HYDERABAD, India, August 11, 2016 /PRNewswire/ --
Granules India Ltd., a growing pharmaceutical manufacturing company,announced today financial results for its first quarter ended 30th June, 2016.
Consolidated Q1FY17 Financial Results Highlights:-
- Revenue: Rs. 344 Cr., an increase of 7% compared to Rs. 323
- EBITDA: Rs. 72 Cr., an increase of 12% compared to Rs. 64 Cr. in Q1FY16
- Operating Margin improved by 96 basis point to 20.8% from 19.9% in Q1FY16
- Net Profit: Rs. 39 Cr., an increase of 37% compared to Rs. 29 Cr. in Q1FY16
- Net Profit Margin improved by 249 basis point to 11.3% from 8.8% in Q1FY16
The company's standalone sales during the quarter were Rs. 337 Cr., an increase of 4% from same quarter previous year. EBITDA and PAT increased by 16% and 17% to Rs. 76 Cr. and Rs. 36 Cr. compared to last year.
The company's Board of Directors has approved interim dividend of 20 paise per share of face value of Rs. 1 each.
"Our top-line growth was slightly subdued but we have once again demonstrated our strength in operational excellence with improved bottom line. On business front, Granules Pharmaceuticals, Inc., our US based wholly-owned subsidiary entered into an agreement with USpharma to acquire 12.5% of its stake. USpharma in collaboration with its manufacturing partners had submitted five ANDAs with Paragraph IV certifications, out of which four ANDAs have already been out licensed to us exclusively. These are in line with our organizational strategy of solidifying our presence in the US market and enhancing product portfolio by leveraging both internal and external product development capabilities," said Mr. Krishna Prasad Chigurupati, Chairman & Managing Director.
About Granules India Ltd.:
Granules (BSE: 532482, NSE: GRANULES) is a fast-growing pharmaceutical manufacturing company with world-class facilities and is committed to manufacturing excellence, quality and customer service. The company produces Finished Dosages (FDs), Pharmaceutical Formulation Intermediates (PFIs) and Active Pharmaceutical Ingredients (APIs) for quality conscious customers in the regulated and semi-regulated markets. Granules support customers with unique value, extensive product range, proactive solutions and a global network of associates. The company's global presence extends to over 300 customers in 60 countries through offices in India, U.S., U.K., China and Colombia. Granules offer all three components of the pharmaceutical value chain which gives the customers flexibility and choice.
The company has its own ANDAs and dossiers which enable customers to quickly enter a market instead of filing their own applications. Granules has a highly-skilled regulatory affairs department that can offer customers support and can help them navigate through regulatory issues.
Certain statements made above may be 'forward looking statements' within the meaning of applicable laws and regulations.
Media Contact: Sumanta Bajpayee email@example.com +91-40-30663572 Granules India Ltd.
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