Fredun Pharmaceuticals Ltd

NSE trading permission

• Equity shares permitted to trade on NSE from 17 August 2026 (ISIN INE194R01017, symbol FREDUN).
• Face value Rs 10; equity securities.
• Company already listed on BSE; NSE trading approved per NSE circular 1355/2026 dated 14 Aug 2026.

Financial Performance

• Q1 FY27 stand-alone total income: INR 228.25 crores, up 90.44% YoY.
• EBITDA: INR 32.78 crores, up 92.90% YoY; EBITDA margin 14.36% (+18 bps).
• Net profit: INR 13.17 crores, up 94.63% YoY; net margin 5.77% (+12 bps).

Growth and Strategy

• Growth mix: new-age brands 35–45% YoY; vintage 15–20% YoY; blended ~35–30% next 3 years.
• GX expansion: present in ~19 states; base GX revenue ~INR 100–110 crores this year.
• GX growth target: 30–35% in GX; long-term 30–35% over ~4 years.

Capex and Projects

• CapEx plan: INR 30–40 crores in FY27; similar plan for next year.
• Maintenance CapEx: ~2% of revenue (based on ~INR 1,000 crores revenue).
• Next 2 years: INR 35–45 crores per year; goal to be one of the largest single-location plants by Dec 2028 / early 2029.

Domestic Market and Portfolio

• Cat food to be launched by Q3 FY27; pet care target around INR 100 crores in 3 years from launch.
• Functional foods: Jain variant performing well; cat biscuits planned; 42 variants planned.
• Pet care growth momentum: 40–50% CAGR projected for 3–4 years; current base ~INR 40–45 crores.

Working Capital and Financing

• Working capital run-rate ~INR 850 crores; current WC ~INR 170–175 crores; ~50% of WC in cash.
• Absolute WC will rise with revenue; aim for positive cash flows to reduce external financing.

Q&A Highlights

• FY27 revenue target around INR 800 crores; INR 1,000 crores not committed.
• EBIT margins currently ~9–10%; no commitment to 12–13% in 15–18 months; potential within ~12 quarters.
• Wagr portal: beta live; onboarding brands; ~1,500–2,000 SKUs; beta in 60–65 days; campaigns in ~90 days.
• Inventory days: ~120 targeted; current ~140–135; aim 110–125 days.

Meeting Details

• Date and time: Thursday, 13 August 2026 at 11:30 AM.
• Type and mode: Earnings conference call, group session, virtual dial-in.
• Event organizer: Kirin Advisors for Fredun Pharmaceuticals.
• Key company participant: Managing Director.
• Purpose: Discuss Q1 FY27 earnings and results.

Financial highlights

• Total income rose 90.44% YoY to ₹228.25 Cr in Q1 FY27.
• EBITDA ₹32.78 Cr; up 92.90% YoY; margin 14.36%.
• Net profit ₹13.17 Cr; up 94.63% YoY; net margin 5.77%.
• EPS Basic ₹23.89; up 66.71% YoY.

Capital actions

• On 17 July 2026, allotted 1.10 crore Bonus Equity Shares in a 2:1 ratio.
• Share capital increased from 55.13 lakh shares to 1.65 crore shares.

Management commentary & outlook

• MD notes Q1 FY27 sets strong tone; investments translating into tangible outcomes.
• Management remains optimistic about future and sustainable growth with diversified engines of growth.
• Diversified portfolio expansion and manufacturing capability strengthening cited as growth drivers.

Historical performance / context

• FY26 revenue ₹639.12 Cr; EBITDA ₹94.79 Cr; PAT ₹33.21 Cr.
• Portfolio includes generics, cosmeceuticals, nutraceuticals, mobility solutions, and animal healthcare.

Meeting Details

• Date: 05 August 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited standalone and consolidated financial results for Q1 ended 30 June 2026.

Other Notes

• Trading window will remain closed until 48 hours after the declaration of the financial results.

Record date for 2:1 bonus issue

• Record date fixed at 16 July 2026 for 2:1 bonus equity issue.
• Bonus shares are fully paid-up equity shares of ₹10 each.
• Deemed allotment date is the next working day after the record date.
• Shares will rank pari passu with existing equity shares.
• Warrants adjustment preserves economic benefit as if warrants were converted prior to record date.
• AGM approval obtained at the 30 June 2026 meeting.

Dematerialisation processing and listing

• Security received from depository participants for dematerialisation in June 2026 was processed (accepted/rejected) and confirmed to depositories.
• Securities dematerialised have been listed on the stock exchanges where the earlier issues are listed.
• Physical certificates for dematerialisation were mutilated and cancelled; depository named as owner substituted within timelines.

AGM details

• AGM held on 30 June 2026 at 09:00 IST via VC/OAVM; no physical attendance.
• AGM conducted through Video Conferencing/OAVM as per MCA/SEBI directives.

Resolutions and outcomes

• All resolutions were approved with majority voting in favour; one vote against noted; no invalid votes.
• Scrutinizer Kala Agarwal issued the report on remote e-voting and AGM results.