Indoco Remedies Ltd. benchmarking: Perfomance to industry peers

Financial

	Indoco Remedies	Novartis	Bliss GVS Pharma
Operational Metrics
Pharmaceuticals
Number of ANDA's Filed in USA	54.0 .	n/a	n/a
Number of ANDA's Approved By USFDA	32.0 .	n/a	n/a
Domestic Sales Growth - YoY	4.0 %	-5.28 %	n/a
US DMF Filings	26.0 .	n/a	n/a
Global DMFs filed	147.0 .	n/a	n/a
R&D as a % of Total Sales	5.7 %	n/a	2.7 %
Financials
5 yr Average ROE	8.94 %	8.0 %	6.83 %
5yr average Equity Multiplier	1.9	2.72	1.3
5yr Average Asset Turnover Ratio	0.88	0.18	0.62
5yr Avg Net Profit Margin	5.41 %	17.12 %	8.7 %
Price to Book	2.06	2.55	1.61
P/E	0.0	18.57	16.61
5yr Avg Cash Conversion Cycle	35.3 Days	-23.33 Days	186.56 Days
Inventory Days	70.6 Days	44.27 Days	54.35 Days
Days Receivable	83.16 Days	38.18 Days	189.93 Days
Days Payable	111.01 Days	124.28 Days	75.78 Days
5yr Average Interest Coverage Ratio	7.53	65.43	14.68
5yr Avg ROCE	13.6 %	5.91 %	13.27 %
5yr Avg Operating Profit Margin	14.97 %	15.15 %	17.03 %
5 yr average Debt to Equity	0.49	0.0	0.11
5yr CAGR Net Profit	n/a	37.01 %	4.24 %
5yr Average Return on Assets	5.31 %	3.13 %	5.31 %
Shareholdings
Promoter Holding	58.9 %	70.68 %	35.39 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	0.21 %	0.0	0.84 %
Change in Mutual Fund Holding (3 Yrs)	0.31 %	0.0	0.0

	Indoco Remedies	Novartis	Bliss GVS Pharma
Product Wise Break-Up	Product Wise Break-Up Formulations 90.0 Active Pharmaceutical Ingredient (API) 9.0 CRO, Analytical Services 1.0 0 Anti Inflammatory 0 Anti-biotic 0 Anti-bacterial 0 Anti-fungal, 0 Antimalarial 0	Product Wise Break-Up Wholesale of pharmaceuticals and medical goods 100.0 Anti Inflammatory 0 Anti-biotic 0 CRO, Analytical Services 0 Anti-bacterial 0 Antimalarial 0 Anti-fungal, 0 Formulations 0 Active Pharmaceutical Ingredient (API) 0	Product Wise Break-Up 0 Anti Inflammatory 7.0 Antibiotics 5.0 CRO, Analytical Services 0 Anti-bacterial 0 Anti Malarials 43.0 Anti-fungal 16.0 Formulations 0 Active Pharmaceutical Ingredient (API) 0 Others 29.0
Therapeutic Area Wise Break-Up - Domestic	Therapeutic Area Wise Break-Up - Domestic Gastro Intestinal 18.13 Anti-Infective 15.18 Respiratory Systems 14.77 Stomatologicals 13.47 Vitamins / Minerals / Nutrients 9.07 Urology 8.44 Ophthalmology 5.88 Dermatology 5.05 Pain Management 3.41 Cardiac Science 3.12 Anti - Diabetes 2.33 Gynecology 1.17	-	-
Location Wise Break-Up	Location Wise Break-Up India 64.37 Rest of the World 35.63	Location Wise Break-Up Rest of the World 0 India 100.0	Location Wise Break-Up Rest of the World 93.39 India 6.61