Granules India Ltd Stock Analysis

BSE: 532482 | NSE: GRANULES | Pharmaceuticals & Drugs | Mid Cap

BSE Share Price 06-Feb-2023 18:01
288.30 -3.60 (-1.23%)

DeciZen - Make an Informed Decision on Granules India

Overall Rating

1. Quality

2. Valuation


3. Price Trend

Semi Strong

Granules India Price Chart

P/E Ratio ( SA) :
Market Cap :
6,978.1 Cr.
52-wk low :
52-wk high :
Bole Toh?

1. Is Granules India Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Granules India Ltd is a average quality company.

2. Is Granules India Ltd undervalued or overvalued?

The key valuation ratios of Granules India Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Granules India Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Granules India Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Granules India:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Granules India Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

ROCE % 9.2%15.9%15.5%13.7%11.9%8.3%7.4%13.3%20.2%12.3%-
Value Creation Index -

Growth Parameters

Growth Parameters Colour Code Guide

Sales 6801,0021,2151,3281,3491,6472,0982,3103,1353,2383,830
YoY Gr. Rt. %-47.4%21.3%9.3%1.6%22%27.4%10.1%35.7%3.3%-
Adj EPS 1.544.
YoY Gr. Rt. %-163.3%18.5%19%14.7%-17.1%13.4%111%77.9%-29.5%-
BVPS (₹) 13.316.920.829.338.650.155.770.986.9101.6106.9
Adj Net Profit
Cash Flow from Ops. 50.99413514419024227495375280-
Debt/CF from Ops.


CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 18.9%19.1%15.6%3.3%
Adj EPS 30%20%38.3%-29.5%
BVPS 25.421.422.216.9
Share Price 37.8% 19.3% 21.1% -7.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Return on Equity % 11.726.124.822.118.912.411.319.928.116.819.9
Op. Profit Mgn % 11.616.317.420.322.317.815.921.427.820.221.6
Net Profit Mgn % 4.587.
Debt to Equity 0.91110.
Working Cap Days 106951101682412782371951692060
Cash Conv. Cycle 3929347811511711498741060

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 15.56%

Net Profit is growing at healthy rate in last 3 years 38.31%

Sales growth is good in last 4 quarters at 23.90%

Return on Equity has declined versus last 3 years average to 19.90%

Latest Financials - Granules India Ltd.

Standalone Consolidated
TTM EPS (₹) 20.8 21
TTM Sales (₹ Cr.) 3,830 4,346
BVPS (₹.) 106.9 112.5
Reserves (₹ Cr.) 2,564 2,698
P/BV 2.70 2.56
PE 13.88 13.74
From the Market
52 Week Low / High (₹) 227.00 / 381.25
All Time Low / High (₹) 1.57 / 438.00
Market Cap (₹ Cr.) 6,978
Equity (₹ Cr.) 24.2
Face Value (₹) 1
Industry PE 36.3

Management X-Ray of Granules India :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *8.648.648.646.926.926.926.9210.5910.594.03
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Granules India

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)


Granules India Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Granules India on 06-Feb-2023 18:01 is : 288.3.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 06-Feb-2023 18:01 the market cap of Granules India stood at ₹ 6,978.1.
The latest PE ratio of Granules India as of 06-Feb-2023 18:01 is 13.88.
The latest PB ratio of Granules India as of 06-Feb-2023 18:01 is 2.70
The 52-week high of Granules India is ₹ 381.2 and the 52-week low is ₹ 227.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue / sales of Granules India is ₹ 3,830 ( Cr.) .

About Granules India Ltd

Granules India Limited is a large-scale vertically integrated Company founded in 1991 manufacturing Active Pharmaceutical Ingredient (API), Pharmaceutical Formulation Intermediate (PFI) and Finished Dosage (FD). The Company over the years has created a strong presence in ‘the first line of defence’ products such as Paracetamol, Ibuprofen, Metformin, Methocarbamol, and Guaifenesin.

The company’s product-focused, vertically integrated business model has created a leadership position in several generic drugs. It has a strong presence in ‘first line of defence’ products, including Paracetamol, Ibuprofen, Guaifenesin and Metformin. It exports nearly 60% of its revenue to the US and Europe. Its key customers include some of the leading generic, as well as, branded pharmaceutical companies. Its integrated model for manufacturing APIs, PFIs and Finished Dosages enables it to provide products across the value chain and enhances its competitiveness. It has emerged into a knowledge driven, R&D focused, multi-product organization, with inherent strength in efficient manufacturing of high-volume pharmaceutical products.

Business area of the company

Granules India is one of the vertically integrated, high-growth pharmaceutical manufacturing company in India today. Based out of Hyderabad, India, it is into manufacturing Active Pharmaceutical Ingredients (APIs), Pharmaceutical Formulation Intermediaries (PFIs) and Finished Dosages (FDs).

Products of the company

  • Active Pharmaceutical Ingredients
  • Pharmaceutical Formulation Intermediates
  • Finished Dosages
  • Speciality Products


  • 1991: Trading of APIs
  • 1994: Production of various APIs
  • 1995: Venture into the manufacture of DC Paracetemol (PFI)
  • 1996: Targeting of OTC market in the US for Paracetemol PFI.
  • 1998: Expansion of PFI capacity.
  • 2000: Obtaining US FDA approval for PFI and other APIs.
  • 2001: Development of new PFIs such as Guaifenesin, Metformin and Ibuprofen etc.
  • 2002: Filing of new DMFs of the above PFIs and moving up of value chain in OTC products.
  • 2003: Setting up of the world's single largest PFI facility with a capacity of 7,200 TPA.
  • 2004: The only company in the world to manufacture combination PFIs on a commercial scale using different basic APIs with other excipients.
  • 2004: Addition of a Tableting facility with a capacity of one billion pieces per annum
  • 2005: Started construction of the Tableting facility with a capacity of 12 billion tablets.
  • 2006: Major expansion of Paracetamol facility, from a capacity of 3600 MT to 12000MT per annum
  • 2010: Granuels India Receives U.S. FDA Approval for its Metformin ANDA.
  • 2011: Granules established Granules-OmniChem, a JV with Ajinomoto OmniChem. The business focuses on the CRAMS space
  • 2012: Granules India Awarded India’s Most Admired Company in Exports & India’s Most Admired Company in Bulk Drugs.
  • 2012: Granules India Awarded Outstanding Exports - Formulations Award 2011-12 by Pharmexcil.
  • 2013: Granules acquired Auctus Pharma.
  • 2016: Wholly owned subsidiary Granules Pharmaceticals Inc (GPI) enters into agreement to acquire 12.5% stake in US based USPharma.
  • 2017: Granules India Limited featured in the list at 60th place in Fortune India's 2017 list of The Next 500 Companies.
  • 2018-19: Granules Pharmaceuticals Inc. launched generic Methylergonovine tablets (Methergine) in partnership with Hikma Pharmaceuticals Plc.
  • 2018-19: Granules Pharmaceuticals Inc. successfully launched Metformin XR and Methocarbamol under its own label.
  • 2020: Granules India gets nod to set up subsidiary in Hyderabad.
  • 2020: Granules India gets marketing approval from US FDA for Potassium Chloride Extended Release Tablets.
  • 2021: USFDA approves ANDA filed by Granules India’s arm for Potassium Chloride Oral Solution.
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