Granules India
Scale, cost-leadership player vertically integrated across API, pellets/granules (PFI) and finished dosages for high-volume molecules; moving into higher-value extended-release and new sites.
A full research profile for one company — what it does, how its financials have trended, how the market values it, and a balanced bull/bear/base investment memo.
Scan the top row for the headline numbers, read the charts for trends, check the three gauge scores, then read the auto-generated memo at the bottom. Sources for every figure are linked at the very bottom.
- EBITDA
- — Earnings before interest, tax, depreciation & amortisation — a proxy for operating cash profit.
- PAT
- — Profit After Tax — the bottom-line net profit.
- FCF
- — Free Cash Flow — cash left after running the business and capital spending.
- ANDA
- — Abbreviated New Drug Application — the US FDA filing to sell a generic drug.
Revenue
₹ crore · FY
EBITDA
₹ crore · FY
Margins
EBITDA & PAT margin %
R&D Spend
₹ crore · FY
Free Cash Flow
₹ crore · FY
Revenue Mix
By geography / segment
Quality Score
Growth Score
Regulatory Risk
Snapshot
Business Model
How the company makes money
Vertically integrated maker of large-volume molecules (Paracetamol, Metformin) from API→PFI→FD.
Vertical integration + new ER molecules + capacity
Commodity pricing & Gagillapur USFDA remediation
Peer Group
Click to compare
| Peer | Rev CAGR | EBITDA% | ROCE | P/E |
|---|---|---|---|---|
| Granules India | 19% | 21% | 15% | 31x |
| Rubicon Research | 81% | 20.7% | 39.9% | 104x |
| Alembic Pharmaceuticals | -5% | 15.2% | 13% | 20x |
| Aurobindo Pharma | 8% | 20% | 13% | 23x |
| Laurus Labs | 18% | 20% | 17.8% | 83x |
Investment Memo
Auto-generated from the data layer — illustrative, not advice
- • Vertical integration + new ER molecules + capacity underpins a 19% 5Y revenue CAGR.
- • Operating leverage as scale builds toward higher margins (currently 21% EBITDA).
- • Capacity already in place to support the next growth phase.
- • Commodity pricing & Gagillapur USFDA remediation.
- • ~79% US exposure leaves earnings sensitive to price erosion and FDA action.
- • Re-rating depends on proving R&D/return discipline.
Granules India screens as a improving api franchise. With revenue of ₹4.5K Cr growing ~19% and 21% EBITDA margins, the base case is steady compounding driven by vertical integration + new er molecules + capacity, while watching commodity pricing & gagillapur usfda remediation.
Trades at 31x P/E, 14.0x EV/EBITDA and 3.7x P/B. Reasonable versus growth — re-rating optionality if execution improves.
- 1 USFDA facility status & ANDA approval cadence
- 2 Gross-margin trajectory & new-launch contribution
- 3 R&D productivity (filings/approvals per ₹ of R&D)
- 4 Capital allocation — capex payback & M&A discipline
Mix is Q4FY25 (North America ~79%, API ~12%). Gagillapur facility under USFDA remediation. R&D% & EV/EBITDA modeled.