Granules India Limited, a fully integrated pharmaceutical manufacturer headquartered in Hyderabad, bagged the prestigious 'Fastest Emerging Company from India' Award in the APIs & Intermediaries category at the inaugural Indo-Africa Pharma Business Meet hosted by Pharmexcil. The award ceremony was held recently at Marriott Hotel & Convention Centre, Hyderabad.
The event was inaugurated by chief guest Anand Sharma, honourable minister for commerce & industry. Also present at the event were K Rosaiah, the chief minister of Andhra Pradesh, Ashok Kumar secretary Department of Pharmaceuticals, Dr Surinder Singh Drug Controller General of India and along with several State Drug Controller.
The company's annualized net sales for fiscal year 2008-2009 was Rs 385.7 crore, an increase of 50.4 per cent over the prior year. Granules, which has been heavily investing in its business model over the last three years, attributed revenue growth to increased API capacity utilization as well as the introduction and commercialization of its finished dosage business. Granules serve over 300 customers in 50 countries through sales offices in India, US, UK China and Colombia.
"We are excited to be recognized by Pharmexcil because this award acknowledges the robustness of our business model. Our integrated value chain allows us to deliver high-quality, high-volume products to customers throughout the world. There are very few pharmaceutical companies that can handle our volume level. To give you an example of our scale, every minute across the globe, 60,000 tablets are consumed using materials produced by Granules. Going forward, we anticipate sustaining the same growth levels," said Harsha Chigurupati, chief marketing officer at Granules after receiving the award from Ashok Kumar, secretary Department of Pharmaceuticals.