Indoco Remedies Q2 FY27 Results: Consolidated Net Profit ₹19.47 Crore on Total Income of ₹522 Crore

Summary

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Consolidated net profit of ₹19.47 crore is well below the ₹65.44 crore of the previous quarter, even though total income rose 11.2% QoQ. Profit before tax was ₹24.19 crore against ₹77.72 crore in the previous quarter, and the year-ago quarter shows a loss before tax of ₹13.53 crore.

The quarter includes a gain of ₹36.63 crore on the sale of the Andheri (East) property, which the filing says was classified as held for sale at 31 Mar 2026 under Ind AS 105. That gain is larger than the consolidated profit before tax of ₹24.19 crore. A separate ₹51 lakh consideration for a trademark licence is also listed as an exceptional item.

Finance costs fell to ₹26.91 crore from ₹55.20 crore a year earlier, and depreciation to ₹34.44 crore from ₹68.97 crore. Revenue from operations rose 7.4% YoY to ₹507 crore, so the year-on-year gain in profit sits alongside lower finance and depreciation charges.

Tax expense was ₹4.72 crore, about 19.5% of profit before tax, and the attributable profit of ₹18.38 crore is ₹1.09 crore below total net profit, the difference being non-controlling interest.

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Standalone net profit of ₹30.63 crore is up 103.5% on the year-ago quarter of ₹15.05 crore, while total income rose only 1.9%. Profit before tax of ₹34.70 crore compares with ₹9.76 crore a year earlier, and with ₹93.22 crore in the previous quarter.

The same ₹36.63 crore Andheri (East) gain is reported in the standalone results. Other income of ₹5.02 crore is about 14.5% of profit before tax, and tax expense of ₹4.07 crore is about 11.7% of it.

Revenue from operations rose 2.0% YoY to ₹438.06 crore and 7.3% QoQ. Standalone finance costs of ₹19.87 crore are 4.4% of total income.

Inference

The filing says the auditors' review of the subsidiaries Warren Remedies Private Limited and FPP Holding LLC notes a material uncertainty about going concern for the respective companies, with negative net worths of ₹17.35 crore and ₹30.83 crore. The auditors' opinion is not modified on this matter, and management says no impairment provision was considered necessary at this stage.

Warren Lifesciences Private Limited was incorporated on 26 Sep 2026 and is treated as a wholly owned subsidiary. The reason for the change in consolidated profit, the plan for the new subsidiary, and whether the dividend will be declared are not stated in the filing.

Reference: Original filing (PDF)