Fredun Pharmaceuticals equity shares have been permitted to trade and admitted to dealings on the National Stock Exchange of India Limited (NSE) with effect from August 17, 2026. The company disclosed the intimation pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The admission follows NSE Circular Ref. No. 1355/2026 dated August 14, 2026, issued under Regulation 3.1.1 of the National Stock Exchange (Capital Market) Trading Regulations, Part A. Fredun Pharmaceuticals is already listed on BSE Limited.

Trading Details

The equity shares will commence trading on the NSE under the following parameters:

The company’s registered office is located in Mumbai, and its factory is situated in Palghar. Fredun Nariman Medhora, Managing Director, signed the disclosure.

Fredun Pharmaceuticals Limited delivered a strong set of numbers for Q1 FY27, with standalone total income rising 90.44% YoY to ₹228.25 crore. Net profit grew 94.63% YoY to ₹13.17 crore, while EBITDA expanded 92.90% YoY to ₹32.78 crore. The results were discussed at the company's earnings conference call held on August 13, 2026, moderated by Kirin Advisors, with Managing Director Fredun Medhora addressing investor questions.

Q1 FY27 financial highlights

The company's operating and profitability metrics showed broad-based improvement across the quarter. EBITDA margin came in at 14.36%, expanding 18 bps YoY, while net profit margin improved to 5.77%, up 12 bps YoY.

Management noted that the quarter received a partial boost from orders booked in Q4 of the prior year, when the company offered customers favourable pricing ahead of broader price increases. The first quarter has historically been the weakest among the four quarters due to the nature of order cycles, with dispatches typically picking up from late April.

Business segments and growth strategy

Management outlined growth across several business verticals during the call:

• Pharmaceutical distribution (GX): Fredun GX is now present across 19 states with a revenue base of approximately ₹100 crore to ₹110 crore. Management guided for 25% to 35% annual growth in this segment over the next five years, with a medium-term target of ₹110 crore to ₹130 crore.
• New age brands: Growing at approximately 35% to 45% YoY, with some brands at higher rates due to a lower base.
• Vintage business: Growing at approximately 15% to 20% YoY.
• Pet care: Currently generating approximately ₹40 crore to ₹45 crore in revenue. Management guided for 40% to 50% YoY growth over the next three to four years, supported by functional foods, diagnostics, grooming, therapeutics, and the planned launch of cat food by Q3 or Q4 of FY27. Functional food sales for FY27 are targeted at ₹18 crore to ₹24 crore.
• Wagr.in: The pet parenting e-commerce platform had a soft launch around June 15. Management indicated that beta testing and back-end development are expected to be completed within 60 to 65 days of the call date, with full campaigns and partnerships expected within approximately 90 days.

The company also highlighted its manufacturing expansion, noting the addition of approximately 43 manufacturing locations across its five plants in Palghar. Management stated a goal of becoming one of the largest single-location manufacturing units by end of December 2028 or early 2029.

Capital expenditure and working capital

On capital allocation, management guided for ₹30 crore to ₹40 crore in CapEx for the current financial year, with a similar outlay planned for the following year. Over a two-year horizon, the CapEx range was indicated at ₹35 crore to ₹45 crore per year, covering facility upgrades and compliance with cGMP protocols.

Working capital stood at approximately ₹170 crore to ₹175 crore, against a run rate of approximately ₹850 crore. Management described this as appropriate for the company's scale, noting that approximately 50% of working capital is held as cash. Inventory days are being rationalised, with a near-term target of around 135 to 140 days and a medium-term range of 110 to 125 days. Management noted inventory days have fallen approximately 50% over the last two years.

Interest costs and credit profile

Interest costs declined on a QoQ basis despite significant YoY revenue growth. Management attributed this to improved cash flows, reduced utilisation of credit limits, and a credit rating upgrade from BBB to BBB+. The company indicated that interest spending as a proportion of topline has reduced materially.

Margin outlook and profitability trajectory

Management outlined segment-level gross margin ranges to contextualise the profitability path:

Management noted that the blended improvement in margins is expected as higher-margin new age products constitute a larger share of revenue. A more pronounced uptick in profitability was indicated within the next 8 to 11 quarters, driven by completion of demographic reach and deeper penetration within existing channels. The company's revenue target for FY27 was stated at approximately ₹800 crore, with management noting that FY26 revenue of ₹635 crore exceeded the prior year's internal target of ₹570 crore.