Shares of Granules India were trading over 4% higher on Tuesday, January 27, after the pharmaceutical major reported a strong set of results for the third quarter ended December 31, 2025, driven by robust growth in its finished dosages business.
Granules India posted revenue from operations of Rs 13,879 million, marking a 22% year-on-year increase, largely supported by higher demand for finished dosages in key markets such as North America and Europe. On a sequential basis, revenue rose 7%, reflecting steady momentum across business segments.
The company’s EBITDA climbed 34% YoY to Rs 3,081 million, with margins improving to 22% from 20% in the year-ago period. Profitability also strengthened at the bottom line, with profit before tax rising 32% YoY to Rs 2,022 million, while profit after tax increased 28% to Rs 1,502 million. Compared with the previous quarter, EBITDA and PAT grew 11% and 15%, respectively.
During the quarter, finished dosages contributed 76% of total revenue, followed by active pharmaceutical ingredients at 11%, pharmaceutical formulation intermediates at 11%, and peptides/CDMO at 2%. The company’s return on capital employed improved to 16.8%, aided by the integration of Senn Chemicals AG, compared with 16.4% a year earlier.
Granules India’s net debt stood at Rs 10,151 million, with a comfortable net debt-to-EBITDA ratio of 0.91x, indicating a healthy balance sheet position.
Commenting on the performance, Chairman and Managing Director Dr Krishna Prasad Chigurupati said the quarter was among the company’s strongest, highlighting disciplined execution of its growth strategy. He added that continued investments in R&D, ESG initiatives, and expansion of the global supply footprint position Granules India well for long-term growth.
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