Granules India reported 80% jump in net profit to Rs 145 crore on a 30% increase in revenue from operations to Rs 1,151 crore in Q2 FY23 over Q2 FY22.
EBITDA improved by 61% to Rs 243 crore in Q2 FY23 from Rs 151 crore in Q2 FY22. EBITDA margin was 21% in Q2 FY23 as against 17% in Q2 FY22.
The company's revenue share from the USA increased to 57.8% when compared to 53.8% YoY. Further, active pharmaceuticals ingredients (API), pharmaceutical formulation intermediates (PFI), and finished dosages contribute 29%, 20%, and 51% of revenue from operations, respectively.
Free cash flow stood at Rs 124 crore for Q2 FY23 as compared to Rs 32 crore for Q2 FY22.
ROCE for Q2 FY23 increased to 25% as compared to 21.8% YoY.
Net debt for Q2 FY23 stood at Rs 554 crore as against Rs 613 crore in Q1 FY23. Net debt to EBITDA was at 0.61x in Q2 FY23.
Dr. Krishna Prasad Chigurupati, chairman & managing director of Granules India, said, The current quarter result is a combination of our relentless focus for supply reliability and customer satisfaction and ability to respond and cater to higher demand with a short turnaround time.
Opportunities in Paracetamol are likely to continue and our geography expansion strategy in Europe is likely to yield bigger turnover and EBITDA in future periods.
Granules India is a vertically integrated fast growing Indian pharmaceutical company. It is present across the entire manufacturing value chain - from active pharmaceutical ingredients (APIs), pharmaceutical formulation intermediates (PFIs), and finished dosages (FDs).
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