Sundeep V. Bambolkar, Jt. Managing Director, Indoco Remedies Ltd, is a science graduate and holds a Master’s degree in Business Administration from the Mumbai University. He has also trained in the field of management at the Indian School of Business, Hyderabad and the Kellogg School of Business, Chicago, USA. Sundeep V. Bambolkar has been with the group since 1982. He has over 25 years experience in the industry, across various functions such as Finance, Operations, Purchase, Projects and International Business.

Indoco Remedies is engaged in the manufacturing and marketing of Formulations (Finished Dosage Forms) and Active Pharmaceutical Ingredients (APIs) in India. Indoco has a strong international presence in the Regulated and Emerging markets.The Company is striving to place itself on a strong promising path by expanding its business strategically, strengthening its manufacturing facilities and enhancing capabilities across the organization. The Company is looking at various opportunities in untapped markets and association with business partners in the global markets to boost its revenues. Indoco remains focused on APIs & Formulations business and will be looking to expand the same, both in the domestic as well as international markets. Indoco has a well-built brand portfolio of 135 products in various therapeutic segments, including high growth life style segments such as Anti-Diabetics, Cardiovascular, Central Nervous System, Musculo-Skeletal, Nutrition and Dental care.

Replying to Yash Ved of IIFL, Sundeep V. Bambolkar says, “The company is strategically focusing on key markets by reviewing set up by changing business model to enhance sales and profitability in emerging markets.”

How was the quarter as a whole?

During the quarter, the Indian Pharma Market registered a growth of 9.1% whereas the revenues of the company’s domestic formulations business grew by 11.0%.

Indoco’s domestic business has performed better than industry and our strategies have paved well for growth in the coming quarters as well.

On the International Business front, the growth during the quarter was marginal due to slowdown in emerging market tender business but we envisage to close the year with better numbers.


What is your outlook on the Indian Pharma market?

The Indian Pharma Market witnessed some slow down during the last quarter but is expected to rebound back in the coming quarters.


What were the products launched during the quarter?

The company launched 10 products and thrust increasing share of product.


Brief us about your international business?

The revenue from International Formulations Business for the quarter is Rs. 468mn as against Rs. 455mn during the same quarter last year. Growth in International Business is impacted due to slowdown in Emerging Markets (tender business) and delay in starting execution of orders for new products from AOK tender.

We have started the supply of Allopurinol tablets to AOK Germany during the quarter and have received marketing authorization for two of our dossiers in the customer’s name in Austria.


What is your focus area going forward?

The company has clocked growth rates better than the industry average in the Domestic Formulations space, which is expected to accelerate further.

The company is strategically focusing on key markets by reviewing set up by changing business model to enhance sales and profitability in emerging markets.


What is your revenue mix?

Around 65% of the business comes from Domestic revenues and 35% of the revenues come from International Business. 94% of the business comes from Formulations and 6% of the business comes from API’s.


Comment on your capex plans?

Our maintenance capex will be around Rs.200mn-Rs.250mn in next financial year.