Granules India Limited has achieved a landmark fiscal year 2026, crossing the ₹50,000 million revenue milestone. The company reported a 20% year-on-year revenue growth to ₹53,656 million, fueled by a successful shift toward high-barrier Complex Generics and the launch of new growth engines like Peptide CDMO. With structural margin expansion and disciplined capital allocation, Granules continues to strengthen its global presence, particularly in North America and Europe.
Financial Performance Highlights
For the financial year ended March 31, 2026, Granules India delivered robust growth across key financial metrics. The company reported revenue of ₹53,656 million, a 20% increase compared to the previous year. EBITDA grew by 25% to reach ₹11,851 million, with margins expanding to 22.1%. Profit After Tax (PAT) stood at ₹5,950 million, marking a 19% year-on-year growth.
Strategic Portfolio Transformation
Granules is successfully executing its transition from a volume-driven model to a value-driven business. The share of Complex Generics within its finished dosage portfolio has surged to 43%, up from 31% in the prior year. The company’s commitment to innovation is reflected in its R&D spending, which represents 5.3% of sales (₹2,853 million), focusing on complex formulations and oncology products.
Emerging Growth Engines
The Peptide CDMO platform has emerged as a significant new revenue vertical, contributing ₹1,593 million in FY26. This segment achieved a breakeven in Q4FY26, signaling strong potential for long-term value creation. Additionally, the company’s geographical diversification strategy is yielding results, with Europe emerging as a high-momentum market with near-doubling performance, while North America remains the core anchor for growth.
Operational Efficiency and Capital Discipline
Granules continues to demonstrate strong capital discipline. The company maintained a Net Debt to EBITDA ratio of 0.34x, significantly reduced from previous levels. In FY26, capital expenditure totaled ₹5,547 million, directed toward capacity expansion projects including the Genome Valley facility and the MUPS (Multi-Unit Particulate System) plant. These strategic investments are designed to support sustained future growth while maintaining robust operational standards.
Source: BSE
