Date: November 02, 2026

Financial Performance Summary

Quarterly Consolidated Financials (All numbers in INR Mn)

| Metric | Q2FY27 | Q1FY27 | QoQ Growth | Q2FY26 | YoY Growth |

| Revenue from Operations | 15,600 | 14,768 | 6% | 12,970 | 20% |

| EBITDA | 3,376 | 3,389 | 0% | 2,782 | 21% |

| EBITDA % | 22% | 23% | - | 21% | - |

| PBT | 2,434 | 2,404 | 1% | 1,759 | 38% |

| PAT | 1,818 | 1,800 | 1% | 1,306 | 39% |

| PAT % | 12% | 12% | - | 10% | - |

Business Performance Highlights

Revenue Breakdown by Geography:

  • North America contributed 72% of revenue in Q2FY27 (compared to 76% in Q2FY26)
  • Europe contributed 16% of revenue in Q2FY27 (compared to 12% in Q2FY26)

Revenue Breakdown by Business Segment:

  • Finished Dosages (FD): 73% of revenue
  • Active Pharmaceuticals Ingredients (API): 13% of revenue
  • Pharmaceutical Formulation Intermediates (PFI): 10% of revenue
  • Peptides CDMO: 3% of revenue

Financial Metrics:

  • Return on Capital Employed (ROCE): 17.6% in Q2FY27 (in line with FY26)
  • Net cash position: ₹8,280 million at quarter end (compared to net debt of ₹1,012 million in Q1 FY27)

Management Commentary

Dr. Krishna Prasad Chigurupati, Chairman & Managing Director, commented:

  • Quarterly revenue crossed ₹1,500 Cr in Q2 FY27 with EBITDA of ₹338 Cr
  • Despite higher input and logistics costs from tensions in West Asia
  • Cost pressures will persist and company is working with customers to manage them with a lag
  • Filed two potential first-to-file ANDAs in H1, making a total of three potential first-to-file ANDAs
  • Company continues to shift towards complex generics and peptide CDMO
  • With balance warrant proceeds received, company holds net cash of ₹828 Cr to invest in R&D, manufacturing and quality

Regulatory Update

  • Recently concluded a US FDA audit at the Gagillapur site
  • The inspection progressed constructively
  • Observations are of a nature that can be fully addressed through responses and corrective and preventive actions
  • Company will continue to engage transparently with the agency

Company Background

Granules India Limited is a vertically integrated pharmaceutical company:

  • Incorporated in 1991, headquartered in Hyderabad
  • Present across entire value chain: APIs, PFIs, FDs, and Peptides CDMO
  • Products distributed to over 300+ customers in regulated and semi-regulated markets
  • Global presence in over 80+ countries with offices in India, US, and UK
  • 10 manufacturing facilities (7 in India, 2 in USA, 1 in Switzerland)
  • Regulatory approvals from US FDA, EDQM, EU GMP, COFEPRIS, WHO GMP, TGA, K FDA, DEA, MCC and HALAL