Multibagger Update: Fredun Pharmaceuticals locks at 5 per cent upper circuit; here's why!

Multibagger Update: Fredun Pharmaceuticals locks at 5 per cent upper circuit; here's why!

Mandar Wagh
/ Categories: Trending, Multibaggers

The pharma company announced the final dividend at 7 per cent per equity share, having a face value of Rs 10 each for the financial year 2021-22.

Today, only buyers were seen in the case of Fredun Pharmaceuticals Ltd as the pharma company announced the final dividend at 7 per cent per equity share, having a face value of Rs 10 each for the financial year 2021-22.  

  

Recently, the company announced that it recorded net sales and other operating income of Rs 71.85 crore thereby, posting a growth of 69.53 per cent from Rs 42.38 crore registered in Q4FY21. On the other hand, the operating profit was recorded at Rs 5.40 crore in Q4FY22 as compared to an operating profit of Rs 2.82 crore in Q4FY21. Q4FY22 recorded a net profit of Rs 2.30 crore in comparison with the net profit of Rs 0.73 crore in the same quarter of the previous year, surging 215.38 per cent.         

   

Considering the yearly performance, the net profit of Fredun Pharmaceuticals soared 214.34 per cent to Rs 6.33 crore as against Rs 2.02 crore during the previous year, ending March 2021. On the other hand, net sales rose by 67.11 per cent to Rs 226.09 crore as against Rs 135.29 crore during the previous year ending March 2021.   

  

The scrip has rallied 5 per cent during the early trades and locked up in the upper circuit at Rs 996.15 per share. The shares of Fredun Pharmaceuticals have more than doubled in less than six months. Considering on a year-to-date basis, the stock has surged nearly 15 per cent while over the month, it was able to deliver nearly 6 per cent returns to its shareholders.  

 

Fredun Pharmaceuticals Ltd is engaged in manufacturing various pharmaceutical formulations for pharma companies in India and across Africa, South-East Asia, and CIS countries & Latin America. It is also in the business of healthcare and aims to be a holistic healthcare provider.  

 

During Q4FY22, the company received approval for manufacturing Xenografts for various dental and orthopaedic surgical appliances from Central Drugs Standard Control Organisation (CDSCO), India. With this, the company aims to penetrate into the dental fraternity across India.  

 

Considering its commendable growth and bright future outlook, we suggest keeping a close eye on this scrip for the upcoming sessions.    

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