Granules India Limited (IN:GRANULES)
:GRANULES
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Granules India Limited
(GRANULES)
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Rating:66Neutral
Price Target:
₹849.00
▲(38.03% Upside)
Action:Downgraded
Date:05/01/26
The score is driven primarily by solid overall financial stability and renewed revenue growth, but is held back by uneven cash conversion and signs of margin pressure. Technicals are supportive due to a strong uptrend, though overbought indicators add near-term risk. Valuation is tempered by a mid-20s P/E and a very low dividend yield.
Positive Factors
Vertical Integration
Granules' integrated model—making APIs, formulation intermediates and finished dosages—creates durable competitive advantages: better cost control, supply security, and captured value across the chain. This reduces reliance on third-party suppliers and supports long-term margin resilience and customer stickiness.
Negative Factors
Margin Pressure
A falling gross profit with rising revenue implies rising input costs, pricing pressure or product-mix deterioration. If persistent, this erodes operating margins and return on invested capital, forcing reliance on volume growth or efficiency programs to protect long-term profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Vertical Integration
Granules' integrated model—making APIs, formulation intermediates and finished dosages—creates durable competitive advantages: better cost control, supply security, and captured value across the chain. This reduces reliance on third-party suppliers and supports long-term margin resilience and customer stickiness.
Read all positive factors
Granules India Limited (GRANULES) vs. iShares MSCI India ETF (INDA)
Market Cap
₹194.73B
Dividend Yield0.24%
Average Volume (3M)56.05K
Price to Earnings (P/E)32.2
Beta (1Y)0.83
Revenue Growth19.73%
EPS Growth18.17%
CountryIN
Employees4,057
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)21.14
Shares Outstanding247,796,920
10 Day Avg. Volume60,875
30 Day Avg. Volume56,048
Financial Highlights & Ratios
PEG Ratio1.39
Price to Book (P/B)2.97
Price to Sales (P/S)2.81
P/FCF Ratio125.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)32.2
Revenue Forecast (FY)₹62.39B
Granules India Limited Business Overview & Revenue Model
Company Description
Founded in 1984 and headquartered in Hyderabad, India, Granules India Limited operates as a key player in the pharmaceutical sector. The company is engaged in the manufacturing and global distribution of a diverse range of pharmaceutical products,...
How the Company Makes Money
Granules India makes money by manufacturing and selling products across three main categories: (1) Active Pharmaceutical Ingredients (APIs): It produces and sells bulk drug substances used by pharmaceutical companies to manufacture finished medici...
Granules India Limited Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
72
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 48.40B | 53.66B | 44.82B | 45.06B | 45.12B | 37.65B |
| Gross Profit | 29.65B | 23.05B | 26.25B | 23.76B | 21.20B | 17.97B |
| EBITDA | 9.73B | 11.95B | 9.30B | 8.48B | 9.13B | 7.26B |
| Net Income | 5.13B | 5.95B | 5.02B | 4.05B | 5.17B | 4.13B |
Balance Sheet | ||||||
| Total Assets | 69.44B | 77.20B | 62.53B | 55.21B | 49.05B | 45.13B |
| Cash, Cash Equivalents and Short-Term Investments | 6.26B | 9.49B | 5.96B | 3.81B | 2.92B | 3.96B |
| Total Debt | 18.07B | 15.12B | 14.55B | 13.15B | 11.36B | 11.06B |
| Total Liabilities | 29.61B | 26.35B | 25.37B | 22.95B | 20.70B | 19.26B |
| Stockholders Equity | 39.83B | 50.85B | 37.16B | 32.26B | 28.35B | 25.87B |
Cash Flow | ||||||
| Free Cash Flow | 1.49B | 1.20B | 1.95B | 588.38M | 4.52B | -656.53M |
| Operating Cash Flow | 4.74B | 6.78B | 7.67B | 4.39B | 6.64B | 3.32B |
| Investing Cash Flow | -4.99B | -7.79B | -6.95B | -3.60B | -964.52M | -3.80B |
| Financing Cash Flow | 1.59B | 5.00B | 109.58M | 76.64M | -5.19B | 1.90B |
Granules India Limited Technical Analysis
Positive
615.10
Price Trends
728.42
Positive
655.93
Positive
607.14
Positive
Market Momentum
10.17
Positive
61.88
Neutral
55.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GRANULES, the sentiment is Positive. The current price of 615.1 is below the 20-day moving average (MA) of 769.09, below the 50-day MA of 728.42, and above the 200-day MA of 607.14, indicating a bullish trend. The MACD of 10.17 indicates Positive momentum. The RSI at 61.88 is Neutral, neither overbought nor oversold. The STOCH value of 55.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:GRANULES.
Granules India Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ₹77.08B | 25.06 | ― | 4.73% | -12.98% | -21.81% | |
69 Neutral | ₹1.09T | 28.21 | ― | 0.87% | 2.23% | -26.44% | |
68 Neutral | ₹869.95B | 23.93 | ― | 0.33% | 6.08% | 0.77% | |
66 Neutral | ₹194.73B | 32.19 | ― | 0.24% | 19.73% | 18.17% | |
62 Neutral | ₹149.72B | 21.84 | ― | 1.28% | 10.08% | 15.65% | |
60 Neutral | ₹624.81B | 44.64 | ― | 0.24% | 27.48% | 30.05% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
IN:GRANULES
Granules India Limited
785.85
289.92
58.46%
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Granules India Limited Corporate Events
Granules India Files Monitoring Report on Preferential Issue Proceeds for Q4 FY26
Apr 29, 2026
Granules India Limited has submitted a Monitoring Agency Report for the quarter ended March 31, 2026, detailing the utilization of proceeds raised through a preferential issue. The report, prepared by India Ratings Research Private Limited in lin...
Granules India Sets July 30, 2026 as Record Date for Final Dividend
Apr 29, 2026
Granules India Limited has announced that July 30, 2026 has been fixed as the record date to determine shareholders eligible to receive the final dividend for the financial year ended March 31, 2026. This move sets the timeline for dividend entitl...
Granules India Subsidiary Clears Routine USFDA cGMP Audit With Procedural Observations
Apr 4, 2026
Granules India Limited announced that its wholly owned U.S. subsidiary, Granules Pharmaceuticals, Inc. in Chantilly, Virginia, has successfully completed a routine current Good Manufacturing Practices audit conducted by the U.S. Food and Drug Admi...
Granules Life Sciences Gets US FDA VAI Rating for Shamirpet Plant
Mar 31, 2026
Granules India Limited announced that its wholly owned subsidiary, Granules Life Sciences, has successfully completed a U.S. FDA inspection of its Shamirpet, Telangana oral solid dosage manufacturing facility, receiving a Voluntary Action Indicate...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.