Fredun Pharmaceuticals Ltd

₹ 672 -3.09%

21 Nov - close price

About

Incorporated in 1987, Fredun Pharmaceuticals
Ltd manufactures & exports healthcare and pharmaceuticals products^[1]

Key Points

Business Overview:^[1]
Company is a subsidiary of Fredun Group. It manufactures pharmaceutical and allopathic formulations viz. tablets, syrups, capsules, and ointments. Product basket includes multiple therapeutic classes such as anti-diabetics, anti-retroviral and anti-hypertensive. Company also ventured into manufacturing of dietary/herbal supplements, neutraceuticals, diagnostic kits along with Animal Healthcare products through its group companies Fredun Healthcare Pvt. Ltd. & Fredna Entereprises.
Company has 23 therapeutic classes*(including anti-diabetics, anti-retroviral
and anti-hypertensive), with 450** products registered in overseas markets.

Website BSE

Market Cap ₹ 316 Cr.
Current Price ₹ 672
High / Low ₹ 1,054 / 650
Stock P/E 17.9
Book Value ₹ 278
Dividend Yield 0.10 %
ROCE 17.6 %
ROE 15.0 %
Face Value ₹ 10.0

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Pros

Company is expected to give good quarter
Company has delivered good profit growth of 28.5% CAGR over last 5 years
Debtor days have improved from 87.4 to 68.0 days.
Company's median sales growth is 23.6% of last 10 years

Cons

Company has a low return on equity of 13.8% over last 3 years.
Promoter holding has decreased over last 3 years: -3.11%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Pharmaceuticals Industry: Pharmaceuticals - Indian - Formulations

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	54.76	54.23	71.85	48.42	70.32	77.96	79.81	62.05	81.98	87.00	118.03	78.82	107.35
	50.68	49.88	66.46	44.55	63.52	70.66	67.55	54.44	72.37	76.48	106.87	68.34	93.40
Operating Profit	4.08	4.35	5.39	3.87	6.80	7.30	12.26	7.61	9.61	10.52	11.16	10.48	13.95
OPM %	7.45%	8.02%	7.50%	7.99%	9.67%	9.36%	15.36%	12.26%	11.72%	12.09%	9.46%	13.30%	12.99%
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest	1.05	1.25	1.72	1.91	1.86	1.95	3.55	2.61	2.90	3.77	4.37	3.91	5.31
Depreciation	0.52	0.55	0.58	0.65	0.72	0.74	0.70	0.92	0.94	0.99	0.96	1.05	1.06
Profit before tax	2.51	2.55	3.09	1.31	4.22	4.61	8.01	4.08	5.77	5.76	5.83	5.52	7.58
Tax %	26.69%	26.67%	25.57%	27.48%	25.12%	25.16%	51.44%	41.18%	31.72%	26.74%	13.38%	25.18%	43.54%
	1.84	1.87	2.30	0.94	3.15	3.46	3.89	2.40	3.94	4.22	5.06	4.13	4.27
EPS in Rs	4.61	4.22	5.19	2.11	7.07	7.66	8.58	5.24	8.41	8.98	10.77	8.79	9.09
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	15	21	25	42	57	60	97	113	134	222	275	348	391
	14	20	24	38	53	54	87	104	126	208	247	310	345
Operating Profit	1	1	2	4	3	6	10	8	8	14	28	38	46
OPM %	9%	7%	7%	9%	6%	10%	11%	7%	6%	6%	10%	11%	12%
	0	0	0	1	2	0	0	1	1	2	2	1	0
Interest	1	1	1	2	2	2	3	4	4	5	9	14	17
Depreciation	0	1	1	1	1	1	1	2	2	2	3	4	4
Profit before tax	0	0	1	2	2	3	6	2	3	9	18	21	25
Tax %	80%	47%	52%	42%	36%	34%	28%	24%	37%	26%	38%	27%
	0	0	0	1	1	2	4	2	2	6	11	16	18
EPS in Rs	0.04	1.02	1.11	4.55	6.08	5.11	11.18	4.76	5.04	14.30	23.85	33.24	37.63
Dividend Payout %	0%	0%	0%	13%	10%	12%	6%	14%	14%	5%	3%	2%

Compounded Sales Growth
10 Years:	32%
5 Years:	29%
3 Years:	38%
TTM:	30%

Compounded Profit Growth
10 Years:	52%
5 Years:	28%
3 Years:	98%
TTM:	29%

Stock Price CAGR
10 Years:	%
5 Years:	26%
3 Years:	13%
1 Year:	-22%

Return on Equity
10 Years:	12%
5 Years:	11%
3 Years:	14%
Last Year:	15%

Balance Sheet

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	2	2	2	2	2	3	4	4	4	4	5	5	5
Reserves	0	0	0	1	2	19	35	37	39	63	84	115	126
	5	7	9	16	21	10	19	35	40	53	87	106	137
	7	8	11	24	30	47	47	65	79	66	83	82	87
Total Liabilities	15	18	23	43	56	79	105	141	162	187	257	308	355
	6	7	8	15	16	16	31	31	30	32	39	47	48
CWIP	0	0	1	0	4	11	0	0	0	0	0	0	0
Investments	0	0	0	0	0	0	0	0	0	0	0	1	1
	9	11	14	29	36	52	74	110	131	155	218	260	306
Total Assets	15	18	23	43	56	79	105	141	162	187	257	308	355

Cash Flows

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	1	-1	2	3	4	17	1	-11	0	-2	-14	-0
	-1	-2	-3	-6	-7	-8	-5	-1	-1	-4	-9	-8
	-0	2	1	3	3	-8	4	14	-1	7	25	6
Net Cash Flow	0	-0	0	1	-1	1	0	2	-2	1	1	-2

Ratios

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	47	59	75	98	131	94	67	126	112	148	46	68
Inventory Days	132	107	102	140	68	170	249	227	242	96	264	246
Days Payable	131	152	167	221	224	360	205	208	215	101	104	88
Cash Conversion Cycle	49	14	11	17	-24	-96	110	145	139	144	205	225
Working Capital Days	22	31	20	16	10	42	99	141	144	144	191	190
ROCE %	17%	14%	14%	25%	18%	16%	21%	10%	10%	13%	18%	18%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	51.27%	51.27%	51.04%	51.04%	50.34%	50.15%	49.62%	49.31%	49.16%	49.17%	49.17%	48.93%
	1.69%	1.69%	1.68%	1.68%	1.66%	1.65%	1.64%	1.60%	1.60%	1.60%	1.60%	1.59%
	47.04%	47.04%	47.27%	47.27%	48.00%	48.20%	48.74%	49.08%	49.24%	49.24%	49.23%	49.47%
No. of Shareholders	3,573	3,620	3,690	3,901	4,138	4,521	4,625	6,313	6,837	7,507	7,511	8,018

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	74.44%	54.04%	52.04%	52.04%	52.04%	51.27%	50.15%	49.17%	48.93%
	0.00%	0.00%	1.68%	1.23%	0.00%	0.00%	0.00%	0.00%	0.00%
	3.19%	2.19%	1.88%	1.88%	1.88%	1.69%	1.65%	1.60%	1.59%
	22.37%	43.77%	44.40%	44.85%	46.08%	47.04%	48.20%	49.24%	49.47%
No. of Shareholders	509	562	1,046	1,478	1,992	3,620	4,521	7,507	8,018

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Fredun Pharmaceuticals Ltd

Fredun Pharmaceuticals Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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