Ipca Labs' outlook remains intact with India business on strong footing

Outlook remains intact with India business on strong footing, exports supported by ingredient capabilities

Ipca Laboratories’ strong performance for the December quarter (third quarter, or Q3) pushed its stock to a fresh all-time high, before it closed 7 per cent higher on Thursday. Given its Q3 performance and outlook, the stock, which has nearly doubled in one year, could see more upside.

Continued focus on brands is driving domestic formulations, while exports (branded, generics, and institutional business) continue to complement, even as US supplies remain constrained due to unresolved Food and Drug Administration (FDA) issues.

The company’s strength lies in its domestic formulations, which contributed 43 per cent to revenue and grew 15 per