Medico Remedies Secures USD 1.78 Million Government Supply Order from Turkmenistan; Stock Rises Over 3%

Mumbai, 7 October 2025: Medico Remedies Limited (BSE: 540937, NSE: MEDICO) announced today that it has secured a central government supply order worth approximately USD 1.78 million (around ₹14.8 crore) from the Ministry of Health and Medical Industry of Turkmenistan.

As of 10:45 am, Medico Remedies shares were trading 3.38% higher at ₹50.75, up from the previous close of ₹49.09. The stock opened at ₹51.54, with an intraday high of ₹51.54 and a low of ₹50.07. The total trading volume stood at 90,000 shares, generating a turnover of ₹0.46 crore. Based on the average of standalone past financial results, the stock’s intrinsic value as of 30 September 2017 is estimated at ₹34.53 per share. The stock has a 52-week range of ₹37.18 to ₹79.83 and a P/E ratio of 39.43.

Established in 1994 and listed on the stock exchange since May 26, 2022, Medico Remedies Limited is a pharmaceutical manufacturer specialising in the formulation of products such as tablets, capsules, syrups, and ointments. It caters to both domestic and international clients across the public and private sectors, encompassing multiple therapeutic segments.

Key Order Details

Medico Remedies Limited has secured a central government supply order worth approximately USD 1.78 million (around ₹14.8 crore) from the Ministry of Health and Medical Industry of Turkmenistan. The contract has been issued through the Main Pharmacy Association, the ministry’s central procurer and distributor of pharmacy products across both public and private sectors. Under the agreement, Medico Remedies will supply tablets, capsules, and dry syrups, and will make its “best efforts” to deliver the order as soon as reasonably practicable. The company confirmed that none of the promoters or related parties are involved in the order, which is expected to be fulfilled shortly.

Management Comment

Haresh Mehta, Chairman and Whole-Time Director of Medico Remedies, stated that the order reinforces the company’s growing global footprint and reflects the trust placed in its quality and supply capabilities.

REF: https://nsearchives.nseindia.com/corporate/MEDICO_06102025181536_Intimation_under_Reg_30.pdf

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