Anglo-French Drugs & Industries Ltd

Indicative price history

Key highlights

• Incorporated 1923 in Bengaluru; Kanoria family owned since 1985; CIN L24230KA1923PLC010205, ISIN INE570E01016, face value ₹10.
• Sold vitamin, mineral and neurology brands to Lupin for ₹325 Cr (completed 7 April 2022); two buybacks since (2023 and 2024) cut the share count to about 11.3 lakh.
• FY25 net profit about ₹7.2 Cr on total income ₹118 Cr (core revenue ₹88 Cr, other income ₹30 Cr) after a ₹12.3 Cr FY24 loss; book value about ₹1,196 per share.
• No UnlistedZone price (₹0 shown); rate here is Planify's ₹1,075 (23 Jul 2026), wwipl last traded ₹1,078; implied market cap about ₹121 Cr, roughly 0.9x book.

About Anglo-French Drugs

Anglo-French Drugs & Industries Limited (AFDIL) is one of India's oldest pharmaceutical companies. Incorporated in Bengaluru on 1 February 1923 (CIN L24230KA1923PLC010205, RoC Bangalore), it manufactures and markets branded prescription and over-the-counter formulations — tablets, capsules, liquids and nutraceuticals — from its plant in the Peenya Industrial Area of Bengaluru, and sells through a domestic field force plus an export line that has shrunk sharply in recent years. The Kanoria group acquired control in 1985 and the family still runs the company: Abhay Kanoria is Chairman and his sons Uddhav and Nirbhay Kanoria are Managing Directors.

The business changed shape in 2022. On 18 January 2022 Lupin agreed to buy a portfolio of brands — vitamins, minerals, supplements and neurological products — from AFDIL, AFD Laboratories and Abhay Kanoria for a lump-sum ₹325 Cr; the acquisition completed on 7 April 2022. The company said the proceeds would fund R&D for newer brands and upgrade its manufacturing, but a large part has in practice gone into investments and two tender-offer buybacks: a letter of offer dated 28 July 2023 (promoter Abhay Kanoria tendering about 54% of the shares bought back) and a second proportionate buyback with record date 3 September 2024 in which the Abhay Kanoria Family Trust and Ninaad Finance participated. Dealer and registry pages consequently show falling share counts — 12.91 lakh, 12.34 lakh and now about 11.27–11.30 lakh shares of ₹10.

Financially, FY25 (year to 31 March 2025) marked a return to profit: core revenue fell about 7.8% to roughly ₹88 Cr from ₹95 Cr, but other income jumped to about ₹30 Cr (from ₹4.5 Cr) on investment gains, lifting total income about 18% to ₹118 Cr and producing a pre-tax profit near ₹8 Cr and a net profit of about ₹7.2 Cr against a ₹12.3 Cr loss in FY24. Total borrowings roughly doubled to about ₹19 Cr, the buyback absorbed about ₹53 Cr, and a ₹7.52 Cr related-party loan to Dormirbien Pvt Ltd drew governance criticism from dealer research. The March 2025 quarter itself was a small standalone loss of ₹0.44 Cr. UnlistedZone's data card shows a book value of ₹1,195.84 per share, i.e. a net worth near ₹135 Cr on 11.3 lakh shares.

The shares are formally listed on the Metropolitan Stock Exchange of India (MSEI) under ISIN INE570E01016, but have not traded there for at least three financial years, so liquidity exists only in the off-market dealer segment. A 2025-26 annual report has been filed with MSEI; the board now comprises Abhay Kanoria (Chairman), Uddhav and Nirbhay Kanoria (Managing Directors), independent directors Rani Shokeen, Srinivasan Krishnan and Pradeep Vasantarao Joshi, and Ganesh Ramgopalji Pallod, who joined as a non-executive director on 11 August 2025 when Rohit Choraria stepped down (3 September 2025).

Rate and valuation: the user-supplied UnlistedZone page shows an indicative price of ₹0 and no price history, so no UnlistedZone rate could be used. The board rate here is Planify's ₹1,075 per share (23 July 2026, the most recent dealer quote); wwipl shows a last traded ₹1,078 with a 52-week range of ₹1,050 (24 Nov 2025) to ₹1,078 (16 Mar 2026). At ₹1,075 on about 11.27 lakh shares the implied market capitalisation is roughly ₹121 Cr — about 0.9 times book value (₹1,196 per share) and about 17 times FY25 earnings, most of which came from treasury income rather than the pharma business.

Verification status (10 Oct 2026): CIN, incorporation date, ISIN, face value, MSEI listing, the Lupin deal (₹325 Cr, Jan–Apr 2022), the 2023 and 2024 buybacks and the current board are from Tofler, SEBI/MSEI filing snippets, Lupin press releases and the FY2025-26 annual-report index. FY24 and FY25 revenue, other income, profit, borrowings and the buyback outlay are from Planify's analysis of the filed results (not read directly). The share count (11.27 lakh) and book value are dealer-card figures; expense lines, depreciation, tax, balance-sheet composition, cash flows, headcount and the promoter percentage are estimates. No annual report could be downloaded in this session.

Where the revenue comes from

• Domestic branded formulations80%

  Prescription and OTC tablets, capsules, liquids and nutraceuticals sold through the company's field force (estimate; core revenue about ₹88 Cr in FY25)

• Exports & contract supply10%

  Export formulations — fell sharply in FY25 (estimate)

• Treasury & other income10%

  Investment gains on Lupin-sale proceeds; about ₹30 Cr other income in FY25 (shown as share of total income)

Products & services