Granules (Inc) is a leading generic player in the Indian pharmaceutical industry with a 2/3rd of its revenue generated from North America and Europe and the rest accomplished from Emerging markets like India. Q1FY19 revenue grew by 18% YoY due to better performance from enhanced plant capacities and stronger domestic performance. EBITDA registered a 13% growth YoY while margin declined by 300bps to 16.8% on account of higher raw material cost (RM). PAT is up by 23% YoY due to higher other income and Joint venture...