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Fredun Pharmaceuticals Ltd (539730)

📊 BSE: 539730 🏢 Pharmaceuticals 📢 Latest filing: 08 Oct 2026 📝 Analysis written: 13 Nov 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Fredun Pharmaceuticals' revenue was ₹228 Cr (+90.2% year on year, +7.2% on the previous quarter), and net profit ₹13.1 Cr (+87.6% year on year); the operating margin was 14.3%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹228	+90.2%	+7.2%
Operating profit	₹32.7	+92.6%	+12.9%
Net profit	₹13.1	+87.6%	+19.4%
EPS (₹)	adj. 7.94	—	+20.9%
Operating margin	14.3%	—	—

EPS restated for the 2:1 bonus of Jul 2026: Q1 FY27 ₹23.82 to ₹7.94. No EPS growth against Q1 FY26: 2:1 bonus in Jul 2026.

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Fredun Pharma Unveils Pet-Care Acquisitions, Palghar Expansion & Target to Double Revenue

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 08 Oct 2026, 09:33 AM

Fredun Pharmaceuticals issued a comprehensive business update for H1 FY27 outlining its pivot towards a 100% branded portfolio by 2029. The company has acquired a 26% stake in Goodman Vetcare at a ₹300 crore valuation and bought the Furlicks pet-wellness brand from USV/Wellbeing Nutrition. Additionally, a ~40,000 sq. ft. utility block at its Palghar facility is becoming operational in October 2026, alongside plans for another 50,000 sq. ft. expansion. Management has targeted doubling revenue and profitability over the next 3–4 years relative to its current operations (TTM revenue: ₹747 crore).

Acquired 26% stake in Goodman Vetcare at a valuation of ₹300 crore (implied acquisition equity value of ₹78 crore)
Acquired oral-strip brand Furlicks, planning to expand product portfolio from 6 SKUs to 22 SKUs over 6–9 months
Operationalizing ~40,000 sq. ft. utility block at Palghar in October 2026, with an additional 50,000 sq. ft. planned
Targeting a doubling of revenue and profitability over the next 3–4 years, shifting fully to branded business by 2029
Equity base expanded via 1.10 crore bonus shares in July 2026 and 3,61,599 warrant conversion shares in September 2026

💡 Track the operational rollout of the new Palghar utility block and monitor upcoming quarterly filings for revenue contributions from Goodman Vetcare and Furlicks.

Fredun Pharmaceuticals Allots 1,82,400 Shares on Conversion of 60,800 Warrants

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 05 Oct 2026, 08:31 PM

Fredun Pharmaceuticals has allotted 1,82,400 equity shares of face value Rs 10 each following the conversion of 60,800 preferential warrants. The conversion ratio was adjusted to 1 warrant for 3 equity shares pursuant to an earlier 1:2 bonus issue. The original warrants were issued on December 29, 2025 at Rs 1,250 per warrant, with 25% paid upfront and the remaining 75% balance received upon conversion. Total shares allotted represent minor equity dilution against the company's Rs 1,210 crore market cap.

Allotment of 1,82,400 equity shares of Rs 10 face value upon conversion of 60,800 warrants
Conversion ratio adjusted to 3 equity shares per warrant following a 1:2 bonus issue
Warrants initially allotted on December 29, 2025 at an issue price of Rs 1,250 per warrant
Upfront 25% (Rs 312.50 per warrant) received earlier; balance consideration now fully paid
Shares allotted to 10 non-promoter and promoter allottees; 2,667 warrants remain outstanding for conversion

💡 Track the conversion status of the remaining 2,667 warrants and subsequent listing and trading approvals for the newly allotted 1,82,400 shares.

Fredun Pharmaceuticals Allots 1,82,400 Shares on Conversion of 60,800 Warrants

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 05 Oct 2026, 08:20 PM

Allotment of 1,82,400 equity shares of Rs 10 face value upon conversion of 60,800 warrants
Conversion ratio adjusted to 3 equity shares per warrant following a 1:2 bonus issue
Warrants initially allotted on December 29, 2025 at an issue price of Rs 1,250 per warrant
Upfront 25% (Rs 312.50 per warrant) received earlier; balance consideration now fully paid
Shares allotted to 10 non-promoter and promoter allottees; 2,667 warrants remain outstanding for conversion

💡 Track the conversion status of the remaining 2,667 warrants and subsequent listing and trading approvals for the newly allotted 1,82,400 shares.

Fredun Pharma Allots 1.82 Lakh Shares on Conversion of 60,800 Warrants Post-Bonus

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 03 Oct 2026, 05:43 PM

Fredun Pharmaceuticals has approved the allotment of 1,82,400 equity shares of face value Rs 10 each to 10 non-promoter allottees upon the conversion of 60,800 warrants. The warrants were originally issued on December 29, 2025 at an issue price of Rs 1,250 per warrant, with 25% paid upfront. Consequent to a 1:2 bonus issue, each warrant entitled holders to three shares upon paying the balance 75% consideration. The total transaction value for these warrants is approximately Rs 7.60 crore, resulting in minor equity dilution.

Allotted 1,82,400 equity shares to 10 non-promoter allottees on October 3, 2026
Converted 60,800 warrants out of total 72,000 warrants originally allotted on December 29, 2025
Original warrant issue price was Rs 1,250 per warrant (25% paid upfront, balance paid on conversion)
Entitlement adjusted for 1:2 bonus issue, yielding 3 equity shares per warrant converted
Only 2,667 warrants remain outstanding for conversion

💡 Track the updated shareholding pattern and total paid-up share capital in subsequent filings, along with the eventual conversion of the remaining 2,667 warrants.

Fredun Pharma Allots 1.82 Lakh Shares on Conversion of 60,800 Warrants Post-Bonus

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 03 Oct 2026, 05:41 PM

Allotted 1,82,400 equity shares to 10 non-promoter allottees on October 3, 2026
Converted 60,800 warrants out of total 72,000 warrants originally allotted on December 29, 2025
Original warrant issue price was Rs 1,250 per warrant (25% paid upfront, balance paid on conversion)
Entitlement adjusted for 1:2 bonus issue, yielding 3 equity shares per warrant converted
Only 2,667 warrants remain outstanding for conversion

💡 Track the updated shareholding pattern and total paid-up share capital in subsequent filings, along with the eventual conversion of the remaining 2,667 warrants.

Fredun Pharma Allots 3,61,599 Equity Shares on Conversion of 1,20,533 Warrants

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 22 Sep 2026, 07:05 PM

Fredun Pharmaceuticals has allotted 3,61,599 equity shares of Rs. 10 each to 10 non-promoter warrant holders following the conversion of 1,20,533 warrants. Due to a prior 1:2 bonus issue, the warrant entitlement was adjusted so that each warrant converted into 3 equity shares. The original warrants were issued on December 29, 2025, at an issue price of Rs. 1,250 per warrant (with 25% paid upfront and the remaining 75% received upon exercise). A minor balance of 7,467 warrants remains outstanding for conversion.

Allotment of 3,61,599 fully paid-up equity shares upon conversion of 1,20,533 warrants
Conversion ratio adjusted to 3 equity shares per warrant following a 1:2 bonus issue
Warrants initially issued at Rs. 1,250 per warrant on December 29, 2025, with 75% balance collected upon conversion
7,467 warrants remain outstanding for conversion among 10 non-promoter allottees

💡 Track subsequent shareholding patterns to monitor dilution impact and the conversion status of the remaining 7,467 warrants.

Fredun Pharma Allots 3,61,599 Equity Shares on Conversion of 1,20,533 Warrants

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 22 Sep 2026, 06:28 PM

Allotment of 3,61,599 fully paid-up equity shares upon conversion of 1,20,533 warrants
Conversion ratio adjusted to 3 equity shares per warrant following a 1:2 bonus issue
Warrants initially issued at Rs. 1,250 per warrant on December 29, 2025, with 75% balance collected upon conversion
7,467 warrants remain outstanding for conversion among 10 non-promoter allottees

💡 Track subsequent shareholding patterns to monitor dilution impact and the conversion status of the remaining 7,467 warrants.

Fredun Pharma Acquires 26% Stake in ₹300 Cr-Valued Goodman Vetcare

🟢 POSITIVE ⭐ 7/10

M&A 📅 22 Sep 2026, 09:20 AM

Fredun Pharmaceuticals has acquired a 26% stake in pet pharmacy chain Goodman Vetcare Private Limited, which is valued at ₹300 crore. Goodman Vetcare reported revenues of ₹23.6 crore in FY26 (up from ₹14.1 crore in FY24) and targets ₹40 crore in FY27 and ~₹100 crore by FY31. The acquisition provides Fredun with an omnichannel retail presence and forward integration for its animal healthcare and pet supplements business (Freossi). Goodman currently operates three stores across Mumbai and Navi Mumbai and plans to expand by adding at least eight new stores across three cities.

Acquired a 26% stake in Goodman Vetcare, pegging the entity's valuation at ₹300 crore (implied deal value ~₹78 crore).
Goodman Vetcare grew revenue by 30% annually from ₹14.1 crore in FY24 to ₹23.6 crore in FY26.
Goodman targets revenue of ~₹40 crore by FY27, ~₹56 crore by FY28, and ~₹100 crore by FY31.
Expansion plans include opening at least 8 new stores across 3 cities and commissioning a new warehouse in H1.

💡 Track the integration timeline, rollout pace of the 8 planned stores outside Mumbai, and cash outflow/financing details for the 26% stake in upcoming financial disclosures.

Fredun Pharmaceuticals Equity Shares Admitted to Trade on NSE from August 17, 2026

🟢 POSITIVE ⭐ 5/10

OTHER 📅 17 Aug 2026, 07:23 PM

Fredun Pharmaceuticals Limited has announced that its equity shares have been permitted to trade and admitted to dealings on the National Stock Exchange of India (NSE) effective August 17, 2026. The listing follows NSE Circular Ref. No. 1355/2026 dated August 14, 2026. The equity shares (Face Value Rs 10) will trade under the NSE symbol 'FREDUN' with ISIN INE194R01017. The company is already listed on BSE Limited, and this dual listing provides broader market access.

Trading on the National Stock Exchange (NSE) commenced on August 17, 2026
Assigned NSE trading symbol: FREDUN with ISIN INE194R01017
Listing approved pursuant to NSE Circular Ref. No. 1355/2026 dated August 14, 2026
Equity shares have a face value of Rs 10 per share

💡 Track trading volume and liquidity improvements across both exchanges, and monitor execution in upcoming quarterly financial results.

Fredun Pharma Q1 FY27 Revenue Up 90.4% to Rs 228.25 Cr, Guides 30-35% Blended Growth

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 17 Aug 2026, 04:20 PM

Fredun Pharmaceuticals reported a 90.44% YoY surge in standalone Q1 FY27 total income to INR 228.25 crores, with EBITDA growing 92.90% to INR 32.78 crores and net profit expanding 94.63% to INR 13.17 crores. Management guided for a blended revenue CAGR of 30-35% over the next 3 to 4 years, driven by 35-45% growth in new-age consumer brands and 15-20% growth in legacy formulations. The Fredun GX generics business has scaled to 19 states with a current base of INR 100-110 crores, while pet care is targeting 40-50% growth supported by the commercial rollout of Wagr.in within 60-90 days.

Q1 FY27 revenue rose 90.44% YoY to INR 228.25 crores, with net profit up 94.63% YoY to INR 13.17 crores.
EBITDA margins expanded 18 bps YoY to 14.36%, generating INR 32.78 crores in operating profit.
Management guided for 30-35% blended revenue growth over the next 3-4 years across existing and new lines.
Fredun GX expanded to 19 states with an expected annual run-rate base of INR 100-110 crores.
Pet care vertical guided to grow at 40-50% over the next 3 years from a base of INR 40-45 crores, targeting INR 18-24 crores from functional foods.

💡 Monitor the commercial scaling and beta completion of Wagr.in over the next 60-90 days, alongside quarterly operating margins and debt levels.

Fredun Pharma Reports No Deviation in Utilization of ₹111.53 Cr Preferential Issue Proceeds

🟡 NEUTRAL ⭐ 3/10

FUNDRAISE 📅 14 Aug 2026, 10:36 PM

Fredun Pharmaceuticals submitted its Statement of Deviation or Variation and CARE Ratings Monitoring Agency report for the quarter ended June 30, 2026. The company confirmed zero deviation in the utilization of the ₹111.53 crore raised via preferential issue of equity shares and convertible warrants on December 29, 2025. However, CARE Ratings noted specific observations concerning expenditure classification, supporting documentation, routing through operating accounts, working capital treatment, and unutilized proceeds reconciliation.

Total preferential issue funds received amounted to ₹111.53 crore as of June 30, 2026.
Nil deviation or variation reported in the objects and terms of fund utilization.
Original fund raising occurred on December 29, 2025 via equity shares and convertible warrants.
Monitoring Agency CARE Ratings highlighted observations on expenditure classification, documentation, operating account routing, and unutilized fund reconciliation.

💡 Monitor future quarterly monitoring reports to verify whether the documentation, account routing, and fund reconciliation observations raised by CARE Ratings are resolved.

Fredun Pharmaceuticals Releases Q1 FY27 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 13 Aug 2026, 04:47 PM

Fredun Pharmaceuticals has disclosed the audio recording of its Q1 FY27 earnings conference call held on August 13, 2026. The call discussed the un-audited financial results for the quarter ended June 30, 2026. This filing is a standard regulatory requirement under SEBI LODR Regulations. Investors can access the recording via the company's website to understand management's progress on its 25-30% growth target and the expansion of its pet care and mobility divisions.

Earnings conference call conducted on August 13, 2026, for the Q1 FY27 period.
Company continues to target a 25-30% growth rate through branded exports and pet care.
Own-brand exports currently constitute 65% of the company's export volume.
Debt levels remain at ₹222 Cr against a Net Worth of ₹278 Cr as per latest context.
Palghar facility expansion is ongoing to support the production of over 1,700 in-house products.

💡 Investors should review the audio recording for specific management commentary on the execution timeline of the Palghar expansion and the margin impact of the new pet care diagnostic center.

Fredun Pharmaceuticals Schedules Q1 FY27 Earnings Call for August 13, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 08 Aug 2026, 07:12 PM

Fredun Pharmaceuticals has scheduled its Q1 FY27 earnings conference call for August 13, 2026, at 11:30 AM. This follows a strong fiscal year where EBITDA growth of 41.6% outpaced revenue growth of 30.7%, driven by a shift toward high-margin pet care and mobility segments. Investors will be looking for updates on the 25-30% projected growth rate and the progress of the Palghar facility expansion. The company maintains a debt-to-equity ratio of 0.80 with a net worth of Rs 278 Cr.

Earnings conference call for Q1 FY27 scheduled for August 13, 2026, at 11:30 AM IST
Management targets a consistent growth rate of 25-30% through branded exports and pet care
Own-brand exports currently represent 65% of total export volume
Company reported a high ROCE of 21.0% and is expanding its Palghar facility to meet demand
EBITDA growth of 41.6% in FY25 indicates improving operational efficiency

💡 Monitor the earnings call for management commentary on the sustainability of the 4.6% PAT margins and the execution timeline for the Palghar facility expansion.

Fredun Pharmaceuticals Publishes Q1 FY27 Un-Audited Financial Results in Newspapers

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Aug 2026, 03:07 PM

Fredun Pharmaceuticals has published its un-audited financial results for the quarter ended June 30, 2026, in Active Times and Mumbai Lakshadeep newspapers. This follows the Board of Directors' approval of the results in their meeting held on August 5, 2026. The filing is a mandatory procedural requirement under Regulation 47(1)(b) of SEBI (LODR) Regulations, 2015. While the specific financial figures were not detailed in the text extract, the filing confirms the completion of the quarterly reporting cycle.

Board of Directors approved the un-audited financial results on August 5, 2026.
Results were published in Active Times and Mumbai Lakshadeep on August 6, 2026.
Filing complies with Regulation 47(1)(b) of SEBI Listing Regulations, 2015.
The announcement pertains to the financial quarter ended June 30, 2026.

💡 Investors should refer to the detailed financial results filing on the stock exchange to evaluate the company's performance against its stated 25-30% growth target.

90% Revenue Growth: Fredun Pharmaceuticals Reports Strong Q1 FY27 Results

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 06 Aug 2026, 01:56 PM

Fredun Pharmaceuticals reported a robust Q1 FY27 with total income jumping 90.44% YoY to ₹228.25 Cr. Net Profit nearly doubled, rising 94.63% YoY to ₹13.17 Cr, while EBITDA margins remained stable with a slight improvement of 18 bps to 14.36%. The company also completed a 2:1 bonus share allotment in July 2026, increasing its paid-up capital to 1.65 crore shares. This performance indicates strong momentum following a ₹639.12 Cr revenue year in FY26.

Total Income surged 90.44% YoY to ₹228.25 Cr in Q1 FY27
Net Profit increased 94.63% YoY to ₹13.17 Cr from ₹6.77 Cr in Q1 FY26
EBITDA grew 92.90% YoY to ₹32.78 Cr with margins at 14.36%
Allotted 1.10 crore bonus equity shares in a 2:1 ratio on July 17, 2026
Q1 FY27 revenue accounts for approximately 35.7% of the total FY26 revenue of ₹639.12 Cr

💡 Investors should monitor if the company can maintain this high growth trajectory in the coming quarters and track the progress of the Palghar facility expansion. The shift toward high-margin segments like pet care (Freossi) and mobility (Brace On) is a key driver for margin expansion to watch.

View All 539730 Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total income grew 30.7% YoY to INR 456.3 Cr in FY25, driven by generics, pet healthcare, nutraceuticals, and cosmeceuticals. 9MFY25 operating revenue grew 25.03% YoY to INR 288.86 Cr.

Geographic Revenue Split

Exports to 52 countries across Africa, Southeast Asia, CIS, Latin America, and MENA. 65% of exports are under the Fredun Generics brand, while 35% are OEM exports.

Profitability Margins

Net profit margin improved to 4.6% in FY25. PAT grew 33.2% YoY to INR 20.8 Cr in FY25. FY24 PAT margin was 4.48%, up from 3.91% in FY23 due to a focus on high-margin orders.

EBITDA Margin

EBITDA margin improved to 11.09% in FY24 from 10.56% in FY23. Absolute EBITDA rose 41.6% YoY to INR 55.1 Cr in FY25, reflecting operational efficiencies and cost management.

Capital Expenditure

Commenced expansion of the Palghar manufacturing facility to enhance capacity. Issued equity shares of INR 16.63 Cr in FY24 to support capital structure and growth.

Credit Rating & Borrowing

Credit rating upgraded to IVR BBB/Stable (Long Term) and IVR A3+ (Short Term) in April 2025. Total bank facilities rated at INR 139.64 Cr.

⚙️ Operational Drivers

Raw Materials

Active Pharmaceutical Ingredients (APIs) represent the primary raw material, accounting for 70-75% of the total cost of sales.

Import Sources

Sourced globally to support 1,700 products; specific countries not disclosed, but bulk procurement is used to mitigate supply chain disruptions.

Key Suppliers

Not specifically named; however, the company utilizes 37 contract manufacturing sites to supplement its in-house Palghar facility.

Capacity Expansion

Palghar facility expansion is underway to support growing demand; currently produces 1,700 products in-house and utilizes 37 contract manufacturing sites.

Raw Material Costs

Raw material costs are 70-75% of revenue. Operating margins are highly susceptible to sharp changes in input prices, managed through bulk procurement strategies.

Manufacturing Efficiency

EBITDA growth (41.6%) outpaced revenue growth (30.7%) in FY25, indicating improved operational efficiency and disciplined cost management.

Logistics & Distribution

Distributes to 52 international markets; strategic control is maintained by owning or jointly owning product registrations for OEM exports.

📈 Strategic Growth

Expected Growth Rate

25-30%

Growth Strategy

Growth will be achieved by expanding the Freossi pet care brand (targeting 2032 leadership), scaling the Brace On mobility division, and increasing own-brand exports which currently represent 65% of export volume.

Products & Services

Branded generics (Anti-Diabetics, Anti-Infectives), Freossi pet supplements, Fredun Nutrition nutraceuticals, Bird n Beauty cosmeceuticals, and Brace On mobility aids.

Brand Portfolio

Freossi, Fredun Gx, Fredun Nutrition, Bird n Beauty (BnB), BeautyFred, Brace On, Chuu Balm.

New Products/Services

Upcoming launches in functional foods and targeted surgical products for pets; recently launched Fredna Vet Diagnostics, India's first dedicated advanced diagnostic center for pets.

Market Expansion

Aggressive expansion into pet care, cosmeceuticals, and mobility solutions; recently completed export registration in Sri Lanka for pet care and commenced sales.

Market Share & Ranking

Fredun is the only Indian company offering a complete integrated pet care portfolio, positioning it as a unique player in the domestic pet wellness ecosystem.

Strategic Alliances

Acquired 80% stake in an e-commerce platform for zero acquisition cost, aligning with founders to invest INR 9-12 Cr into the platform's growth over 3-4 years.

🌍 External Factors

Industry Trends

The Indian pharma industry is projected to reach USD 130 billion by 2030; Fredun is aligning with this by shifting toward high-value complex generics and specialty therapies.

Competitive Landscape

Faces competition from established mobility brands like Vissco and Tynor; Fredun differentiates by leveraging its pharmaceutical expertise to offer superior quality in these segments.

Competitive Moat

Durable advantage through 697 global registrations and a 35-year manufacturing track record; owning the IP for 65% of exports ensures these advantages are sustainable.

Macro Economic Sensitivity

Sensitive to global economic stability and domestic GDP (6.5% growth in FY25); a 25 bps repo rate cut to 6.0% supports the company's debt-funded expansion plans.

Consumer Behavior

Growing consumer preference for natural active ingredients in personal care is driving the Fredun Nutrition segment, which focuses on additive-free products.

Geopolitical Risks

Operating in 52 countries (including CIS and MENA) exposes the company to regional instabilities and trade barriers that could disrupt the 30.7% revenue growth.

⚖️ Regulatory & Governance

Industry Regulations

Highly regulated by global health authorities; any adverse change in regulatory policies in the 52 export countries could impact the business risk profile.

Environmental Compliance

Proactively manages risks related to product quality and safety; while specific ESG costs are not disclosed, compliance is integrated into the long-term sustainability framework.

Taxation Policy Impact

Remuneration to directors is affirmed to be in compliance with the Companies Act 2013; the median employee remuneration increase of 16.59% reflects a competitive wage policy.

Legal Contingencies

No material pending court cases or labor disputes were reported in the provided financial and operational summaries for the 2024-25 period.

⚠️ Risk Analysis

Key Uncertainties

Primary risks include the elongated working capital cycle (172 days) and the volatility of API prices, which represent 70-75% of the cost of sales.

Geographic Concentration Risk

Revenue is spread across 52 countries, but manufacturing is concentrated in Palghar, India, making the company vulnerable to local regulatory or supply chain disruptions.

Third Party Dependencies

Utilizes 37 contract manufacturing sites; while this provides flexibility, it requires intense quality oversight to maintain the company's 697 global registrations.

Technology Obsolescence Risk

Mitigating digital risks by investing INR 9-12 Cr in an e-commerce platform and adopting digital quality systems to maintain global manufacturing standards.