Fredun Pharmaceuticals approves application for NSE trading

On November 5, 2026, Fredun Pharmaceuticals Limited approved an application to list and trade its equity shares on the National Stock Exchange of India Limited, subject to applicable laws, regulations and necessary approvals, alongside standalone profit of Rs 18.83 crore for the quarter ended September 30, 2026.

What did Fredun Pharmaceuticals approve for NSE?

Fredun Pharmaceuticals approved a proposal to make an application to the National Stock Exchange of India Limited, or NSE, for listing and trading of its equity shares. Its board approved the proposal at a meeting on November 5, 2026, which began at 10:00 a.m. and concluded at 11:10 a.m.

The decision authorises an application rather than confirming that trading on NSE has started. In its November 5, 2026 disclosure, Fredun Pharmaceuticals said the proposal is subject to applicable laws, regulations and necessary approvals, and did not provide an application date, an approval date or a prospective commencement date for NSE trading.

The filing identifies Fredun Pharmaceuticals by BSE Limited scrip code 539730. The board considered the NSE proposal at the same November 5 meeting at which it adopted unaudited standalone financial results for the quarter and half-year ended September 30, 2026.

What approvals remain before Fredun Pharmaceuticals can trade on NSE?

Fredun Pharmaceuticals must receive the applicable approvals before its shares can be listed and traded on NSE. The November 5, 2026 board resolution makes the proposal conditional, while the disclosure does not specify regulatory milestones, eligibility conditions, fees or a timetable.

Fredun Pharmaceuticals filed the outcome under Regulations 30 and 33 of the Securities and Exchange Board of India, or SEBI, Listing Obligations and Disclosure Requirements Regulations, 2015. The company said R.H. Nisar & Co., its statutory auditor, issued an unmodified limited-review conclusion on the unaudited standalone and consolidated results for the period ended September 30, 2026.

The company also said its insider-trading window was closed from October 1, 2026 until 48 hours after the declaration of the November 5 board-meeting outcome. That restriction followed a September 28, 2026 intimation and concerns trading by insiders, rather than the separate proposal to add NSE trading access.

How did Fredun Pharmaceuticals perform in the latest quarter?

Fredun Pharmaceuticals reported standalone profit for the period of Rs 18.83 crore for the quarter ended September 30, 2026, compared with Rs 9.73 crore for the quarter ended September 30, 2025. Net sales and income from operations rose to Rs 265.85 crore from Rs 143.59 crore, while total income from operations increased to Rs 267.64 crore from Rs 145.29 crore.

Profit before tax was Rs 29.90 crore in the September 2026 quarter, against Rs 13.01 crore a year earlier. Total expenses rose to Rs 237.73 crore from Rs 132.29 crore; material consumed was Rs 239.81 crore versus Rs 99.26 crore, while the inventory-change line was negative Rs 47.74 crore compared with positive Rs 4.41 crore.

For the half-year ended September 30, 2026, Fredun Pharmaceuticals recorded total income from operations of Rs 495.88 crore and profit for the period of Rs 32.00 crore, compared with Rs 265.15 crore and Rs 16.50 crore respectively in the corresponding 2025 half-year. The company reported a single operating segment, Pharmaceutical and Healthcare, so the filing contains no product-line or geographic revenue split.

What share-capital changes did Fredun Pharmaceuticals disclose?

Fredun Pharmaceuticals allotted 1,10,25,380 fully paid-up bonus equity shares on July 16, 2026, in the ratio of two shares for every one share held. Each equity share has a face value of Rs 10, and the company retrospectively adjusted comparative earnings per share, or EPS, under Indian Accounting Standard 33, Earnings per Share.

During the half-year ended September 30, 2026, Fredun Pharmaceuticals also allotted 1,60,533 equity shares following conversion of 1,60,533 warrants after receipt of the applicable consideration. Paid-up equity share capital was Rs 16.90 crore at September 30, 2026, compared with Rs 14.17 crore a year earlier and Rs 16.42 crore at March 31, 2026.

Basic EPS was Rs 11.21 for the September 2026 quarter, compared with Rs 6.87 in the September 2025 quarter after the stated retrospective adjustment. Public shareholding was 95,28,510 shares, or 56.38%, at September 30, 2026, compared with 24,11,277 shares, or 51.07%, a year earlier.

Promoter and promoter-group holdings comprised 73,71,159 non-encumbered shares, representing 43.62% of total share capital, at September 30, 2026. The disclosure showed no pledged or encumbered promoter and promoter-group shares at that date.

How did Fredun Pharmaceuticals' balance sheet change by September?

Fredun Pharmaceuticals reported standalone total assets of Rs 768.00 crore at September 30, 2026, compared with Rs 641.21 crore at March 31, 2026. Inventory increased to Rs 372.45 crore from Rs 269.80 crore, and property, plant and equipment rose to Rs 148.26 crore from Rs 117.61 crore.

Cash and cash equivalents decreased to Rs 55.15 crore at September 30, 2026 from Rs 64.90 crore at March 31, 2026. Trade and other receivables increased to Rs 97.03 crore from Rs 92.69 crore, while other financial assets declined to Rs 13.17 crore from Rs 53.26 crore.

Total equity stood at Rs 331.32 crore at September 30, 2026, compared with Rs 278.71 crore at March 31, 2026. Non-current borrowings increased to Rs 86.93 crore from Rs 56.31 crore, current borrowings fell to Rs 159.71 crore from Rs 165.72 crore, and trade and other payables rose to Rs 122.32 crore from Rs 87.47 crore.

Conclusion

Fredun Pharmaceuticals has approved the first disclosed corporate step towards listing and trading its equity shares on NSE, but the process remains conditional on applicable laws, regulations and necessary approvals. The proposal was announced with September-quarter standalone profit of Rs 18.83 crore, up from Rs 9.73 crore a year earlier, while the company continued to report one Pharmaceutical and Healthcare operating segment.

The next disclosed development to watch is an NSE application and the necessary approvals for listing and trading, because the November 5, 2026 filing gives no timetable. Subsequent financial disclosures may also show the effect of the July 16, 2026 bonus allotment of 1,10,25,380 shares and the half-year conversion of 1,60,533 warrants on the share base and EPS.