Granules India’s Net Profit rises by 34% to Rs. 39 Cr.

Hyderabad, January 28, 2017: Granules India Ltd., a growing pharmaceutical company, announced today financial results for its third quarter ended 31st December, 2016.

Granules India’s Net Profit rises by 34% to Rs. 39 Cr.

Consolidated Q3FY17 Financial Results Highlights:- 

Ø Revenue: Rs. 359 Cr., an increase of 11% compared to Rs. 325 Cr. in Q3FY16

Ø EBITDA: Rs. 81 Cr., an increase of 21% compared to Rs. 67 Cr. in Q3FY16

Ø Operating Margin improved by 189 basis point to 22.4% from 20.5% in Q3FY16

Ø Net Profit: Rs. 39 Cr., an increase of 34% compared to Rs. 29 Cr. in Q3FY16

Ø Net Profit Margin improved by 188 basis point to 10.9% from 9.0% in Q3FY16

The Company’s standalone sales during the quarter were Rs. 337 Cr. In this quarter the Company recorded EBITDA and PAT of Rs. 79 Cr. and Rs. 35 Cr. respectively.

The Company’s Board of Directors has approved third interim dividend of 25 paise per share of face value of Rs. 1 each for the financial year 2016-17.

“We are happy with the continued bottom-line growth in the third quarter of the current fiscal, thanks to our 'efficiency ecosystem' and growing profitability from our joint venture companies. To reinforce top-line growth momentum for the future, we are aggressively pursuing completion of our API and PFI expansion plans and introduction of new products following appropriate fillings strategy. During the quarter, we had two inspections in our Gagillapur facility from US FDA and INFARMED and one in our joint venture facility at Vizag from US FDA. The Gagillapur facility completed the US FDA inspection with no observations. For the observations issued by INFARMED for Gagillapur and US FDA for Vizag, we have submitted our response to the respective regulatory authorities within stipulated time and are hopeful of getting positive response soon. We remain committed towards adhering to regulations and standards benchmarked globally and produce quality drugs for our marquee clients." said Mr. Krishna Prasad Chigurupati, Chairman & Managing Director.

About Granules India Ltd.

 (BSE: 532482, NSE: GRANULES)

Granules is a fast growing pharmaceutical manufacturing company with world class facilities and is committed to manufacturing excellence, quality and customer service. The Company produces Finished Dosages (FDs), Pharmaceutical Formulation Intermediates (PFIs) and Active Pharmaceutical Ingredients (APIs) for quality conscious customers in the regulated and semi-regulated markets. Granules support customers with unique value, extensive product range, proactive solutions and a global network of associates. The Company’s global presence extends to over 300 customers in 60 countries through offices in India, U.S., U.K., China and Colombia. Granules offer all three components of the pharmaceutical value chain which gives the customers flexibility and choice.

The Company has its own ANDAs and dossiers which enable customers to quickly enter a market instead of filing their own applications. Granules has a highly skilled regulatory affairs department that can offer customers support and can help them navigate through regulatory issues.