Granules

Granules India is a pharmaceutical company manufacturing value chain from active pharmaceutical ingredients (API) to pharmaceutical formulation intermediates (PFI) to finished dosages (FD) manufacturing. Markets of North America and Europe account for 60% of overall revenue, while the balance comes from quality conscious customers in Latin America, India and ROW countries.

During Q3FY17, its consolidated revenue grew by about 11% (YoY) to Rs. 357 crore. EBITDA was up 21% at Rs.81 crore and net profit was at Rs.39 crore, up 34%.

EBITDA margin improved by 189 basis points to 22.4% and PAT margin was at 10.87%, an increase of 188 basis points compared to the first nine months of FY16. In third quarter, API segment contributed 37% of the revenues, PFI 29% and finished dosages 35%.

On a consolidated basis its total debt as on 31st December, 2016 was Rs. 681 crore. Out of this long-term loans were Rs. 219 crore and working capital loans were Rs. 462 crore.

The expansion of the API and PFI capacity is in progress and is expected to be completed by April.

The stock price was in news recently after it announced that it has successfully completed re-inspection of the company's facility in Telangana by a Portugal agency. In January, the company had got 11 observations from Infarmed, the Portuguese drug regulator, for this very facility and after re-examination, it was given the go ahead.