Medico Remedies Receives $1.9 Million Order from Dominican Republic

Medico Remedies Ltd has secured a government supply order worth USD 1.9 million (approximately ₹16.32 crore) from PROMESE/CAL, a public healthcare procurement body in the Dominican Republic. The order involves the supply of pharmaceutical products, including tablets, capsules, and dry syrups. The company is to complete the delivery within three months.

As of 9:49 am on 9 April, 2025, Medico Remedies share price is trading at ₹57.16, 0.80% down, with a 17.37% rise over the past six months and 19.90% over the past year.

Contract Conditions

According to disclosures made under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements, the order is from an international entity and is not classified as a related-party transaction. The supply terms are as per the contract agreed upon with PROMESE/CAL.

About PROMESE/CAL

PROMESE/CAL stands for Programa de Medicamentos Esenciales y Central de Logística. It is responsible for the centralised purchase and distribution of essential medicines and pharmaceutical products for the Dominican Republic’s public health sector.

Company Background

Medico Remedies Ltd manufactures and supplies generic pharmaceutical products including tablets, capsules, dry syrups, and injectables. The company operates in both domestic and international markets and regularly participates in government contracts. It focuses on supplying medicines that are part of essential healthcare services.

In Q3 FY 24-25, the company reported a revenue increase of 36.2%, rising from ₹30.04 crore to ₹40.92 crore. Net profit during the same period grew from ₹1.45 crore to ₹2.62 crore. The company has maintained an average three-year net profit growth rate of 19.88%. Its debt-to-equity ratio stands at 0.21, and promoter shareholding is above 65%.

Conclusion

Medico Remedies will supply a set of pharmaceutical products to the Dominican Republic under a USD 1.9 million order, with delivery to be completed within a three-month window. This order falls under the company’s ongoing participation in international public healthcare contracts.

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