Indoco Remedies will hold a meeting of the Board of Directors of the Company on 11 August 2020.

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Indoco Remedies announced that the Board of Directors of the Company at its meeting held on 24 June 2020, has recommended a Final dividend of Rs.0.30 per share (i.e.15%), subject to the approval of the shareholders.

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Profit before tax stood at Rs 7.76 crore in Q4 FY20, down 16.1% from Rs 9.25 crore in Q4 FY19.

On a standalone basis, the company's tumbled 53.6% to Rs 5.4 crore on 7.4% increase in net sales to Rs 263.17 crore in Q4 March 2020 over Q4 March 2019. EBITDA rose 16.84% to Rs 33.30 crore during the quarter. EBITDA margin stood at 12.7% in Q4 FY20, higher than 11.7% in Q4 FY19. The domestic formulation business grew by 10.3% and the international formulation business rose 12.5% during the quarter.

Aditi Panandikar, managing director, Indoco Remedies, said, The company's domestic and international salesfor the quarter got impacted due to supply chain issues and the ban on Paracetamol exports in the month of March'20 due to Covid-19. However, we have adapted to the new normal and are trying to minimize the impact of the pandemic.

Indoco Remedies is a fully integrated, research-oriented pharma company with presence in 55 countries.

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Net profit of Indoco Remedies declined 53.35% to Rs 5.36 crore in the quarter ended March 2020 as against Rs 11.49 crore during the previous quarter ended March 2019. Sales rose 7.40% to Rs 263.14 crore in the quarter ended March 2020 as against Rs 245.00 crore during the previous quarter ended March 2019.

For the full year,net profit reported to Rs 24.12 crore in the year ended March 2020 as against net loss of Rs 2.90 crore during the previous year ended March 2019. Sales rose 14.64% to Rs 1079.98 crore in the year ended March 2020 as against Rs 942.08 crore during the previous year ended March 2019.

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