Granules India Limited has informed the Exchange about Transcript
GRANULES · price
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Granules India reported Q4 FY25 revenue of Rs. 1,197.4 crore (up 2% YoY, 5% QoQ) and full-year revenue of Rs. 4,481.6 crore (slightly down from Rs. 4,506.4 crore in FY24). Q4 gross margin improved 333 bps YoY to 63.4%, with full-year gross margin up 635 bps, driven by a strategic shift toward high-margin formulation products. Full-year EBITDA grew 10% to Rs. 945.2 crore despite US FDA remediation costs. R&D spending rose 20% to Rs. 238 crore, and net debt reduced to Rs. 706.1 crore from Rs. 828.9 crore. The company completed the acquisition of Swiss peptide CDMO Senn Chemicals in April 2025 and is setting up a peptide R&D facility in Hyderabad. The Gagillapur facility received an FDA warning letter in February 2025; remediation is ongoing and is expected to impact production for another quarter or two. FY26 CAPEX is guided at around Rs. 600 crore, with Senn Chemicals investment of Rs. 450 crore on top.
Margin expansion and reduced net debt are positive signals, but the FDA warning letter on the Gagillapur site and ongoing remediation costs (about Rs. 60 crore in FY25) remain near-term overhangs. The Senn Chemicals entry into high-growth peptides (including GLP-1) and capacity ramp-up at Genome Valley provide medium-term growth optionality, though management declined specific FY26 revenue/EBITDA guidance.