Medico Remedies Limited has informed the Exchange regarding Cessation of VJ Shah & Co as Other of the company w.e.f. September 30, 2025.
MEDICO · price
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On the reaction day the stock moved 3.6 pts less than Nifty Microcap 250 and 3.5 pts less than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Medico Remedies Limited announced the outcome of its Board Meeting held on May 8, 2025. The Board approved audited standalone financial results for FY25, with total income of Rs. 15,363 lakhs (up 4.5% YoY) and profit after tax of Rs. 1,009 lakhs (up 21.7% YoY), translating to an EPS of Rs. 1.22. VJ Shah & Co ceased as Statutory Auditors on completion of their term at the conclusion of the 31st AGM, and Shah Shroff & Associates was appointed as the new Statutory Auditor for a 5-year term. Mr. Haresh Sanghvi was also appointed as Secretarial Auditor for FY 2025-26 to FY 2029-30. The outgoing auditor issued an unmodified opinion on the FY25 financials.
Routine statutory auditor rotation after term completion with a clean audit report, alongside healthy double-digit profit growth, is a positive sign for shareholders. No immediate negative impact on the stock is expected from the auditor change since it is a planned transition rather than a mid-term resignation.