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Indoco Remedies Ltd
NSE:INDOCO

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Indoco Remedies Ltd
NSE:INDOCO
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Price: 211.6 INR 4.54% Market Closed
Market Cap: ₹19.5B

EV/EBITDA

27.5
Current
66%
More Expensive
vs 3-y median of 16.6

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
27.5
=
Enterprise Value
₹23.4B
/
EBITDA
₹880m

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
27.5
=
Enterprise Value
₹23.4B
/
EBITDA
₹880m

Valuation Scenarios

Indoco Remedies Ltd is trading above its 3-year average

If EV/EBITDA returns to its 3-Year Average (16.6), the stock would be worth ₹127.71 (40% downside from current price).

Statistics
Positive Scenarios
0/4
Maximum Downside
-44%
Maximum Upside
No Upside Scenarios
Average Downside
36%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 27.5 ₹211.6
0%
3-Year Average 16.6 ₹127.71
-40%
5-Year Average 15.4 ₹118.02
-44%
Industry Average 21.2 ₹162.64
-23%
Country Average 17.7 ₹135.73
-36%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
₹23.4B
/
Jan 2026
₹880m
=
27.5
Current
₹23.4B
/
Mar 2026
₹1.2B
=
19.9
Forward
₹23.4B
/
Mar 2027
₹3B
=
7.9
Forward
₹23.4B
/
Mar 2028
₹3.6B
=
6.6
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
IN
Indoco Remedies Ltd
NSE:INDOCO
19.5B INR 27.5 -17.1
US
Eli Lilly and Co
NYSE:LLY
871.6B USD 28.5 42.2
US
Johnson & Johnson
NYSE:JNJ
578.1B USD 15 21.6
CH
Roche Holding AG
SIX:ROG
248.4B CHF 11.6 19.6
UK
AstraZeneca PLC
LSE:AZN
231.4B GBP 16.6 30
US
Merck & Co Inc
NYSE:MRK
296.9B USD 10.1 16.3
CH
Novartis AG
SIX:NOVN
231.4B CHF 12.8 20.7
IE
Endo International PLC
LSE:0Y5F
244.4B USD 386.8 -83.6
DK
Novo Nordisk A/S
CSE:NOVO B
1.1T DKK 7.9 10.7
US
Pfizer Inc
NYSE:PFE
155.5B USD 7.6 19.8
UK
GlaxoSmithKline PLC
LSE:GSK
89.3B GBP 8.4 15.6
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
IN
Indoco Remedies Ltd
NSE:INDOCO
Average EV/EBITDA: 48.4
27.5
53%
0.5
US
Eli Lilly and Co
NYSE:LLY
28.5
21%
1.4
US
Johnson & Johnson
NYSE:JNJ
15
2%
7.5
CH
Roche Holding AG
SIX:ROG
11.6
6%
1.9
UK
AstraZeneca PLC
LSE:AZN
16.6
12%
1.4
US
Merck & Co Inc
NYSE:MRK
10.1
4%
2.5
CH
Novartis AG
SIX:NOVN
12.8
5%
2.6
IE
E
Endo International PLC
LSE:0Y5F
386.8
N/A N/A
DK
Novo Nordisk A/S
CSE:NOVO B
7.9
2%
4
US
Pfizer Inc
NYSE:PFE
7.6
-8%
N/A
UK
GlaxoSmithKline PLC
LSE:GSK
8.4
3%
2.8
P/E Multiple
Earnings Growth PEG
IN
Indoco Remedies Ltd
NSE:INDOCO
Average P/E: 21.8
Negative Multiple: -17.1
N/A N/A
US
Eli Lilly and Co
NYSE:LLY
42.2
31%
1.4
US
Johnson & Johnson
NYSE:JNJ
21.6
8%
2.7
CH
Roche Holding AG
SIX:ROG
19.6
14%
1.4
UK
AstraZeneca PLC
LSE:AZN
30
25%
1.2
US
Merck & Co Inc
NYSE:MRK
16.3
14%
1.2
CH
Novartis AG
SIX:NOVN
20.7
14%
1.5
IE
E
Endo International PLC
LSE:0Y5F
Negative Multiple: -83.6 N/A N/A
DK
Novo Nordisk A/S
CSE:NOVO B
10.7
0%
N/A
US
Pfizer Inc
NYSE:PFE
19.8
22%
0.9
UK
GlaxoSmithKline PLC
LSE:GSK
15.6
14%
1.1

Market Distribution

In line with most companies in India
Percentile
70th
Based on 2 785 companies
70th percentile
27.5
Low
0.4 — 11.9
Typical Range
11.9 — 27.8
High
27.8 —
Distribution Statistics
India
Min 0.4
30th Percentile 11.9
Median 17.7
70th Percentile 27.8
Max 47 834.4

Indoco Remedies Ltd
Glance View

Market Cap
19.5B INR
Industry
Pharmaceuticals

Indoco Remedies Ltd. engages in manufacturing and marketing of Formulations (Finished Dosage Forms) and active pharmaceutical ingredients. The company is headquartered in Mumbai, Maharashtra. The company went IPO on 2005-01-07. The firm is an integrated, research-oriented pharma company engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs). The firm's geographical segments include India and Outside India. The firm has nine domestic marketing divisions with a brand portfolio in various therapeutic segments, including Gastrointestinal, Respiratory, Anti-Infective, Stomatologicals, Ophthalmic, Nutritionals, Cardiovascular, Anti-Diabetics, Pain Management and Gyneacology. The Company’s brands include Cyclopam, Febrex Plus, Sensodent-K, Karvol Plus, ATM, Oxipod, Cital, Sensoform, Sensodent-KF, Cal-Aid, Cloben-G, Glychek, Kidodent, Carmicide, Rexidin, MCBM and Methycal.

INDOCO Intrinsic Value
241.98 INR
Undervaluation 13%
Intrinsic Value
Price ₹211.6
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