In Conversation With, Fredun Medhora Managing Director and CFO, Fredun Pharmaceuticals Limited

Fredun Medhora
Managing Director and CFO, Fredun Pharmaceuticals Limited

“We are Focused on Creating Long-Term Wealth”

What is your outlook on the global and domestic pet care, nutraceuticals and cosmeceuticals industries?
The global markets are dynamic and growing. Pet care is further divided into subcategories and those are further growing. Nutraceuticals and cosmeceuticals are growing rapidly in India and across the world. Care has to be taken in extrapolating the growth targets for these categories as new products are being added constantly and the trajectories are fluid in nature.

Can you elucidate your ongoing transformation from a B2B to B2C player?
We are slowly evolving our company from a generic manufacturer of pharmaceutical products to a player with niche products in OTC categories. This is not an immediate transformation but a well thought of plan which we initiated as early as 2011. Our product developments, understanding the markets and creating a list of products which would match the requirements in our categories in the next decade have been our priorities. The fruits of our efforts will be seen in mid-decade. All the three categories, namely, B2B, B2BC and B2C will grow.

Can you throw some light on your Q1FY23 results?
Which factors have contributed the most to help you outperform? There are no specific factors that have contributed to our outperformance. Our growth is part of a long-term plan laid out almost 6-7 years ago and we are just following it. Both growth and de-growth will be seen with peaks and valleys but where we are headed matters more than what we are doing now. 

Could you elucidate on the products you have launched during H1FY23 as well as new product launches in the pipeline for H2FY23 and FY24?
We have almost 100+ products in the veterinary category along with about 23 products in the nutraceuticals segment and over 60 products in the cosmeceuticals segment. This is along with the planned growth of the core pharmaceutical exports. 

What is your segment-wise revenue mix and how do you expect it to evolve over the next 2-3 years? What segments do you expect to deliver high growth?
Unlike other companies we do not have an ethos of focusing on high-growth products or high-margin products. We are focused more on sustainability and creating long-term wealth not only for our team members but also our channel partners, our associates and our investors. Pet care and its categories and nutraceuticals and its product range are our future drivers along with niche pharmaceuticals where we are first movers in many markets. These three spokes will drive our wheel ahead.

What is your earnings’ outlook for H2FY23?
We expect a comfortable 11-15 per cent growth.