Company Profile

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Indoco Remedies has informed that the Committee of Executive Directors at its meeting held on 05th April, 2024 approved the Corporate Guarantee upto a maximum principal amount of Rs 25 Crores in favour of HDFC Bank in respect of the Loan/Credit Facilities to be availed in tranches by Warren Remedies, wholly owned subsidiary of the Company. The Committee Meeting commenced today at 3.00 pm and concluded at 3.30 pm. The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023 are mentioned in Annexure ‘A’.

The above information is a part of company’s filings submitted to BSE.

Indoco Remedies’ Wholly Owned Subsidiary -- Warren Remedies has commenced its commercial production on March 24, 2024 from its Greenfield manufacturing facility located at Aurangabad, Maharashtra to manufacture Pharmaceutical Intermediates and Active Pharmaceutical Ingredients (APIs). The said manufacturing facility will provide the company requisite capabilities and edge in meeting demand of APIs.

Indoco Remedies is engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs) in India.

Indoco Remedies is currently trading at Rs. 337.90, up by 2.55 points or 0.76% from its previous closing of Rs. 335.35 on the BSE.

The scrip opened at Rs. 349.80 and has touched a high and low of Rs. 349.80 and Rs. 337.80 respectively. So far 2300 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 416.95 on 01-Jan-2024 and a 52 week low of Rs. 307.00 on 26-Apr-2023.

Last one week high and low of the scrip stood at Rs. 349.80 and Rs. 323.25 respectively. The current market cap of the company is Rs. 3133.57 crore.

The promoters holding in the company stood at 58.74%, while Institutions and Non-Institutions held 21.25% and 20.0 % respectively.

Indoco Remedies’ Wholly Owned Subsidiary -- Warren Remedies has commenced its commercial production on March 24, 2024 from its Greenfield manufacturing facility located at Aurangabad, Maharashtra to manufacture Pharmaceutical Intermediates and Active Pharmaceutical Ingredients (APIs). The said manufacturing facility will provide the company requisite capabilities and edge in meeting demand of APIs.

Indoco Remedies is engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs) in India.

Tech Mahindra has signed a strategic partnership with Etihad Etisalat (Mobily), a leading technology media and telecom (TMT) company in Saudi Arabia, to deliver best-in-class loyalty programs for individual and business customers. With a focus on elevating customer loyalty programs, the partnership will deploy Comviva's GenAI-powered next-generation MobiLytix Rewards to revamp Mobily’s Neqaty loyalty program. Comviva, a Tech Mahindra company, is the global leader in customer experience and data monetization solutions.

Muthoot Capital Services and evfin, the 100% ev-focused lending platform of Greaves Finance have entered into partnership to launch a pioneering co-lending arrangement to increase the availability of electric two-wheeler financing solutions across India. The collaboration entails a total deal size of up to Rs 150 crore ($18 million), highlighting the scale and ambition of the initiative to drive widespread adoption of electric vehicles in India. As the demand for electric vehicles (EVs) continues to surge in India, this collaboration underscores both companies' commitment to accelerating the adoption of sustainable transportation alternatives.

Indoco Remedies has received an approval to purchase land (which was previously held by the Company on leasehold rights) admeasuring 2,860.75 square meters situated at Mahal Industrial Estate, Taluka Andheri, District Mumbai Suburban from an unrelated third-party seller ‘Saldanha Realty and Infrastructure LLP’ for the expansion plans of the Company. Accordingly, the Company executed the Indenture of Conveyance for the purchase of the aforesaid land.  The Committee of Executive Directors at its meeting held on March 12, 2024 has approved the same. 

Likhitha Infrastructure has received an order worth Rs 106.12 crore from Hindustan Petroleum Corporation. 

Gulshan Polyols has received an order against tender floated by Excise Department, Government of Madhya Pradesh for supplying of country liquor for an around quantity of 66.2 lakh proof litre in three districts of Madhya Pradesh i.e. Chhindwara, Balaghat and Singrauli, for the financial year 2024-2025. 

ITC has acquired 2,356 Compulsorily Convertible Preference Shares of Rs 10 each of Sproutlife Foods (Sproutlife), in terms of the Securities Subscription & Purchase Agreement and the Shareholders Agreement executed on April 19, 2023. The cost of acquisition is Rs 50 crore. 

Star Cement’s subsidiary -- Star Cement North East has started its commercial operation of the newly setup 2 MTPA Cement Grinding unit situated at Chamta Pathar, Sonapur, Kamrup, Assam. Star Cement North East has started its commercial operation on March 12, 2024.