Granules India Limited (IN:GRANULES)
:GRANULES
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Granules India Limited
(GRANULES)
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Rating:73Outperform
Price Target:
₹700.00
▲(13.80% Upside)
Action:UpgradedDate:10/23/25
Granules India Limited's stock is supported by strong financial performance and positive technical indicators. However, the valuation suggests the stock may be overvalued, which slightly tempers the overall score.
Positive Factors
Diversified business model
Granules' integrated presence across APIs, PFIs and finished dosage formulations gives durable revenue diversification and vertical capture of manufacturing margins. Serving regulated markets raises customer stickiness and barriers to entry, supporting steady volumes and resilience over months.
Negative Factors
Moderate leverage
A moderately high debt-to-equity position increases interest expense and reduces financial flexibility. Over a multi-month horizon higher leverage can constrain investment choices, heighten refinancing risk if rates rise, and limit the firm's ability to scale capacity quickly.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified business model
Granules' integrated presence across APIs, PFIs and finished dosage formulations gives durable revenue diversification and vertical capture of manufacturing margins. Serving regulated markets raises customer stickiness and barriers to entry, supporting steady volumes and resilience over months.
Read all positive factors
Granules India Limited (GRANULES) vs. iShares MSCI India ETF (INDA)
Market Cap
₹149.00B
Dividend Yield0.24%
Average Volume (3M)56.05K
Price to Earnings (P/E)24.2
Beta (1Y)1.13
Revenue Growth8.14%
EPS Growth5.18%
CountryIN
Employees4,057
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)6.20
Shares Outstanding242,668,720
10 Day Avg. Volume60,875
30 Day Avg. Volume56,048
Financial Highlights & Ratios
PEG Ratio0.99
Price to Book (P/B)3.15
Price to Sales (P/S)2.61
P/FCF Ratio60.04
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹682.00Price Target Upside10.88% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)32.35
Revenue Forecast (FY)₹61.25B
Granules India Limited Business Overview & Revenue Model
Company Description
Granules India Limited manufactures and sells active pharmaceutical ingredients (APIs), pharmaceutical formulation intermediates, and finished dosages (FDs) in India, North America, Europe, Latin America, Africa, the Middle East, and international...
How the Company Makes Money
Granules India makes money primarily by manufacturing and selling (1) finished dosage formulations (FDF), (2) active pharmaceutical ingredients (APIs), and (3) pharmaceutical formulation intermediates (PFIs). Finished dosage formulations generally...
Granules India Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
72
Positive
Cash Flow
75
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 48.40B | 44.82B | 45.06B | 45.12B | 37.65B | 32.38B |
| Gross Profit | 29.65B | 26.25B | 23.76B | 21.20B | 17.97B | 17.77B |
| EBITDA | 9.73B | 9.30B | 8.48B | 9.13B | 7.26B | 8.64B |
| Net Income | 5.13B | 5.02B | 4.05B | 5.17B | 4.13B | 5.49B |
Balance Sheet | ||||||
| Total Assets | 69.44B | 62.53B | 55.21B | 49.05B | 45.13B | 37.13B |
| Cash, Cash Equivalents and Short-Term Investments | 6.26B | 5.96B | 3.81B | 2.92B | 3.96B | 2.63B |
| Total Debt | 18.07B | 14.55B | 13.15B | 11.36B | 11.06B | 8.49B |
| Total Liabilities | 29.61B | 25.37B | 22.95B | 20.70B | 19.26B | 15.40B |
| Stockholders Equity | 39.83B | 37.16B | 32.26B | 28.35B | 25.87B | 21.73B |
Cash Flow | ||||||
| Free Cash Flow | 1.49B | 1.95B | 588.38M | 4.52B | -656.53M | 1.61B |
| Operating Cash Flow | 4.74B | 7.67B | 4.39B | 6.64B | 3.32B | 4.32B |
| Investing Cash Flow | -4.99B | -6.95B | -3.60B | -964.52M | -3.80B | -2.77B |
| Financing Cash Flow | 1.59B | 109.58M | 76.64M | -5.19B | 1.90B | -2.99B |
Granules India Limited Technical Analysis
Positive
615.10
Price Trends
580.31
Positive
577.60
Positive
542.79
Positive
Market Momentum
11.44
Negative
57.32
Neutral
74.32
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 above the 20-day moving average (MA) of 589.14, above the 50-day MA of 580.31, and above the 200-day MA of 542.79, indicating a bullish trend. The MACD of 11.44 indicates Negative momentum. The RSI at 57.32 is Neutral, neither overbought nor oversold. The STOCH value of 74.32 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | ₹775.92B | 18.87 | ― | 0.33% | 7.33% | -3.79% | |
73 Outperform | ₹149.00B | 24.17 | ― | 0.24% | 8.14% | 5.18% | |
71 Outperform | ₹75.19B | 38.14 | ― | 4.73% | -19.94% | -22.49% | |
68 Neutral | ₹964.01B | 45.14 | ― | 0.87% | 6.93% | 21.55% | |
57 Neutral | ₹128.94B | 31.27 | ― | 1.28% | 11.42% | -1.91% | |
53 Neutral | ₹591.01B | 35.61 | ― | 0.24% | 30.27% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
IN:GRANULES
Granules India Limited
614.00
178.53
41.00%
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Granules India Limited Corporate Events
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...
Granules India’s US Packaging Facility Clears Second FDA Inspection With NAI Status
Mar 5, 2026
Granules India’s U.S. step-down subsidiary, Granules Consumer Health, LLC, has received an Establishment Inspection Report with a No Action Indicated status from the U.S. Food and Drug Administration for its packaging facility in Manassas, V...
Granules India Issues Corrigendum on EGM Notice for Preferential Issue
Jan 14, 2026
Granules India Limited has issued a corrigendum to the notice of its Extra-Ordinary General Meeting scheduled for January 22, 2026, which will be held via video conferencing, and has published this corrigendum in the Business Standard and Nava Tel...
Granules’ US Arm Wins FDA Tentative Nod and 180-Day Exclusivity for Generic ADHD Drug
Jan 8, 2026
Granules Pharmaceuticals, Inc., the U.S. subsidiary of Granules India Limited, has received tentative approval from the U.S. FDA for its Abbreviated New Drug Application for generic amphetamine extended-release tablets, the equivalent of Dyanavel ...
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.