NSE: GRANULES | BSE: 532482

Mid-range Performer

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515.80 23.55 (4.78%)

High volume today

NSE 01 Sep, 2025 3:31 PM (IST)

12,515.6

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High in industry

1.1

Beta 1Year

High 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.

Granules India Ltd.

17 Nov 2021

515.80

4.78%

GRANULES INDIA

Accumulate: Granules India Ltd.

Recommendation Target

Geojit BNP Paribas

Granules reported a subdued increase in revenue to Rs.888cr,up 3% YoY owing to increased sale of existing products and new launches especially in the Finished Dosage particles which has resulted in an increase in topline partially offset by loss of MEIS benefit. For the quarter, EBITDA contracted to Rs.151 cr, down 41% YoY mainly due to reductions in margins of almost all products especially paracetamol due to the increase in raw materials prices. Resultantly, adj PAT declined to Rs.80.4cr from Rs.164cr, down 51% (YoY)....

Granules India Ltd. has lost -28.17% in the last 1 Year

Granules India Ltd.

15 Nov 2021

515.80

4.78%

BP Equities Granules India Ltd Q2FY22 Result Update

Buy: Granules India Ltd.

Target

BP Wealth

Granules (GIL) posted revenues of INR 8,883mn with 3.5% YoY growth, which was 5.2% above our estimate of INR 8,446mn. Revenue beat was mainly driven by new product launches and increased market share for existing products in the finished dosages (FD) segment. During Q2, FDs grew by 18% (YoY), PFIs grew by 10% (YoY), and API sales dropped by 25% (YoY). Gross margin contracted by 706bps on account of increase in KSM prices (mainly PAP and Acetic acid prices are up by 100%150%) and loss of MEIS benefit. However, EBITDA Margin witnessed a higher impact (decline of 1286bps to 17% in Q2FY22 ) due to lower profitability in Para products and higher logistic cost and R&D expenses (5.3% vs 2.6% in Q2FY21). The management expects to pass on some of the increases to their customers from Q3FY22 onwards. GIL reported a PAT of INR 807mn, which was below our estimate of INR 1237mn driven by weak operational performance. As per management, the...

Granules India Ltd. has an average target of 608.00 from 4 brokers.

Granules India Ltd.

13 Nov 2021

515.80

4.78%

Elevated KSM prices impact earnings

Neutral: Granules India Ltd.

Recommendation Target

Motilal Oswal

We cut our EPS estimate for FY22E/FY23E by 23%/14%, factoring in a) prolonged concerns on escalated raw material prices, particularly for Paracetamol, and b) China-led supply disruptions resulting in higher logistic costs. We value GRAN at 13x 12M forward earnings to arrive at TP of INR330. Headwinds related to raw materials are expected to ease over the medium term, and GRAN continues its effort towards building the ANDA...

Granules India Ltd. is trading below its 200 day SMA of 516.3

Granules India Ltd.

03 Aug 2021

515.80

4.78%

GRANULES INDIA

Buy: Granules India Ltd.

Target

Geojit BNP Paribas

Granules continued its impressive performance in Q1FY22 with total revenues growing by 16% YoY to Rs.849cr despite the myriad of challenges posed by various business scenarios in the backdrop of covid and logistics disruptions. Strong revenue share from the existing molecules and a sizeable...

Granules India Ltd. is trading below its 200 day SMA of 516.3

Granules India Ltd.

29 Jul 2021

515.80

4.78%

BP Equities Granules India Ltd Q1FY22 Result Update

Buy: Granules India Ltd.

BP Wealth

increase in KSM prices (mainly PAP) and loss of MEIS benefit (~150bps). Favourable forex and Air freight collected from customers was part of Sales which was added to Gross margin in Stock Q1FY21. However, EBITDA Margin managed lesser impact (decline of 126bps to 23.7% in Q1FY22 ) CMP (INR) due to lower other expenses (-4%YoY). GIL reported a PAT of INR 1202mn, which was above our Target Price (INR) estimate of INR 1018mn driven by ordinary operational performance. As per management, the KSM BSE code supply situation is likely to improve with an increase in the number of domestic suppliers and the recommencement of supply from the Chinese source. The management has stated that it is looking to decrease the share of core molecules from 84% currently to 60% by FY25 with focusing on launching higher-margin products across different geographies....

Granules India Ltd. high volume past week with price gain of 12.50.

Granules India Ltd.

29 Jul 2021

515.80

4.78%

On track to build product pipeline as well as capacity

Buy: Granules India Ltd.

Target

Motilal Oswal

Granules India (GRAN) delivered a better-than-expected 1QFY22 performance, led by better off-take in the Intermediates (PFI) and Finished Dosage (FD) segments. The impact of the sharp rise in key starting materials (KSM) for Paracetamol was offset by controlled opex, driving better-thanexpected profitability during the quarter. The improved availability of KSMs and new launches would further enhance the performance going forward. We marginally tweak our EPS estimate for FY22/FY23E, factoring in a) the easing of the supply situation for KSMs and b) higher logistic costs. We continue to value GRAN at 15x 12M forward earnings to arrive at TP of...

Granules India Ltd. has gained 12.50% in the last 1 Week

Granules India Ltd.

29 Jul 2021

515.80

4.78%

Granules lndia

Buy: Granules India Ltd.

Target

ICICI Securities Limited

...

Granules India Ltd. is trading at high day volume of 7.2M.

Granules India Ltd.

14 May 2021

515.80

4.78%

GRANULES INDIA

Buy: Granules India Ltd.

Recommendation Target

Geojit BNP Paribas

revenues growing by 33% YoY to Rs.799cr in Q4FY21. All segments saw strong growth mainly on the back of of successful new launches, increase in market share of finished dosages, as well as customer additions for APIs and PFIs. Disruption in supply of key raw materials from China will impact operating performance in the short term The company has guided a Capex of ~Rs.1,000cr over the next 3 years as it looks to expand capacities for its key products...

Granules India Ltd. has gained 12.50% in the last 1 Week

Granules India Ltd.

12 May 2021

515.80

4.78%

BP Equities Granules India Ltd Q4FY21 Result Update

Buy: Granules India Ltd.

Target

BP Wealth

Healthy Q4; Input cost increase to dent margin in the near term Granules (GIL) posted revenues of INR 7993mn with 33.2% YoY growth, which was 3.7% above our estimate of INR 7710mn. Revenue growth was mainly driven by an increase in the market share of existing products, new customer additions in the API segment and increasing penetration of PFIs as a category. During Q4, FDs grew by 34% (YoY), PFIs grew by 85% (YoY) and API sales were up by 9%(YoY). Better realisations across our existing molecules and new launches contributed to the increase in gross margins by 378bps (YoY). Subsequently, the EBITDA margin expanded by 861bps to a 25.3% level was 167bps higher than our estimate. EBITDA Margin improvement was mainly on account of higher sales and volumes over a lower base of the previous year. The low base of the previous year was...

Deven Choksey released a Buy report for Granules India Ltd. with a price target of 533.0 on 22 Aug, 2025.

Granules India Ltd.

12 May 2021

515.80

4.78%

Strong end to FY21; on track to develop product/add capacity

Buy: Granules India Ltd.

Target

Motilal Oswal

GRAN delivered an in line performance in 4Q and posted its highest ever sales/EBITDA/PAT on an annual basis in FY21. This was largely led by strong traction in ingredients (PFIs) and formulations (FDs). While the company is on track to expand capacity/develop products, a sharp increase in prices of select key starting materials (KSM) may hinder its near-term performance. We lower our FY22E/FY23E EPS estimate by 11%/10% to factor in a price increase/reduced availability of KSM like para-aminophenol (PAP)/acetic anhydride and lower operating leverage. We value GRAN at 15x 12-months...

Granules India Ltd. is trading below its 200 day SMA of 516.3

Is Granules India Ltd. worth buying?

865 Votes:

Buy 84.05%

Sell 10.17%

Hold 5.78%

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