Granules India, a Rs.1,000 crore plus pharma major from Hyderabad, has posted single digit growth of 8 per cent in consolidated net profit during the third quarter ended December 2014 to Rs.23.56 crore as against Rs.21.81 crore in the last period. EBDITA improved by 21 per cent to Rs.55.3 crore from Rs.45.5 crore. Its consolidated net sales increased by 12.5 per cent to Rs.319.67 crore from Rs.284.05 crore. EPS worked out to Rs.11.59 as against Rs.10.80 in the last period.
Finished dosages continue to be the largest contributor to the business and constituted 42 per cent of standalone sales. Sales to the regulated markets increased to 69 per cent against 63 per cent last period. Meanwhile, the company amalgamated Auctus Pharma Ltd with its operations after certain approvals.
The board of directors decided to split its face value of share of Rs.10 each into Rs.1 after certain approvals. Further, the company is planning to raise Rs.250 crore with applicable green show option through issue of securities through a Qualified Institutions Placement (QIP) to institutional buyers as per the SEBI regulations.
Krishna Prasad, chairman and managing director, said, “This is a year of consolidation for us and we are encouraged to see growth in Revenue and product along with improved operational margins compare to the same quarter previous year in the midst of business integration. We remain focused on strengthening our existing businesses and developing a product basket through capitalising the strategic efforts we have initiated in the past by way of Auctus acquisition and establishing indigenous research centre. Our vertical integration continues to differentiate us and we will build on our strength by commercializing additional PFI capacity this quarter. We also continue to expand and strengthen our global footprint by creating a deeper relationship with our customers.”
For the nine months period ended December 2014, Granules' consolidated net sales increased by 20.6 per cent to Rs.936 crore from Rs.776 crore in the similar period of last year. Its net profit went up sharply by 32.8 per cent to Rs.68.51 crore from Rs.51.61 crore.