Medico Remedies Ltd. – Company Report
1. Company Overview
Medico Remedies Ltd., incorporated in 1994 and headquartered in Mumbai, Maharashtra, is a pharmaceutical formulation manufacturing company with strong export and domestic capabilities. Originally established as a private limited company, it converted to a public limited firm in 2017. Medico Remedies is WHO-GMP and ISO 9001 certified and operates as a publicly listed entity on the BSE SME platform. The company focuses on formulation manufacturing, supported by its own R&D and compliance infrastructure.
Key Highlights:
- Incorporated: 1994
- Headquarters: Mumbai, Maharashtra, India
- Certifications: WHO-GMP, ISO 9001
- Listed: BSE SME
- Market Cap (July 2025): ~₹331 crore
- Employees: Not publicly disclosed (mid-sized pharma workforce)
- Promoters: Haresh Mehta, Harshit Mehta, Rita Mehta
- Export Markets: 25+ countries across Africa, Asia, and Latin America
- Status: Profitable and rapidly growing, but typically does not pay dividends
2. Products and Services
Medico Remedies offers a comprehensive suite of pharmaceutical and nutraceutical products with more than 150 formulations. Its product portfolio encompasses:
- Antibiotics and Anti-Infectives: Penicillins, cephalosporins, anti-fungals
- Beta-Lactams: Tablets and capsules for major infections
- Antimalarial & Antiretroviral Drugs: For global public health programs
- Anti-Ulcer Drugs & Antacids
- Vitamins, Haematinics, and Supplements
- Cardiovascular & Diabetics: Medicines catering to chronic therapeutic areas
- NSAIDs & Antipyretics: Pain relief and fever management drugs
- Antihistamines, Antiepileptics, Antidepressants, Antipsychotics
- Syrups/Ointments/Creams & Gels: Both for topical and oral delivery
- Combination Drug Kits & Pre-packaged Solutions: For specific infection and nutritional indications
Product Forms: Tablets, capsules, dry powder suspensions, ointments, gels, creams, and syrups.
Export Reach: Regular exports to Uganda, Myanmar, Vietnam, Cambodia, Dominican Republic, Sri Lanka, Philippines, Turkmenistan, Ghana, Mauritius, Madagascar, Congo, Iraq, Honduras, Cuba, Jamaica, Hong Kong, Nigeria, Senegal, Panama, and Mozambique, among others.
Distribution Channels: Wholesalers, traders, and government/institutional tenders across 25+ countries and major Indian states.
Expansion Plans: A new factory focused on antibiotic formulations has been announced, targeting an additional ₹25 crore in revenue over the next two years.
3. Recent News and Financial Performance
Recent Developments:
Expansion into Ointments: Strategic initiative launched to manufacture and market ointment formulations, enhancing product mix and growth potential.
Supply order from Dominican Republic (July 2025):
- Secured a government supply contract worth USD 1.9 million (~₹16.32 crore) from PROMESE/CAL, Dominican Republic’s central procurement agency.
- Products: Tablets, capsules, and dry syrups
- Delivery Timeline: Within three months
Supply order from Turkmenistan’s Ministry of Health (October 2025):
- Medico Remedies Limited received a $1.78 million order from Turkmenistan’s Ministry of Health to supply tablets, capsules, and dry syrups, boosting its international export prospects significantly.
Operational Highlights:
- Growing footprint in Latin America, Africa, South-East Asia, and Middle East
- Continued investments in R&D, regulatory approvals, and capacity expansion
- Strong track record in timely supply, compliance, and institutional partnerships
4. Financial Performance (FY2025)
| Metric | FY2025 Value |
|---|---|
| Total Revenue | ₹151 crore (↑ from ₹145 crore in FY2024) |
| Net Profit | ₹10 crore (↑ from ₹8.3 crore in FY2024) |
| Operating Profit | ₹15 crore |
| Operating Margin | 10% |
| Net Profit Margin | 7% |
| EPS (Earnings Per Share) | ₹1.22 |
| Return on Equity (ROE) | 18% |
| Debt Position | Modest, with controlled gearing and positive cash flow |