Indoco Remedies, a Rs.850 crore plus Mumbai based pharma major, has posted small growth of 1.1 per cent in standalone net profit during the fourth quarter ended March 2015 to Rs.18.75 crore from Rs.18.55 crore in the corresponding quarter of last year due to higher R&D expenditure. Its R&D expenditure increased by 78.2 per cent to Rs.7.45 crore from Rs.4.18 crore. The company's standalone net sales increased by 13.8 per cent to Rs.211.59 crore from Rs.185.86 crore. Its EBIDTA moved up by 11.2 per cent to Rs.37.66 crore from Rs.33.88 crore. EPS remained almost same at Rs.2.03.

The board of directors has recommended equity dividend of 80 per cent i.e. Rs.1.60 per share for the year 2014-15.

For the full year ended March 2015, Indoco's consolidated net sales increased by 18 per cent to Rs.852.21 crore from Rs.722.27 crore in the previous year. Its domestic sales moved up by 14.4 per cent to Rs.535.39 crore from Rs.467.92 crore and its international sales improved by 24.6 per cent to Rs.316.82 crore from Rs.254.35 crore. Its consolidated net profit went up 42.8 per cent to Rs.82.81 crore from Rs.57.98 crore on account of lower interest cost. Though its R&D expenditure increased by 50.2 per cent to Rs.21.67 crore, its interest cost declined by 44.1 per cent to Rs.10.58 crore from Rs.18.92 crore.

The company introduced two formulations in the domestic market during fourth quarter, both in anti-infective segment taking the tally of new products launched to 19 for the year. It 50 ANDAs are in pipeline at various stages for US market. It received 7 approvals and 18 are awaiting approvals. Currently, 25 ANDAs are under development.

Suresh G Kare, chairman, said, “Domestic business grew by 17 per cent compared to same quarter last year and by 15 per cent over last year. International formulation business grew by 10 per cent compared to same quarter last year and by 26 per cent over last year. The year was marked by the successfully launch of two ophthalmic products in the US, receipt of three tentative approvals for sterile products filed by its marketing partner and successful inspection of our finished dosages and API facilities by US FDA.”

Indoco has presence in 80 countries and employs over 5,500 people including 250 skilled scientists. It has 8 manufacturing facilities, 5 of which are for FDFs and 3 for APIs supported by a state-of-the-art R&D centre and a CRO facility. Top brands include Cyclopam, febrex plus, sensodent-K, ATM, oxipod, cital, sensoform, etc., It hs tie-ups with large generic companies like Watson (Actavis), USA and ASPEN, South Africa.