Indoco Remedies Limited — Investor Meet, 10-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Indoco Remedies reported Q2 FY26 consolidated net revenues of INR471.8 Cr (up 9.6% YoY) and EBITDA of INR43.1 Cr (9.1% margin). Domestic business grew 11%, outperforming the industry. International formulations increased to INR153.3 Cr, driven by emerging markets and U.S. growth to INR33.6 Cr. Management views Q2 as an uptick after past plant shutdowns, expressing confidence in future consistent performance. Europe is anticipated to achieve double-digit growth from Q3, targeting INR300 Cr next year. U.S. FDA acknowledged readiness for Goa Plant 2 audit. The company aims to reduce debt, projects an INR3500 Cr top line in three years, and plans INR50-70 Cr in annual maintenance capex. Sentiment is confident about the recovery and strategic shifts.