Granules India, a Rs. 1,300 crore pharma major from Hyderabad, has registered satisfactory financial performance during the first quarter ended June 2015 and now planning to declare interim dividend in extra-ordinary meeting to be held on August 24. The company's consolidated net profit moved up by 18.7 per cent to Rs. 27.15 crore from Rs. 22.87 crore in the corresponding period of last year. Its net sales increased by 11.2 per cent to Rs. 345.94 crore from Rs. 311.02 crore. EPS for the Rs. 1 share worked out to Rs. Rs. 1.33 as against Rs. 1.13 in the last period.
Its EBIDT went up by 20.1 per cent to Rs. 63.93 crore from Rs. 53.23 crore and EBIDTA margin improved by 137 basis points compared to previous period. During first quarter, PAT margin has also witnessed an improvement of 50 basis points compared to the same period previous year.
After announcing the satisfactory performance Granules scrip touched to its year high at Rs. 104.80 on BSE. The scrip closed at Rs. 102.45 with a gain of Rs. 4.80
C Krishna Prasad, chairman and managing director, said, “The first quarter of the financial year of 2016 had been encouraging as we continued to deliver strong results by focusing on operational efficiency and showing improvement in margin profile of the company. During this quarter, we have further strengthened our footings towards introduction of newer molecules to increase our product portfolio. In addition, our PFI expansion at the Gagillapur facility with 4000 TPA has successfully completed trial runs and we expect to ramp up production in that block throughout the year.”
Meanwhile, the company approved the investment of up to Rs. 20 crore in GIL Lifesciences Pvt. Ltd., a wholly owned Indian subsidiary of the company. Further, it also approved the issue of 1,86,56,000 warrants on preferential basis to Tyche Technologies Pvt. Ltd., a promoter group company, subject to approval of the members, at a price arrived at in accordance with the SEBI (ICDR) Regulations, 2009.