Synopsis:
Medico Remedies Limited received a $1.78 million order from Turkmenistan’s Ministry of Health to supply tablets, capsules, and dry syrups, boosting its international export prospects significantly.
Known for manufacturing pharmaceutical tablets and dry syrups, the company has secured order from Turkmenistan’s Ministry of Health and Medical Inquiry. This development, which triggered a sharp market reaction, is expected to significantly boost its export business and revenue prospects.
Medico Remedies Limited’s stock, with a market capitalisation of Rs. 423 crores, rose to Rs. 51.54, hitting the intraday upper circuit, up 5 percent from its previous closing price of Rs. 49.09. Furthermore, the stock over the past year has given a return of 4.04 percent.
Order Details
Medico Remedies Limited announced that it has received a government order worth USD 1,781,000 from Turkmenistan’s Ministry of Health and Medical Industry.
This order is to supply tablets, capsules, and dry syrups to the Ministry, which oversees the purchase and distribution of important medicines for public health in Turkmenistan. The company will complete the delivery as quickly as possible, according to the contract details.
The order was given by the Main Pharmacy Association of the Ministry, which is responsible for managing essential medicines in the country. This contract is considered a major international deal for Medico Remedies Limited, showing the company’s ability to win large supply orders from outside India.
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Indian Pharmaceutical Market
India’s pharmaceutical industry is set for major growth in the coming years. The total market size is expected to reach about US $130 billion by 2030 and could rise further to US $450 billion by 2047. In FY25, Indian pharma companies are likely to record 9–11% revenue growth, driven by strong demand from key global markets such as the US, Europe, and several emerging regions.
India also holds a leading position in global drug manufacturing, with the highest number of USFDA-approved plants outside the United States and over 2,000 WHO-GMP certified facilities.
The country exports medicines to more than 150 nations and operates over 10,500 manufacturing units. Additionally, India’s CRDMO industry is projected to double to Rs. 1,21,282 crore (around US $14 billion) by 2028, while the medical technology sector is expected to reach export levels of US $20 billion by FY30.
Q1 Financial Highlight
In Q1FY26, revenue stood at Rs. 38.25 crore, up 24.2% YoY from Rs. 30.80 crore, but down 7.4% QoQ from Rs. 41.30 crore. The company has delivered a 3-year sales CAGR of 8%, reflecting steady top-line growth, supported by consistent operational performance.
Net profit in Q1FY26 was Rs. 1.82 crore, rising 15.2% YoY from Rs. 1.58 crore, but declining 58.1% QoQ from Rs. 4.34 crore. Over the past three years, profit CAGR has been 28% with ROE growing at 18%, highlighting improved profitability despite the sequential dip.
Written By Fazal Ul Vahab C H
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