Consolidated Income from operations grew by 18% year on year to Rs 997 crore in Q3 FY22 as compared to Rs 845 crore posted in Q3 FY21. Profit before tax declined 26.7% to Rs 134.77 crore in Q3 FY22 over Q3 FY21.
EBITDA stood at Rs 174 crore in Q3 FY22, falling nearly 18% year on year. EBITDA margin slipped to 17% in Q3 FY22 from 25% in Q3 FY21. Granules said overall gross margin recorded is lower due to change in segment mix in the total revenue. Share of Finished dosage has come down from 57% in Q2 to 46% in Q3 due to higher inventory build-up at USA and year end.
On the segment front, FD segment grew by 8%, PFI grew by 32% and API 24% when compared year on year. During the quarter the company filed two ANDA, two Canadian Dossiers, one US DMF, one CEP and received three ANDA approvals
Commenting on the results, Dr Krishna Prasad Chigurupati, chairman & MD of Granules India 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 stakeholders value.?
Meanwhile, the companys board declared its third interim dividend of Re 0.25 per equity share.
Hyderabad-based Granules India is a vertically integrated fast growing Indian pharmaceutical company. It is present in the manufacturing of entire value chain – from Active Pharmaceutical Ingredients (APIs), Pharmaceutical Formulation Intermediates (PFIs) and Finished Dosages (FDs).
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