected, has received an EIR status. EBITDA margin which currently stand depressed should return to high teen levels by FY21. The company is guiding its return to 18% EBITDA margin if the regulatory situation unfolds as expected. We have a Buy on IRL with a target price (TP) of Rs290.
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Prabhudas Lilladher
14-Aug-19
Price @ Call: 151.15
Target: 130
REDUCE
Q1:Gap remains between guidance, achievement
INDR trades at PER of 19.7x FY20E and 13.5x FY21E earnings. INDR has guided for seasonal benefits in India formulations and early resolution in Goa Unit-I from UK MHRA. With structural degradation in the sector valuation, there are sizable gap between guidance and achievement of key targets in INDR. The US market prospects changed signnificantly with approved products being highly competitive and hardly having any economic feasibility to re-enter in those products. Teva planned to return some of its ophthal ANDAs due to indistinct economic prospects. With challenging comparative valuations in comparison to its growth and peers, we assign 12x PE of FY21E earnings as it reflects unfavorable risk-return matrix. We downgrade to‘Reduce’ and decrease TP to Rs130 (from Rs.137).
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Nirmal Bang
19-Jul-19
Price @ Call: 160
Target: 290
BUY
Assuming the EU GMP status is restored anytime now, we expect company to clock anything between RS 170cr to RS 200cr in EBITDA) and RS 250cr in FY-21 in base case. At CMP stock trades at 7x FY21 EBITDA. We value Indoco at 12x FY21 EBITDA to arrive at a Target price of RS 290.
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Nirmal Bang
31-May-19
Price @ Call: 186.74
Target: 290
BUY
The domestic business continues to be impacted by channel inventory reduction. During the quarter secondary sales for IRL as reported by AIOCD AWACS grew 12.5%, however, IRL reported sales dropped 4% YoY. With the commercialization of the new facility at Patalganga, API segment has delivered good growth with a rise in sales at 8.3% QoQ and 45% YoY.
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Nirmal Bang
2-Feb-19
Price @ Call: 181.63
Target: 273
BUY

ICICIdirect.com
1-Feb-19
Price @ Call: 181.63
Target: 195
HOLD

Prabhudas Lilladher
31-Jan-19
Price @ Call: 186.9
Target: 111
REDUCE

INDOCO Share Price Target - Broker Reports - 2018

Prabhudas Lilladher
14-Nov-18
Price @ Call: 178.55
Target: 100
REDUCE

Prabhudas Lilladher
25-Jan-18
Price @ Call: 297.03
Target: 203
REDUCE

INDOCO Share Price Target - Broker Reports - 2017

Prabhudas Lilladher
28-Nov-17
Price @ Call: 284.6
Target: 151
REDUCE

Angel Broking
24-Nov-17
Price @ Call: 296.23
Target: 136
SELL

Nirmal Bang
5-Sep-17
Price @ Call: 193
Target: 250
BUY

Angel Broking
17-Aug-17
Price @ Call: 194.05
Target: 153
SELL

KRChoksey
10-Aug-17
Price @ Call: 188.55
Target: 207
BUY

Angel Broking
1-Feb-17
Price @ Call: 265.8
Target: 240
SELL

ICICIdirect.com
30-Jan-17
Price @ Call: 275
Target: 315
BUY

INDOCO Share Price Target - Broker Reports - 2016

Angel Broking
10-Nov-16
Price @ Call: 277
Target: 240
REDUCE

Nirmal Bang
4-Nov-16
Price @ Call: 277
Target: 377
HOLD

  • INDOCO - Share Price Target Potential

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    BrokerageTargetPotential
    Nirmal Bang29045.86%
    Prabhudas Lilladher130-20.77%
    ICICIdirect.com19519.49%