Indoco Remedies Ltd. benchmarking: Perfomance to industry peers

Financial

	Indoco Remedies	Panacea Biotec	Kwality Pharma
Operational Metrics
Pharmaceuticals
Number of ANDA's Filed in USA	54.0 .	6.0 .	n/a
Number of ANDA's Approved By USFDA	32.0 .	n/a	n/a
Domestic Sales Growth - YoY	4.0 %	n/a	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 %	9.86 %	n/a
Financials
5 yr Average ROE	8.94 %	36.5 %	25.27 %
5yr average Equity Multiplier	1.9	0.36	1.96
5yr Average Asset Turnover Ratio	0.88	0.41	1.05
5yr Avg Net Profit Margin	5.41 %	26.1 %	11.66 %
Price to Book	1.89	2.43	5.42
P/E	0.0	0.0	27.79
5yr Avg Cash Conversion Cycle	35.3 Days	-170.26 Days	55.02 Days
Inventory Days	70.6 Days	120.03 Days	67.04 Days
Days Receivable	83.16 Days	42.2 Days	132.46 Days
Days Payable	111.01 Days	325.14 Days	126.93 Days
5yr Average Interest Coverage Ratio	7.53	2.7	16.13
5yr Avg ROCE	13.6 %	-2.79 %	34.73 %
5yr Avg Operating Profit Margin	14.97 %	-3.85 %	23.23 %
5 yr average Debt to Equity	0.49	-0.69	0.46
5yr CAGR Net Profit	n/a	-43.68 %	21.34 %
5yr Average Return on Assets	5.31 %	9.32 %	12.96 %
Shareholdings
Promoter Holding	58.9 %	72.48 %	54.83 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	0.21 %	-1.11 %	0.38 %
Change in Mutual Fund Holding (3 Yrs)	0.27 %	0.0	0.0

	Indoco Remedies	Panacea Biotec	Kwality Pharma
Product Wise Break-Up	Product Wise Break-Up Formulations 90.0 Active Pharmaceutical Ingredient (API) 9.0 CRO, Analytical Services 1.0 Research and Development 0 Formulations 0 Vaccines 0	Product Wise Break-Up Formulations 35.66 Active Pharmaceutical Ingredient (API) 0 Vaccines 64.34 Research and Development 0 CRO, Analytical Services 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 Hormones 0 Blood Related 0 Vaccines 0 Vitamins 0 Anti-Neoplastics 0 Pain/Analgesics 0	Therapeutic Area Wise Break-Up - Domestic Vitamins / Minerals / Nutrients 6.09 Gastro Intestinal 13.47 Cardiac Science 0 Anti-Neoplastics 8.18 Blood Related 2.99 Dermatology 0 Hormones 0.6 Pain Management 0 Ophthalmology 0 Vaccines 5.39 Stomatologicals 0 Pain Management 12.87 Urology 0 Vitamins / Minerals / Nutrients 0 Anti-Infective 0 Anti - Diabetes 0 Gynecology 0 Respiratory Systems 0 Others 50.41	-
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 86.09 India 13.91	Location Wise Break-Up Rest of the World 0 India 47.21 Others 52.79