The company said the major growth contribution was due to a significant increase in production to cater to new product launches and increase in market share of existing products across the three verticals. The company launched Colchicine tablets and Butalbital APAP caffeine tablets through Granules Pharmaceutical Inc (GPI) during the quarter.
Emkay Global Financial Services had expected Granules India
to report Ebitda margin of 23.2 per cent for the quarter. Net sales and net profit were expected at Rs 673 crore and Rs 91.2 crore, respectively.
“Strong revenue growth will be led by resumption of Paracetamol exports and deferred sales from Q4. Margins should improve quarter on quarter due to higher US$ realizations, higher contribution from formulations and USD 3 million one-off impairment charge in Q4 base,” the brokerage firm had said in pharma sector update.
At 12:50 pm, the stock was trading 6 per cent higher at Rs 261 on the BSE, as compared to 0.56 per cent rise in the S&P BSE Sensex. The trading volumes on the counter jumped 3-fold with a combined 16.7 million equity shares changing hands on the NSE and BSE so far.