Granules India - Q2FY2021 results - Angel Broking

Mr. Jyoti Roy - DVP - Equity Strategist, Angel Broking Ltd

"Granules India reported a 22.7% YoY growth in consolidated revenues for Q2FY2021 to ₹858 crore which was marginally above our expectations of ₹839 crore. Revenue growth was driven by new launches and increase in market share of existing products across all three verticals. EBIDTA for the quarter was up by 78.6% YoY to ₹256.3 crore while EBIDTA margins expanded by 940bps yoy to 29.9% due to due to decrease in raw material costs which accounted for 42.1% of revenues as compared to 51.4% of revenues in Q2FY2020. Net profit for the quarter came in above our expectations at ₹163.5 crore up by 70.8% YoY. During the quarter the company received four ANDAs from the US FDA and launched one new product in the US. The company has been able to report significant improvement in margins due to change in product mix and better operational efficiencies. Overall the numbers were ahead of our estimates and we remain positive on the future prospects of the company."

Shares of GRANULES INDIA LTD. was last trading in BSE at Rs.391.65 as compared to the previous close of Rs. 391.45. The total number of shares traded during the day was 271104 in over 7684 trades.

The stock hit an intraday high of Rs. 405 and intraday low of 383. The net turnover during the day was Rs. 106793991.

Source : Equity Bulls

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