On behalf of the Board of Medico Remedies Limited (Medico) (Formerly known as"Medico Remedies Private Limited") it gives me great pleasure to present the24th Annual Report and share with you an update on the overall performance ofyour Companyin FY 2017-18.
Your Company Medico is a pharmaceutical formulation manufacturing company withmanufacturing and marketing capabilities in formulation with focus on anti-infectiveBeta-Lactums cephalosporins antimalarial antiretroviral anti-ulcer drugs and antacidsvitamins haematinics and other supplements. Further in addition to the above yourCompany also has manufacturing and marketing capabilities in other drugs such as NSAIDSantihistaminic anti-diabetics cardio vascular drugs diuretics anti-epilepticscombination drug kits syrups and cream & gel for various therapeutic segments.
We are happy to announce that the financial and operational performance in FY 2017-18was outstanding reflecting in net profit. Your Company has moved forward stronglysustained the performance and achieved a net revenue from operations of Rs.6102.45 Lakhs.The increase in revenue is contributed by growth in sales of various Products forPharmaceuticals.
In FY 2017-18 Medico continued to focus on its strategic pillars of Engaging tocustomer relationship building Value addition to customer's business with our qualityproducts and Highly engaged and dedicated work-force in order to achieve our goals andsustain our strong position across our markets. At Medico it is not only delivering thenumbers that matters but also conducting business with integrity and respect.
The progress we made in streamlining our production infrastructure and extending ourreach and customer service while reducing cost with our cost leadership initiatives hashelped Company to maintain its growth trajectory. Our focused approach customerrelationship building value add to customer's business with our quality products highlyengaged and dedicated work-force allowed us to maintain and reinforce our strong positionacross our markets.
On behalf of my colleagues on the Board of Directors I take this opportunity to thankall our employees for their tremendous efforts and passion that enables continuousimprovement and growth. I also would like to place on record the various hands-on workundertaken by members of the Board and senior leadership team in making far-reachingchanges which strengthen the foundational roots of our business. I would also thank allour customers business partners bankers financial institutions vendors and allstakeholders for their continued faith and trust. Finally a big thank you to all ourshareholders for your continued beliefin Medico.
We look forward to the forthcoming years with enthusiasm and optimism as we remainedfocused on delivering value to all our stakeholders.
With best wishes
Chairman and Whole Time Director