Granules India Ltd.

NSE: GRANULES · Healthcare

₹799.65+0.65%06 Nov 2026

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Instant answers about Granules India Ltd. — computed from its filings, no language model

Market cap₹21,813 cr

Current price₹799.65

High / Low₹909 / ₹533

P/E30.6

P/B3.32

Book value₹240.7

ROE10.9%

ROCE14.6%

Debt / equity0.09

Dividend yield0.17%

EPS (TTM)₹26.16

Face value₹1

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 9 periods

	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	1,692	2,279	2,599	3,238	3,765	4,512	4,506	4,482	5,366
EBITDA	278	384	525	855	722	914	856	945	1,185
Operating margin	16.5%	16.8%	20.2%	26.4%	19.2%	20.3%	19.0%	21.1%	22.1%
Interest	33	28	27	26	23	56	106	103	114
Depreciation	76	105	137	151	159	184	207	226	296
Profit before tax	180	277	426	704	558	687	547	660	785
Tax	63	89	116	155	145	171	142	159	190
Net profit	0	0	0	549	413	517	426	502	595
EPS ₹	5.49	9.30	13.19	22.05	16.66	21.05	16.73	20.69	24.47
Operating cash flow	—	—	—	—	332	739	439	867	793
Capex	—	—	—	—	398	411	381	572	558
Dividend paid	—	—	—	—	37	19	36	36	36
Total assets	2,677	2,983	3,228	3,713	4,513	4,905	5,521	6,253	7,720
Equity	1,304	1,529	1,844	2,173	2,587	2,835	3,226	3,716	5,085

Quarterly performance

last 33 quarters · ₹ crore

showing latest 8 of 33 periods

	MAR '18	SEP '18	DEC '18	MAR '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	504	581	632	613	700	704	600	736	858	845	799	850	888	997	1,030	1,020	1,151	1,146	1,196	986	1,189	1,156	1,176	1,180	967	1,138	1,197	1,210	1,297	1,388	1,471	1,477	1,560
Operating profit	44	101	113	98	144	163	100	184	256	212	202	201	151	174	193	212	243	231	228	137	213	250	256	259	203	230	252	247	278	308	352	339	338
Operating margin	8.7%	17.3%	17.9%	15.9%	20.5%	23.2%	16.7%	25.0%	29.9%	25.1%	25.3%	23.7%	17.0%	17.4%	18.7%	20.7%	21.1%	20.2%	19.1%	13.9%	17.9%	21.7%	21.7%	22.0%	21.0%	20.2%	21.1%	20.4%	21.5%	22.2%	23.9%	22.9%	21.6%
Other income	10	4	6	2	9	4	23	6	3	16	3	8	4	5	4	5	5	1	3	0	2	1	2	2	3	6	2	16	-1	-4	9	2	11
Interest	6	8	7	7	7	7	7	6	6	7	7	7	5	5	6	7	13	17	19	22	26	29	29	27	26	27	24	24	29	29	33	21	21
Depreciation	20	27	27	27	30	39	39	34	36	37	44	39	40	39	40	43	44	48	49	49	53	52	53	53	53	57	64	69	72	74	82	80	84
Profit before tax	27	71	85	65	115	89	137	149	217	184	154	163	110	135	150	166	190	167	164	65	136	170	176	181	128	153	198	145	176	202	262	240	243
Tax	10	23	26	20	19	25	44	38	54	37	26	43	30	34	39	38	45	43	44	18	34	44	46	47	31	35	46	32	45	52	61	60	62
Net profit	0	0	0	0	0	64	0	0	0	0	128	0	0	0	111	128	145	124	120	48	102	126	139	135	97	118	152	110	131	150	202	180	182
EPS ₹	0.81	2.37	2.37	2.52	3.77	2.52	3.63	4.39	6.60	5.92	5.15	4.85	3.26	4.07	4.48	5.14	5.85	5.11	4.94	1.98	4.22	5.18	5.35	5.56	4.01	4.85	6.27	4.64	5.38	6.19	8.23	7.26	7.22
Revenue YoY	—	—	—	21.7%	20.4%	11.4%	-2.2%	—	22.7%	20.0%	33.2%	15.5%	3.5%	18.0%	28.9%	20.0%	29.5%	15.0%	16.1%	-3.3%	3.4%	0.8%	-1.6%	19.7%	-18.7%	-1.5%	1.8%	2.6%	34.2%	22.0%	22.8%	22.0%	20.3%
Profit YoY	—	—	—	—	—	—	—	—	—	-100.0%	—	—	—	—	-13.0%	—	—	—	7.8%	-62.5%	-29.6%	1.1%	16.2%	181.1%	-4.8%	-6.4%	9.4%	-18.0%	34.3%	27.7%	32.6%	63.0%	39.2%

Earlier results (standalone, Sep '07 – Dec '17)

₹ crore · from BSE, before the NSE XBRL filings begin

Granules India Ltd. reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

	FY09†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†
Revenue	316	563	680	1,002	1,162	1,328	1,368
Operating profit	48	73	80	163	215	269	294
Operating margin	15.1%	12.9%	11.7%	16.3%	18.5%	20.2%	21.5%
Other income	1	1	2	4	3	7	16
Interest	18	15	16	19	30	37	32
Depreciation	12	18	21	26	47	58	71
Profit before tax	11	40	44	121	142	181	207
Tax	4	13	14	40	41	60	64
Net profit	7	27	30	81	101	121	143

Quarters

showing latest 8 of 40 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	JUN '10†	SEP '10†	DEC '10†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†
Revenue	50	53	49	62	81	86	87	87	96	101	91	100	110	102	140	156	165	159	168	174	179	209	239	262	292	253	272	320	317	325	333	317	353	337	341	337	352	396	374	413
Operating profit	8	7	8	9	10	14	14	11	15	12	12	11	14	11	16	23	23	18	20	17	25	29	35	45	54	49	55	56	55	64	62	68	75	72	71	73	78	76	72	74
Operating margin	15.4%	14.1%	16.8%	14.9%	12.1%	16.6%	16.6%	13.1%	15.2%	12.2%	13.1%	11.4%	12.9%	11.1%	11.5%	14.6%	13.6%	11.0%	12.0%	9.7%	14.1%	13.8%	14.7%	17.2%	18.5%	19.4%	20.3%	17.6%	17.3%	19.7%	18.7%	21.4%	21.2%	21.3%	20.8%	21.8%	22.1%	19.1%	19.4%	18.0%
Other income	0	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1	0	0	0	1	2	0	0	1	0	0	1	1	2	1	2	2	4	3	6	3	3	10	4
Interest	3	3	3	3	4	6	5	5	4	5	3	3	3	3	3	5	5	4	4	4	4	3	4	4	7	7	7	9	7	8	9	10	9	8	8	8	8	8	10	8
Depreciation	2	2	2	2	3	3	4	4	4	4	4	4	4	4	4	4	5	5	5	5	6	5	5	7	9	10	10	14	13	14	14	15	15	16	18	19	18	18	19	20
Profit before tax	3	3	3	3	4	0	4	7	7	8	3	7	8	4	5	9	22	9	11	8	17	22	26	34	39	33	39	35	36	44	40	45	52	52	48	52	55	53	54	51
Tax	1	1	1	1	1	-0	3	1	1	2	1	2	1	1	2	3	7	3	3	2	6	7	9	11	13	11	13	10	7	14	14	14	18	16	14	17	16	17	18	17
Net profit	2	2	2	3	3	1	1	6	6	6	2	5	6	3	3	6	15	6	8	5	11	15	17	23	26	22	26	24	29	30	27	30	33	36	34	35	38	36	36	34
EPS ₹	1.01	1.14	1.01	1.35	1.37	0.38	0.57	3.09	3.02	2.93	0.95	2.65	3.12	1.54	1.74	2.97	7.37	3.00	3.81	2.70	5.52	7.32	8.56	11.39	12.88	11.01	12.85	11.99	1.40	1.49	1.31	1.48	1.62	1.64	1.54	1.62	1.76	1.55	1.55	1.33
Revenue YoY	—	—	—	—	62.8%	61.7%	75.6%	41.6%	18.4%	18.4%	3.6%	3.9%	8.7%	12.3%	39.8%	41.2%	—	56.5%	19.8%	11.8%	8.2%	31.2%	42.4%	50.7%	63.1%	21.4%	13.7%	21.9%	8.7%	28.4%	22.4%	-0.7%	11.2%	3.7%	2.7%	6.3%	-0.3%	17.2%	9.4%	22.3%
Profit YoY	—	—	—	—	35.6%	-66.4%	-43.6%	129.6%	121.5%	662.3%	-69.4%	-12.4%	6.8%	62.1%	-34.4%	-4.9%	—	95.5%	119.2%	-8.9%	-25.0%	144.7%	125.4%	323.4%	134.8%	51.7%	51.5%	6.1%	9.5%	35.8%	2.6%	24.8%	17.1%	17.3%	25.0%	16.0%	15.1%	-0.2%	6.4%	-4.1%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 26 periods

	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
ROE	3.5%	3.5%	0.0%	5.9%	5.9%	5.9%	5.9%	4.3%	9.2%	14.8%	19.6%	18.2%	15.4%	13.3%	13.3%	12.9%	15.5%	14.5%	14.3%	13.5%	12.8%	12.8%	13.6%	11.7%	13.0%	10.9%
ROCE	19.6%	23.4%	27.0%	24.3%	24.7%	21.2%	19.4%	15.8%	15.9%	18.4%	19.6%	19.1%	16.9%	14.5%	14.8%	14.7%	17.4%	17.3%	16.8%	15.3%	14.5%	13.8%	14.7%	14.0%	15.5%	14.6%
Net margin	2.3%	2.2%	0.0%	3.9%	3.8%	3.8%	3.6%	2.9%	6.1%	9.1%	11.7%	11.4%	9.8%	8.7%	8.7%	9.2%	10.7%	11.1%	11.0%	11.2%	10.6%	10.5%	10.7%	11.0%	11.8%	12.1%
EBITDA margin	21.6%	24.3%	24.7%	26.4%	26.0%	22.7%	20.6%	19.1%	18.5%	19.6%	20.2%	20.3%	18.7%	17.9%	18.3%	19.0%	20.8%	21.6%	21.3%	21.1%	20.7%	20.8%	21.3%	22.1%	22.7%	22.7%
Debt / equity	0.43	0.43	0.43	0.39	0.39	0.39	0.39	0.42	0.42	0.41	0.41	0.37	0.37	0.43	0.43	0.38	0.38	0.29	0.29	0.35	0.35	0.41	0.41	0.26	0.26	0.09
Interest coverage	19.77	24.20	27.40	27.80	27.48	24.22	24.75	25.05	25.03	21.61	16.48	13.29	9.21	7.32	6.59	6.17	7.01	6.95	6.91	7.39	7.23	7.48	7.82	7.86	8.89	10.17
Asset turnover	0.85	0.90	0.94	0.87	0.90	0.91	0.95	0.83	0.87	0.86	0.89	0.92	0.91	0.86	0.86	0.82	0.85	0.82	0.82	0.72	0.72	0.70	0.73	0.70	0.73	0.66

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 18 periods

	MAR '14‡	MAR '15‡	MAR '16‡	MAR '17‡	MAR '18‡	MAR '19‡	MAR '20‡	MAR '21‡	MAR '22‡	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share capital	20	20	22	23	25	25	25	25	25	25	24	24	24	24	24	24	25	27
Other equity / reserves	335	411	640	881	1,279	1,504	1,818	2,149	2,562	2,573	2,811	2,943	3,201	3,403	3,691	3,959	5,060	6,539
Total equity	356	431	662	904	1,304	1,529	1,844	2,173	2,587	2,598	2,835	2,967	3,226	3,427	3,716	3,983	5,085	6,567
Borrowings	410	428	577	598	958	933	793	838	1,093	1,059	1,059	1,285	1,223	1,009	1,286	1,637	1,338	619
Current liabilities	—	—	655	787	878	896	893	1,173	1,642	2,017	1,814	2,069	2,082	1,692	2,003	2,417	2,092	1,748
Non-current liabilities	—	—	247	188	495	557	491	367	284	242	256	228	213	314	534	544	543	557
Total assets	992	1,203	1,563	1,879	2,677	2,983	3,228	3,713	4,513	4,858	4,905	5,265	5,521	5,433	6,253	6,944	7,720	8,872
Property, plant & equipment	375	528	477	569	701	748	989	1,061	1,271	1,431	1,631	1,787	1,856	1,893	2,217	2,612	3,051	3,403
Capital work-in-progress	—	679	77	130	290	324	148	185	312	297	228	219	260	411	437	702	406	434
Investments	0	0	—	—	—	—	—	—	—	21	21	21	22	22	22	1	1	6
Inventories	174	225	254	269	280	384	438	782	979	1,163	1,149	1,280	1,301	1,395	1,343	1,488	1,673	1,861
Receivables	111	137	375	418	628	674	662	765	925	846	949	1,016	986	727	942	761	909	946
Cash & equivalents	42	65	130	42	108	83	186	42	185	395	292	296	381	209	466	609	880	945

Cash flow

annual · ₹ crore · line = free cash flow

showing latest 5 of 13 periods

	FY14‡	FY15‡	FY16‡	FY17‡	FY18‡	FY19‡	FY20‡	FY21‡	FY22	FY23	FY24	FY25	FY26
Cash from operations	108	150	151	188	-1	262	476	432	332	739	439	867	793
Cash from investing	-255	-146	-162	-326	-462	-270	-161	-277	-380	-191	-360	-691	-773
Cash from financing	147	19	86	56	529	-17	-213	-299	190	-440	8	-93	379
Capex	267	148	162	317	446	279	184	271	398	411	381	572	558
Free cash flow	-159	2	-11	-128	-447	-17	292	161	-66	328	59	295	235
Dividends paid	5	8	—	22	29	31	31	25	37	19	36	36	36

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹3,403 cr38%

CWIP

₹434 cr5%

Investments

₹6 cr0%

Inventories

₹1,861 cr21%

Receivables

₹946 cr11%

Cash & equivalents

₹945 cr11%

Other assets

₹1,276 cr14%

Peer comparison

largest in Healthcare · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Sun Pharmaceutical Industries Ltd.	4,46,270	1,860.00	40.7	5.00	12.3%
Divi's Laboratories Ltd.	2,73,493	10,320.50	93.5	16.32	17.5%
Torrent Pharmaceuticals Ltd.	1,80,671	4,750.00	85.1	9.83	11.6%
Laurus Labs Ltd.	1,26,430	2,340.00	94.4	20.86	22.1%
Apollo Hospitals Enterprise Ltd.	1,21,453	8,446.00	54.2	11.45	21.1%
Zydus Lifesciences Ltd.	1,19,550	1,197.90	28.6	4.30	15.0%
Dr. Reddy's Laboratories Ltd.	1,14,646	1,373.00	40.9	2.95	7.2%
Cipla Ltd.	1,13,988	1,411.00	39.3	3.22	8.2%
Mankind Pharma Ltd.	1,04,902	2,540.00	46.7	5.97	12.8%
Aurobindo Pharma Ltd.	1,03,572	1,800.00	26.0	2.63	10.1%
Granules India Ltd.	21,813	799.65	30.6	3.32	10.9%

StoxGud checklist: Bullish setup · 8/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month-5.4%

6 months+7.6%

1 year+40.0%

3Y CAGR+31.6%

5Y CAGR+20.2%

10Y CAGR+21.4%

50-day avg₹838.18

200-day avg₹743.93

RSI (14)42

Compare Granules India Ltd. with

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FAQs

What is the share price of Granules India Ltd.?

Granules India Ltd. (GRANULES) closed at ₹799.65 on NSE on 06 Nov 2026.

What is the market cap of Granules India Ltd.?

₹21,813 crore at the latest close.

What is the P/E ratio of Granules India Ltd.?

30.6, on trailing-twelve-month earnings from its filings.

How fast is Granules India Ltd. growing?

Granules India Ltd.: revenue has compounded at 5.9% a year over three years; net profit at 4.8% a year. Latest-quarter revenue is up 20.3% year on year, profit up 39.2%.

How profitable is Granules India Ltd.?

On a trailing-twelve-month basis return on equity is 10.9%, return on capital employed 14.6%, operating margin 22.7%, net margin 12.1%.

How much debt does Granules India Ltd. have?

Granules India Ltd. is lightly geared: debt to equity is 0.09 with borrowings of ₹619 cr against cash of ₹945 cr (balance sheet of 2026-09-30). Operating profit covers interest 10.2 times.

Financials parsed from Granules India Ltd.'s own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from MAR '18, annual from FY18, balance sheet from Mar '14. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.