Indoco Remedies Limited

NSEI:INDOCO Stock Report

Market Cap: ₹28.1b

Indoco Remedies Valuation

Is INDOCO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of INDOCO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: INDOCO (₹304.3) is trading below our estimate of fair value (₹816.02)

Significantly Below Fair Value: INDOCO is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for INDOCO?

Key metric: As INDOCO is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for INDOCO. This is calculated by dividing INDOCO's market cap by their current earnings.
What is INDOCO's PE Ratio?
PE Ratio87.5x
Earnings₹320.60m
Market Cap₹28.05b

Price to Earnings Ratio vs Peers

How does INDOCO's PE Ratio compare to its peers?

The above table shows the PE ratio for INDOCO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average50.3x
506879 Gujarat Themis Biosyn
67.8xn/a₹35.7b
530199 Themis Medicare
49.7xn/a₹26.4b
SMSPHARMA SMS Pharmaceuticals
35.7xn/a₹21.2b
RPGLIFE RPG Life Sciences
47.9xn/a₹33.8b
INDOCO Indoco Remedies
87.5x72.2%₹28.1b

Price-To-Earnings vs Peers: INDOCO is expensive based on its Price-To-Earnings Ratio (87.5x) compared to the peer average (50.3x).

Price to Earnings Ratio vs Industry

How does INDOCO's PE Ratio compare vs other companies in the IN Pharmaceuticals Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
INDSWFTLAB Ind-Swift Laboratories
1.6xn/aUS$72.79m
524652 Ind-Swift
2.1xn/aUS$13.52m
No more companies available in this PE range
INDOCO 87.5xIndustry Avg. 31.7xNo. of Companies20PE020406080100+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: INDOCO is expensive based on its Price-To-Earnings Ratio (87.5x) compared to the Indian Pharmaceuticals industry average (32.4x).

Price to Earnings Ratio vs Fair Ratio

What is INDOCO's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

INDOCO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio87.5x
Fair PE Ratio74.1x

Price-To-Earnings vs Fair Ratio: INDOCO is expensive based on its Price-To-Earnings Ratio (87.5x) compared to the estimated Fair Price-To-Earnings Ratio (74.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst INDOCO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹304.30
₹312.40
+2.7%
5.7%₹338.00₹290.00n/a5
Nov ’25₹314.15
₹312.40
-0.6%
5.7%₹338.00₹290.00n/a5
Oct ’25₹348.50
₹346.00
-0.7%
8.4%₹400.00₹320.00n/a5
Sep ’25₹361.45
₹346.00
-4.3%
8.4%₹400.00₹320.00n/a5
Aug ’25₹330.85
₹346.00
+4.6%
8.4%₹400.00₹320.00n/a5
Jul ’25₹331.60
₹356.40
+7.5%
11.9%₹438.00₹318.00n/a5
Jun ’25₹300.45
₹356.40
+18.6%
11.9%₹438.00₹318.00n/a5
May ’25₹326.95
₹395.20
+20.9%
7.7%₹438.00₹358.00n/a5
Apr ’25₹339.30
₹395.20
+16.5%
7.7%₹438.00₹358.00n/a5
Mar ’25₹346.15
₹395.20
+14.2%
7.7%₹438.00₹358.00n/a5
Feb ’25₹369.30
₹392.67
+6.3%
7.2%₹438.00₹358.00n/a6
Jan ’25₹390.25
₹390.50
+0.06%
4.2%₹425.00₹375.00n/a6
Dec ’24₹371.10
₹392.57
+5.8%
4.1%₹425.00₹375.00n/a7
Nov ’24₹317.05
₹392.57
+23.8%
4.1%₹425.00₹375.00₹314.157
Oct ’24₹339.00
₹381.00
+12.4%
3.4%₹405.00₹361.00₹348.506
Sep ’24₹311.85
₹381.00
+22.2%
3.4%₹405.00₹361.00₹361.456
Aug ’24₹314.80
₹381.00
+21.0%
3.4%₹405.00₹361.00₹330.856
Jul ’24₹326.95
₹409.00
+25.1%
2.9%₹430.00₹396.00₹331.606
Jun ’24₹344.30
₹422.00
+22.6%
6.0%₹474.00₹400.00₹300.456
May ’24₹323.45
₹453.17
+40.1%
6.1%₹513.00₹430.00₹326.956
Apr ’24₹325.25
₹453.17
+39.3%
6.1%₹513.00₹430.00₹339.306
Mar ’24₹354.05
₹453.17
+28.0%
6.1%₹513.00₹430.00₹346.156
Feb ’24₹325.05
₹454.83
+39.9%
5.9%₹513.00₹430.00₹369.306
Jan ’24₹406.65
₹486.00
+19.5%
10.5%₹563.00₹430.00₹390.256
Dec ’23₹394.70
₹486.00
+23.1%
10.5%₹563.00₹430.00₹371.106
Nov ’23₹354.30
₹480.33
+35.6%
10.6%₹550.00₹410.00₹317.056

Analyst Forecast: Target price is less than 20% higher than the current share price.

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