|₹957 / ₹351.2
Incorported in 1987 as a private limited company, Fredun Pharmaceuticals (FPL) was converted into a public limited company in Mar. '94. It was promoted by Nariman Medhora and Daulat N Medhora. The promoters initially established D N Pharma, a proprietory firm, for the manufacture and export of pharmaceutical formulations. The exports were mainly to Afghanistan and west Africa. Since 1993, D N Pharma's operations were phased out in order to switch over the business to FPL. FPL was set up with the objective of providing facilities for manufacturing and marketing of various pharmaceutical formulations like tablets, capsules, dry-syrups and ointments. It then set up a formulation unit at Palghar (Thane district), Maharashtra, which commenced commercial production in Aug.