Granules India has posted a better performance during the year ended June 2006 with smart gain in bottom line. The company's net profit increased by 42.9 per cent to Rs 9.52 crore from Rs 6.66 crore in the previous year. Its net sales went up by 31.2 per cent to Rs 176.39 crore from Rs 134.44 crore. The annual earning per share worked out to Rs 7.70 as against Rs 5.41 in the last year.
Recently the company has received US FDA approval for Metformin hydrochloride tablets of 500 mg, 850 mg and 1000 mg. This will help the company being recognized as more than an OTC player and has opened up a new vista of business opportunities.
Granules commenced the commercial production for its API plant from its 100 per cent EOU situated at Bonthapally, Andhra Pradesh, with a manufacturing capacity of 8000 TPA of Paracetamol.