Medico Remedies Limited has informed the Exchange regarding Board meeting held on May 08, 2025.
MEDICO · price
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Medico Remedies Limited's board approved audited standalone financial results for Q4 FY25 and full year ended March 31, 2025, with the statutory auditor issuing an unmodified opinion. Full-year revenue from operations grew to Rs. 15,094.06 lakhs from Rs. 14,492.07 lakhs (up ~4.2%), while profit after tax rose to Rs. 1,009.32 lakhs from Rs. 829.09 lakhs (up ~21.7%). Basic EPS improved to Rs. 1.22 from Rs. 1.00. Total assets expanded to Rs. 11,979.93 lakhs, supported by higher inventories and trade receivables, though short-term borrowings nearly doubled to Rs. 1,383.24 lakhs. The board also approved the cessation of VJ Shah & Co as statutory auditors upon completion of their term and appointed Shah Shroff & Associates as the new statutory auditor for five years, along with Haresh Sanghvi as secretarial auditor for FY25-26 through FY29-30.
Shareholders should note healthy double-digit profit growth and a clean audit report, which are positive signals. However, the sharp increase in short-term borrowings and inventories warrants attention. The auditor change is a routine rotation following term completion, pending shareholder approval at the upcoming AGM.