Granules India Limited

NSE: GRANULES · Pharmaceuticals · sector

₹820.55NSE close 2026-10-26

Key numbers

Market cap₹20,333 cr

Price₹820.55

52w high / low₹924 / ₹530

P/E30.3xSector median 27.9x

P/B4.0xSector median 2.9x

Book value₹205.2

Dividend yield0.18%Sector median 0.48%

ROE15.1%Sector median 11.7%

ROCE15.4%Sector median 12.3%

OPM23.0%Sector median 14.0%

Debt / equity0.26xSector median 0.16x

EV/EBITDA16.0xSector median 18.6x

Interest cover8.9x

Current ratio1.80x

Sales growth 3y+6.0%Sector median +9.6%

Profit growth 3y+4.8%Sector median +13.3%

PEG5.89x

Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 185 companies in Pharmaceuticals (P/E median leaves out loss-making companies). Tap ? for what a number means.

Things to know

Cash ₹949 cr vs borrowings ₹1,338 cr (FY26): borrowings are higher by ₹389 cr.
Borrowings rose in each of the last 3 years (₹1,059 cr → ₹1,338 cr).
Operating profit covered interest 8.9x in the last 12 months.
No promoter shares are pledged.
Promoter holding fell by 1.43 percentage points in a year, to 37.39% (2026-09-30).
Operating cash flow was below net profit in 1 of the last 5 years (FY22).
Revenue was higher than a year earlier in 4 of the last 4 quarters.
Other income was 1% of net profit in the last 12 months.
Debtor days went from 80 (FY24) to 62 (FY26).
Dividend paid in 5 of the last 5 financial years.
Price ₹820.55 on 2026-10-26: -11.2% from the 52-week high, +54.9% from the 52-week low.

Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.

Charts

Weekly close · high ₹898.05 · low ₹431.10

Quarterly results

₹ cr	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	967	1,138	1,197	1,210	1,297	1,388	1,471	1,477
EBITDA	203	230	283	221	278	308	368	339
OPM %	21.0%	20.2%	23.6%	18.2%	21.5%	22.2%	25.0%	22.9%
Other income	3	6	2	16	-1	-4	9	2
Net profit	97	118	152	110	131	150	202	180
EPS (₹)	4.01	4.85	6.27	4.64	5.38	6.19	8.23	7.26
Revenue YoY					+34.2%	+22.0%	+22.8%	+22.0%
Profit YoY					+34.3%	+27.7%	+32.6%	+63.0%

Consolidated figures where filed. Latest quarter Jun 2026.

Profit & loss (yearly)

₹ cr	FY22	FY23	FY24	FY25	FY26	TTM
Revenue	3,765	4,512	4,506	4,482	5,366	5,632
EBITDA	722	914	856	976	1,175	1,293
Net profit	413	517	426	502	595	662
EPS (₹)	16.66	21.05	16.73	20.69	24.47	27.06
Revenue growth		+19.8%	-0.1%	-0.5%	+19.7%	+24.8%
Profit growth		+25.2%	-17.6%	+17.8%	+18.6%	+38.8%
Dividend / share (₹)	1.50	0.75	1.50	1.50	1.50

Compounded growth	3 years	5 years	Last 12 months
Sales	+5.9%	+10.6%	+24.8%
Net profit	+4.8%	+1.6%	+38.8%
EPS	+5.1%	+2.1%	–
Share price	–	+16.9% (2y)	+41.7%

Balance sheet

₹ cr	FY22	FY23	FY24	FY25	FY26
Shareholders' equity	–	2,835	3,226	3,716	5,085
Borrowings	–	1,059	1,223	1,286	1,338
Cash & equivalents	–	313	386	596	949
Total assets	–	4,905	5,521	6,253	7,720
Fixed assets	–	1,631	1,856	2,217	3,051
Capital work in progress	–	228	260	437	406
Investments	–	21	22	22	1
Receivables	–	949	986	942	909
Inventory	–	1,149	1,301	1,343	1,673
Payables	–	782	750	726	673

Year-end figures from the March annual filing.

Cash flow

₹ cr	FY22	FY23	FY24	FY25	FY26
Cash from operations	332	739	439	867	793
Cash from investing	-380	-191	-360	-691	-773
Cash from financing	190	-440	8	-93	379
Capex	398	411	381	572	558
Free cash flow	-66	328	59	295	235

Free cash flow = cash from operations − capex.

Ratios by year

₹ cr	FY22	FY23	FY24	FY25	FY26
ROE %	–	18.2%	13.2%	13.5%	11.7%
ROCE %	–	19.1%	14.7%	15.3%	14.0%
Debtor days	–	77	80	77	62
Inventory days	–	182	235	284	326
Payable days	–	124	135	154	131
Cash conversion cycle (days)	–	135	180	207	257
Working capital days	–	62	67	91	114

Shareholding

Holder	% (2026-09-30)
Promoters	37.39%
FIIs	20.25%
DIIs	15.33%
of which Mutual funds	4.26%
of which Insurance	6.94%
Public (non-institutions)	27.04%

Quarter	Jun 2025	Sep 2025	Dec 2025	Feb 2026	Mar 2026	Jun 2026	Sep 2026	Sep 2026
Promoters %	38.82%	38.82%	38.82%	38.02%	38.02%	38.02%	37.39%	37.39%

Promoter group	%
Krishna Prasad Chigurupati	21.85%
Chigurupati UMA Devi	12.51%
Tyche Investments Private Limited	1.30%
Pragnya Chigurupati	0.69%
Chigurupati Priyanka	0.68%
Santhi Sree Ramanavarapu	0.31%
Suseela Devi Chigurupati	0.02%
Nikhila Reddy Yedaguri	0.01%
Harsha Chigurupati	0.01%
Kalidindi Abinav Varma	0.00%
Venkata Mahesh Krishna Narra	0.00%

Public holders above 1%	%
Smallcap World Fund, INC	4.54%
SBI Life Insurance Co. Ltd	2.91%
Life Insurance Corporation of India	2.04%
Kotak Mahindra Life Insurance Company Ltd.	1.83%
Aditya Birla SUN Life Mutual Fund - Aditya Birla S	1.62%
360 ONE Pipe Fund	1.11%
Basava Sankar RAO Kolli	1.07%

1,82,022 shareholders. Pledged: 0.00% of promoter shares.

Peers in Pharmaceuticals

Company	Market cap	P/E	P/B	ROE	ROCE	OPM	Sales 3y	Div yield
SUNPHARMA	₹4,17,478 cr	34.5x	5.0x	15.5%	18.7%	28.6%	+10.0%	0.94%
DIVISLAB	₹2,39,825 cr	82.1x	14.3x	18.4%	23.0%	34.7%	+10.8%	0.34%
TORNTPHARM	₹1,53,999 cr	72.7x	18.4x	27.3%	15.1%	32.3%	+13.3%	0.84%
ZYDUSLIFE	₹1,15,808 cr	25.9x	4.3x	17.7%	16.8%	27.2%	+16.4%	0.95%
LAURUSLABS	₹1,11,232 cr	101.6x	21.0x	22.4%	20.8%	28.0%	+4.1%	0.08%
CIPLA	₹1,09,464 cr	32.5x	3.2x	10.3%	13.2%	17.7%	+7.4%	1.18%
DRREDDY	₹1,09,460 cr	33.9x	2.9x	9.0%	10.1%	15.5%	+11.0%	0.61%
MANKIND	₹95,486 cr	46.7x	5.9x	13.4%	13.8%	25.1%	+17.7%	0.04%
AUROPHARMA	₹91,489 cr	24.9x	2.4x	10.5%	12.8%	20.0%	+10.6%	0.26%
GRANULES	₹20,333 cr	30.3x	4.0x	15.1%	15.4%	23.0%	+6.0%	0.18%

All 185 companies in Pharmaceuticals →

Dividends & corporate actions

Ex-date	Action	Detail
2026-07-30	Dividend	Dividend - Rs 1.75 Per Share
2025-07-31	Dividend	Dividend - Rs 1.50 Per Share
2024-07-30	Dividend	Annual General Meeting/Dividend - Rs 1.50 Per Share
2023-08-03	Other	Annual General Meeting
2023-08-03	Dividend	Dividend - Rs 1.50 Per Share
2022-08-22	Buyback	Buy Back
2022-07-19	Dividend	Annual General Meeting/Dividend - Rs 0.75 Per Share
2022-02-17	Dividend	Interim Dividend - Rs 0.25 Per Share
2021-11-24	Dividend	Interim Dividend - Rs 0.25 Per Share
2021-08-05	Dividend	Interim Dividend - Rs 0.25 Per Share
2021-07-28	Dividend	Annual General Meeting/Dividend - Rs 0.75 Per Share
2021-02-08	Dividend	Interim Dividend - Rs 0.25 Per Share
2020-10-28	Dividend	Interim Dividend - Rs 0.25 Per Share
2020-08-05	Dividend	Annual General Meeting/Dividend - Rs 0.25 Per Share
2020-07-28	Dividend	Interim Dividend - Rs 0.25 Per Share
2020-03-19	Buyback	Buyback
2020-01-30	Dividend	Interim Dividend - Re 0.25 Per Share
2019-10-31	Dividend	Interim Dividend - Rs 0.25 Per Share
2019-08-21	Dividend	Annual General Meeting/ Dividend - Re 0.25 Per Share
2019-08-08	Dividend	Interim Dividend - Re 0.25 Per Share

Documents

Links go to the original files on the exchange website.

About the company

Pharmaceuticals: Development, manufacturing and sale of Active Pharmaceutical Ingredients (API), Pharmaceutical Formulations Intermediates (PFIs) and Finished Dosages (FD)


Sector	Healthcare
Industry	Pharmaceuticals
Sub-industry	Pharmaceuticals
Symbol	GRANULES
BSE code	532482
ISIN	INE101D01020
Face value	₹1.0
Incorporated	1991-03-18
Website	https://granulesindia.com
Plants (India / abroad)	10 / 0

From the company's filings (BRSR FY26).

Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.