Indoco Remedies

Ajay Karajagi, President-Sales Marketing at Indoco Remedies Limited, will retire from the company effective close of business hours on November 30, 2025. The pharmaceutical company has notified stock exchanges NSE and BSE about this senior management personnel change as per regulatory requirements.

The Kare family promoters of Indoco Remedies transferred 4.72 crore shares (51.27% stake) to their newly formed Kare Family Private Trust through off-market transactions. The transfers occurred between family members including Suresh Govind Kare, Aruna Suresh Kare, Aditi Milind Panandikar, and Madhura Suresh Kare for succession planning and asset streamlining purposes.

Indoco Remedies Limited reported standalone net revenues of INR 4,293 million for Q2 FY26, representing 8.8% growth compared to INR 3,946 million in the same quarter last year. Consolidated revenues reached INR 4,718 million, up 9.6% from INR 4,307 million year-over-year. Standalone EBITDA margin was 12.4% at INR 534 million versus 13.4% in the previous year. The company launched 6 new products in the India market during the quarter, including Vepazil anti-infective and TuspelAA for COPD conditions. The US FDA completed an inspection of the API manufacturing facility at Patalganga with zero observations. The company received final ANDA approval from US FDA for Rivaroxaban tablets. Domestic formulation revenues were INR 2,261 million compared to INR 2,346 million previously, while international formulation revenues increased to INR 1,533 million from INR 1,262 million. US business revenues grew to INR 336 million from INR 247 million, and emerging markets revenues rose significantly to INR 618 million from INR 396 million. API business revenues increased to INR 431 million from INR 301 million. Management expressed confidence about returning to consistent financial performance, noting this was the first quarter showing an uptick after difficult periods due to planned and unplanned plant shutdowns.