GRANULES
1 call
Concalls & earnings callsGranules India Limited
Every summarised call, newest first. Latest is Q2 FY27, held 6 Oct 2026.
Latest quarter
Q2 FY27 snapshot
Open full brief →Management said Granules returned to growth in FY26 and is shifting from building manufacturing and R&D capabilities to scaling four growth engines of controlled substances, complex generics with first-to-file opportunities, oncology and peptide CDMO.
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Gross margin | 65 percent | about 15 percentage points | |
| EBITDA margin | 22 percent | three percentage points | |
| R&D investment | 6 percent in Q1 FY27 | from about 3 percent of revenue a few years ago | |
| ROCE | 18 percent | about one percentage point YoY |
Latest guidance
- Plan to invest about 2,000 crore in organic capital expenditure over the next three to four years on a milestone-based approach
- Aim to file between 10 and 15 products per year in the US going forward, to be extended to Europe and rest of world
- Target approximately 50 million US dollar in annual revenue run rate in three years and cross 100 million revenue size in five years for peptide CDMO
- Oncology portfolio begins commercialization in Fiscal 29 and extends through Fiscal 35; controlled products pipeline extends through Fiscal 35
Said on the Q2 FY27 call.
Filed results
Reported quarterly history
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹1,137.69 Cr-1.5% YoY+17.7% QoQ | ₹117.60 Cr-6.4% YoY+21% QoQ | ₹4.85-6.4% YoY+20.9% QoQ |
| Q2 FY25 | ₹966.62 Cr-18.7% YoY-18.1% QoQ | ₹97.23 Cr-4.8% YoY-27.8% QoQ | ₹4.01-5% YoY-27.9% QoQ |
| Q1 FY25 | ₹1,179.87 Cr+19.7% YoY+0.3% QoQ | ₹134.65 Cr+181.1% YoY+3.9% QoQ | ₹5.56+180.8% YoY+3.9% QoQ |
| Q4 FY24 | ₹1,175.78 Cr-1.6% YoY+1.7% QoQ | ₹129.65 Cr+8.4% YoY+3.2% QoQ | ₹5.35+8.3% YoY+3.3% QoQ |
| Q3 FY24 | ₹1,155.58 Cr+0.8% YoY-2.9% QoQ | ₹125.65 Cr+1.1% YoY+23% QoQ | ₹5.18+1.4% YoY+22.7% QoQ |
Call history
- Q2 FY27Positive tone
Management said Granules returned to growth in FY26 and is shifting from building manufacturing and R&D capabilities to scaling four growth engines of controlled substances, complex generics with first-to-file opportunities, oncology and peptide CDMO.
- Gross margin
- 65 percentabout 15 percentage points
- EBITDA margin
- 22 percentthree percentage points