Pharma Penny Stock Under Rs 60 In Focus As Company Bags Rs 16,31,72,000 Order From Programa de Medicamentos Esenciales y Central de Logística
The stock is up over 60 per cent from its 52-week low of Rs 35 per share.
Medico Remedies Ltd has announced the receipt of a significant international government supply order valued at USD 1.9 million (approximately Rs 16,31,72,000) from the Dominican Republic's Programa de Medicamentos Esenciales y Central de Logística (PROMESE/CAL). This order, secured under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, entails the supply of tablets, capsules, and dry syrups to PROMESE/CAL, the central entity responsible for the procurement and distribution of essential medicines within the Dominican Republic's public health sector. Medico Remedies is expected to fulfill the entire order within the next three months, marking a notable achievement in their international operations.
Medico Remedies Ltd, established in 1994, is an Indian pharmaceutical company engaged in the manufacturing and marketing of a diverse range of pharmaceutical formulations. Their product portfolio includes various therapeutic segments such as antibiotics, anti-infectives, beta-lactam penicillin, cephalosporin, antifungals, antimalarials, antiretrovirals, anti-ulcer drugs and antacids, vitamins & supplements, hematinics, and other drugs like NSAIDs, antihistaminics, anti-diabetics, and cardiovascular drugs. The company operates a manufacturing facility in Palghar with a significant installed capacity for producing tablets (approximately 122.6 million units per month), capsules (around 36 million units per month), and dry syrup (about 0.12 metric tons per month).
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The company has a market cap of Rs 475 crore. The stock is up over 60 per cent from its 52-week low of Rs 35 per share. The shares of the company have a PE of 54x, an ROE of 17 per cent and an ROCE of 21 per cent. Investors should keep an eye on this pharma penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.