Fredun Pharmaceuticals Limited (FREDUN.BO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-205.7%

-₹1,527.82

vs ₹1,445.25 price

Levered DCF

-₹952.01

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	25.02×	16.43×	22.65×	32.21×	59.98×	91.79×	24.43×	36.67×
P/B	2.94×	2.33×	2.91×	3.61×	5.58×	4.29×	1.13×	4.2×
P/S	1.29×	0.73×	1.02×	1.27×	1.71×	1.41×	0.41×	1.7×
EV / EBITDA	10.87×	9.04×	12.14×	15.45×	28.44×	24.15×	9.81×	17.8×
Gross margin	26.6%	23.1%	20.5%	20.4%	16.9%	18.6%	22.8%	32.7%
Operating margin	13.1%	10.5%	9.9%	9.1%	5.3%	5.7%	5.7%	9.4%
Net margin	5.2%	4.4%	4.5%	3.9%	2.9%	1.5%	1.7%	4.6%
Current ratio	1.68×	1.33×	1.54×	1.55×	2.07×	1.5×	1.27×	1.36×
Debt / equity	0.87×	1.18×	0.87×	0.9×	0.89×	0.92×	0.96×	0.66×
Interest coverage	2.12×	2.12×	2.52×	2.69×	2.51×	1.8×	1.46×	2.92×
Dividend yield	0.0%	0.1%	0.1%	0.1%	0.1%	0.1%	2.2%	0.1%
Payout ratio	1.0%	1.7%	2.1%	2.9%	4.6%	13.1%	54.5%	5.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.7%	14.0%	12.9%	11.2%	9.3%	4.7%	4.6%	11.4%
Return on invested capital	10.9%	10.7%	10.7%	8.2%	6.6%	5.5%	5.9%	9.8%
Return on assets	5.1%	4.0%	5.1%	4.2%	3.4%	1.2%	1.3%	4.3%
Free cash flow yield	0.5%	-10.7%	-2.3%	-6.9%	-1.8%	-0.7%	-26.1%	-9.5%
Earnings yield	4.0%	6.0%	4.4%	3.1%	1.7%	1.1%	4.1%	2.7%
Enterprise value	₹9.9B	₹5B	₹4.6B	₹4.3B	₹4.4B	₹2.2B	₹835.8M	₹1.9B
Net debt / EBITDA	1.94×	3.03×	2.77×	2.99×	3.81×	4.17×	4.35×	2.36×
Cash conversion cycle (days)	197	243	217	198	123	142	145	107