Granules India rose 1.65% to Rs 320.55 at 10:20 IST on BSE, with the stock extending Friday's 2% gains triggered by the company reporting strong Q4 earnings.
Meanwhile, the S&P BSE Sensex was down 39.61 points or 0.17% at 22,648.46.
On BSE, so far 28,000 shares were traded in the counter as against average daily volume of 79,184 shares in the past one quarter.
The stock hit a high of Rs 322.50 and a low of Rs 316 so far during the day. The stock had hit a record high of Rs 329 on Friday, 25 April 2014. The stock had hit a 52-week low of Rs 101.50 on 25 April 2013.
The stock outperformed the market over the past one month till 25 April 2014, advancing 21.57% compared with the Sensex's 2.87% rise. The scrip had also outperformed the market in past one quarter, jumping 45.79% as against Sensex's 7.36% rise.
The small-cap company has equity capital of Rs 20.31 crore. Face value per share is Rs 10.
Shares of Granules India have risen 3.68% in two trading sessions from Rs 309.15 on 23 April 2014, after the company on Thursday, 24 April 2014, announced strong Q4 earnings. The stock had risen 2% to settle at Rs 315.35 on Friday, 25 April 2014. The stock market was closed on Thursday, 24 April 2014, on account of Parliamentary elections in Mumbai constituency.
Granules India's consolidated net profit surged 90.33% to Rs 23.62 crore on 55.33% growth in total income from operations to Rs 317.47 crore in Q4 March 2014 over Q4 March 2013.
Granules India's consolidated net profit surged 131% to Rs 75 crore on 43% growth in net sales to a record Rs 1096 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
EBITDA (earnings before interest, taxation, depreciation and amortization) jumped 87% to Rs 163 crore in FY 2014 over FY 2013.
Granules India said that the growth in FY 2014 was driven by strong performance across all manufacturing facilities including the company's Chinese JV. The primary growth driver in FY 2014 was led by the company's commercialization of its PFI and Finished Dosage expansion at the Gagillapur facility. The company improved utilization in the newly expanded facility throughout the year and expects to continue improvement utilization in the future. In addition, the API facilities continued to increase production which contributed to strong sales, the company said in a statement.
Granules India's board of directors at its meeting held on Thursday, 24 April 2014, recommended final dividend of Rs 3.50 per share for FY 2014.
Granules India is a fast growing pharmaceutical manufacturing company with world class facilities. The company produces finished dosages (FDs), pharmaceutical formulation intermediates (PFIs) and active pharmaceutical ingredients (APIs)
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