Hyderabad, January 2024: Granules India Ltd., a vertically integrated pharmaceutical company, today announced its financial results for the quarter ended December 31, 2023.
Financial Summary (All numbers in INR mn., except Margins)
| QUARTERLY CONSOLIDATED FINANCIALS | Q3FY24 | Q2FY24 | Growth (QoQ) | Q3FY23 | Growth (YoY) |
| Revenue from Operations | 11,556 | 11,895 | (3%) | 11,461 | 1% |
| EBITDA | 2,505 | 2,130 | 18% | 2,313 | 8% |
| EBITDA % | 22% | 18% | 20% | ||
| PAT | 1,257 | 1,021 | 23% | 1,243 | 1% |
| PAT % | 11% | 9% | 11% |
Financial and Business Summary for Q3FY24
§ Revenue from Operations in Q3FY24 stood at INR 11,556 mn, a growth of 1% y-o-y and a decline of 3% q-o-q.
§ Active Pharmaceuticals Ingredients (API), Pharmaceutical Formulation Intermediates (PFI), and Finished dosages contributed 19%, 15%, and 66% of revenue from operations respectively for Q3FY24. The focus on formulations sales has increased resulting in the momentum shifting from API and PFI to Formulations.
§ ROCE stood at 15.3%
§ Net debt stood at INR 9,285 mn and Net debt to EBITDA at 1.16x
Commenting on the results, Dr. Krishna Prasad Chigurupati, Chairman & Managing Director of Granules India Limited said, “We had a steady performance this quarter which is reflected in our improved EBITDA and PAT margins as compared to the previous quarter. US formulations business has done well in Q3, led by both existing and new products”.
About Granules India Ltd. (BSE: 532482, NSE: GRANULES)Granules India Limited, incorporated in 1991 is a vertically integrated fast growing Indian pharmaceutical companyheadquartered at Hyderabad with best-in-class facilities and commitment to operational excellence, quality, and customer service. We are among the few pharmaceutical companies in the world to be present in themanufacturing of entire value chain from Active PharmaceuticalIngredients (APIs), Pharmaceutical Formulation Intermediates (PFIs), and Finished Dosages (FDs). Our 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 7 manufacturing facilities out of which 6 are in India and 1 in the USA and 1 packaging facility in the USA and has regulatory approvals from US FDA, EDQM, EU GMP, COFEPRIS, WHO GMP,TGA, K FDA, DEA, MCC, and HALAL.