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Granules India’s Net Profit surges by 26% to Rs. 41 Cr.

Mumbai, October 25, 2016: Granules India Ltd., a fast growing pharmaceutical manufacturing company, announced today financial results for its second quarter ended 30th September, 2016.

Granules India’s Net Profit surges by 26% to Rs. 41 Cr.

Consolidated Q2FY17 Financial Results Highlights:-

Ø  Revenue: Rs. 364 Cr., an increase of 3% compared to Rs. 353 Cr. in Q2FY16
Ø  EBITDA: Rs. 78 Cr., an increase of 12% compared to Rs. 69 Cr. in Q2FY16
Ø  Operating Margin improved by 179 basis point to 21.5% from 19.7% in Q2FY16
Ø  Net Profit: Rs. 41 Cr., an increase of 26% compared to Rs. 32 Cr. in Q2FY16
Ø  Net Profit Margin improved by  208 basis point to 11.2% from 9.1% in Q2FY16

The Company’s standalone sales during the quarter were Rs. 341 Cr. In this quarter the Company recorded EBITDA and PAT of Rs. 75 Cr. and Rs. 33 Cr. respectively.

The Company’s Board of Directors has approved interim dividend of 20 paise per share of face value of Rs. 1 each.

“We are focused to achieve our long term goals as we move ahead in the investment phase. Our API and PFI capacity enhancements within our base business and Greenfield API facility in Vizag are both on track. In addition, our product development and subsequent filling continues to make steady progress. During the quarter, the U.S. FDA approved our ANDA for Ibuprofen 200 mg orange tablets which enhances our product portfolio. We are also happy to see an increasing share of revenue coming from our formulation division which focuses on the U.S., European and Canadian markets." said Mr. Krishna Prasad Chigurupati, Chairman & Managing Director.