Granules India Q2FY23 PAT up 79.9% at Rs145.10 crore as EBITDA margins expand by 400 bps yoy

25 Oct 2022 , 01:05 PM

Granules India Ltd reported 29.54% growth in total revenues for the September 2022 quarter on consolidated basis at Rs1,150.73cr.

Revenue growth was 12.87% in sequential terms. Granules saw revenue share of the US increase by nearly 400 bps to 57.8% in the quarter.

In terms of revenue mix, APIs contributed 20%, PFI 20% and finished dosages 51% of revenues. In Q2FY23,

Granules filed for 2 ANDAs, 2 DMFs in the US and 3 CEPs. It also received approval for 2 ANDAs during the current quarter ended in September 2022.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 79.85% at Rs145.10 crore while profits were up 13.7% sequentially.

On a yoy basis, EBITDA growth was 61% while EBITDA grew 155 QOQ. EBITDA margins expanded yoy by 400 bps from 17% to 21%.

PAT margins were smart at 12.61% in the Sep-22 quarter compared to 9.08% in the Sep-21 quarter and 12.51% in June 2022 quarter. Free cash flows grew 4-fold on a yoy basis at Rs124 crore in Q2FY23 while the ROCE increased by 320 basis points yoy at 25% in Q2FY23.

Financial highlights for Sep-22 compared yoy and sequentially

	Granules India
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 1,150.73	₹ 888.33	29.54%	₹ 1,019.56	12.87%
Net Profit (Rs cr)	₹ 145.10	₹ 80.68	79.85%	₹ 127.57	13.74%
Diluted EPS (Rs)	₹ 5.82	₹ 3.24		₹ 5.13
Net Margins	12.61%	9.08%		12.51%