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Granules India Ltd Q2 consolidated net profit higher at Rs. 95.79 crores

Posted On: 2019-10-22 15:06:00


Granules India Ltd., a growing pharmaceutical manufacturing company, announced its result for second quarter of financial year 2020 today.

The Company's Board of Directors have recommended a second interim dividend of 25 paise per share of face value of Re. 1 each.

Financial Results (Q2 FY19-20) - QoQ Comparison

The company has reported net sales of Rs.708.20 crores during the period ended September 30, 2019 as compared to Rs.597.12 crores during the period ended June 30, 2019.

The company has posted net profit of Rs.95.79 crores for the period ended September 30, 2019 as against Rs.83.24 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.3.76 for the period ended September 30, 2019 as compared to Rs.3.27 for the period ended June 30, 2019.

FinancialsQ2 FY19-20Q1 FY19-20% Change
Total Income₹ 708.20 crs₹ 597.12 crsUp Tick 18.6%
Net Profit₹ 95.79 crs₹ 83.24 crsUp Tick 15.08%
EPS₹ 3.76₹ 3.27Up Tick 14.98%

Financial Results (Q2 FY19-20) - YoY Comparison

The company has reported net sales of Rs.708.20 crores during the period ended September 30, 2019 as compared to Rs.585.04 crores during the period ended September 30, 2018.

The company has posted net profit of Rs.95.79 crores for the period ended September 30, 2019 as against Rs.60.26 crores for the period ended September 30, 2018.

The company has reported EPS of Rs.3.76 for the period ended September 30, 2019 as compared to Rs.2.36 for the period ended September 30, 2018.

FinancialsQ2 FY19-20Q2 FY18-19% Change
Total Income₹ 708.20 crs₹ 585.04 crsUp Tick 21.05%
Net Profit₹ 95.79 crs₹ 60.26 crsUp Tick 58.96%
EPS₹ 3.76₹ 2.36Up Tick 59.32%

Financial Results (6 months ended FY 19-20) - YoY Comparison

The company has reported net sales of Rs.1305.33 crores during the 6 months period ended September 30, 2019 as compared to Rs.1053.02 crores during the 6 months period ended September 30, 2018.

The company has posted net profit of Rs.179.03 crores for the 6 months period ended September 30, 2019 as against Rs.112.05 crores for the 6 months period ended September 30, 2018.

The company has reported EPS of Rs.7.03 for the 6 months period ended September 30, 2019 as compared to Rs.4.40 for the 6 months period ended September 30, 2018.

Financials6 months FY19-206 months FY18-19% Change
Total Income₹ 1305.33 crs₹ 1053.02 crsUp Tick 23.96%
Net Profit₹ 179.03 crs₹ 112.05 crsUp Tick 59.78%
EPS₹ 7.03₹4.40Up Tick 59.77%

The Board has approved the divestment of the company's stake in Granules Omnichem Private Limited, a Joint Venture Company located in India and an approval to divestment of its stake in Granules Biocause Pharmaceutical Co. Limited, a Joint Venture Company located in China. Both the actions will allow us to focus on our core strengths while allowing us to enhance our free cash flow and reduce net debt.

"I am happy to share with you that our growth momentum has continued in the second quarter and we reported an adjusted profit growth of 103% over the corresponding quarter of the previous year. This is the result of operational excellence and a vigilant watch over our margins via optimal product mix, capacity utilization and minimization of our expenses. Our unwavering focus on the regulated market at a contribution of 73% (North America and Europe) and a shift towards PFIs and FDs at 69% of the total revenue has enabled us to achieve this growth during the quarter. During the quarter, we have filed 2 ANDAs and received approvalfor 1 ANDA by the USFDA. We have also filed two dossiers in Europe and the UK to expand our global presence of our core molecules and to reduce our concentration risk. We are well on track to fulfill our commitment of higher return on investments and improve the leverage position of our Company. With improved cash flow our net debt position is now at a comfortable level of 1.6x of EBITDA." said Mr. Krishna Prasad Chigurupati, Chairman & Managing Director of Granules India Limited.

Shares of GRANULES INDIA LTD. was last trading in BSE at Rs.101.5 as compared to the previous close of Rs. 97.6. The total number of shares traded during the day was 19023 in over 618 trades.

The stock hit an intraday high of Rs. 102.5 and intraday low of 97.5. The net turnover during the day was Rs. 1914351.


Source: Equity Bulls

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