Indoco Remedies has announced its Q3FY26 quarterly results for the quarter ended 31st December 2025, reporting mixed financial performance with revenue growth offset by widening losses. The pharmaceutical company's board meeting held on 3rd February 2026 approved the unaudited standalone and consolidated financial results under Regulation 33 of SEBI listing requirements.

Revenue Performance Shows Steady Growth

The company demonstrated solid consolidated revenue performance with total income from operations reaching ₹4,454 million, representing a 7% year-on-year increase from ₹4,106 million in Q3FY25. On a standalone basis, revenue from operations stood at ₹3,896 million compared to ₹3,649 million in the corresponding quarter of the previous year.

Operational Performance Shows Strong Recovery

The company's EBITDA performance demonstrated remarkable improvement across both standalone and consolidated operations. Consolidated EBITDA rose to ₹259 million from ₹201 million in Q3FY25, registering a 29% growth. This significant improvement in operational efficiency indicates the company's enhanced cost management and business optimization efforts.

Bottom Line Challenges Persist

Despite strong revenue growth and operational improvements, the company's consolidated net loss widened to ₹295 million from ₹284 million in Q3FY25. On a standalone basis, the net loss increased to ₹200 million from ₹102 million in the corresponding quarter of the previous year. The company's earnings per share on a consolidated basis stood at ₹(3.20) compared to ₹(3.08) in Q3FY25.

Regulatory Compliance and Exceptional Items

The company's financial results include exceptional items totaling ₹615 million on a consolidated basis, primarily comprising consideration received of ₹253 million for trademark licensing rights, loss of ₹213 million on sale and leaseback of non-current assets, and ₹708 million impact from implementation of New Labour Codes effective 21st November 2025. The statutory auditors M/s. Gokhale & Sathe have issued an unmodified opinion on the unaudited financial results.

Business Outlook and Geographic Performance

Managing Director Ms. Aditi Panandikar attributed the revenue growth primarily to the Export Formulations business and API business segments. The company's geographic revenue split shows India contributing ₹2,954 million and international markets ₹1,389 million to consolidated operations. With a global presence spanning multiple manufacturing facilities and regulatory approvals from USFDA and UK-MHRA, the company continues to focus on its integrated pharmaceutical operations across domestic and international markets.

Source: Indoco Remedies Limited regulatory filing

Indoco Remedies , a pharmaceutical company, has confirmed that GST officials conducted an inspection at its office premises as part of ongoing investigations.

Regulatory Inspection Details

The inspection by GST authorities took place at the company's office, indicating potential scrutiny of tax-related matters. Such inspections are typically conducted as part of routine compliance checks or specific investigative procedures by tax authorities.

Company's Response and Cooperation

Indoco Remedies has stated that it is providing full assistance to the GST officials during the ongoing investigation. The company appears to be maintaining a cooperative stance with the regulatory authorities.

Ongoing Investigation Process

The pharmaceutical company is currently engaged in the investigation process, working alongside the GST officials to address any queries or requirements. The company's commitment to transparency and regulatory compliance is evident through its cooperative approach during this inspection phase.

As the investigation continues, Indoco Remedies remains focused on maintaining compliance with all applicable regulations while supporting the authorities in their review process.