Granules India GRANULES
Vertically integrated maker of high-volume molecules (paracetamol, metformin, ibuprofen) from KSM to API to formulations, mainly for the US
Mapped in 1 theme: Pharmaceuticals.
Where Granules India sits in the supply chain
Granules India appears in 3 supply-chain layers in one theme, Pharmaceuticals.
Pharmaceuticals › Generics (US & export)
Direct supplierOther companies in this layer
Pharmaceuticals › APIs (active ingredients)
Direct supplierOther companies in this layer
Pharmaceuticals › KSMs & intermediates
Direct supplierOther companies in this layer
Revenue and profit
| ₹ Cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 4,506 | 4,482 | 5,366 |
| Net profit | 405 | 502 | 595 |
Latest-year revenue ₹5,366 Cr (FY26, company-wide). Wider screens show FY22 onwards.
Strengths
- Cost leadership in a few large-volume molecules with integration from PAP (KSM) through finished dosage
- Building a US formulation base and peptide CDMO (Senn Chemicals, Switzerland)
- FY26 profit +19% with improving mix
Risks
- Gagillapur warning letter (Feb 2025) blocks new approvals from that site (nine products awaiting)
- Molecule concentration exposes it to Chinese price cuts
- US generic tariff clock
Common questions
What does Granules India do?
Vertically integrated maker of high-volume molecules (paracetamol, metformin, ibuprofen) from KSM to API to formulations, mainly for the US.
Where does Granules India sit in the supply chain?
Granules India (NSE: GRANULES) is mapped in 3 supply-chain layers: Generics (US & export) (Pharmaceuticals), APIs (active ingredients) (Pharmaceuticals) and KSMs & intermediates (Pharmaceuticals).
Who are Granules India's peers?
In the Generics (US & export) layer of Pharmaceuticals: Dr Reddy's Laboratories, Aurobindo Pharma, Lupin, Zydus Lifesciences, Cipla, Sun Pharmaceutical Industries and 6 more.
What is Granules India's market cap and valuation?
As of 30 Oct 2026: market cap ₹22,927 Cr, P/E 35.3x, ROCE 15.5%, ROE 13.8%, dividend yield 0.21%.