Indoco Remedies Limited (INDOCO) - Net Assets

Latest as of March 2026: Rs9.32 Billion INR ≈ $100.81 Million USD

Based on the latest financial reports, Indoco Remedies Limited (INDOCO) has net assets worth Rs9.32 Billion INR (≈ $100.81 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs25.93 Billion ≈ $280.45 Million USD) and total liabilities (Rs16.61 Billion ≈ $179.65 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Indoco Remedies Limited (INDOCO) tangible equity ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs9.32 Billion
% of Total Assets	35.94%
Annual Growth Rate	11.32%
5-Year Change	3.04%
10-Year Change	43.06%
Growth Volatility	20.12

Indoco Remedies Limited - Net Assets Trend (2004–2026)

This chart illustrates how Indoco Remedies Limited's net assets have evolved over time, based on quarterly financial data. See INDOCO defensive asset coverage days to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Indoco Remedies Limited (2004–2026)

The table below shows the annual net assets of Indoco Remedies Limited from 2004 to 2026. For live valuation and market cap data, see how much is Indoco Remedies Limited worth.

Year	Net Assets	Change
2026-03-31	Rs9.32 Billion ≈ $100.81 Million	-8.47%
2025-03-31	Rs10.18 Billion ≈ $110.13 Million	-8.30%
2024-03-31	Rs11.10 Billion ≈ $120.10 Million	+8.00%
2023-03-31	Rs10.28 Billion ≈ $111.20 Million	+13.66%
2022-03-31	Rs9.05 Billion ≈ $97.83 Million	+17.64%
2021-03-31	Rs7.69 Billion ≈ $83.16 Million	+13.16%
2020-03-31	Rs6.80 Billion ≈ $73.49 Million	+2.87%
2019-03-31	Rs6.61 Billion ≈ $71.44 Million	-2.13%
2018-03-31	Rs6.75 Billion ≈ $73.00 Million	+3.60%
2017-03-31	Rs6.52 Billion ≈ $70.46 Million	+11.51%
2016-03-31	Rs5.84 Billion ≈ $63.19 Million	+12.63%
2015-03-31	Rs5.19 Billion ≈ $56.11 Million	+13.43%
2014-03-31	Rs4.57 Billion ≈ $49.47 Million	+10.47%
2013-03-31	Rs4.14 Billion ≈ $44.78 Million	+7.61%
2012-03-31	Rs3.85 Billion ≈ $41.61 Million	+9.87%
2011-03-31	Rs3.50 Billion ≈ $37.87 Million	+12.78%
2010-03-31	Rs3.11 Billion ≈ $33.58 Million	+11.52%
2009-03-31	Rs2.78 Billion ≈ $30.11 Million	+9.52%
2008-03-31	Rs2.54 Billion ≈ $27.50 Million	+9.11%
2007-03-31	Rs2.33 Billion ≈ $25.20 Million	+17.46%
2006-03-31	Rs1.98 Billion ≈ $21.45 Million	+13.16%
2005-03-31	Rs1.75 Billion ≈ $18.96 Million	+99.20%
2004-03-31	Rs880.11 Million ≈ $9.52 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Indoco Remedies Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have decreased by 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (March 2026)

Component	Amount	Percentage
Common Stock	Rs184.60 Million	1.97%
Other Components	Rs9.21 Billion	98.03%
Total Equity	Rs9.39 Billion	100.00%

Indoco Remedies Limited Competitors by Market Cap

The table below lists competitors of Indoco Remedies Limited ranked by their market capitalization.

Company	Market Cap
Singer Thailand Public Company Limited BK:SINGER	$232.47 Million
Aviva PLC LSE:AV	$232.53 Million
centrotherm international AG F:CTNK	$232.57 Million
Ajinomoto Malaysia Bhd KLSE:2658	$232.63 Million
Tungsten Mining NL AU:TGN	$232.18 Million
Vecima Networks Inc. TO:VCM	$232.17 Million
EBEST Investment & Securities Co. Ltd KQ:078020	$232.17 Million
Mulpha International Bhd KLSE:3905	$232.15 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Indoco Remedies Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2025 to 2026, total equity changed from 10,220,000,000 to 9,392,800,000, a change of -827,200,000 (-8.1%).
Net loss of 987,000,000 reduced equity.
Dividend payments of 19,100,000 reduced retained earnings.
Other comprehensive income decreased equity by 2,648,284,000.
Other factors increased equity by 2,827,184,000.

Equity Change Factors (2025 to 2026)

Factor	Impact	Contribution
Net Income	Rs-987.00 Million	-10.51%
Dividends Paid	Rs19.10 Million	-0.2%
Other Comprehensive Income	Rs-2.65 Billion	-28.19%
Other Changes	Rs2.83 Billion	+30.1%
Total Change	Rs-	-8.09%

Book Value vs Market Value Analysis

This analysis compares Indoco Remedies Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 2.21x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has decreased from 17.51x to 2.21x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2004-03-31	Rs13.30	Rs232.97	x
2005-03-31	Rs22.91	Rs232.97	x
2006-03-31	Rs22.37	Rs232.97	x
2007-03-31	Rs26.02	Rs232.97	x
2008-03-31	Rs27.59	Rs232.97	x
2009-03-31	Rs30.22	Rs232.97	x
2010-03-31	Rs33.70	Rs232.97	x
2011-03-31	Rs38.00	Rs232.97	x
2012-03-31	Rs41.75	Rs232.97	x
2013-03-31	Rs44.93	Rs232.97	x
2014-03-31	Rs49.61	Rs232.97	x
2015-03-31	Rs56.30	Rs232.97	x
2016-03-31	Rs63.41	Rs232.97	x
2017-03-31	Rs70.71	Rs232.97	x
2018-03-31	Rs73.25	Rs232.97	x
2019-03-31	Rs72.80	Rs232.97	x
2020-03-31	Rs73.75	Rs232.97	x
2021-03-31	Rs83.45	Rs232.97	x
2022-03-31	Rs98.17	Rs232.97	x
2023-03-31	Rs111.46	Rs232.97	x
2024-03-31	Rs118.46	Rs232.97	x
2025-03-31	Rs119.28	Rs232.97	x
2026-03-31	Rs105.53	Rs232.97	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Indoco Remedies Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): -10.51%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -5.35%
• Asset Turnover: 0.71x
• Equity Multiplier: 2.76x
Recent ROE (-10.51%) is below the historical average (10.77%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2004	24.16%	13.56%	1.04x	1.71x	Rs124.59 Million
2005	14.28%	12.90%	0.68x	1.63x	Rs75.11 Million
2006	15.87%	12.94%	0.78x	1.57x	Rs116.53 Million
2007	18.04%	12.90%	0.94x	1.49x	Rs187.37 Million
2008	16.02%	11.63%	0.94x	1.47x	Rs153.14 Million
2009	10.81%	11.46%	0.63x	1.49x	Rs22.52 Million
2010	13.56%	10.57%	0.83x	1.54x	Rs110.42 Million
2011	14.60%	10.57%	0.86x	1.61x	Rs160.98 Million
2012	12.04%	8.15%	0.87x	1.71x	Rs78.66 Million
2013	10.30%	6.77%	0.91x	1.66x	Rs12.54 Million
2014	12.68%	7.91%	1.00x	1.60x	Rs122.66 Million
2015	15.96%	9.66%	1.01x	1.63x	Rs309.32 Million
2016	14.20%	8.27%	1.04x	1.65x	Rs245.49 Million
2017	11.83%	7.03%	0.92x	1.84x	Rs119.06 Million
2018	6.10%	4.04%	0.82x	1.83x	Rs-263.37 Million
2019	-0.44%	-0.31%	0.75x	1.90x	Rs-689.66 Million
2020	3.55%	2.23%	0.85x	1.87x	Rs-438.40 Million
2021	12.10%	7.64%	0.93x	1.71x	Rs161.46 Million
2022	17.11%	10.29%	1.01x	1.64x	Rs643.36 Million
2023	13.83%	8.67%	0.99x	1.61x	Rs394.25 Million
2024	8.87%	5.51%	0.83x	1.93x	Rs-125.30 Million
2025	-7.22%	-4.43%	0.69x	2.38x	Rs-1.76 Billion
2026	-10.51%	-5.35%	0.71x	2.76x	Rs-1.93 Billion

Industry Comparison

This section compares Indoco Remedies Limited's net assets metrics with peer companies in the Drug Manufacturers - Specialty & Generic industry.

Industry Context

Industry: Drug Manufacturers - Specialty & Generic
Average net assets among peers: $17,320,289,591
Average return on equity (ROE) among peers: 16.12%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Indoco Remedies Limited (INDOCO)	Rs9.32 Billion	24.16%	1.78x	$232.23 Million
Aarey Drugs & Pharmaceuticals Limited (AAREYDRUGS)	$1.33 Billion	3.53%	1.28x	$24.20 Million
Aarti Drugs Limited (AARTIDRUGS)	$1.76 Billion	12.24%	2.47x	$366.49 Million
Aarti Pharmalabs Limited (AARTIPHARM)	$2.27 Million	-2.03%	0.10x	$626.77 Million
Abbott India Limited (ABBOTINDIA)	$8.33 Billion	20.02%	0.37x	$6.00 Billion
Ajanta Pharma Limited (AJANTPHARM)	$2.98 Billion	25.93%	1.18x	$4.16 Billion
Akums Drugs and Pharmaceutical (AKUMS)	$30.64 Billion	11.04%	0.34x	$988.23 Million
Alkem Laboratories Limited (ALKEM)	$88.47 Billion	18.60%	0.59x	$6.92 Billion
Amrutanjan Health Care Limited (AMRUTANJAN)	$183.78 Million	32.19%	1.01x	$169.18 Million
Alembic Pharmaceuticals Limited (APLLTD)	$16.01 Billion	44.99%	0.54x	$1.59 Billion
Aurobindo Pharma Limited (AUROPHARMA)	$23.50 Billion	-5.26%	1.65x	$8.69 Billion

About Indoco Remedies Limited

NSE:INDOCO India Drug Manufacturers - Specialty & Generic

Market Cap

$232.23 Million

Rs21.47 Billion INR

Market Cap Rank

#16069 Global

#820 in India

Share Price

Rs232.97

Change (1 day)

-2.75%

52-Week Range

Rs164.00 - Rs339.10

All Time High

Rs511.66