The stock climbed to an intraday high of ₹269.90, up 17.9% from the day’s low of ₹229. As of 2:12 pm, Indoco Remedies shares were trading at ₹258.44 on the NSE, up 11.79% or ₹27.26.
The UK-MHRA inspected the company’s solid dosage manufacturing facility at Goa Plant I from September 7 to September 9. Indoco Remedies said the current Good Manufacturing Practices (cGMP) inspection concluded with no critical or major observations.
The facility caters to regulated markets including the UK, Europe, South Africa, New Zealand, Australia and Canada, and is expected to contribute around 30% of the company’s total international business.
“This further testifies our unwavering commitment to Good Manufacturing Practices and world class quality standards,” said Aditi Panandikar, Managing Director of Indoco Remedies.
The positive regulatory update comes against the backdrop of a sharp improvement in the company’s June quarter performance. Indoco Remedies reported a net profit of ₹65 crore for Q1FY27, compared with a net loss of ₹36 crore in the year-ago quarter. Revenue from operations rose 6.4% year-on-year to ₹467 crore from ₹439 crore.
Operating performance also improved, with EBITDA rising to ₹40.8 crore from ₹16.7 crore a year ago. EBITDA margin consequently expanded to 8.7% from 3.8%.Also Read: Indoco Remedies swings to profit in Q1; EBITDA margin more than doubles
However, the company had faced a regulatory setback earlier this week. The US Food and Drug Administration (USFDA) issued seven observations in Form 483 following an inspection of Indoco’s Plant II (Sterile) facility in Goa from August 27 to September 4. The company said it is addressing the observations comprehensively and will submit its response within the stipulated timeframe.
