Granules India Ltd.

NSE: GRANULES · Pharmaceuticals

52W Range₹433 ₹910

Snapshot

Unlock Granules India Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Granules India Limited is a vertically integrated pharmaceutical company that manufactures and sells active pharmaceutical ingredients (APIs), pharmaceutical formulation intermediates, and finished dosages. The company serves a global market, providing products across diverse therapeutic categories including anti-retrovirals, analgesics, and oncology specialty products.

Business Model

The company operates on a vertically integrated model, controlling the value chain from API production to finished dosage forms. It generates revenue through the large-scale manufacturing and global distribution of pharmaceutical products to international markets.

Growth Outlook

Growth is driven by the expansion of its finished dosage portfolio and the strengthening of its global supply chain across North America, Europe, and emerging markets. The company continues to invest in specialty products, including oncology, to diversify its therapeutic offerings.

Key Risks

  • Regulatory Compliance. The company faces significant risks related to stringent quality standards and inspections by international health authorities like the USFDA.
  • Price Volatility. Intense competition in the generic pharmaceutical market can lead to pricing pressure and margin erosion for APIs and finished dosages.
  • Supply Chain Disruptions. Dependency on global logistics and raw material sourcing makes the company vulnerable to geopolitical tensions and international trade disruptions.
  • Currency Fluctuations. As a significant exporter, the company is exposed to foreign exchange risks that can impact profitability when reporting in Indian Rupees.

Price

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Key Metrics

REVENUE

₹5,366 Cr

TTM · consolidated

+19.7%YoY

NET PROFIT

₹595 Cr

TTM · consolidated

+18.6%YoY

EPS

₹24.44

TTM · consolidated

+18.1%YoY

RETURN ON EQUITY

14.7%

TTM · consolidated

-0.3 ppYoY

RETURN ON CAPITAL EMPLOYED

19.6%

TTM · consolidated

-1.4 ppYoY

P/E

37.0x

Q4 FY26 · consolidated

37.0 vs 50.5x5Y avg

EV/EBITDA

19.0x

Q4 FY26 · consolidated

19.0 vs 28.7x5Y avg

EBITDA MARGIN

22.5%

TTM · consolidated

+1.1 ppYoY

NET PROFIT MARGIN

13.7%

Q4 FY26 · consolidated

+1.0 ppYoY

DEBT TO EQUITY

0.3x

Q4 FY26 · consolidated

-0.09xYoY

Peers · Pharmaceuticals

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Granules India Ltd.GRANULES
14,43236.9618.9519.7%22.5%14.7%19.6%+80.8%
Neuland Laboratories Ltd.NEULANDLAB
15,42766.0939.9837.0%29.9%22.6%27.9%+30.4%
Onesource Specialty Pharma Ltd.ONESOURCE
14,946182.4338.3869.9%2.3%4.5%-16.4%
Jubilant Pharmova Ltd.JUBLPHARMA
13,85840.5813.6714.4%16.0%6.1%7.4%-14.6%
Alembic Pharmaceuticals Ltd.APLLTD
13,12924.4715.0710.1%16.0%12.6%14.2%-18.1%
Rubicon ResearchRUBICON
12,88423.0%

As of Q4 FY26

Financials