Transcript of the Earnings Conference call held on 11th November 2025 for Q2 & H1 FY26.
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Fredun Pharmaceuticals reported strong Q2 FY26 with total income up 35% YoY at INR 145.29 crores, EBITDA up 60% at INR 22.34 crores (margin improving to 15.37%), and net profit up 128% at INR 9.73 crores. H1 FY26 revenue grew 42% to INR 265.15 crores with EBITDA up 61% and PAT up 96% to INR 16.50 crores, and operating cash flows turned positive. Management outlined a multi-year roadmap targeting full vintage generics revenue mix by FY29 and over 51% of revenue from the US business by FY32, with mobility, nutraceuticals and pet care as key growth engines. The company highlighted pet care acquisitions (One Pet Stop and Wagr.ai), launched Snacky Jain (India's first pure Jain pet food) which has already secured 12 tons in pre-orders, and is expanding its Palghar manufacturing facility.
For shareholders, the call reinforces a strong growth and margin trajectory underpinned by aggressive expansion into pet care and new-age verticals, though much of the upside depends on execution of long-dated plans stretching to FY29-FY32. Stock could see positive sentiment from the doubling of profit growth and improving margins, but investors should note key questions on interest cost reduction and Wagr revenue scaling were not answered with specifics.