NSE: GRANULES | BSE: 532482

Mid-range Performer

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735.30 6.95 (0.95%)

New 52W High in past week

429.8K NSE+BSE Volume

NSE 14 May, 2026 3:31 PM (IST)

18,220.5

Market Cap

High in industry

Beta 1Year

Average volatility

Granules India Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for GRANULES, BSE:532482 Granules India Ltd.

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Granules India Ltd.

02 May 2026

735.30

0.95%

Margin-Led Growth Anchored by Complex Generics and CDMO Expansion

Accumulate: Granules India Ltd.

Target

Deven Choksey

We expect the company to grow its Revenue/EBITDA/PAT at a CAGR of 13.4% / 13.3% / 13.7% for the period of FY26-FY28.

Granules India Ltd. is trading above all available SMAs

Granules India Ltd.

29 Apr 2026

735.30

0.95%

FDF/API/CDMO drive earnings

Buy: Granules India Ltd.

Target

Motilal Oswal

Granules India (GRAN) delivered in-line revenue and higher-than-expected EBITDA/PAT (6% beat) for the quarter. Higher formulation (FDF) and API sales led to improvement in overall momentum for the quarter.

Granules has gained 30.75% in the last 3 Months

Granules India Ltd.

20 Apr 2026

735.30

0.95%

Granules India

Buy: Granules India Ltd.

Target

ICICI Direct

Deven Choksey increased Accumulate price target of Granules India Ltd. to 790.0 on 02 May, 2026.

Granules India Ltd.

31 Mar 2026

735.30

0.95%

Underappreciated US model; multiple optionalities in play

Buy: Granules India Ltd.

Target

Emkay

We initiate coverage of Granules with BUY and SOTP-based Mar-27 TP of Rs800 (implied target EV/EBITDA of ~12x; ~30% upside). Granules fits into our framework of backing companies with a smaller US base + a US portfolio construct with strong near-term growth visibility.

Deven Choksey increased Accumulate price target of Granules India Ltd. to 790.0 on 02 May, 2026.

Granules India Ltd.

26 Feb 2026

735.30

0.95%

GRANULES INDIA

Accumulate: Granules India Ltd.

Target

Geojit BNP Paribas

Granules India Ltd. (Inc.) is a vertically integrated, high growth pharmaceutical company headquartered in Hyderabad, India. The company manufactures Active Pharmaceutical Ingredients (API), Pharmaceutical Formulation Intermediates...

Number of FII/FPI investors increased from 209 to 241 in Mar 2026 qtr.

Granules India Ltd.

24 Jan 2026

735.30

0.95%

FDF-led mix shift drives the beat

Buy: Granules India Ltd.

Target

Motilal Oswal

Granules India (GRAN) delivered higher-than-expected revenue/EBITDA/PAT (beat of 10%/11%/7%) for the quarter. Higher formulation (FDF) and intermediates (PFI) sales led to continued improvement in overall performance for the quarter.

Granules has gained 30.75% in the last 3 Months

Granules India Ltd.

17 Nov 2025

735.30

0.95%

Granules India

Buy: Granules India Ltd.

Target

ICICI Direct

The YoY numbers for the quarter are not comparable due to low base of FY25. Post the Gagillapur USFDA warning letter, the company has focused on developing other facilities and also focused on incremental flings across markets. Besides CNS and ADHD, it is also focusing on Oncology as a segment with dedicated API and formulations block at Vizag. The management expects full revival of Gagillapur facility post clearance from the USFDA (Management meeting with USFDA scheduled in Jan 26) by filing new products. On the margins front, the numbers continued to...

Granules has gained 32.18% in the last 6 Months

Granules India Ltd.

17 Nov 2025

735.30

0.95%

A quarter marked by Regulatory Progress, Capacity Unlocks and Peptide/CDMO Scale-Up

Accumulate: Granules India Ltd.

Recommendation Target

Deven Choksey

Granules India appears to be entering a phase of structural recovery, supported by steady progress on regulatory milestones (notably the remediation of Gagillapur) and a 40% incremental formulation capacity expansion at its Genome Valley site, which should meaningfully reduce supply constraints.

Granules has gained 30.75% in the last 3 Months

Granules India Ltd.

13 Nov 2025

735.30

0.95%

FD remains on a robust footing

Buy: Granules India Ltd.

Target

Motilal Oswal

Granules India (GRAN) delivered better-than-expected operational performance (9.5%/8.3% beat on revenue/EBITDA). However, earnings were in line with estimates due to higher depreciation and tax rate for the quarter.

Granules has gained 30.75% in the last 3 Months

Granules India Ltd.

18 Sep 2025

735.30

0.95%

GRANULES INDIA

Accumulate: Granules India Ltd.

Target

Geojit BNP Paribas

We remain positive on Granules' long-term growth and profitability, supported by new product launches across geographies, a focus on backward integration, and rising market share. Entry into the CDMO segment via the Senn acquisition, along with higher-margin oncology filings, is expected to strengthen financials. Moreover, resolution of regulatory issues at the Gagilapur facility could act as a key re-rating catalyst. Hence, we maintain an Accumulate rating on the...

Deven Choksey increased Accumulate price target of Granules India Ltd. to 790.0 on 02 May, 2026.

Is Granules India Ltd. worth buying?

871 Votes:

Buy 84.16%

Sell 10.1%

Hold 5.74%

RESEARCH REPORTS

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