Chairman's Message
Dear Shareholders,
On behalf of the Board of Medico Remedies Limited (Medico) (Formerly known as
"Medico Remedies Private Limited"), it gives me great pleasure to present the
24th Annual Report and share with you an update on the overall performance ofyour Company
in FY 2017-18.
Your Company, Medico 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, your
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.
We are happy to announce that the financial and operational performance in FY 2017-18
was outstanding, reflecting in net profit. Your Company has moved forward strongly,
sustained the performance and achieved a net revenue from operations of Rs.6,102.45 Lakhs.
The increase in revenue is contributed by growth in sales of various Products for
Pharmaceuticals.
In FY 2017-18, Medico continued to focus on its strategic pillars of Engaging to
customer relationship building, Value addition to customer's business with our quality
products and Highly engaged and dedicated work-force in order to achieve our goals and
sustain our strong position across our markets. At Medico, it is not only delivering the
numbers that matters, but also conducting business with integrity and respect.
The progress we made in streamlining our production infrastructure and extending our
reach and customer service while reducing cost with our cost leadership initiatives has
helped Company to maintain its growth trajectory. Our focused approach, customer
relationship building, value add to customer's business with our quality products, highly
engaged and dedicated work-force allowed us to maintain and reinforce our strong position
across our markets.
On behalf of my colleagues on the Board of Directors, I take this opportunity to thank
all our employees for their tremendous efforts and passion that enables continuous
improvement and growth. I also would like to place on record the various hands-on work
undertaken by members of the Board and senior leadership team in making far-reaching
changes which strengthen the foundational roots of our business. I would also thank all
our customers, business partners, bankers, financial institutions, vendors and all
stakeholders for their continued faith and trust. Finally, a big thank you to all our
shareholders for your continued beliefin Medico.
We look forward to the forthcoming years with enthusiasm and optimism as we remained
focused on delivering value to all our stakeholders.
With best wishes,
Sincerely,
Sd/-
Haresh Mehta
Chairman and Whole Time Director