Fredun Pharmaceuticals Board of Directors convened on February 14, 2026, to formally address the monitoring agency report for the quarter ended December 31, 2025. The board meeting, conducted through video conferencing from 05:00 P.M. to 05:30 P.M., took note of Care Ratings Limited's observations regarding the company's preferential allotment proceeds utilization.

Board Meeting Outcomes

The company filed multiple regulatory disclosures following the board meeting, including the outcome under Regulation 30 and detailed deviation statements under Regulation 32(3) of SEBI LODR. The board confirmed that all reported deviations are procedural and classificatory in nature, with no diversion of funds from approved objects.

Monitoring Agency Findings

Care Ratings Limited identified deviations in the 25-50% range for the Rs. 97.78 crore raised through preferential allotment. The monitoring agency flagged four primary concerns regarding fund utilization and reporting discrepancies.

Fund Utilization Status

During the quarter, the company utilized Rs. 11.14 crore from the total Rs. 97.78 crore raised, with Rs. 86.64 crore remaining unutilized and deployed in permitted instruments.

Company's Response and Compliance

The Audit Committee and Board provided detailed explanations for each deviation. Regarding the Rs. 37.00 crore routing issue, the company clarified that temporary routing through cash credit accounts was purely operational, with no funds utilized for purposes other than stated objects. The board emphasized that enhanced monitoring and segregation mechanisms have been implemented to ensure stricter compliance going forward.

Deployment of Unutilized Proceeds

The remaining Rs. 86.64 crore has been strategically deployed across multiple financial instruments to ensure optimal returns while maintaining liquidity.

All projects remain within their implementation timelines as specified in the December 18, 2025 corrigendum, with completion periods ranging from 6-9 months for contingency items to 18-24 months for strategic reserves and brand marketing initiatives.

Fredun Pharmaceuticals Limited has announced its unaudited financial results for the quarter ended December 31, 2025, demonstrating robust financial performance. The Board of Directors approved these results at their meeting held on February 9, 2026, in compliance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance Overview

The pharmaceutical company delivered strong operational results during the third quarter. The financial statements were prepared in accordance with Indian Accounting Standards (Ind AS) and subjected to limited review by statutory auditors R.H. Nisar & Co.

Standalone Financial Results

Nine Months Performance

For the nine months ended December 31, 2025, the company reported net sales of ₹42,291.45 lakhs compared to ₹28,626.86 lakhs in the corresponding period of the previous year, representing a growth of 47.73%. Net profit for the nine-month period stood at ₹2,697.62 lakhs against ₹1,373.58 lakhs in the previous year, marking a 96.37% increase.

Consolidated Results

The consolidated financial results include the performance of subsidiaries Fredun Retail Private Limited, One Pet Stop Private Limited, and Wagr Retail Private Limited. Consolidated net sales for Q3 FY26 were ₹15,992.63 lakhs with a net profit of ₹1,047.80 lakhs.

Key Financial Metrics

Earnings Conference Call Recording Available

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has made available the audio recording of the earnings conference call held on February 12, 2026. The conference call discussed the unaudited financial results for the quarter ended December 31, 2025.

Conference Call Details

Board Meeting and Regulatory Compliance

The Board Meeting commenced at 11:00 AM and concluded at 1:50 PM on February 9, 2026. The company has fulfilled its regulatory obligations under SEBI regulations, with Managing Director Fredun Nariman Medhora (DIN: 01745348) signing the compliance documents.

Auditor's Review

Statutory auditors R.H. Nisar & Co. (Firm Registration Number: 120895W) conducted a limited review of the unaudited financial results. The auditors issued an unmodified conclusion, confirming that the financial statements comply with Indian Accounting Standards and SEBI disclosure requirements.

The company operates in a single business segment of "Pharmaceutical and Healthcare," with manufacturing facilities located at Zorabian Industrial Complex, Vevoor, Palghar, and registered office at Urmi Estate, Mumbai.