Granules India rose 1.41% to Rs 369.85 after the drug company posted a 7.9% rise in consolidated net profit to Rs 120.2 crore on a 15.5% increase in net sales to Rs 849 crore in Q1 FY22 over Q1 FY21.
Consolidated profit before tax rose by 9.2% to Rs 162.87 crore in Q1 FY22 from Rs 149.19 crore in Q1 FY21. EBITDA grew by 9.6% to Rs 201.4 crore in Q1 FY22 over Q1 FY21. Meanwhile, EBITDA margin declined to 23.7% in Q1 FY22 from 25% in Q1 FY21.Granules said its gross margin drop was on account of reduction in margins on Para due to increase in KSM price. Favourable forex in Q1FY21 and air freight collected from customers was part of sales which was added to Gross margin in Q1FY21. A fall in EBITDA margin was on account of lower profitability in para products and higher logistic cost.
The company's Pharmaceutical Formulation Intermediates (PFI) segment grew 25% year on year, its Active Pharmaceutical Ingredients (API) segment grew 5% YoY while Finished Dosage (FD) grew 18% YoY.
Granules India along with its subsidiaries has a global presence which extends to over 250 customers in over 75 countries through its offices in India, US & UK and has seven manufacturing facilities out of which six are located in India and one in the USA.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU