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Hyderabad-based Granules India Ltd has reported almost three fold growth in net profit during the first quarter of the current fiscal year at Rs. 1,346 crore, as compared to Rs. 479 crore registered during the same period of previous fiscal year.
The total revenue from operations grew 20 per cent to Rs. 11,799 crore as compared to Rs. 9,855 crore during the first quarter of FY24, announced the company. The EBITDA grew 89 per cent year on year to Rs. 2,593 crore as against Rs. 1,368 crore registered in the same period last year. EBITDA margin grew to 22 per cent from 14 per cent during the comparable period.
The company said that the revenue share from North America increased to 74% in Q1 FY25 as compared to 61% in Q1 FY24. There was also a decline in para active pharmaceuticals ingredients (API) and pharmaceutical formulation intermediates (PFI) sales volume and price erosion.
API, PFI, and finished dosages contribute 14%, 10%, and 76% of revenue from operations respectively for the first quarter of FY25. Return on Capital Employed (ROCE) is at 19.6% as compared to 9.3% YoY. The net debt stood at Rs. 7,94.1 crore and net debt to EBITDA at 0.77.
Dr Krishna Prasad Chigurupati, chairman & managing director of Granules India Limited said, “With our robust quarterly performance, we are back on our planned trajectory after a few setbacks last year."
"Q1 performance highlights include continued growth in our formulation segment, strong North America business, and product diversification, which offset the paracetamol API/PFI decline, promising a brighter future driven by our formulations offering and new product pipeline,” said Chigrupati.
Granules India's products are being distributed to over 300+ customers in regulated and semi-regulated markets with a global presence extending to over 80+ countries with offices across India, US, and UK. The company has 10 manufacturing facilities out of which 8 are in India and 2 in the USA and has regulatory approvals from US FDA, EDQM, EU GMP, COFEPRIS, WHO GMP, TGA, among others.
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