Granules India reports Q3 PAT down by 31.3% YoY

8 Feb 2022 , 05:24 PM

Granule India Ltd.’s revenue from operations for December 2021 quarter stood at Rs 996.80 crore as against Rs 844.50 crore for December 2020 quarter, up by 18% YoY, driven mainly by new launches and elevated sales prices.

Its EBITDA for Q3 FY’22 was reported at Rs 173.70 crore against Rs 211.60 crore for Q3 FY’21, decreasing 21.82% YoY. EBITDA percent drop is on account of an increase in the cost of KSM’s and solvents and also an increase in higher logistic cost and R&D expense.

Its PAT for the quarter ended December 2021 stood at Rs 100.90 crore against Rs 146.80 crore for the quarter ended December 2020, down by 31.3% YoY.

EBITDA margin for the quarter ended December 2021 settled at 17.4% as against 25.10% for the previous corresponding quarter.

Company’s FD segment grew by 8%, PFI grew by 32% and API 24% when compared to YoY. Increase in Paracetamol across all the segments by Rs 107.70Cr and increase in other molecules by Rs 55.60Cr in view of steady market capture by newly launched molecules. For the consecutive two quarters, revenue share from other molecules has maintained at 19%.

Granules India ended at Rs309.90 down by Rs2.05 or 0.66% from its previous closing of Rs311.95 on the BSE. The scrip opened at Rs310.50 and touched an inttraday high and low of Rs315.85 and Rs301.45 respectively.

Commenting on the results, Dr Krishna Prasad Chigurupati, Chairman & Managing Director of Granules India Limited said, “I am pleased to share that we are slowly getting back to the normal as is evident from the revenue growth which came in despite the continuing disruptions and challenging environment such as raw material price increase, unstable supply from China and PAP supply constraints. We expect the situation to improve in coming quarters and remain focused on execution and agile to the market opportunities. We at Granules are now ready to take a leap to transform our business to the next level. We are strengthening management capabilities and are investing in R&D infrastructure, scientific talent, and partnerships in science & technology which will lead to sustainability, leadership, backward integration and focus on quality of our portfolio. Our initiatives will bring in the triple bottom line in the form of social, environmental, and financial advantages resulting in a greater stakeholder’s value.”