Sector Alpha Week of 2026-09-11
Not SEBI Registered !! Not Investment advice !!
Sector Alpha — machine-written from the numbers · Data as of 2026-09-11

Fredun Pharmaceuticals Ltd

FREDUN
Pharma - Formulators

Fredun Pharmaceuticals Ltd's earnings have outrun its stock. EPS grew +43.1% in a year against a +16.6% price move.

The sharpest disagreement: profits are rising, but only −7% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.

The price is in a confirmed uptrend (63 weeks in) while the P/E sits at the 98th percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +85.7% year on year, and −7% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.

Stage
Turning around
partial read
Price
₹1,414
+16.6% 1Y
P/E
53.3×
98th pctile
of its own 10-year range
Revenue (Jun 26)
₹228 Cr
+90.0% YoY
Profit (Jun 26)
₹13.0 Cr
+85.7% YoY
Operating margin
14.0%
flat YoY
ROCE
21%
FY26
ROIC
14.1%
vs WACC 12.0% → +2.1 pp
Cash conversion
−7%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Fredun Pharmaceuticals Ltd trades at ₹1,414, in a confirmed uptrend and 63 weeks into that stage. That is +64.1% against its own 200-day average. It sits at 57% of a 52-week range of ₹729 to ₹1,923. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (4 weeks and counting).

Today the stock is in a confirmed uptrend — week 63 of stage 2, confirmed. At ₹1,414 it trades +64.1% versus its 200-day average and sits at 57% of its 52-week range (₹729–₹1,923).

Sep 26: ₹1,414 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
+64.1% versus the 200-day line, week 63 of stage 2
Price50-day avg200-day avg
S4S4S2₹2,028₹1,649₹1,271₹892₹513₹1,414₹861Sep 23May 24Jan 25Sep 25Sep 26
S4S4S2₹2,028₹1,649₹1,271₹892₹513₹1,414₹861Sep 23Jan 25Sep 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (483 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Mar 16Sep 26

Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +11,208% while the NIFTY 500 moved +259% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (4 weeks and counting; last ahead the week of 2026-08-14) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Fredun Pharmaceuticals Ltd trades at 53.3× P/E, about the priciest it has ever traded. Its long-run median P/E is 31.4×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 53.3× is about the priciest it has ever traded, against a long-run median of 31.4× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 53.3× vs a 31.4× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 10.4-year window; loss-period spikes above 53× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
about the priciest it has ever traded
P/EMedianEPS (TTM) (quarterly)
57.4×₹29.943.1×₹22.428.7×₹14.914.4×₹7.50.0×₹0.0×51.10×₹28Apr 16Jul 25Dec 25Apr 26Sep 26
57.4×₹29.943.1×₹22.428.7×₹14.914.4×₹7.50.0×₹0.0×51.10×₹28Apr 16Dec 25Sep 26
P/E
53.3×
98th percentile of 10y

Why the multiple sits where it does: over the past year annual EPS moved +43.1% against a +16.6% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 10y, of the +49.7%/yr price move, ~+17.2%/yr came from earnings growth and ~+32.5 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.

03 · What the price assumes

What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.

Solved at its 13 June 2026 price, Fredun Pharmaceuticals Ltd was paying for profit growth of about 14.8% a year. Profit itself has compounded 41.9% a year over the past 10 years. Today the market pays 53.3× P/E, the 98th percentile of its own 10-year range.

What the two numbers say together. The multiple is full against its own past, and the growth the price is paying for is below what this company has actually delivered.

How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.

04 · Stage: Turning around

Stage: Turning around Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Fredun Pharmaceuticals Ltd reads as turning around on its fundamental arc. Turning around — EPS growth swung from −28.1% at the trough to +36.4%, a 3-quarter improving streak, ROCE lifting at 21.0%. The read is built from 8 quarters across 4 curves, on partial evidence.

Growth, year by year: revenue +39.9% in FY26, profit +65.0% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn. Turnaround-year spikes shown pinned (▲).
Revenue YoYProfit YoYEPS YoY
73%329%55%225%37%121%18%17%0.0%−87%%%39.9%65%FY16FY21FY26
73%329%55%225%37%121%18%17%0.0%−87%%%39.9%65%FY16FY21FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue accelerating, profit accelerating
RevenueProfitEPS
106%162%76%106%46%51%16%−4.7%−14%−60%%%91.5%138.9%36.4%Sep 23Dec 24Jun 26
106%162%76%106%46%51%16%−4.7%−14%−60%%%91.5%138.9%36.4%Sep 23Dec 24Jun 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
21%20%19%18%17%%21%FY23FY24FY26
21%20%19%18%17%%21%FY23FY24FY26
Revenue growth
Flat
latest +91.5% · span −6.0% to +97.7%
Profit growth
Rising
latest +138.9% · span +0.0% to +146.7%
EPS growth
Recovering
latest +36.4% · span −45.0% to +36.4%
ROCE
Rising
latest 21.0% · span 17.0%–21.0%

Why it matters: growth inflections are where re-ratings start — the curves say a turn is forming, so the question becomes whether the next quarters confirm it.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+39.9%+32.2%+36.5%+31.2%
Profit+65.0%+44.2%+75.2%+41.9%
EPS+43.1%−5.9%+31.6%+15.9%
Share price+16.6%+16.1%+29.1%+49.7%
Revenue YoY (Jun 26)
+90.0%
latest quarter vs a year ago
Profit YoY (Jun 26)
+85.7%
latest quarter vs a year ago
Revenue 10y
31.2%
long-run compound pace
05 · 4-Factor Sector Score

4-Factor Sector Score

64.9/100 — rank 8 of 44 in Pharma - Formulators · 74% evidence confidence

Fredun Pharmaceuticals Ltd scores 64.9 out of 100 against the 44 companies it is compared with in Pharma - Formulators, ranking 8. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 26.7 + 13 + 9.3 + 15.9 = 64.9. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

06 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Fredun Pharmaceuticals Ltd reported ₹228 Cr of revenue in the Jun 26 quarter, +90.0% year on year. That is the 3rd straight quarter of year-on-year growth. Over 10 years it has compounded at 31.2% a year. The last full year, FY26, came in at ₹635 Cr. The last four reported quarters add to ₹747 Cr.

FY26 revenue came in at ₹635 Cr (+39.9% on the year), capping 10 years at 31.2% compound. The latest quarter (Jun 26) printed ₹228 Cr, +90.0% year on year — the 3rd consecutive quarter of year-over-year growth.

FY26 revenue ₹635 Cr (+39.9% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
31.2% a year over 10 years
RevenueYoY growth
68673%51455%34337%17118%00.0%₹ Cr%₹63539.9%FY16FY21FY26
68673%51455%34337%17118%00.0%₹ Cr%₹63539.9%FY16FY21FY26
Jun 26: ₹228 Cr (+90.0% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
3rd straight quarter of growth
Revenue (quarterly)YoY growth
246105%18550%123−5.0%62−60%0−115%₹ Cr%₹22890%Sep 23Dec 24Jun 26
246105%18550%123−5.0%62−60%0−115%₹ Cr%₹22890%Sep 23Dec 24Jun 26

Pace check: the last four quarters averaged +57.9% growth against the decade's 31.2% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +91.5% over the last 4 quarters against +42.9%/yr over the last 8 — accelerating; TTM profit +138.9% vs +59.0%/yr — accelerating.

07 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Fredun Pharmaceuticals Ltd's operating margin is 14.0% in the Jun 26 quarter, +0.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged 6.0% to 14.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 14.0%, +0.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 6.0%–14.0%, and FY26's 14.0% is the top of that band — a record year.

Why the margin moved: operating margin went +0.2 pp year on year while gross margin went −5.5 pp — the gain came mostly from the gross line: input costs and pricing.

Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.

FY26: 14.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 13-year window.
the widest a 6.0–14.0% band over 13 years
operating marginYoY change (pp)
15%4.6%12%2.3%10%0.0%7.7%−2.3%5.4%−4.6%%%14%2%FY14FY20FY26
15%4.6%12%2.3%10%0.0%7.7%−2.3%5.4%−4.6%%%14%2%FY14FY20FY26
Jun 26: 14.0% operating margin (+0.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
17%4.8%15%1.9%13%−1.0%10%−3.9%8.4%−6.8%%%14%0%Sep 23Dec 24Jun 26
17%4.8%15%1.9%13%−1.0%10%−3.9%8.4%−6.8%%%14%0%Sep 23Dec 24Jun 26
08 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Fredun Pharmaceuticals Ltd earned ₹13.0 Cr of net profit in the Jun 26 quarter, +85.7% year on year. It is the 3rd consecutive quarter of growth. Full-year FY26 profit was ₹33.0 Cr. The 10-year compound rate is 41.9%. That is 5.7% of the quarter's revenue. The same quarter a year earlier earned ₹7.0 Cr.

Jun 26 profit was ₹13.0 Cr, +85.7% year on year — the 3rd consecutive quarter of growth. On the full year, FY26 printed ₹33.0 Cr (+65.0%), and the 10-year compound rate is 41.9%.

FY26 profit ₹33.0 Cr (+65.0% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
41.9% a year over 10 years
Net profitYoY growth
36220%27148%1875%90.0%0−70%₹ Cr%₹3365%FY16FY21FY26
36220%27148%1875%90.0%0−70%₹ Cr%₹3365%FY16FY21FY26
Jun 26: ₹13.0 Cr (+85.7% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
3rd straight quarter of growth
Net profit (quarterly)YoY growth
14116%1158%70.0%4−58%0−116%₹ Cr%₹1385.7%Sep 23Dec 24Jun 26
14116%1158%70.0%4−58%0−116%₹ Cr%₹1385.7%Sep 23Dec 24Jun 26

Why profit moved: revenue contributed +90.0% and the margin +0.0 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit +89.7% vs revenue +57.9%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

09 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years −7% of Fredun Pharmaceuticals Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹12.0 Cr of operating cash against ₹33.0 Cr of profit. After ₹73.0 Cr of capital spending, ₹−61.0 Cr was left as free cash.

FY26: operating cash of ₹12.0 Cr against reported profit of ₹33.0 Cr, leaving free cash of ₹−61.0 Cr after ₹73.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −7% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹12.0 Cr vs profit ₹33.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution.
−7% of 3-year profit arrived as cash
Operating cashNet profitFree cash
4113−14−41−69₹ Cr₹12₹33₹−61FY16FY21FY26
4113−14−41−69₹ Cr₹12₹33₹−61FY16FY21FY26
FY26: CFO = 36% of profit (three-year rate −7%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
368%122%−125%−372%−618%%36%FY16FY21FY26
368%122%−125%−372%−618%%36%FY16FY21FY26

🚨 Why conversion sits at −7%: the cash cycle stretched 62 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: conversion is below par and the cash cycle has stretched 62 days — the next section's job is to find where the cash is stuck.

10 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Fredun Pharmaceuticals Ltd's cash conversion cycle runs 201 days in FY26, up from 139 days in FY21. Capital spending ran ₹96.0 Cr over the last 3 years. At FY26 sales of ₹635 Cr each day of that cycle holds about ₹1.7 Cr, so roughly ₹350 Cr sits inside the business at any moment.

FY26: debtors at 53 days, inventory at 219 days — roughly 7.2 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 201 days, looser than FY21's 139.

The full loop: cash goes out to suppliers and production on day 0; stock waits 219 days to sell; customers pay about 53 days after that; and suppliers themselves are paid at 71 days — netting out to the 201-day cycle.

In money terms: at FY26 sales of ₹635 Cr, each day of the cycle holds about ₹1.7 Cr — so the 201-day loop keeps roughly ₹350 Cr sitting inside the business at any moment.

FY26: a 201-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 13-year window.
+62 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
3962641320−132days201d219d53d71dFY14FY17FY20FY23FY26
3962641320−132days201d219d53d71dFY14FY20FY26

On the investment side: capital spending of ₹96.0 Cr over the last 3 fiscal years against ₹17.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹73.0 Cr, work-in-progress ₹0.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
795939200₹ Cr₹73₹0FY16FY18FY21FY23FY26
795939200₹ Cr₹73₹0FY16FY21FY26

The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.

11 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Fredun Pharmaceuticals Ltd earns a ROCE of 21% in FY26. That is up from a trough of 10% in FY20. Return on invested capital clears the cost of that capital by +2.1 percentage points, so growth here adds value rather than only size. The wiring behind it is 5.2% net margin on 0.99× asset turns.

FY26 ROCE is 21%, recovered from a FY20 trough of 10% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 5.2% net margin × 0.99× asset turns × 2.31× balance-sheet leverage ≈ 11.9% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 14.1% − 12.0% = a +2.1 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Positive but thin — value creation with little room for error.

FY26: ROCE 21% Return on capital employed by fiscal year, % (line). 13-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY20's 10%
ROCEWACC
26%22%18%13%8.8%%21%FY14FY17FY20FY23FY26
26%22%18%13%8.8%%21%FY14FY20FY26
12 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Fredun Pharmaceuticals Ltd carries ₹222 Cr of borrowings against ₹278 Cr of equity in FY26, a debt-to-equity of 0.80. Operating profit covers the interest bill 2×. Over 5 years borrowings went from ₹40.0 Cr to ₹222 Cr. Capital spending ran ₹96.0 Cr across the last 3 of those years.

FY26: borrowings of ₹222 Cr against equity of ₹278 Cr — a debt-to-equity of 0.80. Operating profit covers the interest bill 2×. Over 5 years borrowings went from ₹40.0 Cr to ₹222 Cr while capital spending ran ₹96.0 Cr in just the last 3 — part of the build-out is riding on borrowed money.

FY26: borrowings ₹222 Cr at 0.80× equity Borrowings by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 13-year window. Quarterly balance-sheet history is not held for India — annual is the honest resolution.
the debt trajectory
BorrowingsDebt-to-equity
2405.7×1804.3×1202.9×601.5×00.1×₹ Cr×₹2220.80×FY14FY17FY20FY23FY26
2405.7×1804.3×1202.9×601.5×00.1×₹ Cr×₹2220.80×FY14FY20FY26
13 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters cut 4.4 points of Fredun Pharmaceuticals Ltd over 8 quarters, the biggest move on the register. That takes promoters to 44.6% of the company. Domestic institutions moved +1.3 points over the same window, to 2.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: −4.4 points over 8 quarters to 44.6%; Domestic institutions: +1.3 points over 8 quarters to 2.9%; Foreign institutions: +1.1 points over 8 quarters to 1.1%.

🚨 Why the register moved: promoters drove it (−4.4 points), absorbed on the other side by domestic institutions (+1.3 points) — distribution into the market’s bid.

Fiscal-year ends: promoters −5.0 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
56%41%26%11%−4.2%%44.2%1.1%2.8%51.9%Mar 24Mar 25Mar 26
56%41%26%11%−4.2%%44.2%1.1%2.8%51.9%Mar 24Mar 25Mar 26
Promoters cut 4.4 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
57%42%27%11%−4.2%%44.6%1.1%2.9%51.4%Dec 23Jun 25Jul 26
57%42%27%11%−4.2%%44.6%1.1%2.9%51.4%Dec 23Jun 25Jul 26
14 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Fredun Pharmaceuticals Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

15 · Related companies · Pharma - Formulators
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Kwality Pharmaceuticals Ltd539997 73.7/100Favorable setup82% evidence LEADER 31.1/35 Revenue 37.9% · PAT 88.4% · OPM change 3 pp 95% evidence 17.8/25 ROCE 24.1% · OPM 25% 76% evidence 6.2/20 P/E 46.3× · PEG — 50% evidence 18.6/20 RS sector 72.7% · RS bench 113.3% · 1Y 288.3%12 of 12 weeks ahead 100% evidence
Exact sum: 31.1 + 17.8 + 6.2 + 18.6 = 73.7 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2Glenmark Pharmaceuticals LtdGLENMARK 71.1/100Favorable setup100% evidence TURNING 30.8/35 Revenue 32.9% · PAT 100% · OPM change 2 pp 100% evidence 18.2/25 ROCE 39.8% · OPM 20% 100% evidence 12.4/20 P/E 21.9× · PEG 1.43 100% evidence 9.7/20 RS sector -11.1% · RS bench 15.2% · 1Y 17.9%3 of 12 weeks ahead 100% evidence
Exact sum: 30.8 + 18.2 + 12.4 + 9.7 = 71.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Bliss GVS Pharma LtdBLISSGVS 69.5/100Favorable setup82% evidence LEADER 29.0/35 Revenue 20.6% · PAT 25.7% · OPM change 7 pp 95% evidence 14.8/25 ROCE 16.9% · OPM 27% 76% evidence 6.0/20 P/E 55.7× · PEG — 50% evidence 19.7/20 RS sector 102.4% · RS bench 147.9% · 1Y 362.4%12 of 12 weeks ahead 100% evidence
Exact sum: 29 + 14.8 + 6 + 19.7 = 69.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Ipca Laboratories LtdIPCALAB 67.9/100Favorable setup82% evidence BREAKING OUT 26.3/35 Revenue 10.6% · PAT 68% · OPM change 6 pp 95% evidence 15.8/25 ROCE 17% · OPM 24% 76% evidence 11.0/20 P/E 36.4× · PEG — 50% evidence 14.8/20 RS sector -0.6% · RS bench 28.3% · 1Y 47.5%10 of 12 weeks ahead 100% evidence
Exact sum: 26.3 + 15.8 + 11 + 14.8 = 67.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Lupin LtdLUPIN 66.8/100Favorable setup93% evidence ASLEEP 29.6/35 Revenue 28.2% · PAT 49.2% · OPM change 2 pp 100% evidence 19.3/25 ROCE 29.9% · OPM 30% 100% evidence 16.3/20 P/E 16.1× · PEG 0.54 65% evidence 1.6/20 RS sector -26.2% · RS bench -4% · 1Y 7.8%0 of 12 weeks ahead 100% evidence
Exact sum: 29.6 + 19.3 + 16.3 + 1.6 = 66.8 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -26.2% and the one-year return is 7.8%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
6Emcure Pharmaceuticals LtdEMCURE 66.3/100Favorable setup75% evidence LEADER 27.3/35 Revenue 18.4% · PAT 32.2% · OPM change 1 pp 95% evidence 18.2/25 ROCE 24% · OPM 21% 76% evidence 9.9/20 P/E 36.4× · PEG — 15% evidence 10.9/20 RS sector -2.5% · RS bench 25.5% · 1Y 44.2%10 of 12 weeks ahead 100% evidence
Exact sum: 27.3 + 18.2 + 9.9 + 10.9 = 66.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Corona Remedies LtdCORONA 65.2/100Favorable setup73% evidence BREAKING OUT 23.0/35 Revenue 18% · PAT 19.3% · OPM change 2 pp 100% evidence 20.4/25 ROCE 33.3% · OPM 22% 100% evidence 11.8/20 P/E 64.4× · PEG 1.18 65% evidence 10.0/20 RS sector — · RS bench — · 1Y —12 of 12 weeks ahead 0% evidence
Exact sum: 23 + 20.4 + 11.8 + 10 = 65.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Fredun Pharmaceuticals Ltdthis pageFREDUN 64.9/100Mixed-positive evidence74% evidence 26.7/35 Revenue 91.5% · PAT 100% · OPM change 0 pp 95% evidence 13.0/25 ROCE 21.3% · OPM 14% 95% evidence 9.3/20 P/E 53.3× · PEG — 15% evidence 15.9/20 RS sector 24.1% · RS bench 96.2% · 1Y 9.2%4 of 12 weeks ahead 70% evidence
Exact sum: 26.7 + 13 + 9.3 + 15.9 = 64.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9Accent Microcell LtdACCENTMIC 64.5/100Mixed-positive evidence63% evidence LEADER 17.5/35 Revenue — · PAT — · OPM change -1 pp 26% evidence 18.9/25 ROCE 24.9% · OPM 16% 95% evidence 8.7/20 P/E 39.7× · PEG — 50% evidence 19.4/20 RS sector 44.8% · RS bench 83.4% · 1Y 160.1%12 of 12 weeks ahead 100% evidence
Exact sum: 17.5 + 18.9 + 8.7 + 19.4 = 64.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10Caplin Point Laboratories LtdCAPLIPOINT 61.8/100Mixed-positive evidence100% evidence LEADER 19.0/35 Revenue 15% · PAT 19.6% · OPM change 0 pp 100% evidence 17.7/25 ROCE 24.2% · OPM 35% 100% evidence 9.4/20 P/E 31.5× · PEG 1.52 100% evidence 15.7/20 RS sector 5.8% · RS bench 36.1% · 1Y 28.8%12 of 12 weeks ahead 100% evidence
Exact sum: 19 + 17.7 + 9.4 + 15.7 = 61.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11Rubicon Research LtdRUBICON 57.6/100Mixed-positive evidence73% evidence BREAKING OUT 24.1/35 Revenue 46.8% · PAT 91.4% · OPM change 2 pp 100% evidence 17.9/25 ROCE 28.4% · OPM 24% 100% evidence 5.6/20 P/E 105× · PEG 2.63 65% evidence 10.0/20 RS sector — · RS bench — · 1Y —12 of 12 weeks ahead 0% evidence
Exact sum: 24.1 + 17.9 + 5.6 + 10 = 57.6 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
12Marksans Pharma LtdMARKSANS 57.4/100Mixed-positive evidence87% evidence BREAKING OUT 25.8/35 Revenue 19.6% · PAT 48% · OPM change 9 pp 100% evidence 15.8/25 ROCE 18.8% · OPM 25% 100% evidence 6.3/20 P/E 28.9× · PEG 2.85 65% evidence 9.5/20 RS sector -18.1% · RS bench 58.3% · 1Y 95%11 of 11 weeks ahead 70% evidence
Exact sum: 25.8 + 15.8 + 6.3 + 9.5 = 57.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13Ajanta Pharma LtdAJANTPHARM 56.3/100Mixed-positive evidence100% evidence BREAKING OUT 21.3/35 Revenue 20.2% · PAT 22.2% · OPM change -1 pp 100% evidence 19.6/25 ROCE 34.5% · OPM 26% 100% evidence 5.5/20 P/E 38.9× · PEG 2.31 100% evidence 9.9/20 RS sector -5.3% · RS bench 22.1% · 1Y 35.2%11 of 12 weeks ahead 100% evidence
Exact sum: 21.3 + 19.6 + 5.5 + 9.9 = 56.3 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
14Strides Pharma Science LtdSTAR 55.9/100Mixed-positive evidence75% evidence TURNING 20.6/35 Revenue 8.1% · PAT 79.1% · OPM change -1 pp 95% evidence 13.3/25 ROCE 18.3% · OPM 18% 76% evidence 11.2/20 P/E 18.8× · PEG — 15% evidence 10.8/20 RS sector -4.1% · RS bench 24% · 1Y 32.9%4 of 12 weeks ahead 100% evidence
Exact sum: 20.6 + 13.3 + 11.2 + 10.8 = 55.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15Wockhardt LtdWOCKPHARMA 54.3/100Mixed-positive evidence74% evidence TURNING 24.9/35 Revenue 18.4% · PAT 100% · OPM change 11 pp 74% evidence 5.3/25 ROCE 7.5% · OPM 21% 100% evidence 8.8/20 P/E 88.8× · PEG — 15% evidence 15.3/20 RS sector 10.9% · RS bench 42% · 1Y 47.4%11 of 12 weeks ahead 100% evidence
Exact sum: 24.9 + 5.3 + 8.8 + 15.3 = 54.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16RPG Life Sciences LtdRPGLIFE 52.6/100Mixed-positive evidence93% evidence LEADER 11.9/35 Revenue 11.9% · PAT -34.1% · OPM change 1 pp 100% evidence 17.5/25 ROCE 25.7% · OPM 22% 100% evidence 11.1/20 P/E 38.2× · PEG 1.43 65% evidence 12.1/20 RS sector -8.1% · RS bench 19.1% · 1Y 13.5%11 of 12 weeks ahead 100% evidence
Exact sum: 11.9 + 17.5 + 11.1 + 12.1 = 52.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17ERIS Lifesciences LtdERIS 52.6/100Mixed-positive evidence76% evidence BASING 20.4/35 Revenue 9.6% · PAT 62.2% · OPM change -2 pp 95% evidence 14.3/25 ROCE 14.1% · OPM 34% 76% evidence 11.9/20 P/E 28.6× · PEG — 50% evidence 6.0/20 RS sector -13.8% · RS bench -5% · 1Y -21.6%0 of 10 weeks ahead 70% evidence
Exact sum: 20.4 + 14.3 + 11.9 + 6 = 52.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18Akums Drugs & Pharmaceuticals LtdAKUMS 51.3/100Mixed-positive evidence75% evidence LEADER 13.2/35 Revenue 9.2% · PAT -15.8% · OPM change 2 pp 95% evidence 10.9/25 ROCE 14.9% · OPM 15% 76% evidence 9.6/20 P/E 40× · PEG — 15% evidence 17.6/20 RS sector 15.9% · RS bench 48% · 1Y 68.7%12 of 12 weeks ahead 100% evidence
Exact sum: 13.2 + 10.9 + 9.6 + 17.6 = 51.3 · Decision use: Price leads the evidence: RS versus the benchmark is 48%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
19Suven Life Sciences LtdSUVEN 51.0/100Mixed-positive evidence67% evidence LEADER 19.8/35 Revenue 25% · PAT -80% · OPM change -997 pp 74% evidence 2.2/25 ROCE -79.5% · OPM — 84% evidence 10.0/20 P/E — · PEG — 0% evidence 19.0/20 RS sector 29.3% · RS bench 63% · 1Y 60%12 of 12 weeks ahead 100% evidence
Exact sum: 19.8 + 2.2 + 10 + 19 = 51 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20Zydus Lifesciences LtdZYDUSLIFE 49.3/100Mixed-negative evidence100% evidence FADING 11.9/35 Revenue 21.1% · PAT -2.5% · OPM change -8 pp 100% evidence 16.7/25 ROCE 21.1% · OPM 24% 100% evidence 13.7/20 P/E 22.9× · PEG 1.23 100% evidence 7.0/20 RS sector -11.7% · RS bench 14.3% · 1Y 10.4%9 of 12 weeks ahead 100% evidence
Exact sum: 11.9 + 16.7 + 13.7 + 7 = 49.3 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
21J B Chemicals & Pharmaceuticals LtdJBCHEPHARM 47.1/100Mixed-negative evidence96% evidence 10.6/35 Revenue 5.9% · PAT 7.4% · OPM change -2 pp 88% evidence 20.6/25 ROCE 25.4% · OPM 22% 100% evidence 3.9/20 P/E 53.8× · PEG 2.34 100% evidence 12.0/20 RS sector -0.3% · RS bench 23.5% · 1Y 40.2%3 of 4 weeks ahead to 2026-07-19 100% evidence
Exact sum: 10.6 + 20.6 + 3.9 + 12 = 47.1 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
22Lincoln Pharmaceuticals LtdLINCOLN 46.8/100Mixed-negative evidence87% evidence ASLEEP 15.1/35 Revenue 10% · PAT 11.5% · OPM change 0 pp 95% evidence 15.3/25 ROCE 16.3% · OPM 15% 95% evidence 10.8/20 P/E 13× · PEG — 50% evidence 5.6/20 RS sector -15.1% · RS bench 9.9% · 1Y 11.6%0 of 12 weeks ahead 100% evidence
Exact sum: 15.1 + 15.3 + 10.8 + 5.6 = 46.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
23Alkem Laboratories LtdALKEM 45.1/100Mixed-negative evidence82% evidence ASLEEP 14.6/35 Revenue 13.4% · PAT -5.5% · OPM change -2 pp 95% evidence 17.4/25 ROCE 21.2% · OPM 20% 76% evidence 11.6/20 P/E 26.8× · PEG — 50% evidence 1.5/20 RS sector -28.5% · RS bench -6.5% · 1Y -4.6%1 of 12 weeks ahead 100% evidence
Exact sum: 14.6 + 17.4 + 11.6 + 1.5 = 45.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
24Aurobindo Pharma LtdAUROPHARMA 44.8/100Mixed-negative evidence100% evidence LEADER 16.5/35 Revenue 9.1% · PAT 9.5% · OPM change 1 pp 100% evidence 12.3/25 ROCE 12.9% · OPM 21% 100% evidence 4.8/20 P/E 25.6× · PEG 2.67 100% evidence 11.2/20 RS sector -1.3% · RS bench 26.9% · 1Y 60.9%10 of 12 weeks ahead 100% evidence
Exact sum: 16.5 + 12.3 + 4.8 + 11.2 = 44.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
25Sun Pharmaceutical Industries LtdSUNPHARMA 44.2/100Mixed-negative evidence100% evidence TURNING 16.9/35 Revenue 11.4% · PAT 16.5% · OPM change -2 pp 100% evidence 17.3/25 ROCE 20.5% · OPM 29% 100% evidence 4.3/20 P/E 35× · PEG 3.8 100% evidence 5.7/20 RS sector -19.4% · RS bench 4.7% · 1Y 15.5%6 of 12 weeks ahead 100% evidence
Exact sum: 16.9 + 17.3 + 4.3 + 5.7 = 44.2 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
26Kilitch Drugs (India) LtdKILITCH 44.1/100Mixed-negative evidence87% evidence FADING 13.9/35 Revenue 14% · PAT 9.3% · OPM change -1 pp 95% evidence 9.2/25 ROCE 13.4% · OPM 6.5% 95% evidence 14.2/20 P/E 21.6× · PEG — 50% evidence 6.8/20 RS sector -15.6% · RS bench 10% · 1Y 0.6%8 of 12 weeks ahead 100% evidence
Exact sum: 13.9 + 9.2 + 14.2 + 6.8 = 44.1 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
27Gufic BioSciences LtdGUFICBIO 44.0/100Mixed-negative evidence94% evidence BREAKING OUT 23.1/35 Revenue 16.6% · PAT 17.7% · OPM change 3 pp 100% evidence 9.8/25 ROCE 12.3% · OPM 18% 100% evidence 2.3/20 P/E 58× · PEG 4.78 100% evidence 8.8/20 RS sector -18.4% · RS bench 26.1% · 1Y 19.2%11 of 11 weeks ahead 70% evidence
Exact sum: 23.1 + 9.8 + 2.3 + 8.8 = 44 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
28Alembic Pharmaceuticals LtdAPLLTD 43.7/100Mixed-negative evidence94% evidence BREAKING OUT 16.4/35 Revenue 14.1% · PAT 14.6% · OPM change -1 pp 100% evidence 8.4/25 ROCE 12.6% · OPM 15% 100% evidence 12.5/20 P/E 21.4× · PEG 1.74 100% evidence 6.4/20 RS sector -24.1% · RS bench 1.5% · 1Y -14.3%4 of 11 weeks ahead 70% evidence
Exact sum: 16.4 + 8.4 + 12.5 + 6.4 = 43.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
29Amrutanjan Health Care LtdAMRUTANJAN 43.2/100Mixed-negative evidence87% evidence BASING 13.2/35 Revenue 10.7% · PAT -1.1% · OPM change -2.9 pp 95% evidence 14.9/25 ROCE 24.8% · OPM 6.1% 95% evidence 14.3/20 P/E 22.8× · PEG — 50% evidence 0.8/20 RS sector -37.2% · RS bench -17% · 1Y -36.1%0 of 12 weeks ahead 100% evidence
Exact sum: 13.2 + 14.9 + 14.3 + 0.8 = 43.2 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
30Mankind Pharma LtdMANKIND 42.9/100Mixed-negative evidence100% evidence BASING 16.8/35 Revenue 14.2% · PAT 8% · OPM change 2 pp 100% evidence 13.8/25 ROCE 13.5% · OPM 26% 100% evidence 8.2/20 P/E 44.2× · PEG 2.81 100% evidence 4.1/20 RS sector -22.9% · RS bench 0.4% · 1Y -10.6%6 of 12 weeks ahead 100% evidence
Exact sum: 16.8 + 13.8 + 8.2 + 4.1 = 42.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
31FDC LtdFDC 41.9/100Mixed-negative evidence94% evidence ASLEEP 12.8/35 Revenue 3.5% · PAT 8.2% · OPM change -1 pp 100% evidence 12.9/25 ROCE 15.4% · OPM 21% 100% evidence 11.9/20 P/E 18× · PEG 2 100% evidence 4.3/20 RS sector -25.1% · RS bench -11.7% · 1Y -27.5%4 of 10 weeks ahead 70% evidence
Exact sum: 12.8 + 12.9 + 11.9 + 4.3 = 41.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
32Indoco Remedies LtdINDOCO 40.7/100Thin evidence · provisional58% evidence TURNING 20.2/35 Revenue 11.9% · PAT 100% · OPM change 5 pp 71% evidence 4.4/25 ROCE 1% · OPM 9% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 6.1/20 RS sector -32.2% · RS bench 14.2% · 1Y -3.8%7 of 10 weeks ahead 70% evidence
Exact sum: 20.2 + 4.4 + 10 + 6.1 = 40.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
33Zim Laboratories LtdZIMLAB 39.9/100Mixed-negative evidence79% evidence LEADER 9.6/35 Revenue 7.5% · PAT -60.6% · OPM change -3.3 pp 71% evidence 6.1/25 ROCE 4.8% · OPM 2.6% 95% evidence 5.8/20 P/E 202× · PEG — 50% evidence 18.4/20 RS sector 25.7% · RS bench 59.5% · 1Y 87.3%11 of 12 weeks ahead 100% evidence
Exact sum: 9.6 + 6.1 + 5.8 + 18.4 = 39.9 · Decision use: Price leads the evidence: RS versus the benchmark is 59.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
34Torrent Pharmaceuticals LtdTORNTPHARM 39.8/100Mixed-negative evidence100% evidence BREAKING OUT 16.6/35 Revenue 32.9% · PAT 7.7% · OPM change 2 pp 100% evidence 14.2/25 ROCE 15.2% · OPM 34% 100% evidence 0.8/20 P/E 84.6× · PEG 5.11 100% evidence 8.2/20 RS sector -7.4% · RS bench 19.5% · 1Y 39%10 of 12 weeks ahead 100% evidence
Exact sum: 16.6 + 14.2 + 0.8 + 8.2 = 39.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
35Bafna Pharmaceuticals LtdBAFNAPH 39.8/100Mixed-negative evidence60% evidence TURNING 11.5/35 Revenue -3.1% · PAT -5.8% · OPM change -11.3 pp 95% evidence 7.3/25 ROCE 11.9% · OPM 3.4% 76% evidence 8.7/20 P/E 91.5× · PEG — 15% evidence 12.3/20 RS sector — · RS bench 84.4% · 1Y —3 of 3 weeks ahead 25% evidence
Exact sum: 11.5 + 7.3 + 8.7 + 12.3 = 39.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
36Bajaj Healthcare LtdBAJAJHCARE 37.8/100Mixed-negative evidence87% evidence BREAKING OUT 9.8/35 Revenue 12.3% · PAT -59.1% · OPM change 1 pp 95% evidence 10.3/25 ROCE 11.5% · OPM 17% 95% evidence 11.9/20 P/E 20× · PEG — 50% evidence 5.8/20 RS sector -29.8% · RS bench -7.1% · 1Y -22.5%5 of 12 weeks ahead 100% evidence
Exact sum: 9.8 + 10.3 + 11.9 + 5.8 = 37.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
37Natco Pharma LtdNATCOPHARM 37.3/100Mixed-negative evidence100% evidence ASLEEP 3.0/35 Revenue -20.8% · PAT -32.5% · OPM change -18 pp 100% evidence 14.1/25 ROCE 17.4% · OPM 25% 100% evidence 19.1/20 P/E 12.8× · PEG 0.76 100% evidence 1.1/20 RS sector -31.6% · RS bench -10.9% · 1Y -4.4%0 of 12 weeks ahead 100% evidence
Exact sum: 3 + 14.1 + 19.1 + 1.1 = 37.3 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
38Biocon LtdBIOCON 36.2/100Mixed-negative evidence100% evidence ASLEEP 13.3/35 Revenue 9.8% · PAT -36.4% · OPM change 1 pp 100% evidence 7.7/25 ROCE 3.6% · OPM 20% 100% evidence 11.5/20 P/E 87.5× · PEG 0.82 100% evidence 3.7/20 RS sector -22.1% · RS bench 1.3% · 1Y 7.4%6 of 12 weeks ahead 100% evidence
Exact sum: 13.3 + 7.7 + 11.5 + 3.7 = 36.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
39Bharat Parenterals LtdBPLPHARMA 35.8/100Thin evidence · provisional58% evidence 12.3/35 Revenue -11.2% · PAT 16% · OPM change -2.8 pp 71% evidence 4.1/25 ROCE -1.9% · OPM 9.1% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 9.4/20 RS sector -12.8% · RS bench 24.2% · 1Y 10.6%1 of 12 weeks ahead 70% evidence
Exact sum: 12.3 + 4.1 + 10 + 9.4 = 35.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
40Cipla LtdCIPLA 32.6/100Adverse evidence100% evidence BASING 4.6/35 Revenue 1.8% · PAT -37.7% · OPM change -9 pp 100% evidence 12.3/25 ROCE 15.5% · OPM 17% 100% evidence 12.0/20 P/E 30.8× · PEG 1.25 100% evidence 3.7/20 RS sector -25.3% · RS bench -2.3% · 1Y -12.1%5 of 12 weeks ahead 100% evidence
Exact sum: 4.6 + 12.3 + 12 + 3.7 = 32.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
41Dr Reddys Laboratories LtdDRREDDY 30.1/100Adverse evidence100% evidence BASING 3.7/35 Revenue -0.9% · PAT -44.6% · OPM change -14 pp 100% evidence 11.7/25 ROCE 13% · OPM 11% 100% evidence 13.3/20 P/E 30.2× · PEG 1.15 100% evidence 1.4/20 RS sector -28% · RS bench -5.9% · 1Y -8.1%1 of 12 weeks ahead 100% evidence
Exact sum: 3.7 + 11.7 + 13.3 + 1.4 = 30.1 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
42Influx Healthtech LtdINFLUX 59.8/100Thin evidence · provisional50% evidence TURNING 19.3/35 Revenue — · PAT — · OPM change -1 pp 26% evidence 20.8/25 ROCE 40% · OPM 19% 95% evidence 10.3/20 P/E 30.5× · PEG — 15% evidence 9.4/20 RS sector -9.8% · RS bench 16% · 1Y 43.4%10 of 12 weeks ahead 70% evidence
Exact sum: 19.3 + 20.8 + 10.3 + 9.4 = 59.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
43Syncom Healthcare LtdSYNCOM 49.7/100Thin evidence · provisional31% evidence 17.1/35 Revenue -69.4% · PAT 63.5% · OPM change — 16% evidence 6.9/25 ROCE -20.2% · OPM -225.7% 46% evidence 10.0/20 P/E — · PEG — 0% evidence 15.7/20 RS sector 29.1% · RS bench 45.7% · 1Y —9 of 12 weeks ahead to 2021-06-30 70% evidence
Exact sum: 17.1 + 6.9 + 10 + 15.7 = 49.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
44Sai Parenterals LtdSAIPARENT 37.4/100Thin evidence · provisional38% evidence ASLEEP 13.7/35 Revenue — · PAT — · OPM change -1 pp 32% evidence 5.1/25 ROCE 5.3% · OPM 13.2% 95% evidence 8.6/20 P/E 111× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —6 of 9 weeks ahead 0% evidence
Exact sum: 13.7 + 5.1 + 8.6 + 10 = 37.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

16 · Frequently asked questions

Frequently asked questions

What is Fredun Pharmaceuticals Ltd's share price today?

Fredun Pharmaceuticals Ltd trades at ₹1,414, +16.6% over the past year. The company is valued at ₹2,336 Cr. The stock sits at 57% of its 52-week range of ₹729–₹1,923, +64.1% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 63 weeks in. — as of 11 September 2026.

What were Fredun Pharmaceuticals Ltd's latest quarterly results?

Fredun Pharmaceuticals Ltd reported revenue of ₹228 Cr and net profit of ₹13.0 Cr for the Jun 26 quarter. Revenue rose 90.0% and profit rose 85.7% year on year. Earnings per share were ₹7.96. The operating margin was 14.0%, 0.0 pp higher than a year earlier. — as of 11 September 2026.

What is Fredun Pharmaceuticals Ltd's revenue?

Fredun Pharmaceuticals Ltd reported revenue of ₹228 Cr in the Jun 26 quarter, +90.0% year on year. For the full FY26 fiscal year, revenue was ₹635 Cr (+39.9%). Over the last 10 years revenue compounded at 31.2% a year. — as of 11 September 2026.

What is Fredun Pharmaceuticals Ltd's profit?

Fredun Pharmaceuticals Ltd earned ₹13.0 Cr of net profit in the Jun 26 quarter, +85.7% year on year — the 3rd straight quarter of growth. Full-year FY26 profit was ₹33.0 Cr. The operating margin ran 14.0% in the latest quarter. — as of 11 September 2026.

What is Fredun Pharmaceuticals Ltd's market cap?

Fredun Pharmaceuticals Ltd's market capitalisation is ₹2,336 Cr at a share price of ₹1,414. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.

What is Fredun Pharmaceuticals Ltd's P/E ratio?

Fredun Pharmaceuticals Ltd trades at a P/E of 53.3×, at the 98th percentile of its own 10-year range, against a long-run median of 31.4×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.

Does Fredun Pharmaceuticals Ltd pay a dividend?

Yes — Fredun Pharmaceuticals Ltd's dividend payout was 1% of profit in FY26, and it recorded a payout in 11 of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.

Is Fredun Pharmaceuticals Ltd overvalued?

On its own history, Fredun Pharmaceuticals Ltd looks expensive: its P/E of 53.3× sits at the 98th percentile of its 10-year range (long-run median 31.4×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 11 September 2026.

Is Fredun Pharmaceuticals Ltd growing?

Yes — Fredun Pharmaceuticals Ltd is growing: latest-quarter revenue +90.0% year on year, profit +85.7%, and the margin +0.0 pp at 14.0%. The 10-year compound rates are 31.2% (revenue) and 41.9% (profit). The earnings engine currently reads: improving — as of 11 September 2026.

How is Fredun Pharmaceuticals Ltd performing?

Fredun Pharmaceuticals Ltd is in a confirmed uptrend, 63 weeks in. Its latest quarter's revenue rose 90.0% and profit rose 85.7% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 4 weeks. This describes what the data did, not a rating. — as of 11 September 2026.

What stage is Fredun Pharmaceuticals Ltd in?

Turning around — EPS growth swung from −28.1% at the trough to +36.4%, a 3-quarter improving streak, ROCE lifting at 21.0%. The read comes from the last 12 quarters of growth (revenue growth +91.5% latest, profit growth +138.9% latest, eps growth +36.4% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.

Is Fredun Pharmaceuticals Ltd in an uptrend?

Yes — the price is in a confirmed uptrend (week 63 of stage 2), trading +64.1% versus its 200-day average and at 57% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.

Is Fredun Pharmaceuticals Ltd beating the market?

Not lately — on a trailing-13-week view Fredun Pharmaceuticals Ltd is currently behind the NIFTY 500 (4 weeks and counting; last ahead the week of 2026-08-14), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +11,208% against the NIFTY 500's +259% — ahead of the index over the full window. — as of 11 September 2026.

Will Fredun Pharmaceuticals Ltd's share price go up?

This page publishes no price forecast for Fredun Pharmaceuticals Ltd. What it measures instead: the share price is ₹1,414, the price is in a confirmed uptrend 63 weeks in. Its P/E of 53.3× sits at the 98th percentile of its own 10-year range. — as of 11 September 2026.

Who owns Fredun Pharmaceuticals Ltd?

Promoters hold 44.6% of Fredun Pharmaceuticals Ltd, foreign institutions 1.1%, domestic institutions 2.9% and the public 51.4% (latest quarter). The biggest move on the register over the last two years: Promoters cut 4.4 points over 8 quarters. — as of 11 September 2026.

Does Fredun Pharmaceuticals Ltd have too much debt?

It is moderate — Fredun Pharmaceuticals Ltd's debt-to-equity is 0.80, and operating profit covers the interest bill 2×. FY26 borrowings were ₹222 Cr against equity of ₹278 Cr. Read the returns on this page with that leverage in mind — as of 11 September 2026.

What is Fredun Pharmaceuticals Ltd's capex?

Fredun Pharmaceuticals Ltd spent ₹96.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹73.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.

What is Fredun Pharmaceuticals Ltd's cash flow?

Fredun Pharmaceuticals Ltd generated ₹12.0 Cr of operating cash flow in FY26 and ₹−61.0 Cr of free cash flow after ₹73.0 Cr of capital spending. Reported profit that year was ₹33.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 11 September 2026.

Is Fredun Pharmaceuticals Ltd's profit real cash?

No — operating cash was negative over the last 3 fiscal years: Fredun Pharmaceuticals Ltd consumed cash while reporting profit. In FY26, operating cash was ₹12.0 Cr against reported profit of ₹33.0 Cr. Cash-flow resolution is annual — as of 11 September 2026.

Where is Fredun Pharmaceuticals Ltd in its business cycle?

Fredun Pharmaceuticals Ltd's FY26 operating margin was 14.0%, against a 13-year band of 6.0%–14.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 14.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.

What growth does Fredun Pharmaceuticals Ltd's price assume?

At its price on 13 June 2026, Fredun Pharmaceuticals Ltd was priced for profit growth of about 14.8% a year. Profit itself has compounded 41.9% a year over the past 10 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.

What could break the Fredun Pharmaceuticals Ltd story?

The sharpest disagreement: profits are rising, but only −7% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.

Is Fredun Pharmaceuticals Ltd a stock worth studying right now?

This is not investment advice. The machine read: Fredun Pharmaceuticals Ltd's earnings have outrun its stock. EPS grew +43.1% in a year against a +16.6% price move. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.

Sector Alpha — machine-written from the numbers · Data as of 2026-09-11. Every chart on this page is drawn by deterministic code from the raw series — no forecasts, no price opinions, and nothing here is investment advice.

Not SEBI Registered !! Not Investment advice !!

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