Granules India: Strong Growth & Pharma Expansion

Granules India is a vertically integrated pharmaceutical company with strong exposure to APIs, finished dosages and emerging CDMO/peptide businesses. FY26 revenue rose 20% to ₹5,365.6 crore, EBITDA increased 25% to ₹1,185.1 crore, and PAT grew 19% to ₹595 crore. Latest News: Q1 FY27 revenue increased 22% YoY to ₹1,476.8 crore, while EBITDA rose about 53% to ₹338.9 crore and PAT jumped 59.8% to ₹180 crore. The company has also substantially reduced leverage, with net debt/EBITDA at just 0.07x. Corporate Action/Catalysts: Shareholders approved a ₹1.75/share final dividend. Granules plans ₹100–200 crore capex for a new peptide facility in Vizag, while management targets making its peptide CDMO business PAT-positive this fiscal. FDA remediation progress at Gagillapur is another positive. Key risks include regulatory compliance, US pricing pressure and execution.