Granules India
Granules India Ltd valuation: P/E, P/B and sector benchmarks.
Twelve years of multiples investors have paid for Granules India Ltd, framed against the sector median so the premium or discount is obvious at a glance.
Granules India Ltd trades at a P/E of 31.96× and P/B of 3.77×.
Valuation
Profitability
Growth
Financial Health
Granules India Ltd chart patterns: breakouts, tops and bottoms.
Auto-detected classical chart patterns for Granules India Ltd — Double Top/Bottom, Head & Shoulders, Triple Bottom and more — with break levels, targets and quality scores across Intraday, Daily and Weekly timeframes.
Granules India Ltd financials: P&L, balance sheet, cash flow, ratios.
Twelve years of audited numbers for Granules India Ltd, switchable between annual and quarterly views, consolidated or standalone.
Granules India Ltd reports its full P&L, balance sheet, cash flow and ratios on this page — current market capitalisation of ₹19,573.48 Cr and reported EPS of ₹24.47.
| Period | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 1,692 | 2,279 | 2,599 | 3,238 | 3,765 | 4,512 | 4,506 | 4,482 | 5,366 |
| Other Income | 11 | 27 | 37 | 27 | 18 | 14 | 4 | 13 | 20 |
| Total Income | 1,703 | 2,306 | 2,635 | 3,264 | 3,783 | 4,526 | 4,511 | 4,495 | 5,386 |
| Cost of Goods Sold (COGS) | 896 | 1,256 | 1,281 | 1,391 | 1,884 | 2,307 | 2,021 | 1,726 | 1,876 |
| Gross Profit | 796 | 1,024 | 1,318 | 1,846 | 1,881 | 2,205 | 2,485 | 2,756 | 3,490 |
| +Operating Expenses | 517 | 640 | 792 | 991 | 1,159 | 1,291 | 1,629 | 1,811 | 2,305 |
| EBITDA | 278 | 384 | 525 | 855 | 722 | 914 | 856 | 945 | 1,185 |
| +Non-Operating Expenses | 109 | 134 | 192 | 178 | 182 | 240 | 313 | 359 | 401 |
| Profit Before Tax (PBT) | 180 | 277 | 426 | 704 | 558 | 687 | 547 | 660 | 785 |
| +Tax Expense | 63 | 89 | 116 | 155 | 145 | 171 | 142 | 159 | 190 |
| Profit After Tax (PAT) | 133 | 236 | 335 | 549 | 413 | 517 | 405 | 502 | 595 |
| Earnings Per Share (EPS) | 5.22 | 9.30 | 13.19 | 22.18 | 16.64 | 21.34 | 16.72 | 20.68 | 24.01 |
| Diluted Shares Outstanding (Nos.) | 25 | 25 | 25 | 25 | 25 | 24 | 24 | 24 | 25 |
| +Additional Disclosures | 2,436 | 3,346 | 3,546 | 3,925 | 5,148 | 6,203 | 6,005 | 5,618 | 6,610 |
| Sales Growth % | — | 34.72 | 14.02 | 24.59 | 16.29 | 19.84 | -0.12 | -0.55 | 19.73 |
| YoY Sales Growth % | — | 34.72 | 14.02 | 24.59 | 16.29 | 19.84 | -0.12 | -0.55 | 19.73 |
| Material Cost % | 53 | 59 | 51 | 49 | 54 | 52 | 49 | 38 | 39 |
| Employee Cost % | 10 | 9 | 10 | 13 | 11 | 10 | 13 | 15 | 17 |
| Other Cost % | 21 | 19 | 21 | 18 | 20 | 18 | 23 | 26 | 26 |
| OPM % | 16 | 17 | 20 | 26 | 19 | 20 | 19 | 21 | 22 |
| Tax % | 35 | 32 | 27 | 22 | 26 | 25 | 26 | 24 | 24 |
| Profit Growth % | — | 78.30 | 41.87 | 63.82 | -24.88 | 25.16 | -21.54 | 23.74 | 18.64 |
| Gross Margin % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA Margin % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Coverage Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Additional Fields | 202 | 279 | 388 | 704 | 564 | 729 | 649 | 720 | 889 |
Granules India segment analysis: revenue and profit mix.
Disclosed business segments at Granules India with their share of revenue and profit, switchable between consolidated and standalone reporting.
Granules India discloses revenue and profit across multiple business segments — toggle between consolidated and standalone views to see the mix.
Segment-wise Financial Analysis
Granules India Ltd investment thesis: bull case, bear case, and the flip lines.
Why someone would buy Granules India Ltd, why someone wouldn't, and the quantitative tripwires that would force the call to flip.
Granules India Ltd's investment case rests on 7 positive markers and 9 flagged concerns drawn from the latest reported filings.
What you're getting.
Granules India boasts a strong ROE of 13.9% and ROCE of 15.1%, indicating efficient profit generation from shareholder investments and capital employed. This highlights robust profitability and operational excellence, crucial for sustained growth.
The company's March 2025 quarter net profit reached ₹152 crore, showcasing consistent growth and financial strength. This positive trend in profitability demonstrates resilience and potential for future growth, even amidst market volatility.
Granules India maintains a healthy financial position with a low debt-to-equity ratio of 0.39, suggesting a manageable debt burden. This strong financial standing reduces the risk of high leverage and enhances investor confidence in the company's stability.
Granules India has a 'Buy' long-term recommendation with a solid fundamental score of 62% and a medium risk level. This indicates a favorable risk-reward profile, making it an attractive choice for long-term investors seeking sustained growth.
Operating within the resilient Pharmaceuticals sector, Granules India can capitalize on increasing global healthcare expenditure and demand for essential medicines, driving future revenue growth and market expansion opportunities.
What can break it.
Promoter holding has decreased to 38.8% from over 40% previously, raising concerns about management commitment and potential future share dilutions. This decline warrants close monitoring for any further significant decreases in promoter stake.
The company reported a quarterly profit variation of -2.18%, indicating a slight decline in recent profitability. This trend needs careful monitoring as sustained negative growth could impact future earnings and investor sentiment.
While the debt-to-equity ratio is manageable, the absolute debt of ₹1455 crore is substantial and needs careful evaluation within the context of the company's overall financial health and future growth strategies. This could impact future financial flexibility.
The low dividend yield of 0.26% may be a concern for income-seeking investors. While capital appreciation potential exists, this low yield should be weighed against the potential risks and compared to other investment opportunities offering higher payouts.
Granules India's current P/E ratio of 29.10 is higher than the sector P/E of 23.69, suggesting it might be relatively overvalued compared to its industry peers. This warrants careful consideration for value-focused investors.
What would change my mind.
Trim if P/E re-rates above 42. The valuation cushion thins from there.
Reassess if quarterly profit growth prints below 0% for two consecutive quarters. The bull case relies on compounding earnings.
Watch interest coverage if debt-to-equity climbs above 30.24. Balance sheet risk re-prices growth multiples fast.
Exit if ROE slips below 9%. The operating engine is no longer compounding capital efficiently.
Granules India Ltd peer comparison — same-sector benchmarks.
Same-sector listed peers ranked on P/E, market cap, dividend yield and growth — Granules India Ltd is highlighted for quick read-across.
Quick Compare
Peer Comparison
Granules India Ltd technical analysis: indicators, pivots and CPR.
Live RSI, MACD and moving-average signals plus today's pivot and Central Pivot Range levels for Granules India Ltd — derived from the live tape, not yesterday's close.
Granules India Ltd last traded at ₹786.9 with an intraday range of ₹771.35–₹795.6 — live indicator, pivot and CPR signals below.
Pivot points
Standard pivot — most widely referenced.
Pivot levels · Classic
Live: ₹786.90| Level | Price (₹) | Distance | % Δ |
|---|---|---|---|
| R4 | 846.38 | +59.48 | +7.56% |
| R3 | 822.13 | +35.23 | +4.48% |
| R2 | 808.87 | +21.97 | +2.79% |
| R1 | 797.88 | +10.98 | +1.40% |
| PIVOT | 784.62 | -2.28 | -0.29% |
| CURRENT | 786.90 | — | — |
| S1 | 725.13 | -61.77 | -7.85% |
| S2 | 749.38 | -37.52 | -4.77% |
| S3 | 760.37 | -26.53 | -3.37% |
| S4 | 773.63 | -13.27 | -1.69% |
GRANULES is trading Above CPR, indicating Bullishness
CPR is Average
Day's range: 771.35 ~ 784.45
Trading Above opening range, showing Bullishness
Granules India Ltd delivery volume — last 20 sessions of conviction.
Daily traded volume and delivery percentage for Granules India Ltd over 20 sessions — the gap between intraday flipping and genuine accumulation.
Latest session delivery in Granules India Ltd stood at 49.6% of traded volume, against a 20-day average of 51.5%.
Granules India announcements: results, concalls, ratings, M&A.
Filings Granules India sent to the exchanges, sequenced as they hit the tape — concall transcripts, results, credit ratings and presentations.
Granules India files concall transcripts, results, credit ratings and corporate-action notices on the NSE and BSE exchange portals — latest 111 documents below.
Press Release
Granules India Limited has informed the Exchange regarding a press release dated Jun 03, 2026, titled "Granules Pharmaceuticals, Inc. Receives USFDA…
Analysts/Institutional Investor Meet/Con. Call Updates
Granules India Limited has informed the Exchange about Schedule of meet
Spurt in Volume
Significant increase in volume has been observed in Granules India Limited. The Exchange, in order to ensure that investors have latest relevant…
Analysts/Institutional Investor Meet/Con. Call Updates
Granules India Limited has informed the Exchange about Transcript
Analysts/Institutional Investor Meet/Con. Call Updates
Granules India Limited has informed the Exchange about Link of Recording
Investor decks & rating reports.
Analysts/Institutional Investor Meet/Con. Call Updates
Analysts/Institutional Investor Meet/Con. Call Updates
Analysts/Institutional Investor Meet/Con. Call Updates
Investor Presentation
Investor Presentation
Granules India dividend history, splits and bonus issues.
Every dividend, stock split and bonus issue Granules India has declared, sequenced by announce and record date.
Granules India corporate-action history below covers all declared dividends, stock splits and bonus issues recorded with NSE and BSE.
About Granules India Ltd: business, sector, key facts.
What Granules India Ltd does, where it operates, the people running it, and the numbers that describe the entity behind the ticker.
Granules India Ltd operates in the Healthcare, listed as NSE: GRANULES, BSE: 532482.
Granules India Limited is a prominent player in the pharmaceutical industry, specializing in the manufacture and sale of Active Pharmaceutical Ingredients (APIs), Pharmaceutical Formulation Intermediates, and Finished Dosages (FDs). Their operations span both the domestic Indian market and international markets, demonstrating a significant global reach within the pharmaceutical supply chain. The company's diverse product portfolio caters to a wide range of therapeutic areas, showcasing its expertise across various medicinal applications.
A core component of Granules India's business is the production of APIs. These are the fundamental building blocks for many medications and Granules offers a substantial array, encompassing anti-retrovirals (used in HIV/AIDS treatment), anti-hypertensives (for blood pressure management), anti-histamines (treating allergies), anti-infectives (combatting infections), analgesics (pain relievers), anti-coagulants (blood thinners), anti-fibriotics (treating heart conditions), and platelet inhibitors (preventing blood clot formation). This broad spectrum highlights the company's comprehensive capabilities in API synthesis and manufacturing.
Beyond APIs, Granules India also offers finished dosage forms (FDs) including tablets, caplets, and press-fit capsules. These are supplied in various packaging formats such as bulk quantities, blister packs, and bottles, catering to different client needs and distribution channels. The company further distinguishes itself by manufacturing high potent products, typically requiring specialized handling and expertise, along with other products catering to the oncology (cancer treatment) sector. This demonstrates a commitment to serving high-demand and specialized pharmaceutical segments.
Granules India's commitment to innovation is evident in its provision of development and manufacturing solutions for peptides, peptide fragments, and amino acid derivatives. These complex molecules are increasingly important in modern medicine, and the company's investment in this area positions it at the forefront of pharmaceutical advancements. This diversification across various stages of pharmaceutical production, from basic APIs to complex finished dosages and specialized molecules, strengthens its position in the industry and allows for greater resilience against market fluctuations.
Established in 1984 and headquartered in Hyderabad, India, Granules India Limited has a long history of operation and a strong foothold in the global pharmaceutical landscape. The company's integrated approach, covering a wide range of pharmaceutical products and services, establishes it as a key supplier within the intricate and globally interconnected pharmaceutical supply chain.
Questions investors ask about Granules India Ltd (GRANULES).
Quick answers grounded in this page's data — price action, fundamentals, ratios and ownership.
01What is the current share price of Granules India Ltd (GRANULES)?
The current share price of Granules India Ltd (GRANULES) is ₹786.9. Today, the stock has gained by ₹4.80 (0.61%), trading in a range of ₹771.35 to ₹795.6. The stock opened at ₹778.2 with a trading volume of 17,81,812 shares.
02Is Granules India Ltd stock a good investment for long-term?
Granules India Ltd can be considered for long-term investment based on several factors. The company has a market capitalization of ₹19,573.48 crores, P/E ratio of 31.96, ROE of 13.52%, and ROCE of 15.10%. The dividend yield stands at 0.00%. However, investment decisions should be based on your financial goals, risk appetite, and thorough research. It's recommended to consult with a SEBI-registered financial advisor before making investment decisions.
03What is the 52-week high and low price of Granules India Ltd stock?
The 52-week high price of Granules India Ltd (GRANULES) is ₹804.3, while the 52-week low is ₹432.6. Currently trading at ₹786.9, the stock is 95.3% away from its 52-week low and 2.2% below its 52-week high. These levels help investors understand the stock's price volatility and trading range over the past year.
04Should I buy Granules India Ltd stock at the current price?
Whether to buy Granules India Ltd stock at ₹786.9 depends on multiple factors. The stock is currently trading with a P/E ratio of 31.96 and P/B ratio of 3.77. Today's performance shows a gain of 0.61%. Consider analyzing the company's fundamentals, technical indicators, industry trends, and your investment horizon. Compare these metrics with industry peers and consult a financial advisor for personalized advice.
05What is the dividend yield of Granules India Ltd and when is the next dividend?
Granules India Ltd offers a dividend yield of 0.00%, which means for every ₹100 invested at the current price of ₹786.9, you can expect to receive approximately ₹0.00 annually as dividends. The face value of the stock is ₹1.00. For information about the next dividend announcement and ex-dividend date, please check the company's official announcements or visit the BSE/NSE websites.
06What are the key financial ratios and metrics of Granules India Ltd?
Granules India Ltd's key financial metrics include: P/E Ratio: 31.96, P/B Ratio: 3.77, ROE: 13.52%, ROCE: 15.10%, Dividend Yield: 0.00%, EPS: ₹24.47, Book Value: ₹207.62, and Debt-to-Equity: 29.74. The company's market cap stands at ₹19,573.48 crores. These metrics help evaluate the company's valuation, profitability, and financial health.
07How is Granules India Ltd stock performing today in the market?
Granules India Ltd stock opened at ₹778.2 and is currently trading at ₹786.9, showing a gain of ₹4.80 (0.61%). The intraday high is ₹795.6 and low is ₹771.35. The trading volume stands at 17,81,812 shares, indicating strong market participation today.
08What is the P/E ratio of Granules India Ltd and what does it indicate?
Granules India Ltd has a Price-to-Earnings (P/E) ratio of 31.96, which means investors are willing to pay ₹31.96 for every ₹1 of earnings. With an EPS of ₹24.47, this P/E ratio suggests the stock may be trading at a premium, possibly due to high growth expectations. Compare this with industry peers and historical P/E ratios for better context.
The data, ratios and commentary about Granules India Ltd (GRANULES) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.
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