Granules India Ltd., a vertically integrated pharmaceutical company, today announced its financial results for the quarter ended September 30, 2023, the company announced through an exchange filing.
In Q2FY24, the company witnessed a 3% YoY growth in the value of Revenue from Operations, reaching Rs 11,895 million. The volume growth YoY outpaced the value growth, with robust sales noted in the US region, though tempered by declines in the LATAM and European regions.
Revenue composition for Q2FY24 saw Active Pharmaceuticals Ingredients (API), Pharmaceutical Formulation Intermediates (PFI), and Finished dosages contributing 25%, 12%, and 62%, respectively. The Return on Capital Employed (ROCE) stood at 12.8%.
The company's financial position revealed a net debt of Rs 9,895 million, and the Net debt to EBITDA ratio at 1.41x.
Dr. Krishna Prasad Chigurupati, Chairman & Managing Director of Granules India Limited said, “We are enhancing systems and IT security. EBITDA and PAT numbers this quarter are better as compared to Q1 which were significantly impacted by IT incident. We are also investing in capability and capacity building in terms of capex, manpower, R&D and ERM which will yield results in short to medium term”.
Granules India ltd Shares
The shared of Granules India on Thursday at 2:11 pm IST were at Rs 368.40, up by 2.89 percent.
