Indoco Remedies532612Quarterly results
Q2 results approved; auditor's emphasis of matter flags going-concern doubt at two subsidiaries
Board of Indoco Remedies met on 27 October 2026 and approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026.
By ScoutQuest · · 2 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 50,692 | 47,183 | +7.4% | 46,622 | +8.7% |
| Total income | 52,214 | 48,543 | +7.6% | 46,968 | +11.2% |
| Profit before tax | 2,419 | (1,353) | — | 7,772 | −68.9% |
| Profit after tax | 1,947 | (921) | — | 6,544 | −70.2% |
| Total comprehensive income | 1,913 | (663) | — | 6,612 | −71.1% |
| Basic EPS | 2.11 | (1.30) | — | 7.09 | −70.2% |
- Total income growth
- Year ago 48,543 (+7.6%); Prev qtr 46,968 (+11.2%)
- Profit after tax
- Latest 1,947; Year ago (921); Prev qtr 6,544 (−70.2%)
- Period
- Quarter ended 30.09.2026 (Unaudited)
Auditor's review
Conclusion: Unmodified
Notes to the results
- Exceptional items of Rs 3,714 lakhs in the quarter include gain on sale of the Company's Andheri (East), Mumbai property of Rs 3,663 Lakhs (held for sale as at 31 March 2026 under Ind AS 105).
- Exceptional items also include consideration of Rs. 51 lakhs received for grant of exclusive, perpetual and irrevocable license rights in respect of the company's trademarks.
- Warren Lifesciences Private Limited was incorporated on 26 September 2026 and is considered a wholly-owned subsidiary in accordance with Ind AS 110.
What the board approved
- The board met on 27 October 2026 and approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026.
- The results carry a limited review report from statutory auditors Gokhale & Sathe LLP.
Auditor's conclusion
The limited review report carries an unmodified opinion. The auditors said nothing came to their attention that causes them to believe the statements contain a material misstatement or fail to make the required disclosures. This is a review, not a full audit.
The caution inside the report
The auditors added an Emphasis of Matter on two subsidiaries
- FPP Holding LLC: earned a net profit in the quarter and cumulatively for the half year, but continued to have a negative net worth of Rs. 3,082.60 lakhs.
- Warren Remedies Private Limited: recorded a net loss in the quarter and has a negative net worth of Rs. 1,735.04 lakhs.
- The auditors said these conditions indicate a material uncertainty that may cast significant doubt on the ability of these companies to continue as going concerns.
- Management carried out an impairment test of the investments in these subsidiaries and estimated recoverable amounts above their carrying values, so no impairment provision was considered necessary. The auditors' opinion is not modified on this matter.
Standalone results, quarter ended 30 September 2026
- Revenue from operations: Rs. 43,806 lakhs.
- Profit for the period: Rs. 3,063 lakhs, against Rs. 8,232 lakhs in the same quarter a year earlier.
- Exceptional items of Rs. 3,714 lakhs are included in the quarter, arising from the sale of a property at Andheri (East) and consideration received for licence rights over the company's trademarks.
Consolidated results, quarter ended 30 September 2026
- Revenue from operations: Rs. 50,692 lakhs.
- Profit for the period: Rs. 1,947 lakhs, lower than the same quarter a year earlier.
What a retail investor can take away
- The figures are unaudited and have been reviewed, not audited; the half-year numbers cover 1 April 2026 to 30 September 2026.
- The standalone quarter includes a one-off exceptional item, so profit for the period is not a like-for-like comparison with an ordinary quarter.
- The emphasis of matter is a pointer to track the negative net worth at the two subsidiaries, while the review opinion itself stays unmodified.
₹3,714 lakhExceptional items, standalone, (Rs. in lakhs
Profit for the period, consolidated, (Rs. in lakhs₹1,947 lakh
Warren Remedies Private Limited negative net worth (Rs. in lakhs₹1,735.04 lakh
₹3,063 lakh-62.8%
Q2₹8,232 lakhQ2₹3,063 lakh
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More numbers
- Revenue from operations, standalone, Q2 (Rs. in lakhs)43,806
- Profit for the period, standalone, Q2 (Rs. in lakhs)3,063
- Profit for the period, standalone, Q2 previous year (Rs. in lakhs)8,232
- Exceptional items, standalone, Q2 (Rs. in lakhs)3,714
- FPP Holding LLC negative net worth (Rs. in lakhs)3,082.60
- Warren Remedies Private Limited negative net worth (Rs. in lakhs)1,735.04
- Total income, latest quarter52,214 (Rs. In Lakhs)
- Total income, year-ago quarter48,543 (Rs. In Lakhs)
- Total income, previous quarter46,968 (Rs. In Lakhs)
- Total comprehensive income, latest quarter1,913 (Rs. In Lakhs)
- Total comprehensive income, year-ago quarter(663) (Rs. In Lakhs)
- Total comprehensive income, previous quarter6,612 (Rs. In Lakhs)
- Profit after tax, latest quarter1,947 (Rs. In Lakhs)
- Profit after tax, year-ago quarter(921) (Rs. In Lakhs)
- Profit after tax, previous quarter6,544 (Rs. In Lakhs)
- Revenue from operations, latest quarter50,692 (Rs. In Lakhs)
- Revenue from operations, year-ago quarter47,183 (Rs. In Lakhs)
- Revenue from operations, previous quarter46,622 (Rs. In Lakhs)
- Profit before tax, latest quarter2,419 (Rs. In Lakhs)
- Profit before tax, year-ago quarter(1,353) (Rs. In Lakhs)
- Profit before tax, previous quarter7,772 (Rs. In Lakhs)
Source: BSE · 27 Oct 2026
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