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 has officially informed stock exchanges about a GST inspection conducted at its registered office by Maharashtra State GST Department authorities on February 2, 2026.

Regulatory Filing Details

The pharmaceutical company filed a disclosure under Regulation 30 of SEBI Listing Regulations on February 3, 2026, providing comprehensive details about the inspection. The GST authorities visited the company's registered office in exercise of powers under Section 67 of the CGST Act and SGST Act, which pertains to inspection, search and seizure powers.

Scope and Nature of Investigation

According to the official communication from the Assistant Commissioner State Tax, Mumbai, the authorities have requested books of accounts for verification covering the period from 2020-2021 to date. The inspection is being conducted under the formal authorization in Form INS-01.

Company's Compliance Status

Indoco Remedies has confirmed that proceedings are ongoing and the company is cooperating fully by providing data as per requests placed by the authorities. The company has stated that no specific allegations or violations have been communicated so far.

Regulatory Disclosure Requirements

The company has fulfilled its disclosure obligations under SEBI Listing Regulations by informing both NSE and BSE about the inspection. Additionally, the information has been hosted on the company's website at www.indoco.com in compliance with Regulation 46(2) of SEBI Listing Regulations.

The disclosure was signed by Company Secretary and Head-Legal Ramanathan Hariharan, ensuring proper corporate governance protocols are followed during this regulatory process.