Granules India Q1 FY27 earnings call
In brief
Q1 FY27 strongest ever: Revenue ₹1,477 cr (+22% YoY), EBITDA ₹339 cr (+37%), PAT ₹180 cr (+60%); ROCE 18%, net debt/EBITDA 0.07x.
- Management's tone
- Confident
- What was said
- Leaned positive
- Guidance
- Guidance held
- Analyst pushback
- Medium
- Stock, next session
- −0.05% (Nifty 50 −0.21%)
- Q1 FY27 revenue ₹1,477 cr (+22% YoY), EBITDA ₹339 cr (+37%), PAT ₹180 cr (+60%) — strongest first quarter ever.
- Gagillapur FDA remediation complete; 7 of 8 facilities hold clean EIR; 9 ANDAs await clearance as FY27 binary catalyst.
- Complex generics share of finished dosages rose to 50% from 39% YoY; GPI moved to 27th in US generics from 74th five years ago.
- ROCE improved to 18% (vs Q4 FY26 17.6%); net debt fell to ₹1,012 mn from ₹4,021 mn (net debt/EBITDA 0.34x → 0.07x).
- Peptide CDMO (Senn) Q1 revenue CHF5 mn, +100% YoY; FY27 annual PAT positive targeted; $50 mn/30%+ EBITDA mid-3rd-year milestone.
An AI read of the company's transcript · the filing
The numbers
The quarter, Q1 FY27
| This quarter | A year ago | Last quarter | Margin | |
|---|---|---|---|---|
| Revenue | ₹1,477 cr | +22.0% | +0.4% | |
| EBITDA (excl. other income) | ₹339 cr | +53.5% | −7.9% | 22.9% (18.2% a year ago) |
| Net profit | ₹180 cr | +63.0% | −10.7% | 12.2% (9.1% a year ago) |
| EPS (₹) | ₹7.26 | +56.5% | −11.8% |
From the company's filed results for the quarter ended 30 Jun 2026 (consolidated), not from the call. EBITDA here excludes other income, so it can differ from the figure management quotes.
Where management's figures differ from the filing
- EBITDA YoY growth: said +37% YoY at INR3,389 mn (margin 22.9%); filed +53.5% YoY at ₹338.91 cr (margin 22.9%). Same absolute EBITDA and margin stated, but YoY growth differs materially (37% vs 53.5%); likely base-period discrepancy in calculation.
What moved the numbers, as management explained it
- Mix shift to complex generics drove 74 bps gross margin expansion to 65.6% (vs Q1 FY26 implied 64.9%).
- West Asia geopolitical tensions inflating raw materials, packing inputs, freight and supply chain costs; opening US inventory levels largely insulated Q1.
- R&D spend INR880 mn (6% of sales, vs 5.3% in Q4 FY26); +30% YoY, focused on complex generics pipeline.
- Peptide CDMO EBITDA loss in Q1 driven by project/product mix variation, opex quarterly variation and long-cycle projects not monetized until H2.
- Receivables reduction (improved US receivable days) and stable inventory drove operating cash flow jump to INR3,874 mn (vs INR1,003 mn in Q4 FY26).
- Q1 FY27 capex moderated to INR890 mn (vs INR1,000 mn in Q4 FY26) as Genome Valley investment completed; FY27 run-rate still targeting ~₹600 cr. (one-off)
The numbers management led with
- Complex generics share of finished dosages: 50% in Q1 FY27, up from 39% a year ago
- Peptide CDMO YoY growth: >100% YoY in Q1 FY27; Q1 revenue ~CHF5 million
- Net debt / EBITDA: 0.07x at end of Q1 FY27 (essentially debt-free)
- ROCE: 18% in Q1 FY27 vs 17.6% in Q4 FY26
- FY27 capex guidance: ₹600 crores maintained (₹89 cr spent in Q1)
Guidance
Guidance on this call
| What | For | What management said |
|---|---|---|
| FY27 capex (overall) | FY27 | FY27 capex ~₹600 crore held; ₹89 crore spent in Q1 FY27. |
| FY27 EBITDA margin range | FY27 | FY27 EBITDA margin expected to stay in the 22-23% range. |
| Peptide CDMO PAT positive | FY27 | Annual PAT positive performance targeted for FY27. |
| Peptide CDMO revenue milestone | FY29-FY30 | USD 50 million revenue with 30%+ EBITDA targeted by mid of 3rd year from FY27. |
| Peptide CDMO EBITDA margin | FY29-FY30 | EBITDA margin 30%+ tied to $50 mn revenue milestone. |
| 5x peptide CDMO revenue in 5 years | FY32 | Goal of 5x peptide CDMO revenue in 5 years. |
| Working capital/sales ratio | FY27 | Working capital/sales to stay in ~33% range; Q1 achieved 29%. |
| R&D as % of sales | FY27 | R&D as % of sales expected at 5.5-6% going forward. |
| Genome Valley utilization (Finished Dosages) | FY27 | Genome Valley (GLS) utilization to cross 50% by FY27 year-end. |
| Peptide CDMO India intermediate facility | FY27 | Initial estimate ~₹100 crore for India peptide intermediate facility. |
| Peptide CDMO India API facility | FY27-FY28 | Initial estimate INR200 cr starting for India peptide API facility. |
What changed since the Wed 29 Apr 2026 call
| What | On the Wed 29 Apr 2026 call | On this call |
|---|---|---|
| Net debt trajectory FY27 (achieved) | Net debt expected to be flattish or see a very small increase in FY27 due to capex timing and higher working capital investment | Net debt stands at INR1,012 million in Q1 FY27 from INR4,021 million at FY26 close |
| Working capital/sales FY27 (achieved) | Maintain working capital to sales ratio of ~33% range despite near-term cost escalation headwinds | Net working capital to sales improved to 29% in Q1 FY27; management retains ~33% range guidance |
| FY27 capex guidance (held) | FY27 capex expected in similar range of ~₹600 crore, broad-based across new API facility, IT, and US distribution center | We still remain INR600 crores, INR89 crores is already spent |
| Peptide CDMO annual PAT positive FY27 (held) | Objective to deliver annual PAT positive performance from FY27 onwards, recognizing quarter-to-quarter variations inherent in project-driven CDMO business | Turn PAT positive for this year is the target that we have taken |
| Peptide India facility capex quantum (new) | Peptide CDMO: brownfield intermediates facility in India in coming months, API capacity to follow (quantum not disclosed) | Initial estimates suggest roughly about INR100 crores on the intermediate side, and if you take it forward to the API side, we are starting with INR200 crores of investment plan |
| Peptide CDMO longer-term milestone (new) | — | USD 50 million revenue with 30% plus EBITDA, somewhere in the third year from now, mid of third year from now, should be our run rate |
| Gagillapur remediation status (achieved) | Gagillapur FDA remediation fully complete; site ready for anytime audit but management cannot estimate reinspection timing | Our remediation work is essentially complete. We met the FDA in January. To date, the agency has not raised a single concern |
The business
By business
Finished Dosages / Complex Generics
Complex generics rose to 50% of finished dosages (vs 39% YoY); growth well-balanced led by complex generics, supported by North America and Europe.
Complex generics 50% of finished dosages · Complex generics 39% YoY ago
Outlook: Mix shift to complex generics to continue; majority of R&D spend directed there.
Peptide CDMO (Senn Chemicals)
Q1 revenue CHF5 mn, grew >100% YoY, moderated sequentially after strong Q4 FY26; 3 new customer projects initiated (1 pharma, 2 cosmetics).
Q1 revenue CHF5 mn · +100% YoY · 3 new customer projects initiated
Outlook: FY27 annual PAT positive targeted; H2 expected stronger than H1; India intermediate ~₹100 cr, API ~₹200 cr capex planned.
US Operations (GPI)
GPI moved to 27th in US generics from 74th five years ago; controlled substance — 4th largest player; Virginia facility received FDA clearance in June.
27th in US generics (from 74th) · 4th largest in controlled substance
Outlook: Currently 70% utilization; small expansion expected to be needed by end of FY28.
Oncology (Vizag)
2 ANDAs filed in US, 2 dossiers in Europe, ~14 country extensions; 9-13 oncology products in various development stages.
2 ANDAs filed in US · 2 dossiers in Europe · ~14 country extensions · 9-13 products in development
Outlook: First self-developed backward-integrated product launch in FY28-29 across multiple countries.
Balance sheet, capex and funding
- Net debt ₹1,012 mn in Q1 FY27 vs ₹4,021 mn at FY26 close (net debt/EBITDA 0.07x vs 0.34x at FY26 close).
- Net working capital/sales improved to 29% (vs 30% in Q1 FY26 and Q4 FY26); FY27 ~33% range target retained.
- Operating cash flow Q1 FY27 INR3,874 mn vs INR1,003 mn in Q4 FY26.
- Q1 FY27 capex INR890 mn (₹89 cr); FY27 capex guidance ~₹600 cr held with ₹89 cr spent.
- Capex moderated as Genome Valley investment completed; expected to pick up on digitalization and modular growth projects at existing facilities.
The industry, as management sees it
Management flags a tougher macro on raw materials and freight from geopolitical tensions in West Asia, but expects cost inflation to be mitigated through calibrated pricing and mix shift to complex generics. No broader sector view was articulated.
Risks management named
- Geopolitical tensions in West Asia causing raw material, packing, freight and supply chain cost inflation
- Gagillapur facility still under warning letter — new product approvals paused until FDA visits
- Cost pressures on legacy 5 Europe business limiting pricing pass-through and intentional supply hold
- Working capital may rise as US/non-US growth drives slightly higher receivable days
- Peptide CDMO has lumpiness in profitability from project mix and cycle time variations
Q&A
Discussion spanned growth trajectory, margin sustainability, peptide CDMO milestones and India capex, Gagillapur remediation status, oncology pipeline, controlled-substance launches, ANDA pipeline, GPI utilization and capital allocation. Pushback was moderate — the strongest scrutiny came from Sajal Kapoor (capability vs cost, peptide proof points) and Sameer Baisiwala (oncology filings, Dyanavel/Adzenys litigation timelines) — but management was largely direct and on the rare deflection (Dyanavel/Adzenys) it was explicitly litigation-driven rather than evasive on fundamentals.
Not answered directly
- Dyanavel and Adzenys launch timelines (litigation-related, no comment)
- Oncology ANDA filing run-rate guidance (no explicit number given)
- Zurich solid-phase/lyophilization specific equipment capacity numbers (deemed not disclosable)
Asked for a number, answered without one
- Oncology ANDA filing target FY27: Unfortunately, we don't give that guidance, but you can look at the run rate. The run rate has been improving over the last couple of quarters.
- Peptide CDMO Zurich upgrade capex amount: These are not very high numbers. The components have been already ordered and procurement done over the last more than 6 months. Cannot go into each equipment capacity.
- Dyanavel and Adzenys launch timelines: I'm sorry, I really cannot answer those questions; these are litigation-based products.
Every question, with its answer
1. FY27 growth, capex and margin guidance
Nishita Shanklesha, Sapphire Capital
Question. You've done 22% YoY growth for 2-3 quarters. What sort of growth can we see in FY27 on an overall year basis? What is the total capex for the year, and will margins stay in the 22-23% range?
Answer, Dr. Krishna Prasad Chigurupati / Mukesh Surana, CMD / CFO. Krishna Prasad: Growth will continue — confident. CFO Mukesh Surana: FY27 capex guidance maintained at ₹600 crores; ₹89 crores already spent in Q1 as Genome Valley investment completed. Krishna Prasad: Margins expected to continue in the 22-23% range.
2. Gross margin sustainability, Europe growth, Genome Valley ramp
Shashank Krishnakumar, Emkay Global
Question. On gross margins — mix change toward complex generics seems to have helped. Will favorable mix offset raw material pressures over the next 1-2 quarters? Second, what is driving strong Europe and RoW growth ex-Senn — API or formulations? Lastly, how is Genome Valley ramping — are 5 new filings this quarter from this facility?
Answer, Dr. Krishna Prasad Chigurupati / Priyanka Chigurupati, CMD / Executive Director. Krishna Prasad: RM pressures are high, but mix shift to complex generics is helping and should continue. Priyanka: Europe growth is planned — both API and FDF are growing, driven by demand for products filed in the past; upward trajectory ahead. On Genome Valley, Krishna Prasad said scaling is on track, expected to cross 50-60% utilization by year-end. Priyanka added that many filings from GLS are product extensions/site transfers for risk mitigation, not all new; some new filings from GLS but majority still from GGP.
Partly answered.
3. Capability-driven wins; peptide CDMO milestones
Sajal Kapoor, Antifragile Thinking
Question. Can you give one example where Granules won business because of capability rather than low-cost manufacturing? On peptides — peptide CDMO contributes only 4% of revenues yet occupies a central strategic place; what operating milestone would signal the platform has become structurally self-sustaining?
Answer, Dr. Krishna Prasad Chigurupati / Sanjay Kumar, CMD / Chief Strategy Officer. Krishna Prasad cited ADHD products (very low dosages, consistency in manufacturing is hard — others go out of stock) and the recent sole first-to-file sodium oxybate filing as capability-led wins. Sanjay Kumar: intermediate milestone is USD 50 million revenue with 30%+ EBITDA margin, expected at the mid-point of the 5-year journey (third year from now). Proof of concept also requires 3 customer wins of $10M+ annual size. Goal stated as 5x revenue in 5 years.
Follow-up. Is the $50M target a USD number, and what's the ballpark for tracking?
Answer. Sanjay Kumar: USD 50 million revenue with 30%+ EBITDA, somewhere in the middle of the third year from now as run rate. Investor called it a conservative stance.
4. Cash flow drivers, peptide timeline, Zurich upgrades, Gagillapur status
Tushar Manudhane, Motilal Oswal Financial Services
Question. What explains the significant rise in operating cash flow this quarter? What's the timeframe for the $50M peptide CDMO target? What is the capex for solid phase reactors, purification columns and lyophilization capacity upgrades? Has Gagillapur production continued through the warning letter period, and what is the nature of product extensions to GLS?
Answer, Mukesh Surana / Sanjay Kumar / Dr. Krishna Prasad Chigurupati / Priyanka Chigigurupati, CFO / CSO / CMD / Executive Director. Mukesh: Sequential revenue stable so no additional working capital investment; substantially reduced receivables (US receivable days better); combined with lower capex, free cash flow improved. Sanjay on $50M target: validation should come mid-way of the 5-year journey. On Zurich upgrades: solid phase reactors, large purification columns and lyophilization capacity already ordered over the past 6+ months; not very high numbers, sized to address past customer demand. On Gagillapur: Priyanka confirmed production never stopped after the initial 483s — only new product approvals paused; demand and supply continued; GLS filings are a mix of risk-mitigation transfers and new filings from multiple regions.
Partly answered.
5. Peptide FY27 outlook; oncology pipeline; US launch plan
Rashmi Shetty, Dolat Capital
Question. On peptides — you've given a 3-year target, but how should we look at this year given quarterly run-rate of INR60 cr? What EBITDA level should we expect? On oncology — where does the Vizag plant stand today on API filings, API launches, exhibit batches, etc.? And how many US launches are planned this year across GLS, GPI etc?
Answer, Sanjay Kumar / Priyanka Chigurupati, CSO / Executive Director. Sanjay: Single-minded FY27 target is PAT-positive for the peptide business; quarter-on-quarter variation expected; multiplying Q1 run-rate by 4 is the minimum annual expectation. Restricting numerical guidance to PAT-positive + EBITDA positive. Priyanka on oncology: Vizag has been used for CMO so far; first self-developed fully backward-integrated oncology product launches FY28-29 across geographies; 9-13 oncology products in different development phases (all in oral solid space today). On US launches: 9 launches expected this year pending FDA approval of GGP; 18 approvals still pending (9 GGP-dependent + 1 GPI + remaining IP-based).
6. Peptide India capex; Q1 EBITDA loss; remediation expense
Krisha Kansara, Molecule Ventures
Question. What capex is budgeted for the peptide intermediate plant in India? Peptides turned positive EBITDA last quarter but this quarter shows a ₹12 cr loss — reason (lower revenue base or one-off)? What was the remediation expense in Q1 FY27?
Answer, Sanjay Kumar / Mukesh Surana, CSO / CFO. Sanjay: Q1 peptide EBITDA loss driven by project/product mix, intra-product mix, and quarter-to-quarter opex variation; some projects have long lead times and get monetized in H2 — not a big one-off. India capex plan: ~₹100 cr for intermediates and ₹200 cr for API (₹300 cr combined initial estimate), not all in year one. Mukesh on remediation: not significant in Q1 FY27; broadly less than $1M per quarter over the last couple of quarters (H1 last year was the peak).
7. Complex generics medium-term target; Genome Valley utilization
Yashika Gogia, Nirzar
Question. Complex generics are 50% of Q1 FY27 — what's the medium-term target and is the pace of margin accretion from this shift sustainable? On Genome Valley (10 billion dosage US FDA-approved capacity) — what is current utilization and what's the timeline to steady-state?
Answer, Priyanka Chigurupati / Mukesh Surana, Executive Director / CFO. Priyanka: Complex generics at 50% today (vs 39% YoY) — growth is sustainable in absolute and percentage terms; both the integrated basket and new complex launches will grow, with new launches reasonably profitable and complex generics leading the path. Mukesh on Genome Valley: current utilization is very low; expected to cross 50% by year-end.
8. Controlled substance pipeline; complex growth split; R&D run-rate; dividend policy
Ritwik Sheth, One Up Financial Consultants Private Limited
Question. What's the launch pipeline for controlled substances in FY27 and FY28? Can we assume bulk of the ~50-55% YoY growth in complex products came from controlled substances? R&D this quarter was higher than the 5-5.5% run-rate — is 5.5-6% the new run-rate? Dividend payout policy given strong free cash flow?
Answer, Priyanka Chigurupati / Dr. Krishna Prasad Chigurupati / Mukesh Surana, Executive Director / CMD / CFO. Priyanka: 1-2 controlled substance launches in next 1.5-2 years; ~4-5 IP-based launches in controlled space (timing undisclosed due to litigation); plus ~5 more within controlled space; no new launches this year but growth from existing molecules. Complex growth is across three sub-segments — won't break down. Krishna Prasad: R&D run-rate 5.5-6% going forward. Mukesh: Dividend payout policy under internal review; could increase but no commitment yet.
Partly answered.
9. Europe sequential softness; ANDA approval pipeline
Suhani Singh, Ross Capital
Question. Europe saw sequential softness despite strong YoY — was that timing-related or indicative of underlying demand? Update on pending ANDA approvals?
Answer, Priyanka Chigurupati, Executive Director. Priyanka: Europe softness was a mix — intentional hold of supply on the legacy 5 business due to cost/pricing pressures (Granules is a long-term partner and couldn't fully pass through), plus growth in new areas like controlled substances is being managed deliberately. New approvals still pending. On ANDA approvals: ~9 from GGP pending facility clearance with ~$11bn market size; ~9 IP-based products; plus ~5 more from US (mix of IP-based and on-approval). Total ~23-24 filings pending approval.
Partly answered.
10. Oncology filings, GPI utilization, controlled quotas, Dyanavel/Adzenys
Sameer Baisiwala, Sakman Capital
Question. On oncology ANDAs — how many filed so far and when will they ramp (is it non-US)? Current utilization at GPI and growth potential? Quota headroom on controlled substances? Any thoughts on launch timelines for Dyanavel and Adzenys?
Answer, Priyanka Chigurupati / Dr. Krishna Prasad Chigurupati, Executive Director / CMD. Priyanka: 1 ANDA filed in US, 2 dossiers in Europe, plus ~14 country-level extensions; mix of US and non-US; won't give explicit guidance for current fiscal filing run-rate but improving each quarter. Krishna Prasad: GPI at ~70% capacity utilization with significant leeway; small expansion planned by end-FY28. Priyanka clarified 70% utilization at GPI is for low-volume, high-value products — not comparable to large-volume facilities. On quotas: more than sufficient to serve customers and reach target market share; on Dyanavel/Adzenys — all litigation-based, unable to comment on timelines including any 2027 calendar indication.
Not answered directly.
11. Working capital guidance
Vignesh Iyer, Sequent Investments
Question. On working capital — last call you indicated ~33% of sales; you delivered 29% in Q1. Do you stick to 33% as conservative or can you repeat the FY26-like 29%?
Answer, Dr. Krishna Prasad Chigurupati, CMD. Worked within the range stated earlier — receivables reduced significantly with higher US sales (lower receivable days). Going forward, US/non-US growth may slightly increase receivable days, but management will still try to control overall working capital blockage for better cash flow.
Partly answered.
What was said
Topic by topic, in the order it was spoken
Strategic Vision & Positioning · Dr. Krishna Prasad Chigurupati (CMD)
- Granules repositioned from volume/cost-led generics to an innovation-led, complex and differentiated pharma platform
- End-to-end integration from molecule to tablet cited as core moat — chemistry, formulation and regulated-market delivery
- GPI moved up to 27th rank among US generic players from 74th five years ago; 4th largest in controlled substances
- Complex generics are now 50% of finished dosages vs ~39% a year ago; peptide CDMO grew over 100% YoY
Q1 FY27 Headline Performance · Dr. Krishna Prasad Chigurupati (CMD)
- Revenue up 22% YoY to ~₹1,477 cr; gross margin healthy at ~65.6%
- EBITDA up 37% YoY to ₹339 cr; PAT up 60% to ₹180 cr
- ROCE improved to 18%; net debt/EBITDA at 0.07x — essentially debt-free
- Operating cash flow of >₹387 cr generated in the quarter
Gagillapur Remediation & Quality Systems · Dr. Krishna Prasad Chigurupati (CMD)
- Remediation at Gagillapur essentially complete; met FDA in January; all responses submitted on time
- 7 of 8 facilities now carry a clean EIR, including GPI Virginia cleared in June
- 330+ customer and regulatory audits over 2 years with no critical observation
- 9 product launches waiting behind Gagillapur clearance; digitalization rollout continuing across the network
Forward Strategic Roadmap · Dr. Krishna Prasad Chigurupati (CMD)
- Near-term: clear Gagillapur, scale Genome Valley (adds ~40% formulation capacity), push complex generics, grow ADHD/oncology/Europe
- Medium-term: differentiated 505(b)(2), first-to-file and day-1 launches — 2 sole first-to-file products already public
- Peptide CDMO scaling across Swiss and India model for fast-growing peptide space
- Long-term: studying select non-solid dosage adjacencies — explicitly under consideration, not commitments
Peptide CDMO Platform Update · Sanjay Kumar (Chief Strategy Officer)
- Q1 peptide CDMO revenue ~CHF5M — broadly in line, moderating sequentially after strong Q4; H2 expected stronger than H1
- Initiated 3 new customer projects (1 pharma, 2 cosmetics); re-engaged on 2 previously discontinued products
- Zurich and Hyderabad R&D now operating as one integrated org; TAG-assisted peptide synthesis work initiated
- India manufacturing footprint next phase: land earmarked for peptide facility at Vizag; FY27 focus on PAT-positive annual result
Detailed Financial Performance · Mukesh Surana (CFO)
- Q1 revenue ₹14,768M, up 22% YoY; growth well-balanced across finished dosages, complex generics and peptide CDMO
- Gross margin 65.6% (+74bps YoY); Q1 insulated from West Asia cost inflation by opening US inventory levels
- EBITDA ₹3,389M, margin 22.9% (+256bps YoY); R&D ₹880M (~6% of sales, +30% YoY) focused on CNS, oncology, MUPS, complex formulations
- Net debt ₹1,012M vs ₹4,021M at FY26 close; NWC/sales improved to 29%; operating cash flow ₹3,874M vs ₹1,003M in Q4 FY26; ROCE 18% vs 17.6% in Q4 FY26
In their words
Let me not begin with a number, but with a conviction. Granules today is no longer a company defined by volume and cost alone. It is becoming an innovation-led complex and differentiated pharmaceutical platform that turns scientific depth into durable, high return cash-backed earnings.
Our net debt to EBITDA is now almost nothing, 0.07x. So for all practical purposes, we are debt free, and we generated over INR387 crores of operating cash this quarter.
We cannot tell the FDA when to come, but we can be ready every single day, and we are ready. And waiting behind that clearance are 9 applications ready to launch.
To check next time
What management committed to on this call, or the dates they gave.
- Gagillapur FDA reinspection timing — binary catalyst unlocking 9 pending US launches.
- Peptide CDMO H2 revenue ramp toward FY27 annual PAT positive target (mgmt: H2 > H1).
- Genome Valley (GLS) utilization progress toward 50%+ by FY27 year-end.
- FY27 capex run-rate toward ₹600 cr (₹89 cr spent in Q1).
- Pricing actions / cost pass-through to mitigate West Asia raw material inflation.
- FY27 EBITDA margin trajectory in the 22-23% range with rising R&D spend (5.5-6% of sales).
Transcript
We have not transcribed this call's recording. Read the company's transcript (PDF).
The stock after the call
| After the call | Close | Stock | Nifty 50 |
|---|---|---|---|
| Next session Tue 21 Jul 2026 | ₹875.70 | −0.05% | −0.21% |
| 5 sessions Mon 27 Jul 2026 | ₹842.80 | −3.80% | −1.00% |
| 20 sessions Mon 17 Aug 2026 | ₹861.55 | −1.66% | +0.20% |
From the close of Mon 20 Jul 2026, ₹876.10: the close before the call day (the call's time is not on file). Adjusted daily closes; the move includes everything else that happened in those sessions.