Granules India Ltd's Q3FY19 consolidated net profit rises 72.26% yoy to Rs60.32cr : Beats Estimates

The company’s consolidated revenue stood at Rs631.78cr, up 53.82% yoy and 8.76% qoq.

Jan 30, 2019 09:01 IST India Infoline Research Team

Granules India Ltd Q3FY19

Consolidated Results Q3FY19: (Rs. in cr)

Q3FY19 YoY (%)
Revenue 631.78 53.8
EBITDA 113.30 53.1
EBITDA Margin (%) 17.9 [9]
Net Profit (adjusted) 60.32 72.3
***EBITDA margin change is bps

Granules India’s revenue in Q3FY19 grew by 53.8% yoy to Rs631.8cr vs. Rs410.7cr in Q3FY18. EBITDA in Q3FY19 grew by 53% yoy to Rs113.3cr vs. Rs74cr in Q3FY18. EBITDA margins in Q3FY19 stood at 17.9% vs. 17.3% in Q2FY19 and 18% in Q3FY18. PAT grew by 72.3% yoy to Rs60.3cr in Q3FY19. We had expected revenue/EBITDA/PAT of Rs538cr/Rs86.9cr/Rs45.6cr, hence the result has come above our expectations.

Other highlights
  • The strong result was due to better sales from FD segment and increased contribution from North American market.
  • The contribution from JVs was at Rs2cr in Q3FY19 vs. Rs13cr in Q2FY19 due to cyclical nature of CRAMS business and the annual maintenance shut down at China JV facility.
  • Company has appointed Mr. Robert George Cunard as an Additional independent Director. He is currently Operating Partner with a US healthcare PE fund HealthEdge Investment Partners and was a CEO of Aurobindo Pharma’s US subsidiary and ex-executive of Mylan and Teva.

Technical View:

Granules India Ltd ended at Rs. 94.40, up by 6 points or 6.79% from its previous closing of Rs. 88.40 on the BSE.
The scrip opened at Rs. 94.40 and touched a high and low of Rs. 94.40 and Rs. 94.40 respectively. A total of 41,522 (NSE+BSE) shares were traded on the counter. The stock traded below its 200 DMA.

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