Tuesday, Jan 31 2023 | Time 22:02 Hrs(IST)
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Business Economy


Granules India’s consolidated net profit up 23 pc Y-0-Y

Hyderabad, Jan 24 (UNI) Granules India on Tuesday reported a 23 per cent increase in consolidated net profit to Rs 124 crore in Q3 FY23 as against Rs 101 crore in the corresponding quarter of the previous year.
The total revenue from operations also increased 15 per cent to Rs 1,146 crore during the period from as against Rs 997 crore in the same period last year, Hyderabad-based vertically integrated pharmaceutical company said in a release here on Tuesday.
The company’s EBITDA improved to 20 per cent In Q3FY23 from 17 per cent in Q3FY22.
Revenue share from the USA increased to 49.4 percent in Q3 FY23 as compared to 43.1 percent YoY.
Active Pharmaceuticals Ingredients (API), Pharmaceutical Formulation Intermediates (PFI), and Finished dosages contribute 35.8 percent, 18.6 percent, and 45.6 percent of revenue from operations respectively.
While Operating Cash flow is quite healthy at INR 161 crore, Free cash flow at INR (32.5) crore has got impacted due to additional deployment of INR 50 crore in our new expansion plan with green initiatives in Kakinada and INR 42.5 crore for land acquisition in Visakhapatnam (both in Andhra Pradesh).
Commenting on the results, Dr. Krishna Prasad Chigurupati, Chairman & Managing Director of Granules India Limited said, “In the current quarter we continued to cater to higher demand for Paracetamol. Opportunities in Paracetamol are likely to continue and our geography expansion strategy in Europe is likely to yield higher turnover and EBITDA in future periods. We are also seeing price and margin erosion in Q3 and expect a similar trend in Q4.

In the current quarter, we have changed our 3PL partner in the USA to a better partner who has better automation and digital capabilities. However, during the transition we have suffered some sales loss in the USA and that is the reason for better standalone financial performance as compared to consolidated financial performance. We expect that smoothening of the logistics in the USA could take a quarter more, he added.
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