Granules India Q1 Results Highlights: Net Profit Skyrockets 181% to ₹1,346 Crore

Granules India experienced a remarkable 181% rise in consolidated net profit for the quarter ending June 2024. The company posted a net profit of ₹1,346 crore for this quarter, a substantial increase from ₹479 crore in the corresponding quarter of the previous year.

Granules India Q1 Results Highlights

Granules India reported a significant 181% increase in consolidated net profit for the quarter ending in June 2024. During this quarter, the company achieved a net profit of ₹1,346 crore, significantly up from ₹479 crore in the same period the previous year.

By 2:02 pm IST, Granules India’s share price had risen by 3.5%, reaching ₹584.6 per share on the NSE, following a new 52-week high earlier in the day.

The company's revenue from operations was ₹11,799 crore, marking a 20% year-on-year increase from ₹9,855 crore. Additionally, the EBITDA margin improved by 600 basis points, rising from 14% to 22%.

The revenue contribution from North America surged to 74% in Q1 FY25, compared to 61% in Q1 FY24. During the quarter, Active Pharmaceuticals Ingredients (API), Pharmaceutical Formulation Intermediates (PFI), and Finished dosages accounted for 14%, 10%, and 76% of the revenue from operations, respectively.

Granules India’s net debt was reported at ₹7,94.1 crore, with a net debt to EBITDA ratio of 0.77x.

Granules India Management Commentary

CMD Krishna Prasad Chigurupati stated, “With our strong quarterly performance, we have returned to our planned growth trajectory after facing some setbacks last year. The Q1 results underscore our sustained growth in the formulation segment, robust North America business, and product diversification, which have mitigated the decline in Paracetamol API/PFI, setting the stage for a promising future driven by our formulation offerings and new product pipeline.”

About Granules India Ltd

Granules India Ltd (Granules) is a pharmaceutical manufacturing company specializing in active pharmaceutical ingredients (APIs), pharmaceutical formulation intermediates (PFIs), and finished dosages (FDs). The company produces Ibuprofen, Paracetamol, Metformin, Guaifenesin, and Methocarbamol, with top-tier facilities for API, PFI, and FD manufacturing.

With offices in India, the US, and the UK, Granules serves clients in over 80 countries worldwide, offering contract research and manufacturing services. The company’s major clients include generic and branded pharmaceutical companies. Granules is headquartered in Hyderabad, Telangana, India.