Hyderabad, May 2023: Granules India Ltd., a vertically integrated pharmaceutical company, today announced its financial results for the quarter and financial year ended March 31, 2023.
Financial Summary (All numbers in INR mn., except Margins)
Financial and Business Summary for Q4FY2
·Revenue from Operations of Q4FY23 stood at INR 11,955 mn, a growth of 16% YoY, primarily driven by higher sales in key geographies including US and Europe. Revenue share from the USA increased to 54% in Q4 FY23 as compared to 48% YoY.
·Active Pharmaceuticals Ingredients (API), Pharmaceutical Formulation Intermediates (PFI), and Finished dosages contribute 31%, 18%, and 51% of revenue from operations respectively for Q4FY23.
·ROCE increased to 21.1% as compared to 19.3% YoY.
·Net debt stood at INR 7,671 mn and Net debt to EBITDA at 0.84x
Commenting on the results, Dr. Krishna Prasad Chigurupati, Chairman & Managing Director of Granules India Limited said, “We have grown in terms of revenues year on year as well as sequential quarter despite the price erosion challenges in our key geographies including the US. Our Cash flow from operations have improved significantly this year as compared to FY22. This shows the strength of our business and will also help us fund our green initiatives in the coming quarters and years. We are moving towards a more sustainability driven approach in the future and all our efforts and plans are geared towards that.”
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