Granules India

₹398.6 6.6 | 1.7%

WEBSITE BSE:532482 NSE : GRANULES (I) 10 May, 16:01

Market Cap ₹9661 Cr.

Stock P/E 24.4

P/B 3.1

Current Price ₹398.6

Book Value ₹ 127.6

Face Value 1

52W High ₹480.5

Dividend Yield 0.38%

52W Low ₹ 272

Edit Ratio

Granules India Research see more...

Overview Inc. Year: 1991Industry: Pharmaceuticals & Drugs

Granules India Ltd is a pharmaceutical company with presence across the pharmaceutical production value chain, inclusive of active pharmaceutical elements (APIs), pharmaceutical formulation intermediaries (PFIs) and finished dosages (FDs). The Company's business operations comprises 3 regions: core enterprise, emerging enterprise, and contract research and manufacturing services (CRAMS). Its products in Core commercial enterprise comprises Paracetamol, Ibuprofen, Guaifenesin and Metformin. The Company operates a healthcare department, Granules Consumer Healthcare (GCH). The Company, via an acquisition, has access to over 10 APIs, in addition to intermediates in healing classes, such as anti-histaminic, antihypertensive and anti-convulsants. The Company's PFI merchandise consists Compresso PAP 97 S, Compresso PAP 90 CPC and Paracetamol Caffeine Combo 77.4. The Company's FDs include Acetaminophen and Methocarbamol and Paracetamol/Acetaminophen,.

Granules India Share Price

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Peer Comparison

Granules India Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	888	997	1030	1020	1151	1146	1196	986	1189	1156
Other Income	4	5	4	5	5	1	3	0	2	1
Total Income	893	1002	1034	1024	1156	1147	1199	986	1191	1156
Total Expenditure	737	823	837	808	908	915	967	849	977	905
Operating Profit	156	179	197	216	248	232	231	137	215	251
Interest	5	5	6	7	13	17	19	22	26	29
Depreciation	40	39	40	43	44	48	49	49	53	52
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	110	135	150	166	190	167	164	65	136	170
Provision for Tax	30	34	39	38	45	43	44	18	34	44
Profit After Tax	81	101	111	128	145	124	120	48	102	126
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	81	101	111	128	145	124	120	48	102	126
Adjusted Earnings Per Share	3.3	4.1	4.5	5.1	5.8	5.1	4.9	2	4.2	5.2

Granules India Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	764	1096	1294	1357	1411	1685	2279	2599	3238	3765	4512	4527
Other Income	2	4	4	6	10	11	27	37	27	18	14	6
Total Income	766	1100	1297	1363	1420	1695	2306	2635	3264	3783	4526	4532
Total Expenditure	679	938	1084	1081	1112	1406	1895	2073	2382	3043	3599	3698
Operating Profit	87	163	213	282	309	289	411	562	882	740	928	834
Interest	18	20	32	37	32	33	28	27	26	23	56	96
Depreciation	23	30	53	58	72	76	105	137	151	159	184	203
Exceptional Income / Expenses	0	0	0	0	0	0	0	28	0	0	0	0
Profit Before Tax	46	112	128	186	230	196	326	451	704	558	687	535
Provision for Tax	14	37	37	61	65	63	89	116	155	145	171	140
Profit After Tax	33	75	91	125	165	133	236	335	549	413	517	396
Adjustments	0	0	0	-2	0	0	0	0	0	0	0	0
Profit After Adjustments	33	75	91	123	165	133	236	335	549	413	517	396
Adjusted Earnings Per Share	1.6	3.7	4.5	5.7	7.2	5.2	9.3	13.2	22.2	16.6	21.3	16.3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	20%	20%	22%	19%
Operating Profit CAGR	25%	18%	26%	27%
PAT CAGR	25%	16%	31%	32%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	33%	3%	29%	27%
ROE Average	19%	21%	20%	20%
ROCE Average	20%	21%	19%	18%

Granules India Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	275	356	431	662	904	1304	1529	1844	2173	2587	2835
Minority's Interest	0	0	0	0	0	0	0	0	0	1	0
Borrowings	175	309	303	184	124	433	479	422	334	234	149
Other Non-Current Liabilities	27	35	53	62	64	55	74	64	32	49	106
Total Current Liabilities	206	293	415	655	787	878	896	893	1173	1642	1814
Total Liabilities	683	992	1203	1563	1879	2670	2979	3223	3713	4512	4903
Fixed Assets	263	482	617	560	644	777	944	1204	1332	1541	1911
Other Non-Current Assets	127	130	84	185	406	707	752	390	384	465	418
Total Current Assets	289	377	500	818	828	1187	1282	1519	1997	2505	2574
Total Assets	683	992	1203	1563	1879	2670	2979	3223	3713	4512	4903

Granules India Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	32	42	42	55	124	42	108	83	186	42	185
Cash Flow from Operating Activities	91	108	150	151	188	-1	262	476	432	332	739
Cash Flow from Investing Activities	-128	-255	-146	-162	-326	-462	-270	-161	-277	-380	-191
Cash Flow from Financing Activities	46	147	19	86	56	529	-17	-213	-299	190	-440
Net Cash Inflow / Outflow	10	0	24	75	-82	66	-25	103	-144	142	107
Closing Cash & Cash Equivalent	42	42	65	130	42	108	83	186	42	185	292

Granules India Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	1.62	3.71	4.45	5.68	7.19	5.22	9.3	13.19	22.18	16.64	21.34
CEPS(Rs)	2.77	5.18	7.03	8.46	10.32	8.23	13.45	18.58	28.3	23.04	28.97
DPS(Rs)	0.2	0.35	0.5	0.65	0.9	1	1	1	1.5	1.5	1.5
Book NAV/Share(Rs)	13.46	17.41	21.03	29.2	39.4	51.17	59.73	71.8	86.85	103.62	116.38
Core EBITDA Margin(%)	10.85	14.17	15.76	19.95	20.82	16.46	16.17	17.96	21.65	19.17	20.24
EBIT Margin(%)	8.16	11.89	12.07	16.13	18.25	13.54	14.9	16.35	18.49	15.44	16.47
Pre Tax Margin(%)	5.91	10.06	9.63	13.45	16.01	11.58	13.71	15.43	17.83	14.82	15.23
PAT Margin (%)	4.16	6.74	6.84	9.03	11.46	7.84	9.95	11.47	13.91	10.96	11.45
Cash Profit Margin (%)	7.1	9.41	10.8	13.25	16.45	12.34	14.4	16.15	17.74	15.18	15.54
ROA(%)	5.19	8.98	8.28	9.03	9.56	5.83	8.37	10.82	15.84	10.04	10.97
ROE(%)	12.63	24.11	23.23	23.51	21.45	12.05	16.78	20.06	27.64	17.49	19.18
ROCE(%)	12.93	19.87	18.78	20.15	18.3	11.92	14.74	18.19	25.42	17.37	19.63
Receivable days	38.66	29.73	34.04	67.6	100.84	112.83	100.03	83.34	65.94	81.94	75.78
Inventory Days	57.37	50.77	54.76	63.11	66.49	59.23	51.03	51.34	56.39	85.35	86.07
Payable days	65.41	64.31	78.96	92.81	106.63	99.83	86.9	96.93	117.79	114.29	112.38
PER(x)	5.86	6.89	19.09	21.13	19.26	19.81	12.29	10.89	13.67	18.4	13.62
Price/Book(x)	0.7	1.47	4.04	4.11	3.52	2.02	1.91	2	3.49	2.96	2.5
Dividend Yield(%)	2.11	1.37	0.59	0.54	0.65	0.97	0.87	0.7	0.49	0.49	0.52
EV/Net Sales(x)	0.55	0.84	1.66	2.29	2.68	2.07	1.67	1.64	2.5	2.2	1.73
EV/Core EBITDA(x)	4.82	5.65	10.11	11.05	12.23	12.07	9.27	7.58	9.16	11.19	8.39
Net Sales Growth(%)	16.88	43.37	18.05	4.91	3.93	19.43	35.29	14.02	24.59	16.29	19.84
EBIT Growth(%)	6.72	107.5	20.72	39.17	17.42	-12.57	54.54	35.08	52.81	-20.45	27.85
PAT Growth(%)	8.73	131	20.84	37.38	31.74	-19.41	78.3	41.87	63.82	-24.88	25.16
EPS Growth(%)	8.39	129.23	19.99	27.52	26.74	-27.39	78.01	41.87	68.17	-24.98	28.24
Debt/Equity(x)	1	1.25	1.12	1.01	0.73	0.75	0.65	0.49	0.39	0.43	0.38
Current Ratio(x)	1.4	1.29	1.21	1.25	1.05	1.35	1.43	1.7	1.7	1.53	1.42
Quick Ratio(x)	0.74	0.69	0.66	0.86	0.71	1.03	1	1.21	1.04	0.93	0.79
Interest Cover(x)	3.62	6.5	4.96	6.02	8.12	6.93	12.44	17.69	27.8	25.04	13.29
Total Debt/Mcap(x)	1.42	0.85	0.28	0.25	0.21	0.37	0.34	0.24	0.11	0.14	0.15

Granules India Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	41.98	41.98	41.98	41.93	42.02	42.02	42.02	41.96	41.96	41.96
FII	21.38	23.19	23.13	22.35	23.67	23.9	21.35	21.48	18.78	19.57
DII	4.34	3.97	3.03	4.32	4.75	5.03	6.68	7.06	10.15	10.7
Public	32.3	30.85	31.85	31.4	29.56	29.05	29.95	29.5	29.1	27.77
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	10.41	10.41	10.41	10.41	10.17	10.17	10.17	10.17	10.17	10.17
FII	5.3	5.75	5.74	5.55	5.73	5.78	5.17	5.2	4.55	4.74
DII	1.08	0.99	0.75	1.07	1.15	1.22	1.62	1.71	2.46	2.59
Public	8.01	7.65	7.9	7.8	7.15	7.03	7.25	7.15	7.05	6.73
Others	0	0	0	0	0	0	0	0	0	0
Total	24.8	24.8	24.8	24.83	24.2	24.2	24.2	24.24	24.24	24.24

Pros

Company has delivered good profit growth of 31% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 21%
Debtor days have improved from 114.29 to 112.38days.
Company has reduced debt.
Company is almost debt free.

Cons

Promoter holding is low: 41.96%.
Stock is trading at 3.1 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Granules India News

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Granules India

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Granules India Research see more...

Overview Inc. Year: 1991Industry: Pharmaceuticals & Drugs

Granules India Share Price

Alert Data

Quarterly Price

Peer Comparison

Granules India Quarterly Results

Granules India Profit & Loss

Growth Rates

Granules India Balance Sheet

Granules India Cash Flow

Granules India Ratios

Granules India Shareholding Pattern

Granules India News

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