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Earnings Call

Granules India Earnings Call: Key Takeaways

Granules India reported Q3FY26 revenue of ₹13,879 Mn (up 22% YoY) and PAT of ₹1,502 Mn (up 28% YoY), driven by Finished Dosage growth in North America and Europe.

Why this was an Alfa AlertNot a filter event. Results show steady growth but no evidence of beating prior guidance by >10% or guidance >50% YoY.
Highlights
Revenue growth22% YoY, 7% QoQ.
MarginsEBITDA margin at 22.2%, up from 20.2% YoY.
Demand visibilityDriven by Finished Dosage segment in US and Europe.

Growth

Revenue grew 22% YoY and 7% QoQ. EBITDA increased 34% YoY with margins expanding 196 bps to 22.2%.

Outlook

Focusing on scaling from Integrated to Complex Generics; 130 filed dossiers with 36 awaiting approval; ongoing CAPEX of ₹1,298 Mn.

Risks

EBITDA loss of ₹248 Mn from Ascelis Peptides; rising manpower costs (up 35% YoY).

Last quarter's promises, checked

Delivered

  • Guided Europe growth → delivered 81% YoY (= BEAT)
  • Guided EBITDA positive Senn post-acquisition → delivered positive Q4 EBITDA (= BEAT)
  • Guided FY26 Revenue >₹50,000 Mn → delivered ₹53,656 Mn (= BEAT)

Partly delivered

  • Guided Net Debt reduction → delivered ₹4,021 Mn from ₹7,061 Mn (= PARTIAL)

Missed

  • Guided FY26 Capex ₹5,700 Mn → delivered ₹5,547 Mn (= MISS)
Source

Earnings Call filed with NSE, NSE: GRANULES. Summary written with AI assistance from the document.

Read the document ↗

Granules India Ltd: key numbers

Share price
₹799.25
Market cap
₹19,805 Cr
Revenue (annual)
₹5,366 Cr
Net profit (annual)
₹595.0 Cr
P/E (TTM)
27.8×Sector 43.8×
Promoter holding
37.39%-0.63% QoQ
FII holding
20.25%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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