MEDICO REMEDIES Share price

The Company was incorporated as Medico Remedies Private Limited on March 18 1994 under the Companies Act 1956 with the Registrar of Companies Mumbai bearing  Registration No. 077187. The status of the Company was changed to a public limited company and the name of the Company was changed to Medico Remedies Limited by a  special resolution passed on January 12 2017. A fresh Certificate of Incorporation consequent upon conversion was issued on March 06 2017 by the Registrar of  Companies Mumbai. The Company’s Corporate Identity Number is U24230MH1994PLC077187.The Company Medico Remedies Limited is a pharmaceutical formulation manufacturing company with manufacturing and marketing capabilities in formulation with focus on  anti-infective Beta-Lactums cephalosporins antimalarial antiretroviral anti-ulcer drugs and antacids vitamins haematinics and other supplements. Further in  addition to the above the Company also has manufacturing and marketing capabilities in other drugs such as NSAIDS antihistaminic antidiabetics cardio vascular  drugs diuretics anti-epileptics combination drug kits syrups and cream & gel for various therapeutic segments.The Company began its operations in the year 1994 with manufacturing and servicing of diuretics anti-malarials NSAIDS tablets anti-reterovirals anti-ulcer drugs  and anti-acids tablets. Over the years we have expanded the scale and scope of operations and currently the Company is engaged in manufacture of formulations for  various medicines. As part of this expansion in the year 1999 & 2002 we have acquired two adjacent plots of 1023.50 sq. metres each respectively for setting up the  plant at Palghar Maharashtra. The plant is divided into two units i.e. general formulations unit and betalactam unit; the beta lactam unit is further divided into  two segments –penicillin and cephalosporins.With the long standing operations and quality products we have built a strong relationship with the customers for drug formulations. the clients include Indian as  well as foreign pharmaceutical companies like Anphar Limited Saad Medical Manfes Pharmaceuticals & Chemical Industries Award Global Company Limited Directorate of  Health Services (DHS Maharashtra) to name a few. the Company also earns revenue from the sale of licenses such as FMS license FPS license and MESI license. The  income from sale of such licenses amounts to Rs. 72.47lakhs which is 2.46% of the operational revenue during the period ending September 30 2017.We have an in-house R&D facility and a dedicated QC / QA & microbiology laboratory at the Palghar units to support technology transfer for new products and on-site  process improvement. We have dedicated teams actively involved in R&D and QC / QA Lab activities. the R&D capabilities enable us to support the growth strategy by  developing new products and processes which enhance the product range. The focus of the R&D has been to strive for continuous process improvements and achieving  manufacturing cost efficiencies for existing as well as new formulations. The QC/ QA and microbiology laboratories ensure the quality of raw material dispensed in the  production process and also the finished goods delivered to the customers. This helps in improving the procurement process thus reducing wastages returns and other  related costs.The operational revenue as restated was Rs. 2927.42 lakhs for the period ended September 30 2017 and were Rs. 5441.80 lakhs Rs. 6668.36 lakhs and Rs. 5098.99 lakhs for the Fiscal 2017 2016 and 2015 respectively. the operational revenues increased/ (decreased) by (18.39)% in the fiscal 2017 and 30.78%in the fiscal 2016. the net profit as restated was Rs. 40.02 lakhs for the period ended September 30 2017 and were Rs. 162.81 lakhs Rs. 112.99 lakhs and Rs. 79.20 lakhs in each of the Fiscals 2017 2016 and 2015 respectively. the net profit as restated increased by 40.10% in fiscal 2017 and 42.65 % in the fiscal 2016.MAJOR EVENTS:1994-Incorporated under Companies Act 1956 as Medico Remedies Private Limited1999-Acquired plot at Palghar for setting up manufacturing set-up for general formulations2002-Acquired plot at Palghar for setting up manufacturing set-up for beta lactam2016-Renwed WHO-GMP Certification for the manufacturing facility-Purchased corporate premises at “Hubtown Solaris”2017-Renewed ISO-9001:2015 Certification for the manufacturing facility-Converted into a public limited company and the name of the company was changed to Medico Remedies Ltd