Multibagger stock hits 5% upper circuit as Board signs contracts worth ₹90 Cr
Premium- With a market valuation of Rs. 577.91 Cr., Fredun Pharmaceuticals Ltd. is a small-cap company engaged in the pharmaceutical industry.
With a market valuation of Rs. 577.91 Cr., Fredun Pharmaceuticals Ltd. is a small-cap company engaged in the pharmaceutical industry. With decades of experience in the production of different pharmaceutical applications, Fredun Pharmaceuticals Ltd. includes not only the top pharmaceutical companies in India but also those in South East Asia, Latin America, Africa, and CIS countries. Antihypertensives, antidiabetics, antiviral drugs (ARVs), and narcotics are only a few of the items offered by Fredun Pharmaceuticals Limited, a healthcare and pharmaceuticals firm. Along with producing medical products for animals, it also produces nutritional and herbal supplements, nutraceuticals, cosmeceuticals, and other healthcare items.
In a filing with the stock exchange today, the company said that it has signed two sizable contracts for Pharma and DC Granules. A Southeast Asian nation granted Fredun Pharmaceuticals Ltd. a one-year contract for pharmaceutical exports worth Rs. 65 crores. The revenue would commence in Q4 of FY23. This will be maintained after the first year of effective implementation under a much larger multi-year contract.
Fredun Pharmaceuticals has also informed stock exchanges by saying that it has further signed a contract for specialized DC granules for various therapeutic end uses. The annual contract is worth Rs. 25 crores and has the potential to go up to Rs. 40 crores from second year onwards. These DC Granules will be exported as well as supplied to local companies across India. Revenues from this contract would commence from Q4FY23 as well.
Commenting on the order wins, Mr. Fredun Medhora, Managing Director of Fredun Pharmaceuticals said, “We are delighted to grow our footprint in the Southeast Asian market that has tremendous opportunities. These contract wins are an important step in taking Fredun Pharmaceuticals to the next level. This reflects our capabilities that can be leveraged to further fuel growth for the Company."
The shares of Fredun Pharmaceuticals locked today at the 5% upper circuit limit and ended at an intraday high of ₹1,280.05 apiece level on the BSE. In trade today the stock recorded a total volume of 15,071 shares compared to the 20-Day average volume of 2,192 shares. The stock has produced a multibagger return of 1,127.28% over the past five years and a multibagger return of 165.19% during the past year. The stock has appreciated by 47.96% YTD so far in 2022. On the BSE, the stock had touched a 52-week-high of ₹1,385.90 on (07/11/2022) and a 52-week-low of ₹471.05 on (26/11/2021).
