Granules India, a pharmaceutical manufacturing company, announced financial results for Q3 ended December 31, 2013. Granules consolidated net sales increased 45 per cent to Rs 284 crores while consolidated net profit increased 275 per cent to Rs 22 crores.
Growth was driven by strong performance across all manufacturing facilities including the formulation facility at Gagillapur which continued to scale-up production. In addition to strong revenue growth, the company’s profitability margins strengthened compared to the corresponding quarter in the previous financial year. The EBITDA margin increased by 630 basis points to 16.0 per cent, while the PAT margin increased by 470 basis points to 7.7 per cent. Profitability margins improved significantly from the sequential quarter, which bolstered YTD profitability margins. The YTD EBITDA margin grew 381 basis points to 14.3 per cent while YTD PAT grew 303 basis points to 6.6 per cent, respectively.
“We have increased revenue and PAT four quarters in a row which is why our revenue for the first nine months surpassed our FY13 revenue and more importantly, our PAT is 58 per cent higher than last year’s total. Our standalone operations continue to strengthen and I believe our numbers reflect the potential of our business. While we are proud of our accomplishment, our primary focus continue to be improving manufacturing efficiency so we can deliver unparalleled value to our customers,” said Krishna Prasad, Managing Director, Granules India.
EP News Bureau – Mumbai