Granules India’s total income for FY’19 up by 35 per cent

The company’s consolidated total income for the fourth quarter of FY’19 was Rs 615 crores — an increase of 20 per cent from the same quarter of the previous financial year

Granules India has reported over three-fold jump in consolidated net profit to Rs 64.03 crore for the March quarter of 2018-19. The company’s consolidated total income for the fourth quarter of FY’19 was Rs 615 crores — an increase of 20 per cent from the same quarter of the previous financial year. EBITDA and PAT increased by 87 per cent and 213 per cent respectively to Rs 99 crores and Rs 64 crores compared to fourth quarter of the last financial year.

The company’s Board of Directors has recommended a final dividend of 25 paise/share of face value of Re 1 each, in addition to the interim dividend of Re 75 paise/share already paid for the financial year 2019.

“I am pleased to see another quarter of continued growth in revenue and profit in the fiscal 2019. We achieved this growth on back of inherent stability of the molecules in our portfolio combined with our relentless focus on efficient manufacturing. The primary revenue growth driver for this quarter is the US formulation business, which complimented in overall improvement in profitability margins compared with same quarter of the previous financial year.

“Owing to the policy of fiscal prudence that we have adopted, this year witnessed improvement in debt profile, working capital cycle and culmination of major capex implementation phase. We are geared up to leverage these assets to create value for our stakeholders in long term. During the year under review, we, along with our US subsidiary filed 12 ANDAs, two DMFs and two CEPs which are important indicators of our constant resolve towards accelerated product filling. The other turning point of the year was the launch of our own label product through our US subsidiary marking an important landmark in our corporate journey. Lastly, in our endeavour to broad base our board composition, we have included new members who will guide us towards a sustainable future,” said Krishna Prasad Chigurupati, Chairman and Managing Director, Granules India.