Granules India has posted strong financial performance during the second quarter ended September 2015 and its consolidated net profit went up sharply by 40.3 per cent to Rs.30.97 crore from Rs.22.08 crore in the similar quarter of last year. EBIDTA also went up by 33.2 per cent to Rs.70.46 crore from Rs.52.88 crore. EPS improved to Rs.1.51 from Rs.1.09 in the last period. The board has recommended second interim equity dividend of 15 per cent for the face value of Rs.1 each. First interim dividend was paid in August 2015.
Its consolidated net sales moved up by 19.1 per cent to Rs.366.44 crore from Rs.307.63 crore. Its APIs sales contributed 44 per cent to total sales and pharmaceutical formulation intermediaries sales 27 per cent. The sales of finished dosages contributed 29 per cent. Its sales in regulated markets worked out to 55 per cent and remaining 45 per cent sales contributed by ROW markets.
C Krishna Prasad, chairman & managing director, said, “Our continuous endeavour to improve operational efficiency and process innovation has resulted yet another strong quarter for us. We are happy to see growth in revenue and profit along with improved margin profiles compared to the same quarter previous year. We remain focused on strengthening our core businesses, developing and differentiated product basket through new API division and increasing our global footprints by capitalising the strategic efforts.”
For the first half ended September 2015, Granules' consolidated net sales increased by 15.2 per cent to Rs.712 crore from Rs.619 crore and its net profit improved by 29.3 per cent to Rs.58.13 crore from Rs.44.95 crore. EPS for the first half worked out to Rs.2.84 as against Rs.2.21 in the last period. As against the equity capital of Rs.20.52 crore, its reserves and surplus amounted to Rs.410.73 crore.