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Stock Analysis

Corporate Announcements

16th Apr 26

Impact Rating: 7

Investors and analysts can join Granules India's Q4 and full financial year earnings conference call on April 29, 2026, at 5:00 PM IST to discuss financial performance and business updates.

16th Apr 26

Impact Rating: 1

No description available.

8th Apr 26

Impact Rating: 6

Granules India Limited has formally informed the National Stock Exchange that it does not currently classify as a Large Corporate under the SEBI's specific criteria, and will update the exchange if its status changes.

4th Apr 26

Impact Rating: 6

Granules India's US subsidiary underwent a routine US FDA cGMP audit, which resulted in four procedural observations. The company is committed to addressing them.

31st Mar 26

Impact Rating: 8

Granules India's subsidiary, Granules Life Sciences, successfully passed a US FDA inspection of its oral solid dosage manufacturing facility in Telangana, concluding with a Voluntary Action Indicated (VAI) classification and no recommended regulatory actions.

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	Sun Pharma.Inds.	1782.60	37.05	427717.60	0.90	3124.95	2.56	14478.31	8.93	20.21	54964.01	30.12	11543.96	3117.95	5.50	12.97	0.07
2.	Divi's Lab.	6642.50	70.94	176292.38	0.45	689.00	35.10	2715.00	16.12	20.44	10029.00	32.37	2485.00	689.00	11.44	13.53	0.01
3.	Torrent Pharma.	4092.20	63.93	138496.88	0.78	591.00	32.49	3302.00	14.30	27.05	12248.00	32.60	2166.53	600.17	16.39	13.26	0.33
4.	Cipla	1467.90	21.80	118607.61	0.89	1353.37	3.73	7589.44	7.64	22.72	28349.57	25.40	5441.14	1351.17	3.60	14.72	0.01
5.	Dr Reddy's Labs	1242.80	17.97	103748.51	0.64	1336.80	7.28	8828.30	9.83	22.69	34310.00	24.64	5772.20	1347.10	2.88	12.95	0.16
6.	Lupin	2214.30	23.36	101043.20	0.54	1484.83	73.34	7047.51	24.23	21.30	24750.69	27.25	4324.63	1477.92	5.15	12.41	0.32
7.	Mankind Pharma	2311.80	54.55	95387.58	0.04	520.18	-22.00	3697.16	20.77	15.98	13545.67	24.12	1748.55	511.51	6.24	8.89	0.55
8.	Granules India	610.95	40.97	14831.90	0.25	120.61	191.40	891.61	56.98	10.88	3312.04	19.32	362.03	120.61	4.18	5.86	0.29
–	Median: 150 Co.	409.67	31.12	1757.37	0.11	13.03	12.32	157.2	10.84	14.85	582.87	15.96	44.55	13.73	3.15	8.6	0.22

Quarterly Results

Standalone figures in ₹ crores

	Dec 2022	Dec 2023	Dec 2024	Jun 2023	Jun 2024	Jun 2025	Mar 2023	Mar 2024	Mar 2025	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales	1,032	984	842	821	852	810	1,014	940	768	964	1,009	568	892
Expenses	794	738	674	664	675	667	797	751	651	778	801	465	680
Operating Profit	239	247	168	157	177	144	217	189	117	186	208	103	211
Other Income	-1	1	6	0	2	1	3	3	61	4	1	3	8
Profit before tax	188	192	119	107	126	91	168	137	127	146	156	56	162
Tax %	25%	26%	24%	25%	25%	24%	25%	29%	26%	25%	26%	26%	26%
Net Profit	140	143	90	80	94	69	125	97	94	109	116	41	121
EPS in Rs	5.78	5.89	3.72	3.30	3.87	2.86	5.18	4.01	3.88	4.39	4.79	1.71	4.97

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	990	1,213	1,328	1,349	1,647	2,098	2,310	3,135	3,238	3,931	3,755	3,030	3,312
Expenses	826	1,001	1,058	1,054	1,353	1,766	1,816	2,273	2,589	3,092	2,951	2,464	2,672
Operating Profit	163	212	270	296	294	333	494	862	649	840	804	567	640
Other Income	3	1	6	15	24	28	187	13	13	9	3	70	76
Interest	19	31	37	32	33	28	27	24	16	39	72	63	61
Depreciation	26	50	58	71	76	91	102	118	126	146	144	146	156
Profit before tax	121	132	181	207	208	242	553	733	520	664	591	427	499
Net Profit	81	95	121	143	139	162	444	553	387	499	436	319	374
EPS in Rs	3.99	4.66	5.57	6.25	5.48	6.37	17.47	22.32	15.59	20.61	17.99	13.17	15.43
Dividend Payout %	9%	11%	12%	14%	18%	16%	6%	7%	10%	7%	8%	11%	–

Balance Sheet

Standalone figures in ₹ crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	20	20	22	23	25	25	25	25	25	24	24	24	24
Reserves	324	405	643	861	1,253	1,398	1,786	2,138	2,506	2,675	3,087	3,379	3,524
Borrowings	330	412	641	656	978	991	891	849	1,061	923	1,065	899	1,014
Other Liabilities	181	270	262	314	382	410	444	672	781	881	830	850	881
Total Liabilities	856	1,107	1,568	1,855	2,639	2,824	3,146	3,683	4,373	4,503	5,006	5,152	5,443
Fixed Assets	336	522	523	606	660	700	927	985	1,171	1,330	1,324	1,405	1,423
Gross Block	473.52	725.69	784.53	937.36	1,065.65	1,195.01	1,522.83	1,693.02	1,949.12	2,200.71	2,312.27	2,499.41	–
Accumulated Depreciation	137.84	203.53	261.24	331.78	405.50	495.06	595.94	708.02	778.29	870.91	988.60	1,094.41	–
CWIP	39	18	35	132	286	333	130	164	211	63	53	121	119
Investments	145	72	89	75	75	506	445	592	597	677	941	1,282	1,547
Other Assets	336	494	920	1,042	1,618	1,285	1,644	1,942	2,395	2,433	2,688	2,345	2,355
Total Assets	856	1,107	1,568	1,855	2,639	2,824	3,146	3,683	4,373	4,503	5,006	5,152	5,443

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	94	135	144	190	24	227	495	375	280	664	317	823
Cash from Investing Activity	-159	-130	-171	-299	-495	-243	-165	-233	-318	-97	-302	-554
Cash from Financing Activity	80	25	86	36	529	-17	-212	-296	151	-519	26	-340
Net Cash Flow	16	30	58	-73	58	-33	118	-154	114	48	41	-71

Ratios

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	45	58	122	127	154	122	99	118	136	127	159	156
Inventory Days	75	93	105	132	92	92	103	112	123	100	111	176
Days Payable	79	95	89	116	105	81	96	123	126	126	125	167
Cash Conversion Cycle	41	56	139	142	140	133	105	107	133	102	144	166
Working Capital Days	21	12	16	5	50	53	56	59	49	48	62	62
ROCE %	24%	22%	20%	17%	13%	12%	16%	26%	16%	20%	17%	11%

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	42.02%	42.02%	42.02%	41.97%	41.97%	41.96%	38.87%	38.87%	38.85%	38.83%	38.82%	38.81%
FIIs	23.66%	23.90%	21.35%	21.48%	18.78%	19.57%	20.39%	19.49%	15.87%	15.14%	13.24%	14.09%
DIIs	4.75%	5.03%	6.68%	7.06%	10.16%	10.70%	14.11%	14.85%	19.57%	22.45%	23.52%	17.91%
Public	29.56%	29.05%	29.95%	29.51%	29.10%	27.77%	26.61%	26.80%	25.71%	23.56%	24.41%	29.17%