Granules India Ltd. — Earnings Release 2024

Jan 23, 2024

Digitally signed by CHAITANYA TUMMALA DN: c=IN, o=PERSONAL, title=1722, pseudonym=5a1421da00444714ae97e87640a0419e, 2.5.4.20=f7feec72a52be0b16d0827d9d73aa615bad9538 180242f5bb3efe11f1a5fd10d, postalCode=500013, st=TELANGANA, serialNumber=ae6c5085a4c307805711d3f1ab8a1ff2da4 8346a26aa5fe898e52ec0775c3c69, cn=CHAITANYA TUMMALA Date: 2024.01.23 12:37:24 +05'30'

CHAITANYA

TUMMALA

Press Release

Q3FY24 Revenue from operations at INR 11,556mn up 1% YoY, EBITDA at INR 2,505 mn up 8% YoY, PAT at INR 1,257 mn up 1% YoY.

Hyderabad, India, Jan 23, 2024: Granules India Ltd., a vertically integrated pharmaceutical company, today announced its financial results for the quarter ended December 31, 2023.

Financial Summary (All numbers in INR mn., except Margins)

	QUARTERLY CONSOLIDATED FINANCIALS	Q3FY24	Q2FY24	Growth (QoQ)	Q3FY23	Growth (YoY)
	Revenue from Operations	11,556	11,895	(3%)	11,461	1%
	EBITDA	2,505	2,130	18%	2,313	8%
	EBITDA %	22%	18%		20%
	PAT	1,257	1,021	23%	1,243	1%
	PAT %	11%	9%		11%

Financial and Business Summary for Q3FY24

• Revenue from Operations in Q3FY24 stood at INR 11,556 mn, a growth of 1% y-o-y and a decline of 3% q-o-q.

• Active Pharmaceuticals Ingredients (API), Pharmaceutical Formulation Intermediates (PFI), and Finished dosages contributed 19%, 15%, and 66% of revenue from operations respectively for Q3FY24. The focus on formulations sales has increased resulting in the momentum shifting from API and PFI to Formulations.

• ROCE stood at 15.3%

• Net debt stood at INR 9,285 mn and Net debt to EBITDA at 1.16x

Commenting on the results, Dr. Krishna Prasad Chigurupati, Chairman & Managing Director of Granules India Limited said , “ We had a steady performance this quarter which is reflected in our improved EBITDA and PAT margins as compared to the previous quarter. US formulations business has done well in Q3, led by both existing and new products”.

About Granules India Ltd. (BSE: 532482, NSE: GRANULES)

Granules India Limited, incorporated in 1991 is a vertically integrated fast growing Indian pharmaceutical company headquartered at Hyderabad with best-in-class facilities and commitment to operational excellence, quality, and customer service. We are among the few pharmaceutical companies in the world to be present in the manufacturing of entire value chain – from Active Pharmaceutical Ingredients (APIs), Pharmaceutical Formulation Intermediates (PFIs), and Finished Dosages (FDs). Our products are being distributed to over 300+ customers in regulated and semi-regulated markets with a global presence extending to over 80+ countries with offices across India, US, and UK. The Company has 7 manufacturing facilities out of which 6 are in India and 1 in the USA and 1 packaging facility in the USA and has regulatory approvals from US FDA, EDQM, EU GMP, COFEPRIS, WHO GMP, TGA, K FDA, DEA, MCC, and HALAL.

Safe Harbor

This document includes certain forward-looking statements. These statements are based on management's current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological, and/or regulatory factors. Granules India Ltd., its directors, and any of the affiliates or employees are under no obligation to and expressly disclaims any such obligation to, update or alter its forwardlooking statements, whether as a result of new information, future events, or otherwise.

Contacts:
Puneet Varshney 040-69043709 GM – Business Finance and Investor Relations puneet.varshney@granulesindia.com	Chaitanya Tummala 040-69043614 Company Secretary chaitanya.tummala@granulesindia.com