Author: Sutun Nayak

Mumbai (Maharashtra) [India], May 26: Fredun Pharmaceuticals Limited (BSE – FREDUN | 539730), one of the leading pharmaceutical formulation manufacturing companies in India, diversified across generics, cosmeceuticals, nutraceuticals, mobility, and animal healthcare products, has announced a 2:1 bonus issue of equity shares, underscoring its strong financial performance and continued confidence in future growth.

The Board of Directors, at its meeting held on May 25, 2026, wherein the audited financial results for Q4 and FY26 were approved, has recommended the issuance of bonus shares in the ratio of 2:1, i.e. 2 fully paid-up equity shares of ₹10 each for every 1 existing equity share of ₹10 each, to eligible shareholders and warrant holders as on the record date, subject to shareholder approval.

The bonus issue reflects Fredun’s strategic intent to:

• Reward shareholders for their sustained confidence and long-term commitment to the Company’s growth vision 
• Signal management’s confidence in the structural earnings growth and long-term scalability of the business 

With multiple high-growth engines firmly in place — including branded generic exports to 52 countries, domestic Fredun Gx formulations, an integrated pet healthcare platform (Freossi, Wagr and One Pet Stop), nutraceuticals, and cosmeceuticals (Bird N Beauty) — the Company is well-positioned to sustain its growth trajectory. The inauguration of its 5th GMP-certified manufacturing facility in April 2026 provides significant capacity headroom to support the next phase of scaling across all verticals.

This move not only aligns with the company’s consistent value creation philosophy but also reinforces its commitment to delivering long-term, inclusive wealth creation for shareholders.

Commenting on the update, Mr. Fredun Medhora, Managing Director, said, “The recommendation of a 2:1 bonus issue reflects the strong momentum we have built and our confidence in sustaining this growth trajectory. With robust performance across revenue and profitability, and continued progress in diversifying into higher-value segments such as nutraceuticals, cosmeceuticals, and pet healthcare, we are strengthening the quality and scalability of our business. This bonus is a way of sharing our progress with shareholders while reinforcing our commitment to consistent, long-term value creation.”

About Fredun Pharmaceuticals Limited

Fredun Pharmaceuticals Limited, a healthcare and pharmaceuticals company, offers a range of products, including antihypertensives, antidiabetics, antiretroviral drugs (ARVs), and narcotics. It is also engaged in the manufacturing of dietary/herbal supplements, nutraceuticals, cosmeceuticals, and other healthcare products, along with animal healthcare products. With such a diverse range of products, the Company’s objective is to be a holistic healthcare provider. The Company primarily exports its products to Africa, Southeast Asia, Commonwealth of Independent States (CIS) countries, and Latin America. 

In FY26, Fredun reported total revenues of ₹639.12 Cr, with an EBITDA of ₹94.79 Cr and a PAT of ₹33.21 Cr.

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Suraj Mahant of Feastary Hospitality LLP; Prashant and Pranay Mukherjee, Directors, Bistro Hospitality and Universal Success Enterprises Ltd; Kuunal Maiti, CEO TGI Fridays India

New Delhi [India], May 26: TGI Fridays®, the globally renowned American casual dining brand, has unveiled its newest flagship restaurant at the landmark Connaught Place in New Delhi. The restaurant marks another significant milestone in the brand’s India growth story and has been launched by Bistro Hospitality Pvt. Ltd., the master franchisee for TGI Fridays® in India, along with its North India franchise partner Feastary Hospitality LLP.

Present across more than 40 countries, TGI Fridays continues to bring together bold American flavours, handcrafted cocktails, vibrant energy, and its signature hospitality-driven experience for guests around the world. The Connaught Place flagship reflects the brand’s continued focus on elevating experiential dining in India’s leading metropolitan and lifestyle destinations.

The opening forms part of TGI Fridays’ ambitious expansion strategy for India, aimed at strengthening its footprint in premium urban markets while creating globally aligned dining experiences tailored for the evolving Indian consumer.

“Over the last year, our focus has been on strategically reviving and repositioning TGI Fridays in India by aligning the brand closer to its global identity while adapting it to the preferences of today’s consumers. From flagship destinations and refreshed restaurant formats to stronger operational partnerships and experience-led dining, every step has been driven by a long-term vision for sustainable growth and brand relevance in the Indian market,” said Prashant Mukherjee, Director, Bistro Hospitality and Universal Success Enterprises Ltd.

The launch evening witnessed the presence of distinguished guests, members of the media, and food and lifestyle influencers, celebrating not just the opening of a new restaurant, but the arrival of a vibrant social and dining destination in the heart of Delhi.

“TGI Fridays currently operates restaurants in Kolkata, Hyderabad, Lucknow, Gurgaon, and now at Connaught Place, with another outlet at Vasant Kunj set to open shortly. This expansion will double the store count from three to six within a span of 12 months. Several additional locations are already being planned, underscoring the brand’s continued expansion and long-term commitment to the Indian market,” said Kuunal Maiti, CEO, Bistro Hospitality Pvt. Ltd.

Speaking on the North India growth roadmap, Suraj Mahant of Feastary Hospitality LLP said, “When we launched in Gurugram, we had outlined a clear vision for North India. Connaught Place marks another key milestone in that journey. This flagship restaurant further strengthens the brand’s presence in the region while laying the foundation for sustained expansion across important northern markets.”

The launch further reinforces the partnership between Bistro Hospitality Pvt. Ltd. and Feastary Hospitality LLP, with multiple future openings planned as part of a phased expansion strategy focused on sustainable growth and operational excellence.

About TGI FRIDAYS®

Founded in New York City in 1965, TGI Fridays is one of the world’s most recognised casual dining brands, celebrated for its bold American cuisine, handcrafted beverages, and energetic social dining experience. In India, the brand’s expansion is led by Bistro Hospitality Pvt. Ltd. through a structured franchise and partnership-led model that maintains global brand standards while adapting to regional preferences.

Feastary Hospitality LLP is the exclusive franchise partner for North India and is responsible for driving the brand’s growth and operations across key markets in the region.

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Chennai (Tamil Nadu) [India], May 26: Khazanchi Jewellers Limited (BSE: 543953), one of the leading Indian jewellery companies specializing in gold, diamonds, precious stones, and bullion items, has announced its unaudited Financial Results for H2 FY26 & FY26.

Key Financial Highlights

FY26 Financial Highlights

• Total Revenue of ₹ 2,051.02 Cr, YoY growth of 15.71%
• EBITDA of ₹ 126.99 Cr, YoY growth of 95.69%
• EBITDA Margin of 6.19%, YoY expansion of 253 Bps
• PAT of ₹ 89.42 Cr, YoY growth of 98.87%
• PAT Margin of 4.36%, YoY expansion of 182 Bps
• EPS of ₹ 36.10, YoY growth of 98.57%

H2 FY26 Financial Highlights

• Total Revenue of ₹ 1,098.26 Cr, YoY growth of 8.10%
• EBITDA of ₹ 73.21 Cr, YoY growth of 102.79%
• EBITDA Margin of 6.67%, YoY expansion of 312 Bps
• PAT of ₹ 50.72 Cr, YoY growth of 103.60%
• PAT Margin of 4.62%, YoY expansion of 217 Bps
• EPS of ₹ 20.46, YoY growth of 103.18%

Results Analysis

“FY26 has been a defining year for us, where scale, execution, and strategic investments have started reflecting more meaningfully in our financial performance. The second half of the year, in particular, saw strong traction driven by festive and wedding demand, improved product mix, and better operating leverage.

Over the year, we have focused on building a more resilient and value-driven business by maintaining disciplined control over inventory and costs, while continuing to scale both our wholesale and retail segments. Our wholesale business remains a strong foundation, delivering consistent volume-led growth. At the same time, our B2C operations are gaining momentum with a strengthened presence and increasing contribution to the overall business mix. The growing contributions of B2C business coupled with better realizations, has further supported margin expansion and improved profitability during the year.

As we move forward, our focus will remain on scaling our retail footprint, deepening our design-led offerings, and driving efficiency across the value chain, enabling us to deliver sustainable and profitable growth.”

Key Operational Highlights

About Khazanchi Jewellers Limited

Khazanchi Jewellers, with over five decades of experience and located in Tamil Nadu, holds a significant position in the Indian jewellery sector. The company serves as a pivotal player in both wholesale and retail markets, specializing in a wide array of jewellery products. Offerings range from gold, diamonds, and precious stones to exquisite fancy jewellery, encompassing sought-after bullion items like coins and bars. Their business model involves raw material procurement, manufacturing and designing, the placement of products, and sales to end customers.

In FY26, the company reported Total Revenue of ₹ 2,051.02 Cr, EBITDA of ₹ 126.99 Cr, and PAT of ₹ 89.42 Cr.

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Visakhapatnam (Andhra Pradesh) [India], May 26: Steel Exchange India Limited (NSE: STEELXIND, BSE: 534748), one of the leading integrated steel manufacturers in South India and a trusted name in TMT rebars under the brand ‘SIMHADRI TMT’, has reported its Audited financials for Q4 FY26 & FY26. 

Q4 FY26 Standalone Key Financial Highlights*

• Total Income of ₹287.70 Cr, QoQ growth of 19.45%
• EBITDA of ₹0.10 Cr, QoQ growth of 118.12%
• EBITDA Margin of 17.41%, QoQ growth of 788 Bps
• Net Profit of ₹ 12.37 Cr, QoQ growth of 442.80%
• Net Profit Margin of 4.30%, QoQ growth of 335 Bps

*Q3 FY26 Unaudited Figures

FY26 Standalone Key Financial Highlights

• Total Income of ₹ 1,066.42 Cr
• EBITDA of ₹ 138.03 Cr
• EBITDA Margin of 12.94%
• Net Profit of ₹ 26.99 Cr
• Net Profit Margin of 2.53%

Strengthening Leadership & Strategic Oversight:

• Board Strengthening: Mr. Anirudh Misra appointed as Additional Non-Executive & Non-Independent Director (subject to shareholder approval), a seasoned industry leader with extensive experience in metals, mining, and global commodities trade. As the Founder of IMR Group, he has built a globally recognized commodities trading and mining enterprise, driving international expansion, strategic growth, and large-scale business transformation across markets, bringing a strong global perspective and strategic depth to the Company.

• Leadership Enhancement: Appointment of Mr. Vankina Sri Rakesh as Chief Financial Officer (CFO) and Key Managerial Personnel, a seasoned finance professional with over four decades of experience, strengthening financial strategy and governance framework.

• Strengthened Financial Oversight: Mr. Suresh Kumar Bandi, Whole-Time Director designated as Joint Managing Director & Director, has been assigned additional responsibility for the finance function of the Company and will serve as “Whole-Time Director designated as Joint Managing Director & Director – Finance,” reinforcing leadership bandwidth and enhancing focus on financial discipline and capital management.

Commenting on the financial performance, the management of Steel Exchange India Limited said: “FY26 was an important year for Steel Exchange India Limited as we continued to strengthen our operational capabilities, improve financial flexibility, and build a stronger platform for long-term growth. During the year, we remained focused on improving efficiencies, optimizing product mix, and strengthening profitability across the business. We also made significant progress towards balance sheet strengthening through capital infusion, debt reduction, and improvement in our credit profile, which further enhances our growth potential going forward. 

At the same time, our planned expansion into specialty and green steel, along with logistics infrastructure development, reflects our long-term vision to strengthen our integrated steel platform and capture emerging opportunities across the sector. Going forward, we remain focused on disciplined execution, operational excellence, and sustainable growth.”

Recent Key Business Highlights

MES Approval Renewal

• Secured 5-year renewal of MES approval under the Ministry of Defence for TMT bar supplies.
• Reinforces eligibility for government and defence infrastructure projects.
• Strengthens presence in high-entry-barrier institutional infrastructure segments.

Capital Infusion and Strengthening

• Investment from India Coke and Power Private Limited and IMR Steel Private Limited
• (IMR Group) and other Investors
• Received ₹85 crore upfront via allotment of convertible warrants
• As Part of the ₹350 crore preferential issue approved by the Board
• 2.83 Cr existing warrants converted into equity shares post receipt of ~₹29.92 Cr

Debt Reduction 

• Redeemed ₹43.19 crore towards NCDs in a single tranche (~13% of total debt)
• Follows ₹24.97 crore repayment over last two quarters, taking total reduction to ~₹68.16 crore
• Repaid over 20% of long-term debt since October 2025, marking progress towards becoming debt-free in the near future

About Steel Exchange India Limited

Steel Exchange India Limited (SEIL), part of the Vizag Profiles Group, is a leading manufacturer of TMT rebars under the brand ‘SIMHADRI TMT’. Founded in 1999, the Company has grown from a steel trading and online platform into one of the most trusted integrated steel manufacturers in Andhra Pradesh and Telangana.

SEIL operates an Integrated Steel Plant & Power Unit in Vizianagaram Dist, Near Visakhapatnam.  These facilities house sponge iron, billet, rolling mill, and power generation capacities, enabling complete backward and forward integration for long steel production.

With a strong brand presence and supply track record to the Armed Forces and critical infrastructure projects, SEIL is known for quality and reliability. In line with the ‘Atmanirbhar Bharat’ vision, the Company is diversifying into specialty steels under the PLI scheme to support import substitution and expand its value-added offerings.

For FY26, the company has reported Total Income of ₹1,066.42 Cr, EBITDA of ₹138.03 Cr, and Net Profit of ₹26.99 Cr.

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Chennai (Tamil Nadu) [India], May 26: SEPC Limited (NSE: SEPC | BSE: 532945), a leading EPC player with strong execution capabilities across water & wastewater, infrastructure, and industrial segments, announced its unaudited financial results for Q4 and FY26, marking a year of robust operational progress.

 Key Financial Highlights

Q4 FY26 Consolidated Key Financial Highlights
 • Total Income of ₹ 288.95 Cr, YoY growth of 129.12%
 • EBITDA of ₹ 25.32 Cr, YoY growth of 7.30%
 • Net Profit of ₹ 13.73 Cr, YoY growth of 37.00%
 • Net Profit Margin of 4.75%, YoY decline of 320 Bps
 • Diluted EPS of ₹ 0.07, YoY growth of 16.67%

FY26 Consolidated Key Financial Highlights
 • Total Income of ₹ 1,085.84 Cr, YoY growth of 68.08%
 • EBITDA of ₹ 108.92 Cr, YoY growth of 10.09%
 • Net Profit of ₹ 53.54 Cr, YoY growth of 115.53%
 • Net Profit Margin of 4.93%, YoY growth of 109 Bps
 • Diluted EPS of ₹ 0.30, YoY growth of 87.50%

Commenting on the performance Mr. Venkataramani Jaiganesh, Managing Director of SEPC Limited, said: “FY26 has been a defining year for SEPC, marked by strong execution, disciplined delivery, and a clear strategic focus on scaling high-value opportunities. The robust growth in total income and the more than doubling of net profit reflect the strength of our operating model and our ability to consistently deliver across complex infrastructure projects.

During the year, we have made meaningful progress in diversifying our project portfolio across water and wastewater management, industrial infrastructure, and mining, while also strengthening our presence in both domestic and international markets. Our strategic acquisition initiatives further enhance our technical capabilities and expand our global footprint, positioning us to capture larger and more complex opportunities.

We continue to benefit from a favourable industry environment, supported by increased government spending on infrastructure, rising investments in water management, and a strong push towards sustainable development. This provides a multi-year visibility for growth, particularly in EPC segments where execution capability and scale are critical differentiators.

Our focus remains on improving project execution efficiency, optimizing cost structures, and selectively bidding for projects with better margin profiles. At the same time, we are strengthening our order book quality, which will support sustainable revenue growth and margin expansion going forward.

With a healthy pipeline, improved operational discipline, and a diversified business mix, we are confident of maintaining this growth momentum. SEPC is well-positioned to capitalize on emerging opportunities and deliver consistent value to all stakeholders in the years ahead.”

Key Business Highlights

About SEPC Limited

SEPC Limited (formerly Shriram EPC Limited) is a well-established EPC company offering turnkey solutions across Water & Wastewater, Roads, Industrial Infrastructure, and Mining sectors. The company specializes in the design, procurement, construction, and commissioning of large and complex infrastructure projects across India.

SEPC serves a wide range of clients, including Central and State Government agencies, and continues to play a key role in India’s infrastructure development.

In FY26, the Company delivered Total Income of ₹1,085.8 Cr, EBITDA of ₹108.9 Cr, and Net Profit of ₹53.5 Cr, against Total Income of ₹646.0 Cr in FY25, with Net Profit more than doubling over the previous year.

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Gurugram (Haryana) [India], May 26: Warivo Electric’s latest dealer meet felt less like a routine product event and more like the kind of gathering where a company quietly signals that it is preparing for a bigger league. More than 350 dealers from 19 states travelled to attend the event on 16th May 2026, where the company introduced four upcoming electric scooters: CRX High Speed, Majesty, Panzer, and Edge Sports. The atmosphere inside the venue carried equal parts excitement, curiosity, and business calculation. Dealers were not just looking at new launches; they were trying to understand where the brand sees itself over the next few years in India’s increasingly crowded EV market.

The Biggest Attraction: CRX High Speed

The biggest crowd naturally formed around the CRX High Speed. Even before the official presentation ended, dealers had already gathered around the scooter, checking the seating comfort, inspecting the design details, and discussing its positioning in the premium category. The scooter comes with a 75 km/h top speed, a TFT display, 42-liter boot space, and a long 830 mm seat aimed at improving comfort for daily riders.

What worked in its favour instantly was that it did not look built only for specification sheets. The design carried a sharper and more mature identity compared to many scooters currently fighting for attention in the market. Several dealers present at the event privately admitted they see stronger demand now for EVs that feel aspirational rather than merely economical.

That shift in customer thinking was a recurring conversation throughout the day. A few years ago, buyers entering the EV category mainly asked about range and pricing. Dealers now say customers walk in asking about styling, technology, comfort, and whether the product “feels premium enough” to replace their petrol scooter entirely. Warivo Electric appears to be responding directly to that shift.

Majesty, Panzer and Edge Sports Expand the Portfolio

Majesty and Panzer, the other two major launches of the evening, took a different route. Instead of sporty positioning, both scooters leaned heavily toward practicality, durability, and stronger road presence. Dealers from smaller cities seemed especially optimistic about these models, pointing out that reliability and sturdier construction still influence purchase decisions heavily outside metro markets.

Edge Sports, meanwhile, was clearly aimed at younger buyers a scooter built more around styling and everyday urban usage.

Beyond Product Launches: A Larger Business Push

But the launches were only one part of the larger picture.

Behind the stage presentations and product reveals, the event also carried an unmistakable business message: Warivo Electric is now pushing aggressively toward expansion.

Executives spent considerable time discussing dealership growth, service reach, and future manufacturing plans with partners attending the meet. The company intends to expand deeper into both urban and regional markets, while simultaneously strengthening after-sales infrastructure, an area that has become increasingly important as the EV sector matures.

One announcement that drew serious attention from dealers was the company’s plan to establish an in-house lithium battery manufacturing facility.

In India’s EV business today, battery sourcing has become one of the biggest long-term concerns for manufacturers. Delays, dependency on suppliers, and pricing fluctuations continue to affect operations across the industry. Dealers present at the event viewed Warivo’s localisation plans as a sign that the company is trying to build stronger operational control before scaling further.

The company also confirmed that work is underway on a metal-body electric scooter, which is expected to focus on durability and premium positioning.

Leadership Commentary

Speaking during the event, Chief Marketing Officer Yuvraj Garg said Warivo Electric recorded 2.5x growth during the previous financial year and is now targeting 500 dealerships across India.

“Warivo Electric has witnessed an impressive 2.5x growth in the last financial year, reflecting the strong trust and confidence our dealers and customers have shown in the brand. With an aggressive expansion strategy in place, we are now targeting 500 dealerships across India in the current financial year,” he said.

He added that the newly unveiled lineup is expected to strengthen the company’s position in the Indian EV market over the coming months.

Industry Outlook

What stood out most during the gathering, however, was not only the scale of the event but the confidence among the dealer network itself. Conversations throughout the venue suggested that the market has moved beyond asking whether electric vehicles are the future. For most businesses present there, that debate already feels over.

The real question now is which brands will survive the next phase when competition becomes sharper, margins tighter, and customers more demanding.

Warivo Electric, at least for now, appears determined to ensure it remains part of that conversation.