Medico Remedies Limited is a **WHO-GMP** and **ISO 9001-2015** certified pharmaceutical formulation manufacturer. Recognized as a **Government Recognized Star Export House**, the company specializes in the development, manufacture, and global distribution of a diverse range of pharmaceutical and nutraceutical products. --- ### **Core Manufacturing Capabilities & Therapeutic Portfolio** The company operates **three (3) manufacturing units** in **Palghar, Maharashtra**. These facilities are strategically located to leverage domestic raw material sourcing, skilled labor, and robust government infrastructure. The company operates as a **single operating segment** focused on **Pharmaceuticals**, producing medicines for both oral consumption and external application. #### **Product Segmentation by Delivery Method** | Category | Therapeutic Areas & Product Types | | :--- | :--- | | **Oral Preparations** | Antihypertensives, Antidiabetics, Antibiotics, Diuretics, Antimalarials, NSAIDS, Antiretrovirals, Anti-Ulcer Drugs, and Antacids. | | **External Preparations** | Creams and Ointments including Anti-infectives, Antifungals, Antibiotics, and Steroidal preparations. | | **Specialized Facilities** | Dedicated independent manufacturing facility for all **Beta-Lactam (B-Lactam)** products. | #### **Current Production Capacities** * **Tablets:** **30 Crore** units * **Capsules:** **15 Crore** units * **Dry Syrup:** **2 Crore** units * **Ointments & Creams:** **0.3 Crore** tubes per month (New facility) --- ### **Strategic Expansion & Infrastructure Roadmap** Medico Remedies is transitioning from a generic manufacturer to a provider of specialized formulations. The company is aggressively expanding its footprint to meet growing order volumes and enter high-margin regulated markets. * **Ointment Division:** Recently operationalized a **15,000 sq. ft. state-of-the-art** ointment plant. This segment is currently growing at **17% YoY** and is expected to be a significant revenue driver. * **Beta-Lactam Project (Plots 15 & 16):** A new **3-storey facility** is under construction for the manufacture of **Amoxicillin and Potassium Clavulanate** formulations. Expected completion is **late 2026**, with a projected annual revenue contribution of **₹25 Crores**. * **Capacity Targets for New Plant:** * **2.5 Crore** Tablets * **4.5 Crore** Capsules * **1 Crore** Dry Syrups * **1 Crore** Injectables * **Global Compliance Standards:** New facilities are being developed according to **PIC/S guidelines**. The company is actively pursuing **UK MHRA** and **US FDA** certifications to facilitate entry into European and North American markets. --- ### **Global Market Dominance & Export Dynamics** The business model is heavily export-oriented, with international sales accounting for the vast majority of total revenue. The company’s manufacturing units hold approvals from National Drug Authorities in **Uganda, Kenya, Ghana, Nigeria, and Malawi**. #### **Geographical Revenue Distribution (QE Sept 30, 2024)** | Segment | Revenue (₹ in Lakhs) | % of Total | | :--- | :--- | :--- | | **Sales Outside India** | **3,655.85** | **93.7%** | | **Sales Within India** | **244.40** | **6.3%** | | **Total Sales** | **3,900.25** | **100%** | #### **Major Government Supply Contracts (2025-2026)** The company has secured a substantial order pipeline, diversifying its revenue across international public health systems: * **Uttar Pradesh Medical Supplies Corp. (India):** Two orders totaling **₹110.41 Crores**. * **PROMESE/CAL (Dominican Republic):** Multiple orders exceeding **USD 3 Million** for tablets and syrups. * **Ministry of Health (Turkmenistan):** Supply order valued at **USD 1.78 Million**. --- ### **Financial Performance & Capital Structure** The company has demonstrated consistent growth in profitability while maintaining a conservative, debt-free balance sheet. #### **Three-Year Financial Summary** | Metric (₹ in Lakhs) | FY 2024-25 | FY 2023-24 | FY 2022-23 | | :--- | :--- | :--- | :--- | | **Total Income** | **15,363** | **14,704** | **14,438** | | **Profit After Tax (PAT)** | **1,009** | **829** | **724** | | **Total Turnover (Cr)** | **150.94** | **144.92** | **140.44** | #### **Key Financial Ratios & Efficiency** * **Debt Management:** The company achieved a **Debt Equity Ratio of 0.00** in FY 2023-24 after fully repaying term loans. * **Interest Coverage:** Maintained a robust ratio of **34.05**. * **Profitability:** Net Profit Margin improved to **6%** in FY 2024-25, up from **5%** in FY 2022-23. * **Stock Split:** In March 2023, the company subdivided equity shares from a face value of **₹10 to ₹2** to enhance liquidity. --- ### **Operational Sustainability & Risk Mitigation** * **Energy & Environment:** Installed a **300KW solar system** and an **Automatic Power Factor Control (APFC)** panel (maintaining **>99.5% efficiency**). It operates a **zero-discharge Effluent Treatment Plant (ETP)** for environmental compliance. * **Currency Hedging:** Uses **derivative financial instruments** to manage foreign exchange risks. As of March 31, 2024, the company had a **Total Net Exposure** of **₹4,644 Lakhs**, largely protected by a natural hedge of USD-denominated receivables. * **Supply Chain:** Prioritizing local sourcing of **APIs** to reduce reliance on Chinese imports and mitigate raw material price volatility. * **Legal Resilience:** Successfully contested a **GST Demand of ₹2.94 Crores**, with the **Hon'ble High Court of Bombay** quashing the notices in September 2025. --- ### **Industry Outlook & Strategic Drivers** The Indian pharmaceutical market is projected to reach **$60 billion** by 2026, growing at **11%**. Medico Remedies is positioned to capture this growth through: 1. **Patent Expiries:** Capitalizing on the global wave of drugs going off-patent. 2. **Export Incentives:** Benefiting from the **RODTEP** (Remission of Duties and Taxes on Exported Products) scheme. 3. **Therapeutic Expansion:** Foraying into high-growth segments like external preparations and specialized **Beta-Lactams**. 4. **Leadership Continuity:** Re-appointment of **Mr. Harshit Mehta** (MD) and **Mr. Haresh Mehta** (Chairman) ensures long-term strategic stability through **2028**.