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KRChoksey Research Report
Granules India Ltd. reported strong YoY growth, for the fourth quarter, consecutively, by posting a 29.5% YoY (up 12.9% QoQ) growth in revenue to Rs 11.51 billion in Q2 FY23. This was driven by higher paracetamol active pharma ingredient sales, increased market share, and new product launches.
Ebitda rose by a strong 60.7% YoY (up 14.8% QoQ) to Rs 2.43 billion in Q2 FY23, due to a strong rise in sales YoY and an equally strong increase in gross profits, both, YoY and QoQ, in Q2 FY23.
The free cash flow increased to Rs 1.24 billion for Q2 FY23 versus Rs 324 million in Q2 FY22 while return on capital employed increased to 25.0% in Q2 FY23 from 21.8% in Q2 FY22.
Granules India has completed the buyback offer and incurred Rs 3.10 billion towards it, including taxes and other expenses.
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