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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
₹868.65
Market cap
₹21,525 Cr
Revenue (annual)
₹5,366 Cr
Net profit (annual)
₹595.0 Cr
P/E (TTM)
32.5×Sector 50.4×
Promoter holding
37.39%-0.63% QoQ
FII holding
20.29%Current quarter

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

More from Granules India Ltd

All →
17:51 IST BSE
Promoter Buying

Granules India Promoter Buying

Promoter Uma Devi Chigurupati acquired 2.48 crore shares of Granules India Ltd via the open market. This transaction increases the promoter stake by 8.70%.

Promoter stake change
+8.70%
14:29 IST BSE
Other Announcement

Granules India Other Announcement

The company submitted its quarterly shareholding pattern disclosure as required by SEBI regulations for the period ended September 16, 2026.

17:39 IST BSE
Capital Structure Change

Granules India Capital Structure Change

Granules India allotted 2.49 crore equity shares to its promoter group upon warrant conversion, raising Rs. 1,461.50 Crore. This increases the company's total paid-up equity capital.

Value
₹1,462 Cr
19:42 IST BSE
Capital Structure Change

Granules India Capital Structure Change

Granules India received Rs. 1,093 crore from the Promoter group, representing the balance 75% subscription for the conversion of 2.49 crore warrants into equity shares.

Value
₹1,093 Cr
18:35 IST BSE
Promoter Selling

Granules India Promoter Selling

Promoter Dr. Krishna Prasad Chigurupati sold 1.72 crore equity shares of Granules India Ltd via block deal and open market, reducing aggregate promoter stake.

Promoter stake change
-6.94%