Fredun Pharmaceuticals Ltd signs two large contracts

Fredun Pharmaceuticals Limited (BSE: 539730), a leading healthcare and pharmaceuticals company, has signed two large contracts for Pharma and DC Granules.

The Company received one-year contract worth Rs. 65 crores from a Southeast Asian country for Pharma exports. The revenue would commence from Q4FY23. This is part of a much larger multiple-year contract and will be continued upon successful execution post first year.

The Company 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."

Shares of Fredun Pharmaceuticals Ltd was last trading in BSE at Rs. 1280.05 as compared to the previous close of Rs. 1219.10. The total number of shares traded during the day was 15071 in over 448 trades.

The stock hit an intraday high of Rs. 1280.05 and intraday low of 1202.60. The net turnover during the day was Rs. 19254222.00.

Source : Equity Bulls

Keywords

FredunPharmaceuticals INE194R01017 OrderWin DCGranules