Granules India, a Rs.1,400 crore pharma major from Hyderabad, has suffered minor setback during the fourth quarter ended March 2017 and its consolidated net sales declined by 3.6 per cent to Rs.361.17 crore from Rs.375.79 crore in the corresponding period of last year. However, its net profit improved marginally by 2.1 per cent to Rs.36.28 crore from Rs.35.53 crore. EPS worked out to Rs.2.09 as against Rs.1.60 in the last year. The board of directors has recommended final equity dividend of 25 per cent for the equity share of Re 1 each. Aggregate dividend for the year 2016-17 worked out to 90% with interim dividend of 65 per cent paid earlier.

Krishna Prasad Chigurupati, chairman & managing director, said, “It was an eventful year, where we made several strides to strengthen our Core Business as well as progressed further with our Emerging Business initiatives. The work on API expansion at Bo0nthapally and PFI expansions at Gagillapur are on schedule and will contribute positively to our top line in the current financial year. We also initiated the construction of state of the art green field facility in Vizag, India for venturing into oncology and speciality business. Granules Ominchem JV completed first full year of operations with a net profit of Rs.24.9 crore. Granules OmniChem JV completed US FDA inspection for the facility and EIR is awaited. During the year we filed three ANDAs from Gagillapur facility, India and one from Virginia facility, USA. Post approvals we expect this will boost our product offerings both on OTC and Rx space. We are driving towards the future with confidence, passion and commitment to emerge stronger and better n the coming year.”

For the full year ended March 2017, Granules' consolidated net sales increased by 3.8 per cent to Rs.1,435 crore from Rs.1,383 crore in the previous year. Its net profit moved up by 11.9 per cent to Rs.139.79 crore from Rs.124.89 crore. Its EPS worked out to Rs.7.52 as against Rs.5.95 in the last year.   

After announcement of dividend and marginal growth in profits, Granules scrip improved by Rs.3.55 on BSE to Rs.145.70 today. As against the equity capital of Rs.22.87 crore, its reserves & surplus stood at Rs.881 crore from Rs.649 crore.