Indoco Remedies Limited (INDOCO) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Indoco Remedies Limited ₹101, price ₹252, upside -60.0%, quality 36 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 1, 2026.
How to read this chart
60‑month range ₹164.00 – ₹510.24 · fair‑value band ₹46.88 – ₹154.57 · the ₹251.75 price screens above the ₹100.73 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 1, 2026.
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Indoco Remedies Limited manufactures and markets formulations and active pharmaceutical ingredients in India and internationally.
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Indoco Remedies Limited manufactures and markets formulations and active pharmaceutical ingredients in India and internationally. It offers products for gastrointestinal, anti-infectives, respiratory, stomatological, vitamins/minerals/nutrients, urological, ophthal/ontological, dermatology, pain/analgesic, cardiac, anti-diabetic, and gynaecological therapeutic areas. The company also provides branded generics comprising analgesic tablets and topical preparations; anti-hypertensive; protein supplements; multivitamin tablets and syrups; antibiotic tablets, syrups, and injectables; oral rehydration powders; antacids; and antihistaminic, anti-inflammatory drugs, etc. In addition, it provides analytical services, such as impurity profile, particle size analysis, polymorphism and compatibility studies, heavy metal analysis, extractables and leachables studies, lyophilization studies, reference and working standards, forced degradation studies, and chromatographic method development and validation services. Further, the company offers architectural design, lighting, mechanical and utility engineering, project and construction management, electrical, control system, piping, structural design, data transfer system, and process engineering. Additionally, it provides contract research services, such as custom chemical synthesis of molecules and intermediates; process chemistry research and development; non-infringing process designing and scale up; and analytical method development, validation, impurity characterization, and polymorphic studies, solutions, as well as intellectual property management. The company was formerly known as Indo Continental Trading Company. Indoco Remedies Limited was founded in 1945 and is based in Mumbai, India.
Stock analysis
Indoco Remedies Limited (INDOCO) currently trades at ₹251.75, while our model-based Fair Value estimate is ₹100.73, 60.0% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ₹162.97 per share, and 0 of the 4 models we run sit above the ₹251.75 price.
Bear case: the Asset-Based group reads lowest at ₹68.28, and 4 of the 4 models stay below the price. Evidence for this calculation is medium.
Scenario range: ₹46.88 (bear) to ₹154.57 (bull), the price of ₹251.75 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 36/100 (below-average quality), in the Healthcare sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Indoco Remedies Limited reported revenue of ₹18.5B in FY2026 versus ₹15.0B in FY2022, a compound +5.3%/yr. Reported net income was −₹987M in FY2026.
Key figures
Market cap ₹22.4B (≈ $233M) · P/E ratio 354.6 · P/S ratio 1.29 · EPS (TTM) ₹0.7100 · Dividend yield 0.1% · Net margin −5.3% · Return on equity −10.1% · Return on assets (EBIT) 6.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 54% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −19% fair-value upside, at −60%, INDOCO screens richer than that median.
Fair Value models
Bear ₹46.88Fair Value ₹100.73Bull ₹154.57
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹0.2585 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.46/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+10.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.7%
Start year 2021 (pandemic). Over 10 years: +6.3% a year
Revenue growth 22 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.9%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
10.6% (2021) → 0.8% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
Compare Indoco Remedies Limited with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Drug Manufacturers - Specialty & Generic · 569 stocks
Beats the industry median on 2/12 measures
Overall it trails its industry peers.
Valuation
Quality Score36 · Bottom 25%
Fair Value upside−60.0% · Bottom 25%
Profitability
Return on assets0.4% · Below median
Net margin (TTM)0.3% · Below median
Operating margin (TTM)1.4% · Below median
Growth and dividend
Revenue growth6.8% · Above median
Dividend yield (TTM)0.1% · Bottom 25%
Balance sheet
Debt / equity0.55× · Highest 25%
Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper
P/E (TTM)354.6× · Priciest 25%
P/B2.39× · Pricier than median
P/S (TTM)1.20× · Cheaper than median
EV/EBITDA16.3× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 14
FUTURE (revenue growth)34· sector 26
PAST (return on equity)0· sector 29
HEALTH (low debt)73· sector 96
DIVIDEND (yield)2· sector 30
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Indoco Remedies Limited (INDOCO) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of ₹100.73 versus a price of ₹251.75, about −60% upside (overvalued).
What is the fair value of INDOCO?
Our model-based fair value for Indoco Remedies Limited is ₹100.73 (as of Oct 1, 2026), built from audited fundamentals. The current price: ₹251.75.
What is the quality score of INDOCO?
Indoco Remedies Limited has a Quality Score of 36/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Indoco Remedies Limited (INDOCO)?
Our model-based price target is the fair value of ₹100.73 (as of Oct 1, 2026) from 4 valuation models. Cautious scenario ₹46.88, optimistic scenario ₹154.57. It is a calculation from audited fundamentals, not an analyst target.
What is the Indoco Remedies Limited stock forecast for 2026?
Our models put fair value at ₹100.73, about −60% upside versus a price of ₹251.75 (overvalued). Cautious scenario ₹46.88, optimistic scenario ₹154.57. The calculation is refreshed regularly with new filings.
What is the revenue of Indoco Remedies Limited (INDOCO)?
Indoco Remedies Limited reported trailing-twelve-month revenue of about ₹18.7B (latest available figure, as of Oct 1, 2026).
Does Indoco Remedies Limited pay a dividend?
Indoco Remedies Limited currently shows a dividend yield of about 0.08% relative to its recent price (as of Oct 1, 2026).
What is the intrinsic value of Indoco Remedies Limited (INDOCO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Indoco Remedies Limited it is ₹100.73 per share (as of Oct 1, 2026), against a price of ₹251.75. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Indoco Remedies Limited stock overvalued or undervalued in 2026?
As of Oct 1, 2026, INDOCO trades above its calculated fair value: price ₹251.75, fair value ₹100.73, a gap of about −60% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of INDOCO?
No. The price is what the market pays today (₹251.75); the fair value is what the company's own numbers justify (₹100.73). For Indoco Remedies Limited the two are ₹151.02 per share apart. That gap is exactly why we show both numbers side by side.
How much is Indoco Remedies Limited worth?
The market values Indoco Remedies Limited at about ₹22.4B (market capitalisation, as of Oct 1, 2026). Per share that is ₹251.75; our models calculate a fair value of ₹100.73 per share.
What do the bullish and bearish scenarios say about INDOCO?
Our models span a range for Indoco Remedies Limited: cautious scenario ₹46.88, base ₹100.73, optimistic ₹154.57 per share (as of Oct 1, 2026, price ₹251.75). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of INDOCO?
Indoco Remedies Limited trades at a price-to-earnings ratio of 354.6 (as of Oct 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹100.73 is built from several models across several years. Other multiples: P/B 2.4, P/S 1.2, EV/EBITDA 16.3.
How solid is the balance sheet of Indoco Remedies Limited (INDOCO)?
Balance-sheet figures for Indoco Remedies Limited (as of Oct 1, 2026): return on equity −10.1%, debt of 0.55 per unit of equity. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is INDOCO from its 52-week high?
Indoco Remedies Limited trades at ₹251.75, about 15% below its 52-week high of ₹296.85 and 54% above the low of ₹164.00 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹100.73 is for.
Which stocks are comparable to Indoco Remedies Limited?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Teva Pharmaceutical Industries Limited, Sun Pharmaceutical Industries Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Indoco Remedies Limited stock attractive at the current price?
The data as of Oct 1, 2026: price ₹251.75, calculated fair value ₹100.73 (−60%), Quality Score 36/100, from 4 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of INDOCO calculated?
We run Indoco Remedies Limited through 4 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹100.73, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Indoco Remedies Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Indoco Remedies Limited (INDOCO)?
The closing price on Oct 1, 2026 was ₹251.75. Our model-based fair value is ₹100.73, about −60% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Indoco Remedies Limited right now?
The price sits above even our optimistic bull case (₹154.57). The favourable scenario is already priced in. Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (₹46.88 to ₹154.57). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Key figures of Indoco Remedies Limited
How large is the market capitalisation of Indoco Remedies Limited (INDOCO)?
The market capitalisation of Indoco Remedies Limited is ₹22.4B (≈ $233M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Indoco Remedies Limited (INDOCO)?
The price-to-sales ratio of Indoco Remedies Limited is 1.29 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Indoco Remedies Limited (INDOCO)?
Earnings per share at Indoco Remedies Limited are ₹0.7100 (price ÷ EPS = P/E 354.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Indoco Remedies Limited (INDOCO)?
The dividend yield of Indoco Remedies Limited is 0.1% (payout 28.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Indoco Remedies Limited (INDOCO)?
The net margin of Indoco Remedies Limited is −5.3% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Indoco Remedies Limited (INDOCO)?
The return on equity (ROE) of Indoco Remedies Limited is −10.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Indoco Remedies Limited (INDOCO)?
On an EBIT basis the return on assets of Indoco Remedies Limited is 6.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Indoco Remedies Limited (INDOCO)?
The operating margin of Indoco Remedies Limited is 1.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Indoco Remedies Limited (INDOCO)?
Revenue at Indoco Remedies Limited is growing +6.8% versus a year earlier (3y avg +4.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Indoco Remedies Limited (INDOCO)?
Earnings per share at Indoco Remedies Limited are growing −92.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Indoco Remedies Limited (INDOCO) generate?
The free cash flow of Indoco Remedies Limited is −₹1.2B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Indoco Remedies Limited (INDOCO) carry?
The net debt of Indoco Remedies Limited is ₹10.6B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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