Granules India Ltd

Granules India Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Granules India Ltd

₹ 876 -0.05%
21 Jul - close price
granulesindia.com BSE: 532482 NSE: GRANULES
About

Granules India Ltd and its subsidiaries are primarily involved in the manufacturing and selling of Active Pharma Ingredients (APIs), Pharmaceutical Formulation Intermediates (PFIs) and Finished Dosages.[1]

Key Points

Business Segments[1]
a) Finished Dosages (74% in FY26 vs 77% in FY25):[2]
The company develops a range of oral dosage formulations, including immediate-release, extended-release, delayed-release, and multiparticulate pellet-based tablets and capsules, press-fit tablets, oral solutions, suspensions, and powders for oral solutions.

Website BSE NSE
  • Market Cap ₹ 21,703 Cr.
  • Current Price ₹ 876
  • High / Low ₹ 910 / 433
  • Stock P/E 33.4
  • Book Value ₹ 205
  • Dividend Yield 0.20 %
  • ROCE 15.5 %
  • ROE 13.8 %
  • Face Value ₹ 1.00
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Pros

Cons

  • The company has delivered a poor sales growth of 10.6% over past five years.
  • Company has a low return on equity of 13.6% over last 3 years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 7.84% of profits over last 3 years
  • Promoter holding has decreased over last 3 years: -4.00%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Healthcare Healthcare Pharmaceuticals & Biotechnology Pharmaceuticals

Part of BSE 500 BSE Healthcare Nifty 500 Nifty500 Shariah BSE 250 SmallCap Index

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
986 1,189 1,156 1,176 1,180 967 1,138 1,197 1,210 1,297 1,388 1,471 1,477
849 977 905 920 921 763 907 945 963 1,019 1,080 1,119 1,138
Operating Profit 137 213 250 256 259 203 230 252 247 278 308 352 339
OPM % 14% 18% 22% 22% 22% 21% 20% 21% 20% 21% 22% 24% 23%
0 2 1 2 2 3 6 33 -10 -1 -4 25 2
Interest 22 26 29 29 27 26 27 24 24 29 29 33 21
Depreciation 49 53 52 53 53 53 57 64 69 72 74 82 80
Profit before tax 65 136 170 176 181 128 153 198 145 176 202 262 240
Tax % 27% 25% 26% 26% 26% 24% 23% 23% 22% 26% 26% 23% 25%
48 102 126 130 135 97 118 152 113 131 150 202 180
EPS in Rs 1.98 4.21 5.18 5.35 5.56 4.01 4.85 6.27 4.64 5.38 6.19 8.13 7.26
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Upcoming result date: today

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
1,292 1,357 1,411 1,685 2,279 2,599 3,238 3,765 4,512 4,506 4,482 5,366 5,632
1,082 1,081 1,112 1,406 1,895 2,073 2,382 3,038 3,597 3,648 3,534 4,177 4,355
Operating Profit 210 276 299 278 384 526 856 727 915 858 948 1,188 1,277
OPM % 16% 20% 21% 17% 17% 20% 26% 19% 20% 19% 21% 22% 23%
3 5 35 27 75 90 26 13 12 2 41 7 22
Interest 32 37 32 33 28 27 26 23 56 106 103 114 112
Depreciation 53 58 72 76 105 137 151 159 184 207 226 296 307
Profit before tax 128 186 230 196 326 451 704 558 687 547 660 785 881
Tax % 29% 33% 28% 32% 27% 26% 22% 26% 25% 26% 24% 24%
91 123 165 133 236 335 549 413 517 405 502 595 662
EPS in Rs 4.45 5.68 7.19 5.22 9.30 13.19 22.18 16.64 21.34 16.72 20.68 24.01 26.96
Dividend Payout % 11% 11% 13% 19% 11% 8% 7% 9% 7% 9% 7% 7%
Compounded Sales Growth
10 Years: 15%
5 Years: 11%
3 Years: 6%
TTM: 25%
Compounded Profit Growth
10 Years: 17%
5 Years: 2%
3 Years: 5%
TTM: 36%
Stock Price CAGR
10 Years: 20%
5 Years: 18%
3 Years: 41%
1 Year: 77%
Return on Equity
10 Years: 17%
5 Years: 15%
3 Years: 14%
Last Year: 14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 20 22 23 25 25 25 25 25 24 24 24 25
Reserves 411 640 881 1,279 1,504 1,818 2,149 2,562 2,811 3,201 3,691 5,060
482 641 656 978 991 892 849 1,106 1,136 1,315 1,455 1,512
289 260 319 388 458 487 690 819 932 957 1,051 1,086
Total Liabilities 1,203 1,563 1,879 2,670 2,979 3,223 3,713 4,512 4,903 5,498 6,221 7,683
617 560 644 777 944 1,204 1,332 1,541 1,911 2,096 2,426 3,250
CWIP 62 77 267 515 496 294 239 356 239 272 440 410
Investments 0 70 108 157 210 19 19 20 21 22 22 1
524 856 859 1,222 1,328 1,706 2,123 2,594 2,732 3,109 3,333 4,022
Total Assets 1,203 1,563 1,879 2,670 2,979 3,223 3,713 4,512 4,903 5,498 6,221 7,683

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
150 151 188 -1 262 476 432 332 739 439 867 793
-146 -162 -326 -462 -270 -160 -277 -379 -192 -358 -689 -758
19 86 56 529 -17 -213 -299 190 -440 8 -93 379
Net Cash Flow 24 75 -82 66 -25 103 -144 143 107 90 85 414
Free Cash Flow 3 -10 -127 -447 -17 292 161 -65 328 61 297 239
CFO/OP 87% 72% 83% 21% 91% 113% 73% 66% 100% 73% 107% 87%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 39 101 108 136 108 93 86 90 77 80 77 62
Inventory Days 110 128 145 114 112 125 205 190 182 235 284 326
Days Payable 92 91 116 112 94 102 142 124 124 135 154 131
Cash Conversion Cycle 57 138 137 138 126 116 150 156 135 179 207 256
Working Capital Days 6 9 -2 42 48 63 62 44 36 35 42 49
ROCE % 19% 20% 18% 12% 15% 17% 25% 17% 19% 15% 15% 16%

Insights

In beta
Mar 2016 Sep 2017 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Finished Dosage (FD) Revenue Share
%

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North America Revenue Share
%
Finished Dosage (FD) Installed Capacity
Bn doses
R&D Scientists (Headcount)
count
Annual ANDA/Dossier Filings
count
Cumulative Dossier Approvals (USFDA + Global)
count
PFI Installed Capacity
TPA
Total Cumulative Dossier Pipeline (Filed)
count
R&D Expenditure (Percentage of Turnover)
% ・Standalone data

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Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
41.97% 41.97% 41.96% 38.87% 38.87% 38.85% 38.83% 38.82% 38.81% 38.81% 38.02% 38.01%
21.48% 18.78% 19.57% 20.39% 19.49% 15.87% 15.14% 13.24% 14.09% 13.55% 15.31% 17.50%
7.06% 10.16% 10.70% 14.11% 14.85% 19.57% 22.45% 23.52% 17.91% 17.47% 17.01% 16.11%
29.51% 29.10% 27.77% 26.61% 26.80% 25.71% 23.56% 24.41% 29.17% 30.15% 29.67% 28.36%
No. of Shareholders 2,07,0551,90,6911,82,1421,79,8702,02,1981,77,5541,69,8021,69,7001,65,5421,63,1841,60,2861,69,422

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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