Business description – Medico Remedies 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, anti-diabetics, 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. As part of expansion, in the year 1999 & 2002, it acquired two adjacent plots of 1,023.50 sq. metres each respectively, for setting up plant at Palghar, Maharashtra. The plant is divided into two units, i.e. general formulations unit and beta- lactam unit; the beta lactam unit is further divided into two segments –penicillin and cephalosporins.
With its long standing operations and quality products, the company has built a strong relationship with its customers for drug formulations. Its 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.
Promoters of Medico Remedies – Mr Haresh Mehta, Mr Harshit Mehta and Mrs Rita Mehta
| Medico Remedies IPO details | |
| Subscription Dates | 29 – 31 January 2018 |
| IPO Price band | INR100 per share |
| Fresh issue | 949,200 shares (INR9.49 crore) |
| Offer for sale | 150,000 shares (INR1.5 crore) |
| Total IPO size | 1,099,200 shares (INR10.99 crore) |
| Minimum bid (lot size) | 1,200 shares |
| Face Value | INR10 per share |
| Retail Allocation | 50% |
| Listing On | BSE SME platform |
Use of funds
- Repayment of loans – INR7.72 crore
- General Corporate Expenses – INR1.28 crore
| Medico Remedies’ financial performance (in INR lakh) | ||||||
| Â | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | H1 FY2018 |
| Total revenue | 3,380.3 | 4,497.7 | 5,110.5 | 6,692.4 | 5,477.9 | 2,976.0 |
| Total expenses | 3,309.7 | 4,401.9 | 5,016.3 | 6,505.4 | 5,279.2 | 2,913.9 |
| Profit after tax | 42.8 | 62.9 | 79.2 | 112.9 | 162.8 | 40.0 |
Medico Remedies Contact Details
Medico Remedies Limited
50, Juhu Supreme Shopping Center
Gulmahor Cross Road No. 9
Juhu, Mumbai-400049
Phone: +91 22 2670 1055/66
Email: [email protected]
Website: www.medicoremedies.com
Medico Remedies IPO Subscription Details
| Day | Subscription (no. of times) |
| Day 1 | 0.47 |
| Day 2 | 0.96 |
| Day 3 | 1.74 |
| Â | Â |
| Â | Â |
Medico Remedies Valuation (Latest FY)
Earnings Per Share (EPS): INR5.09
Price/Earnings (P/E) ratio: 19.65
Return on Net Worth (RONW): 9.94%
Net Asset Value (NAV): INR51.16 per share
Registrar of Medico Remedies IPO
Cameo Corporate Services Limited
Subramanian Building, 1 Club House Road,
Chennai-600 002
Tamil Nadu, India
Phone: +91 44 2846 0390
Fax: +91 44 2846 0129
Email:Â [email protected]
Website:Â http://www.cameoindia.com
Medico Remedies IPO Allotment Status
Medico Remedies IPO allotment status is now available on Cameo Corporate Services’ website. Click on this link to get allotment status.
Listing performance of Medico Remedies
IPO Opening Date: 29 January 2018
IPO Closing Date: 31 January 2018
Finalisation of Basis of Allotment: 5 February 2018
Initiation of refunds: 6 February 2018
Transfer of shares to demat accounts: 7 February 2018
Listing Date: 8 February 2018
Listing Price on BSE SME: INR100 per share (no change from IPO price)
Closing Price on BSE SME: INR97.15 per share (down 2.85% from IPO price)
This one is good. Continue growth business.
Pill is never sweet; valuation on higher side.
My two cents on this
Medico looks good on paper. At least they are not making up numbers as other SMEs. They have good base of past years and not selling shares too costly. Pharma is currently down but it is one of the best industries to make long term money!
GOOD MANAGEMENT TEAM