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13.10.2019

AAKASHAYA PATRA EXCLUSIVE STOCK FOR INVESTMENT:

GRANULES INDIA LTD
(CMP 100)
 ENTER LEVEL – 95 TO 100 STOPLOSS 85 TARGET 130-150 IN 12 MONTHS

Granules India Limited is a largescale vertically integrated Company founded in 1991 manufacturing Active Pharmaceutical Ingredient (API), Pharmaceutical Formulation Intermediate (PFI) and Finished Dosage (FD). With a strong presence across all three vertical, the Company has created a leadership position in the off-patent drugs segment along with ensuring a strong presence in 'first line of defense' products such as Paracetamol, Ibuprofen, Metformin and Guaifenesin. The Company,in line with its vision "to be the global leader in pharmaceutical manufacturing by process innovation and unparalleled efficiencies" has a global presence across 60+ countries servicing over 250 customers. With exports comprising over 80 percent of total revenue, Granules is today the preferred supplier for some of the world's leading pharma branded and generics companies.Dedicated to excellence in manufacturing, quality and customer service, it possesses one of largest PFI and single site FD facilities in the world. It is also home to one of the World's largest Paracetamol API facilities. Company is having 4 operational plants located in Hyderabad (Jeedimetla, Bonthapally and Gagillapur) and 1 in Vizag Pharma City.
It has an equity base of just Rs.25.42crore that is supported by reserve of around Rs.1504.05.Promoters hold 42.90%, FIIs hold 13.88%, Other DIIs hold 3.11% while investing public hold 40.11% stake in the company.Company had posted excellent numbers for FY19. Its PAT zoomed 78.30% Rs.236.41crore as against Rs.132.59crore in FY18 on 34.72% higher sales of Rs.2279.20crore fetching an EPS of Rs.9.30. It had reported strong numbers for Q1FY20 also. Its PAT zoomed 60.71% to Rs.83.24crore against Rs.51.80crore on 31.34% higher sales of Rs.595.27crore fetching an EPS of Rs.3.27.Currently, the stock trades at a P/E of just 9.8x. It has paid 50% interim dividend for FY19 and paid 25% final dividend for FY19. It declares 25% interim dividend for FY20. "We continue our growth momentum with the first quarter of FY20 showing encouraging results.Our total Revenue from operations increased by 31% and net profit by 61% compared to the same period of previous year. The sustained growth in our high volume based molecules business and our unwavering focus on U5 market enabled us to achieve the growth. One of the key pillars of our business model has been driving operational efficiencies and along with it a better product mix helped us improve the Operating and Net profit margins in this quarter. During the quarter we have filed 3 ANDAs and received approval for 2 ANDAs from US FDA filed earlier. In continuation to our commitment to improve the leverage position of the Company, this quarter has also witnessed improvement in our net debt position." said Mr. Krishna Prasad Chigurupati, Chairman & Managing Director of Granules India Limited.

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