Multibagger Alert: Fredun Pharmaceuticals jumps 12 per cent in two days post Q3 results; hits fresh 52-week high
Over Q3FY22, the company has commissioned a state of the art warehousing facility totalling 60,000 sq. ft. capacity.
Shares of Fredun Pharmaceuticals are on a phenomenal roll. The scrip has rallied 4.49 per cent during early market hours to record a fresh 52-week high of Rs 1,140 on BSE on Monday, January 31, 2022. The stock has gained 30.78 per cent and 163.28 per cent over the last one and six months, respectively.
Fredun Pharmaceuticals recently reported a strong set of financial results for the quarter ended December 31, 2021. The company reported a 20 per cent jump in total income from Rs 45.57 crore reported in Q3FY21 to Rs 54.23 in Q3FY22. The company has posted a 40 per cent rise in net profit to Rs 1.87 crore for the period ended December 31, 2021, relative to Rs 1.34 crores for the same period last year.
Following are the business highlights for Q3FY22:
- The company launched Fredun Nutrition in UAE. Six products have already achieved targeted sales. Ten products are currently under registration. They plan to have 33 products registered by end of December 2022 in the MENA region.
- Conducted a grand launch for ‘Freossi’ range of products in Mumbai in association with PPAM. Achieved targets set for December 2022 and are on track to achieving current years’ target. It also added food products to the portfolio and will have 7 food products for vets by March 2022.
- Successfully launched products in Indian Railways after completing the audit. Hopeful for Supply in Defence by end of February 2022.
- Received 10 new registrations from the Philippines for the existing range of products.
- 12 products for Iraq have been successfully filed and 24 more by end of March 2022.
- Successful tie-up with a company in UAE for tech-transfer and for batch release manufacturing/direct compressible granules and ready to fill pellets.
- Commissioned a state of the art warehousing facility totalling 60,000 sq. ft. capacity.
On Monday, January 31, 2022, shares of Fredun Pharmaceuticals ended at Rs 1,106.05 on BSE, recording gains of 1.33 per cent.
Investors should keep a close eye on this multibagger story!