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.

09 Jun 2020

583.40

0.27%

GRANULES INDIA

Buy: Granules India Ltd.

Target

Geojit BNP Paribas

For FY20, total revenues grew by 14% as the company launched 5 new products in the U.S which have gained traction. The share of revenues from FDs have grown from 44% in FY19 to...

Granules India Ltd. is trading above all available SMAs

Granules India Ltd.

04 Jun 2020

583.40

0.27%

BP Equities Granules India Ltd Q4FY20 Result Update

Sell: Granules India Ltd.

Recommendation Target

BP Wealth

Granules (GIL) posted revenues of INR 5,999mn with 2.2% YoY decline, which was ~14% below our estimate of INR 6945mn. Revenue growth was mainly impacted by the restriction imposed on export of Paracetamol API, PFI and FD's (which was uplifted for PFI & FD's in the month of April and for the API in the month of May) and disruption in logistics (revenue loss of INR600 to700mn). However, post lifting of restriction on the export of paracetamol, capacity utilization has improved significantly now. Gross margin improved (754bps YoY) due to higher formulation sales (57% of revenue vs 52% in Q4FY20). However, EBITDA margin expanded by barely 75bps to 16.7% level was 279bps lower than our estimate due to higher employee cost (up 43.8%) and one time INR 217 Mn impairment of...

Granules India Ltd. has an average target of 632.00 from 4 brokers.

Granules India Ltd.

03 Jun 2020

583.40

0.27%

Granules India

Buy: Granules India Ltd.

Anand Rathi

Outlook and Valuation. Its dominance in key APIs (paracetamol, ibuprofen, metformin) would help Granules emerge a prime beneficiary as the Covid-19 outbreak has led to a surge in demand for such drugs. Granules is likely to retain strong traction for the next couple of years driven by formulations and the healthy contribution from new capacities. We expect ~25%/~23% revenue/PAT CAGRs over FY20-22. At the CMP, the stock trades at 9x FY22e EPS of `20. Risks: 38% of promoters' holdings have been pledged;...

Mutual Funds have decreased holdings from 12.24% to 6.54% in Sep 2025 qtr

Granules India Ltd.

03 Feb 2020

583.40

0.27%

GRANULES INDIA

Buy: Granules India Ltd.

Recommendation Target

Geojit BNP Paribas

Q3FY20 revenue grew by 11% YoY driven by higher sales in Formulations (FD) (~23%YoY) segment and PFI (Pharmaceutical formulation Intermediaries )(~8%YoY). EBITDA registered a 44% growth YoY while margin improved by 300bps to 23% on account of better capacity utilisation which is also reflected in the PAT growth of 59% YoY. Recognized an impairment loss of Rs 32crs in Q3FY20 on sales of joint venture (JV) business Biocause (China) which will be offset in...

Number of FII/FPI investors decreased from 199 to 189 in Sep 2025 qtr

Granules India Ltd.

03 Feb 2020

583.40

0.27%

Ashika - Stock Picks - Granules India Ltd. - February 2020

Buy: Granules India Ltd.

Ashika Research

Granules India Ltd. (GIL) continue to deliver strong earnings in Q3FY20. Revenue growth was marginally below expectation while EBITDA improving further. Revenue grew by 11.4% YoY to Rs. 704 cr in Q3FY20 due to increased contribution from regulated markets along with higher contribution from Pharmaceutical Formulation Intermediates (PFI) (up 8% YoY) and Finished Dosage (FD) (up 23% YoY). Geographically, North America (up...

Number of FII/FPI investors decreased from 199 to 189 in Sep 2025 qtr

Granules India Ltd.

22 Jan 2020

583.40

0.27%

BP Equities Granules India Ltd Q3FY20 Result Update

Buy: Granules India Ltd.

Target

BP Wealth

Granules (GIL) posted revenues of INR 7040mn with11.4% YoY increase, which was 5% below our estimate of INR 6,337mn. Revenue growth was mainly driven by Formulation (FD) (23% YoY growth) segment, led by new product launches and better pricing in existing products in the regulated market. EBITDA margin expanded by 524bps to 23.2% level was 388bps higher than our estimate due to 755 bps improvement in gross margin led by improved product mix. During the quarter the company charged one time exceptional item of INR 320mn provided for impairment in Biocause. Adj. to exceptional item, PAT came above our estimate at INR961mn (est INR798mn) driven by the operationally superior performance. R&D; spend was at 3.2% during Q3FY20, 101bps higher than last year same quarter. GIL's board approved buy back of 12.5mn (4.92% of equity capital) shares at INR200 per...

Number of MF schemes decreased from 28 to 17 in Sep 2025 qtr

Granules India Ltd.

21 Jan 2020

583.40

0.27%

Another quarter of record high revenue/EBITDA margin

Buy: Granules India Ltd.

Target

Motilal Oswal

21 January 2020 GRAN is on a sustained earnings growth trajectory, led by higher business from forward integration, expanding its portfolio and reach. We raise our EPS estimate by 6.5%/7.3%/2.2% for FY20/21/22 to factor in (a) increased formulation business on account of ANDA launches in the US and (b) improving profitability due to forward integration and addition of higher- margin API molecules in the portfolio. Reiterating Growth was mainly driven by strength in the formulation dosage (FD) segment (+23% YoY; 54% of total sales). Gross margin expanded 750bp YoY to 50.7%, led by the higher share of formulation revenue. 20.2%), partly offset by higher other expenses (+160bp YoY) and staff cost (+70bp YoY). Strong EBITDA growth and a lower tax rate led to PAT growth of 56.4% YoY to INR944m (our estimate INR876m). GRAN reported one-time provision charge for impairment of INR320m related to the divestment of Granules Biocause Pharma, resulting in lower reported PAT of INR641m.

Granules India Ltd. has an average target of 632.00 from 4 brokers.

Granules India Ltd.

08 Nov 2019

583.40

0.27%

Initiating Coverage:Granules India

Buy: Granules India Ltd.

Target

Axis Direct

Granules India (GRAN) is a vertically integrated pharmaceutical company, headquartered in Hyderabad, India. GRAN is one of the largest manufacturers of key APIs like Paracetamol, Ibuprofen, Metformin, Guaifenesin and Methocarbamol for developed and emerging markets.

Number of MF schemes decreased from 28 to 17 in Sep 2025 qtr

Granules India Ltd.

25 Oct 2019

583.40

0.27%

GRANULES INDIA

Accumulate: Granules India Ltd.

Recommendation Target

Geojit BNP Paribas

Q2FY20 revenue grew by 20% YoY driven by higher sales in Formulations (FD) (~34%YoY) segment and PFI (Pharmaceutical formulation Intermediaries )(~37%YoY). Granules to exit the JV business in Omnichem (India) and Biocause (China) citing lower capacity utilization and issues related to environment compliances in China. EBITDA registered a 37% growth YoY while margin improved by 260bps to 19.7% on account of better capacity utilisation while...

Number of FII/FPI investors decreased from 199 to 189 in Sep 2025 qtr

Granules India Ltd.

24 Oct 2019

583.40

0.27%

BP Equities Granules India Ltd Q2FY20 Result Update

Sell: Granules India Ltd.

BP Wealth

Granules (GIL) posted revenues of INR 6,995mn with 20.4% YoY increase, which was 10% higher than our estimate of INR 6,337mn. Revenue growth was mainly driven by PFIs (43% YoY growth) and Formulation (FD) (34% YoY growth) segments, led by new product launches and better pricing in existing products in the regulated market. EBITDA margin expanded by 322bps to 20.5% level was 159bps higher than our estimate due to 322 bps improvement in gross margin led by improved product mix and easing RM costs. Adj.PAT came above our estimate at INR958mn (est INR671mn) driven by the operationally superior performance. During the quarter, GIL sold its 50% stake in Granules Omnichem JV for ~INR1,099mn( 2.2x Book Value) to JV partner. As it does not delivering desired result with lower capacity utilisation and lower return on capital. GIL is also initiated to sell its stake in...

Number of FII/FPI investors decreased from 199 to 189 in Sep 2025 qtr

Is Granules India Ltd. worth buying?

868 Votes:

Buy 84.1%

Sell 10.14%

Hold 5.76%

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