Indoco Remedies - 4QFY2013 Result Review - Angel Broking

Indoco Remedies reported a below the expectations numbers during the quarter. Indoco Remedies reported a top-line growth of 8.6% to Rs. 160.5cr V/s expectations of Rs. 176cr. The OPM is expanded by ~200bp yoy to 16.7%.However, on the interest expenses front, the expenses rose by Rs. 5.1cr V/s Rs. 2.8cr. As a result, the net profit, came in at Rs. 12.8cr V/s Rs. 22.7cr expected and Rs. 12.5cr in 4QFY2012.

We maintain our buy with a target of 89.

Source : Equity Bulls

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