Manufactures and sells generic pharmaceutical finished dosage formulations (tablets, capsules and other oral solids), which made up 74% of consolidated revenue in Q1 FY27. The complex-generics portion of the finished-dosage book has risen to 50% (from 39% a year earlier), and the company now holds two Sole First-to-File ANDA approvals that grant 180-day US market exclusivity — Sodium Oxybate Extended-Release Oral Suspension (generic of LUMRYZ for narcolepsy) and Amphetamine Extended-Release Tablets. Alongside finished dosages, it makes Active Pharmaceutical Ingredients (13% of Q1 FY27 revenue), Pharma Formulation Intermediates (9%), and runs a peptide Contract Development and Manufacturing Organization through the acquired Senn Chemicals AG, which grew more than 100% year-on-year and contributed 4% of revenue. Manufacturing spans eight facilities; seven have a clean Establishment Inspection Report from the USFDA, with 9 product launches and 25 ANDAs sitting behind the Gagillapur facility's pending reinspection. R&D spending ran at about 6% of sales in Q1 FY27, and FY27 capex is guided at ₹600 crore, including roughly ₹300 crore phased over multiple years for a peptide intermediates and API plant in India. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Finished Dosages (74%), Active Pharmaceutical Ingredients (API) (13%), Pharma Formulation Intermediates (PFI) (9%), Peptide CDMO (4%). Asset-heavy generic pharma manufacturer shifting mix toward complex generics and adding a peptide CDMO vertical.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 3,765 | 4,512 | 4,506 | 4,482 | 5,366 |
| EBITDA (ex other income) | 722 | 914 | 856 | 976 | 1,175 |
| margin % | 19.2 | 20.3 | 19.0 | 21.8 | 21.9 |
| Owners' profit | 413 | 517 | 426 | 502 | 595 |
| EPS, as reported (₹) | 16.66 | 21.05 | 16.73 | 20.69 | 24.47 |
| ROE % · ROCE % | 16.0 · 20.2 | 18.2 · 24.0 | 12.6 · 19.0 | 13.5 · 18.0 | 11.7 · 16.0 |
| Debt / equity (x) | 0.42 | 0.37 | 0.38 | 0.35 | 0.26 |
| Cash from operations | 332 | 739 | 439 | 867 | 793 |
| Capex | (398) | (411) | (381) | (572) | (558) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 967 | 1,138 | 1,197 | 1,210 | 1,297 | 1,388 | 1,471 | 1,477 |
| Profit before tax | 128 | 153 | 198 | 145 | 176 | 202 | 262 | 240 |
| Net profit | 97 | 118 | 152 | 113 | 131 | 150 | 202 | 180 |
| EPS (₹) | 4.01 | 4.85 | 6.27 | 4.64 | 5.38 | 6.19 | 8.23 | 7.26 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SUN PHARMACEUTICAL IND L | 4,41,471 | 36.5 | 5.26 | 23.7 | 13.7 | 17.5 | 11.8 | 32.3 |
| DIVI S LABORATORIES LTD | 2,47,033 | 84.6 | 14.74 | 63.7 | 15.3 | 18.8 | 8.7 | 42.8 |
| TORRENT PHARMACEUTICALS L | 1,68,062 | 79.3 | 9.56 | 41.5 | 12.2 | 8.0 | 11.8 | 33.1 |
| ZYDUS LIFESCIENCES LTD | 1,11,686 | 24.9 | 3.78 | 14.5 | 17.3 | 18.0 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Promoter sells 1.72 cr shares; promoter group holding drops to 31.08% | ownership changes | high | — | — |
| 11 Sept 2026 · Analyst and Investor Meeting Scheduled on September 18, 2026 | board shareholder meetings | low | — | — |
| 13 Aug 2026 · Granules India CSO resigns, moves to wholly owned subsidiary as CEO | management changes | low | — | — |
| 13 Aug 2026 · CSO Sanjay Kumar moves to subsidiary Ascelis Peptides as CEO | management changes | medium | — | — |
| 6 Aug 2026 · Granules India 35th AGM: All resolutions passed, Rs 1.75 dividend approved | board shareholder meetings | low | — | — |
| 4 Aug 2026 · LIC sells 2.1 percent stake in Granules India, holding falls to 2.9 percent | ownership changes | high | — | — |
| 27 Jul 2026 · Q1 FY27 earnings call transcript, strong revenue and EBITDA growth | investor communications | medium | — | — |
| 22 Jul 2026 · Granules India posts Q1 FY27 earnings call audio recording | investor communications | low | — | — |
| 21 Jul 2026 · Monitoring Agency report for the quarter ended on June 30, 2026 | compliance | low | — | — |
| 21 Jul 2026 · Granules India Q1 FY27: PAT up 60%, EBITDA margin expands 256 bps YoY | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 12.4 |
| 25.2 |
| CIPLA LTD | 1,10,352 | 32.7 | 3.20 | 16.9 | 11.2 | 14.7 | 8.0 | 19.7 |
| LAURUS LABS LIMITED | 1,06,375 | 97.2 | 19.59 | 59.3 | 16.4 | 17.2 | 7.2 | 32.0 |
| DR. REDDY S LABORATORIES | 97,319 | 30.1 | 2.55 | 13.1 | 10.9 | 13.0 | 12.1 | 15.0 |
| AUROBINDO PHARMA LTD | 96,656 | 26.3 | 2.55 | 13.4 | 9.2 | 12.6 | 6.3 | 23.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 33.8 | 28.9 | 93 of 169 | 45% |
| P/B | 4.5 | 3.3 | 107 of 163 | 35% |
| ROCE | 13.9 | 10.8 | 72 of 183 | 61% |
| ROE | 11.7 | 10.4 | 73 of 171 | 58% |
| Debt / Equity | 0.3 | 0.1 | 113 of 171 | 34% |
| EBITDA margin | 23.1 | 17.5 | 61 of 165 | 63% |
| Revenue growth | 22.0 | 16.3 | 64 of 161 | 61% |
| Profit growth | 59.8 | 30.9 | 56 of 158 | 65% |
| Market cap | 22644 | 839 | 26 of 182 | 86% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
