BSE: 532482 | NSE: GRANULES | Pharmaceuticals & Drugs | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Granules India Ltd is a good quality company.
The key valuation ratios of Granules India Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Granules India Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 21.7% | 20.4% | 16.8% | 12.7% | 11.6% | 22.7% | 26.5% | 16.3% | 19.6% | 17.1% | - |
| Value Creation Index ⓘ | 0.6 | 0.5 | 0.2 | -0.1 | -0.2 | 0.6 | 1.0 | 0.2 | 0.5 | 0.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 1,215 | 1,328 | 1,349 | 1,647 | 2,098 | 2,310 | 3,135 | 3,238 | 3,931 | 3,755 | 3,324 |
| Sales YoY Gr. | - | 9.3% | 1.6% | 22% | 27.4% | 10.1% | 35.7% | 3.3% | 21.4% | -4.5% | - |
| Adj EPS ⓘ | 4.7 | 5.6 | 6.4 | 5.3 | 6 | 12.7 | 22.6 | 15.9 | 20.9 | 18.1 | 15.5 |
| YoY Gr. | - | 19% | 14.7% | -17.1% | 13.4% | 111% | 77.9% | -29.5% | 31.1% | -13.1% | - |
| BVPS (₹) ⓘ | 20.8 | 29.3 | 38.6 | 50.1 | 55.7 | 70.9 | 86.9 | 101.6 | 111 | 127.8 | 132.4 |
| Adj Net Profit ⓘ | 95.6 | 121 | 146 | 135 | 153 | 322 | 559 | 394 | 505 | 439 | 375 |
| Cash Flow from Ops. ⓘ | 135 | 144 | 190 | 24 | 227 | 495 | 375 | 280 | 664 | 317 | - |
| Debt/CF from Ops. ⓘ | 3.1 | 4.5 | 3.5 | 40.8 | 4.4 | 1.8 | 2.2 | 3.7 | 1.4 | 3.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 13.4% | 12.3% | 6.2% | -4.5% | ||||
| Adj EPS ⓘ | 16.2% | 24.7% | -7.1% | -13.1% | ||||
| BVPSⓘ | 22.4% | 18.1% | 13.7% | 15.2% | ||||
| Share Price | 23.1% | 36.3% | 24.3% | 54.4% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 24.8 | 22.1 | 18.9 | 12.4 | 11.3 | 19.9 | 28.1 | 16.8 | 19.3 | 15.1 | 11.9 |
| Op. Profit Mgn % ⓘ | 17.4 | 20.3 | 22.3 | 17.8 | 15.9 | 21.4 | 27.8 | 20.2 | 21.5 | 21.5 | 21.6 |
| Net Profit Mgn % ⓘ | 7.9 | 9.1 | 10.8 | 8.2 | 7.3 | 14 | 17.8 | 12.2 | 12.8 | 11.7 | 11.3 |
| Debt to Equity ⓘ | 1 | 1 | 0.7 | 0.8 | 0.7 | 0.5 | 0.4 | 0.4 | 0.3 | 0.3 | 0 |
| Working Cap Days ⓘ | 110 | 168 | 241 | 278 | 237 | 195 | 169 | 211 | 198 | 228 | 152 |
| Cash Conv. Cycle ⓘ | 34 | 78 | 115 | 117 | 114 | 98 | 74 | 110 | 95 | 118 | 55 |
No data to display
Return on Equity has declined versus last 3 years average to 11.90%
Sales growth has been subdued in last 3 years 6.20%
Net Profit has been subdued in last 3 years -7.06%
Sales growth is not so good in last 4 quarters at -13.46%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 15.5 | 20.1 |
| TTM Sales (₹ Cr.) | 3,324 | 4,457 |
| BVPS (₹.) ⓘ | 132.4 | 141.3 |
| Reserves (₹ Cr.) ⓘ | 3,208 | 3,403 |
| P/BV ⓘ | 4.47 | 4.19 |
| PE ⓘ | 38.26 | 29.46 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 365.70 / 724.55 |
| All Time Low / High (₹) | 1.57 / 724.55 |
| Market Cap (₹ Cr.) | 14,351 |
| Equity (₹ Cr.) | 24.3 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 44.3 |
| Pledged * | 10.59 | 10.59 | 4.03 | 4.03 | 4.03 | 4.03 | 4.03 | 4.03 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,215 | 1,328 | 1,349 | 1,647 | 2,098 | 2,310 | 3,135 | 3,238 | 3,931 | 3,755 |
| Operating Expenses ⓘ | 1,004 | 1,058 | 1,054 | 1,353 | 1,766 | 1,816 | 2,274 | 2,594 | 3,096 | 2,954 |
| Manufacturing Costs | 82 | 99 | 122 | 152 | 173 | 195 | 233 | 291 | 294 | 364 |
| Material Costs | 707 | 730 | 659 | 903 | 1,250 | 1,222 | 1,510 | 1,758 | 2,161 | 1,907 |
| Employee Cost | 89 | 106 | 126 | 148 | 167 | 193 | 234 | 248 | 278 | 333 |
| Other Costs ⓘ | 125 | 123 | 148 | 150 | 175 | 206 | 296 | 298 | 362 | 350 |
| Operating Profit ⓘ | 211 | 270 | 296 | 294 | 332 | 494 | 861 | 644 | 835 | 801 |
| Operating Profit Margin (%) | 17.4% | 20.3% | 21.9% | 17.8% | 15.8% | 21.4% | 27.5% | 19.9% | 21.2% | 21.3% |
| Other Income ⓘ | 1 | 7 | 15 | 24 | 28 | 26 | 14 | 18 | 13 | 6 |
| Interest ⓘ | 31 | 37 | 32 | 33 | 28 | 27 | 24 | 16 | 39 | 72 |
| Depreciation ⓘ | 50 | 58 | 71 | 76 | 91 | 102 | 118 | 126 | 146 | 144 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 161 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 132 | 181 | 207 | 208 | 242 | 553 | 733 | 520 | 664 | 591 |
| Tax ⓘ | 37 | 60 | 64 | 69 | 80 | 109 | 180 | 133 | 165 | 155 |
| Profit After Tax | 95 | 121 | 143 | 139 | 162 | 444 | 553 | 387 | 499 | 436 |
| PAT Margin (%) | 7.8% | 9.1% | 10.6% | 8.5% | 7.7% | 19.2% | 17.6% | 11.9% | 12.7% | 11.6% |
| Adjusted EPS (₹) | 4.7 | 5.6 | 6.3 | 5.5 | 6.4 | 17.5 | 22.3 | 15.6 | 20.6 | 18.0 |
| Dividend Payout Ratio (%) | 11% | 12% | 14% | 18% | 16% | 6% | 7% | 10% | 7% | 8% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 425 | 636 | 882 | 1,273 | 1,416 | 1,803 | 2,152 | 2,518 | 2,686 | 3,097 |
| Share Capital ⓘ | 20 | 22 | 23 | 25 | 25 | 25 | 25 | 25 | 24 | 24 |
| Reserves ⓘ | 405 | 614 | 859 | 1,247 | 1,391 | 1,777 | 2,128 | 2,494 | 2,662 | 3,073 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 358 | 577 | 598 | 958 | 933 | 793 | 743 | 954 | 812 | 954 |
| Long Term Debt | 243 | 184 | 124 | 433 | 479 | 421 | 334 | 234 | 149 | 50 |
| Short Term Debt | 115 | 393 | 474 | 525 | 454 | 372 | 409 | 720 | 663 | 904 |
| Trade Payables | 183 | 177 | 210 | 261 | 277 | 323 | 508 | 607 | 744 | 655 |
| Others Liabilities ⓘ | 141 | 178 | 165 | 147 | 198 | 228 | 280 | 294 | 261 | 300 |
| Total Liabilities ⓘ | 1,107 | 1,568 | 1,855 | 2,639 | 2,824 | 3,146 | 3,683 | 4,373 | 4,503 | 5,006 |
Fixed Assets | ||||||||||
| Gross Block | 726 | 785 | 937 | 1,066 | 1,195 | 1,523 | 1,693 | 1,949 | 2,201 | 2,312 |
| Accumulated Depreciation | 204 | 261 | 332 | 405 | 495 | 596 | 708 | 778 | 871 | 989 |
| Net Fixed Assetsⓘ | 522 | 523 | 606 | 660 | 700 | 927 | 985 | 1,171 | 1,330 | 1,324 |
| CWIP ⓘ | 18 | 35 | 132 | 286 | 333 | 130 | 164 | 211 | 63 | 53 |
| Investmentsⓘ | 72 | 89 | 75 | 75 | 506 | 445 | 592 | 597 | 677 | 941 |
| Inventories | 179 | 210 | 238 | 227 | 314 | 344 | 462 | 591 | 593 | 579 |
| Trade Receivables | 194 | 444 | 468 | 693 | 704 | 627 | 1,014 | 1,210 | 1,372 | 1,633 |
| Cash Equivalents | 52 | 111 | 39 | 97 | 62 | 272 | 241 | 355 | 203 | 228 |
| Others Assetsⓘ | 68 | 155 | 297 | 600 | 204 | 401 | 225 | 238 | 265 | 248 |
| Total Assets ⓘ | 1,107 | 1,568 | 1,855 | 2,639 | 2,824 | 3,146 | 3,683 | 4,373 | 4,503 | 5,006 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 135 | 144 | 190 | 24 | 227 | 495 | 375 | 280 | 664 | 317 |
| PBT ⓘ | 132 | 181 | 207 | 208 | 242 | 553 | 733 | 520 | 664 | 591 |
| Adjustment ⓘ | 81 | 91 | 95 | 92 | 122 | -54 | 154 | 137 | 178 | 229 |
| Changes in Working Capital ⓘ | -47 | -80 | -53 | -223 | -50 | 115 | -326 | -234 | -1 | -347 |
| Tax Paid ⓘ | -31 | -48 | -59 | -53 | -87 | -120 | -186 | -143 | -177 | -157 |
| Cash Flow From Investing Activity ⓘ | -130 | -171 | -300 | -495 | -243 | -165 | -233 | -318 | -96 | -303 |
| Capex | -102 | -100 | -184 | -275 | -188 | -119 | -222 | -324 | -212 | -119 |
| Net Investments | 0 | 0 | -1 | 0 | 2 | 20 | -14 | 0 | 200 | 16 |
| Others ⓘ | -28 | -72 | -115 | -220 | -57 | -66 | 3 | 5 | -84 | -200 |
| Cash Flow From Financing Activityⓘ | 25 | 86 | 36 | 529 | -17 | -212 | -296 | 151 | -519 | 26 |
| Net Proceeds from Shares ⓘ | 1 | 106 | 83 | 293 | 1 | 0 | 4 | 3 | 3 | 3 |
| Net Proceeds from Borrowing ⓘ | 39 | -55 | -66 | 250 | 102 | -60 | -102 | -95 | -93 | -102 |
| Interest Paid ⓘ | -31 | -37 | -32 | -31 | -28 | -27 | -24 | -17 | -37 | -72 |
| Dividend Paid ⓘ | -8 | -23 | -22 | -29 | -31 | -31 | -25 | -37 | -19 | -36 |
| Others ⓘ | 24 | 96 | 73 | 46 | -62 | -95 | -150 | 298 | -374 | 233 |
| Net Cash Flow ⓘ | 30 | 58 | -73 | 58 | -33 | 118 | -154 | 113 | 48 | 40 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 24.88 | 22.8 | 18.82 | 12.92 | 12.04 | 27.59 | 27.95 | 16.55 | 19.17 | 15.08 |
| ROCE (%) | 21.66 | 20.36 | 16.79 | 12.71 | 11.56 | 22.67 | 26.53 | 16.29 | 19.55 | 17.06 |
| Asset Turnover Ratio | 1.27 | 1.01 | 0.8 | 0.74 | 0.77 | 0.78 | 0.93 | 0.8 | 0.89 | 0.79 |
| PAT to CFO Conversion(x) | 1.42 | 1.19 | 1.33 | 0.17 | 1.4 | 1.11 | 0.68 | 0.72 | 1.33 | 0.73 | Working Capital Days |
| Receivable Days | 46 | 86 | 121 | 128 | 120 | 105 | 94 | 125 | 120 | 146 |
| Inventory Days | 44 | 53 | 59 | 51 | 47 | 52 | 46 | 59 | 55 | 57 |
| Payable Days | 80 | 90 | 107 | 95 | 78 | 90 | 100 | 116 | 114 | 134 |
Granules India Limited is a large-scale vertically integrated Company founded in 1991 manufacturing Active Pharmaceutical Ingredient (API), Pharmaceutical Formulation Intermediate (PFI) and Finished Dosage (FD). The Company over the years has created a strong presence in ‘the first line of defence’ products such as Paracetamol, Ibuprofen, Metformin, Methocarbamol, and Guaifenesin.
The company’s product-focused, vertically integrated business model has created a leadership position in several generic drugs. It has a strong presence in ‘first line of defence’ products, including Paracetamol, Ibuprofen, Guaifenesin and Metformin. It exports nearly 60% of its revenue to the US and Europe. Its key customers include some of the leading generic, as well as, branded pharmaceutical companies. Its integrated model for manufacturing APIs, PFIs and Finished Dosages enables it to provide products across the value chain and enhances its competitiveness. It has emerged into a knowledge driven, R&D focused, multi-product organization, with inherent strength in efficient manufacturing of high-volume pharmaceutical products.
Business area of the company
Granules India is one of the vertically integrated, high-growth pharmaceutical manufacturing company in India today. Based out of Hyderabad, India, it is into manufacturing Active Pharmaceutical Ingredients (APIs), Pharmaceutical Formulation Intermediaries (PFIs) and Finished Dosages (FDs).
Products of the company
Milestones
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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