Granules India, a Rs.1,400 crore Hyderabad based pharma major, has posted impressive net profit of 48.2 per cent during the fourth quarter ended March 2016 to Rs.33.19 crore from Rs.22.40 crore in the corresponding period of last year. Though its consolidated net sales increased only by 5 per cent to Rs.372.27 crore from Rs.354.60 crore, EBDITA moved up by 54.8 per cent to Rs.79.73 crore from Rs.51.52 crore. EPS worked out to Rs.1.61 as against Rs.1.10 in the last period. Its R&D expenditure declined by 29.2 per cent to Rs.5.32 crore from Rs.7.51 crore.

The board of directors has recommended equity dividend of 20 paise per share of face value of Rs.1 each. This is in addition to three interim dividends of 15 paise each per share of face value of Rs.1 declared and paid during the year.

Krishna Prasad Chigurupati, chairman & managing director, said, “While we were strengthening our foundation last year, we simultaneously worked towards building a momentum for the future. We had a gentle top line growth but bottom line excelled with improved margins, validating our excellence in operational efficiency. Last year, we witnessed the commercialization, of our CRAMS business, ANDA approval for Ibuprofen Rx and the construction of a new capacity in addition to augmentation of R&D initiatives. This year and the year to come, we look forward to build a strong and agile 'Granules India', which will emerge as an efficient pharmaceutical manufacturing partner with a key focus on R&D.”

For the full year ended March 2016, Granules' consolidated net sales increased by 10.6 per cent to Rs.1,430 crore from Rs.1,293 crore in the previous year. Its net profit improved by 30.3 per cent to Rs.118.47 crore from Rs.90.91 crore. EBDITA moved up by 33.5 per cent to Rs.284.39 crore from Rs.212.96 crore. The tax provision increased sharply by 66.5 per cent to Rs.61.68 crore from Rs.37.05 crore and its interest burden went up by 23.4 per cent to Rs.39.92 crore from Rs.32.35 crore. R&D expenditure grew by 72.1 per cent to Rs.16.54 crore from Rs.9.61 crore. The company's global presence extends to over 300 customers in 60 countries through offices in India, US, UK, China and Colombia.

Its equity capital increased to Rs.21.67 crore from Rs.20.43 crore in the previous year and its reserves and surplus went up by 50 per cent to Rs.617.20 crore from Rs.410.74 crore. The company reduced its long term borrowings to Rs.246.43 crore from Rs.303.21 crore.