Indoco Remedies Ltd.

Financial

	Indoco Remedies	Zota Health Care	Novartis
Operational Metrics
API Sector
US DMF Filings	26.0 .	n/a	n/a
Global DMFs filed	147.0 .	n/a	n/a
Pharmaceutical Sector
Number of ANDA's Filed in USA	57.0 .	n/a	n/a
Number of ANDA's Approved By USFDA	29.0 .	n/a	n/a
Domestic Sales Growth - YoY	-4.3 %	n/a	-5.28 %
R&D as a % of Total Sales	6.0 %	0.09 %	n/a
Financials
5 yr Average ROE	11.09 %	-1.91 %	5.71 %
5yr average Equity Multiplier	1.79	1.71	2.57
5yr Average Asset Turnover Ratio	0.92	0.99	0.22
5yr Avg Net Profit Margin	6.73 %	-0.52 %	11.91 %
Price to Book	2.04	15.34	2.7
P/E	0.0	0.0	22.82
5yr Avg Cash Conversion Cycle	53.79 Days	38.95 Days	-22.58 Days
Inventory Days	66.59 Days	94.16 Days	44.4 Days
Days Receivable	76.04 Days	55.69 Days	38.62 Days
Days Payable	121.65 Days	89.31 Days	118.8 Days
5yr Average Interest Coverage Ratio	7.97	18.17	32.45
5yr Avg ROCE	15.12 %	1.25 %	4.99 %
5yr Avg Operating Profit Margin	15.97 %	5.05 %	10.55 %
5 yr average Debt to Equity	0.38	0.03	0.0
5yr CAGR Net Profit	32.49 %	n/a	53.24 %
5yr Average Return on Assets	6.31 %	-0.16 %	2.24 %
Shareholdings
Promoter Holding	58.9 %	59.72 %	70.68 %
Share Pledged by Promoters	0.0	0.26 %	0.0
Change in Promoter Holding (3 Yrs)	0.21 %	-8.39 %	0.0
Change in Mutual Fund Holding (3 Yrs)	1.0 %	0.03 %	0.0

Business

	Indoco Remedies	Zota Health Care	Novartis
Product Wise Break-Up	Product Wise Break-Up Formulations 91.0 Active Pharmaceutical Ingredient (API) 9.0 CRO, Analytical Services 0 Retail Pharmacy 0 Export 0 0 0	Product Wise Break-Up Active Pharmaceutical Ingredient (API) 0 Pharmacy 57.38 Export 11.1 0 Marketing 31.52 Formulations 0 CRO, Analytical Services 0	Product Wise Break-Up Active Pharmaceutical Ingredient (API) 0 Retail Pharmacy 0 Export 0 Wholesale of pharmaceuticals and medical goods 100.0 0 Formulations 0 CRO, Analytical Services 0
Therapeutic Area Wise Break-Up - Domestic	Therapeutic Area Wise Break-Up - Domestic Stomatologicals 22.92 Gastro Intestinal 14.68 Anti-Infective 13.89 Respiratory Systems 13.68 Vitamins / Minerals / Nutrients 7.36 Urology 7.34 Ophthalmology 5.78 Dermatology 4.57 Pain Management 3.41 Cardiac Science 2.68 Anti - Diabetes 2.54 Gynecology 1.15	-	-
Location Wise Break-Up	Location Wise Break-Up India 69.98 Rest of the World 30.02	Location Wise Break-Up India 81.92 Rest of the World 18.08	Location Wise Break-Up India 100.0 Rest of the World 0