India's Most Valuable Companies 2024 edition · Source: Hurun India
Rank#384- Valuation
- ₹14,060 Cr
2023 #454 2022 #348 2021 #389
Market Cap
₹22,286 Cr
GRANULES · NSE
Share Price
₹794.75
-2.72% today
Revenue
₹5,366 Cr
FY 2025-26 · +19.7% YoY
EBITDA
₹1,175 Cr
Margin 21.9%
Net Profit
₹605 Cr
FY 2025-26 · +30.0% YoY
P/E (TTM)
33.9x
P/B 3.6x
ROE
13.5%
ROCE 15.2%
Debt / Equity
0.34
Interest cover 13.0x
About Granules India Limited
Data last updated:
Granules India Limited is a public limited company based in Hyderabad, Telangana, India. It operates in the API manufacturers segment of the pharmaceuticals sector. It was incorporated on 18 March 1991 and has been in existence for over 35 years.
Granules India is part of the Nifty 500 and BSE 500 indices. Its director Chigurupati Krishna Prasad is #428 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Hyderabad, under CIN L24110TG1991PLC012471. Its GSTIN is 36AAACG7369K1Z6 (Telangana). The company holds 6 GST registrations, of which 4 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 532482 and NSE: GRANULES.
The company has an authorised share capital of ₹50.5 Cr and a paid-up capital of ₹24.78 Cr. It was formerly known as Granules India Private Limited. It is led by directors including Krishna Prasad Chigurupati (Managing Director) and Harsha Chigurupati (Whole-Time Director).
Its last annual general meeting (AGM) was held on 07 August 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Hyderabad, Telangana.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹5,365.64 Cr, a growth of 19.7% compared to the previous year. For the same year it recorded a net profit of ₹604.81 Cr (net margin 11.3%) and EBITDA of ₹1,175.13 Cr (EBITDA margin 21.9%). The net worth stands at ₹5,085 Cr (up 36.9% YoY). Total assets are valued at ₹6,644.82 Cr (up 27.7% YoY).
The company has about 3,632 employees on its provident fund (EPFO) records. Its group structure includes 3 subsidiaries.
The company is associated with 1 brand: Granules India. As per MCA filings, the company has open charges of ₹905 Cr and satisfied charges of ₹2,314.91 Cr on record. Court records list 86 cases involving the company, including 57 filed by the company and 32 filed against it; 22 cases are pending. The company has 109 deals on record (99 market trades, 6 funding rounds, 3 secondary share transfers), with disclosed funding of ₹260.66 Cr; the latest was in September 2026. Its 10 peer companies in the Pharma industry (API Manufacturers), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 5 larger and 5 smaller; the largest is Alembic Pharmaceuticals Limited with revenue of ₹6,714.63 Cr. The company has 2 MSME Form 1 returns on record for the period ending Sep 2019, listing 34 overdue payments to 15 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website granulesindia.com.
Company details
CIN L24110TG1991PLC012471
Registration Number 012471
Incorporation Date 18 March 1991
ROC Hyderabad
Listing Status Listed - Listed on NSE (GRANULES); Listed on BSE (532482)
Company Status Active
Date of Last AGM 07 August 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
CIN history
Granules India has one previous CIN (Corporate Identification Number): L24110AP1991PLC012471. The current CIN is L24110TG1991PLC012471, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L24110TG1991PLC012471 | Current |
| L24110AP1991PLC012471 | Previous |
Key People
Krishna Prasad Chigurupati Managing Director Harsha Chigurupati Whole-Time Director Umadevi Chigurupati Whole-Time Director Recognitions & Rankings of Granules India
India's Richest People 2026 edition · 1 director · Source: Hurun India
- #428 Chigurupati Krishna Prasad ₹8,700 Cr
Stock market indices
Nifty 500 BSE 500
Contact details
Granules India Limited's registered office is in Hyderabad, Telangana. Its website is granulesindia.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address15th Floor Granules Tower, Botanical Garden Road, Hyderabad, Telangana, India – 500084
- IndustryPharma, API Manufacturers
To see the full contact details of Granules India Limited, buy the company report.
Comprehensive company report
Granules India Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Granules India operates one associated brand: Granules India. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| CDMO focused on manufacturing of active pharmaceutical ingredients | granulesindia.com |
Business activity
The main business activity of Granules India is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products |
To see the full business activity and turnover split of Granules India Limited, buy the company report.
Financials of Granules India Limited
FY 2025-26 filings availableGranules India Limited reported revenue of ₹5,365.64 Cr (up 19.7% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹5,366 Cr
+19.7% YoY
EBITDA
₹1,175 Cr
+24.3% YoY
Profit After Tax
₹605 Cr
+30.0% YoY
Net Worth
₹5,085 Cr
+36.9% YoY
Total Assets
₹6,645 Cr
+27.7% YoY
Total Debt
₹1,512 Cr
+3.9% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 5,366 | 4,482 | 4,506 | 4,512 | 3,765 | 3,238 | 2,599 |
| Revenue growth | +19.7% | -0.6% | -0.1% | +19.8% | +16.3% | +24.6% | - |
| EBITDA | 1,175 | 945 | 856 | 914 | 722 | 855 | 525 |
| EBITDA margin | +21.9% | +21.1% | +19.0% | +20.3% | +19.2% | +26.4% | +20.2% |
| Profit before tax | 785 | 660 | 547 | 687 | 558 | 704 | 451 |
| Net profit | 605 | 465 | 407 | 518 | 416 | 550 | 316 |
| Net profit margin | +11.3% | +10.4% | +9.0% | +11.5% | +11.1% | +17.0% | +12.1% |
| EPS (₹) | 24.01 | 20.68 | 16.72 | 21.34 | 16.64 | 22.18 | 13.19 |
| Balance sheet | |||||||
| Total assets | 6,645 | 5,202 | 4,578 | 4,000 | 3,722 | 3,047 | 2,757 |
| Net worth | 5,085 | 3,716 | 3,226 | 2,835 | 2,587 | 2,173 | 1,844 |
| Total debt | 1,512 | 1,455 | 1,315 | 1,136 | 1,106 | 849 | 892 |
| Cash & bank | 949 | 596 | 386 | 313 | 409 | 271 | 284 |
| Net working capital | 2,730 | 2,096 | 1,986 | 1,678 | 1,728 | 1,332 | 1,206 |
| Cash flow | |||||||
| Cash from operations | 793 | 867 | 439 | 739 | 332 | 432 | 476 |
| Cash from investing | (758) | (689) | (358) | (192) | (379) | (277) | (160) |
| Cash from financing | 379 | (92.51) | 7.66 | (440) | 190 | (299) | (213) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,477 | 1,471 | 1,388 | 1,297 | 1,210 | 1,197 | 1,138 | 967 |
| Revenue growth (YoY) | +22.0% | +22.8% | +22.0% | +34.2% | +2.6% | - | - | - |
| Other income | 2.27 | 24.69 | (3.64) | (1.15) | 16.35 | 32.67 | 5.68 | 3.26 |
| EBITDA | 339 | 352 | 308 | 278 | 221 | 252 | 230 | 203 |
| EBITDA margin | +23.1% | +24.2% | +22.4% | +21.5% | +18.3% | +21.1% | +20.3% | +21.3% |
| Depreciation | 79.65 | 81.75 | 73.53 | 72.02 | 68.85 | 63.50 | 56.61 | 52.52 |
| Interest | 21.12 | 32.69 | 28.69 | 29.19 | 23.78 | 23.98 | 26.57 | 25.67 |
| Profit before tax | 240 | 262 | 202 | 176 | 145 | 198 | 153 | 128 |
| Tax | 60.44 | 60.79 | 52.03 | 45.26 | 31.88 | 45.52 | 35.19 | 31.15 |
| Net profit | 180 | 202 | 150 | 131 | 113 | 152 | 118 | 97.24 |
| EPS (₹) | 7.12 | 8.23 | 6.19 | 5.38 | 4.64 | 6.27 | 4.85 | 4.01 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 3,474 | 3,030 | 3,755 | 3,931 | 3,238 | 3,135 | 2,310 |
| Revenue growth | +14.7% | -19.3% | -4.5% | +21.4% | +3.3% | +35.7% | - |
| EBITDA | 712 | 565 | 801 | 838 | 645 | 861 | 494 |
| EBITDA margin | +20.5% | +18.6% | +21.3% | +21.3% | +19.9% | +27.5% | +21.4% |
| Profit before tax | 536 | 427 | 591 | 664 | 520 | 733 | 553 |
| Net profit | 410 | 283 | 438 | 500 | 390 | 553 | 319 |
| Net profit margin | +11.8% | +9.3% | +11.7% | +12.7% | +12.1% | +17.6% | +13.8% |
| EPS (₹) | 16.17 | 13.17 | 17.99 | 20.61 | 15.58 | 22.32 | 17.47 |
| Balance sheet | |||||||
| Total assets | 5,250 | 4,333 | 4,214 | 3,652 | 3,620 | 3,036 | 2,724 |
| Net worth | 4,399 | 3,403 | 3,111 | 2,699 | 2,531 | 2,163 | 1,812 |
| Total debt | 828 | 899 | 1,065 | 923 | 1,061 | 849 | 891 |
| Cash & bank | 276 | 170 | 228 | 203 | 355 | 241 | 272 |
| Net working capital | 1,583 | 1,499 | 1,873 | 1,490 | 1,608 | 1,257 | 1,097 |
| Cash flow | |||||||
| Cash from operations | 643 | 823 | 317 | 664 | 280 | 375 | 495 |
| Cash from investing | (1,030) | (554) | (302) | (96.71) | (318) | (233) | (165) |
| Cash from financing | 444 | (340) | 26.14 | (519) | 151 | (296) | (212) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 802 | 877 | 895 | 892 | 810 | 768 | 842 | 568 |
| Revenue growth (YoY) | -1.0% | +14.2% | +6.3% | +57.0% | -4.9% | - | - | - |
| Other income | 13.78 | 16.69 | 12.08 | 7.89 | 13.15 | 61.24 | 5.61 | 2.78 |
| Total expenses | 670 | 702 | 701 | 680 | 679 | 651 | 674 | 465 |
| EBITDA | 131 | 175 | 194 | 211 | 131 | 117 | 168 | 103 |
| EBITDA margin | +16.9% | +20.6% | +22.4% | +24.1% | +16.5% | +16.0% | +20.0% | +18.4% |
| Depreciation | 39.06 | 43.64 | 40.59 | 40.74 | 39.51 | 37.97 | 37.66 | 34.75 |
| Interest | 9.61 | 15.71 | 15.40 | 16.65 | 13.67 | 13.49 | 17.21 | 14.56 |
| Profit before tax | 96.56 | 132 | 150 | 162 | 91.45 | 127 | 119 | 56.07 |
| Tax | 24.82 | 33.10 | 38.80 | 41.29 | 21.96 | 32.64 | 28.49 | 14.68 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 23 Oct 2026
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,477 | 1,471 | 1,388 | 1,297 | 1,210 | 1,197 | 1,138 | 967 |
| Revenue growth (YoY) | +22.0% | +22.8% | +22.0% | +34.2% | +2.6% | - | - | - |
| Other income | 2.27 | 24.69 | (3.64) | (1.15) | 16.35 | 32.67 | 5.68 | 3.26 |
| EBITDA | 339 | 352 | 308 | 278 | 221 | 252 | 230 | 203 |
| EBITDA margin | +23.1% | +24.2% | +22.4% | +21.5% | +18.3% | +21.1% | +20.3% | +21.3% |
| Depreciation | 79.65 | 81.75 | 73.53 | 72.02 | 68.85 | 63.50 | 56.61 | 52.52 |
| Interest | 21.12 | 32.69 | 28.69 | 29.19 | 23.78 | 23.98 | 26.57 | 25.67 |
| Profit before tax | 240 | 262 | 202 | 176 | 145 | 198 | 153 | 128 |
| Tax | 60.44 | 60.79 | 52.03 | 45.26 | 31.88 | 45.52 | 35.19 | 31.15 |
| Net profit | 180 | 202 | 150 | 131 | 113 | 152 | 118 | 97.24 |
| EPS (₹) | 7.12 | 8.23 | 6.19 | 5.38 | 4.64 | 6.27 | 4.85 | 4.01 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 5,366 | 4,482 | 4,506 | 4,512 | 3,765 | 3,238 | 2,599 |
| Revenue growth | +19.7% | -0.6% | -0.1% | +19.8% | +16.3% | +24.6% | - |
| Other income | 20.33 | 43.67 | 4.40 | 13.78 | 17.61 | 26.88 | 89.79 |
| Total expenses | 4,191 | 3,536 | 3,650 | 3,598 | 3,043 | 2,382 | 2,073 |
| Employee cost | 849 | 620 | 550 | 420 | 366 | 324 | 259 |
| EBITDA | 1,175 | 945 | 856 | 914 | 722 | 855 | 525 |
| EBITDA margin | +21.9% | +21.1% | +19.0% | +20.3% | +19.2% | +26.4% | +20.2% |
| Depreciation | 296 | 226 | 207 | 184 | 159 | 151 | 137 |
| Interest | 114 | 103 | 106 | 55.93 | 23.21 | 26.28 | 27.02 |
| Profit before tax | 785 | 660 | 547 | 687 | 558 | 704 | 451 |
| Tax | 190 | 159 | 142 | 171 | 145 | 155 | 116 |
| Net profit | 605 | 465 | 407 | 518 | 416 | 550 | 316 |
| Net profit margin | +11.3% | +10.4% | +9.0% | +11.5% | +11.1% | +17.0% | +12.1% |
| EPS (₹) | 24.01 | 20.68 | 16.72 | 21.34 | 16.64 | 22.18 | 13.19 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 24.78 | 24.25 | 24.24 | 24.20 | 24.80 | 24.77 | 25.42 |
| Reserves & surplus | 4,695 | 3,691 | 3,201 | 2,811 | 2,562 | 2,149 | 1,818 |
| Shareholders' funds (net worth) | 5,085 | 3,716 | 3,226 | 2,835 | 2,587 | 2,173 | 1,844 |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.56 | 0.00 | 0.00 |
| Secured loans | 1,144 | 974 | 845 | 792 | 816 | 685 | 804 |
| Unsecured loans | 369 | 481 | 470 | 344 | 291 | 164 | 88.18 |
| Total debt | 1,512 | 1,455 | 1,315 | 1,136 | 1,106 | 849 | 892 |
| Total liabilities | 6,645 | 5,202 | 4,578 | 4,000 | 3,722 | 3,047 | 2,757 |
| Assets | |||||||
| Gross block | 4,988 | 3,882 | 3,352 | 2,981 | 2,462 | 2,145 | 1,875 |
| Net block | 3,250 | 2,426 | 2,096 | 1,911 | 1,541 | 1,332 | 1,204 |
| Capital work in progress | 410 | 440 | 272 | 239 | 356 | 239 | 294 |
| Investments | 0.84 | 22.04 | 21.52 | 21.21 | 19.67 | 18.99 | 19.34 |
| Inventories | 1,673 | 1,343 | 1,301 | 1,149 | 979 | 782 | 438 |
| Sundry debtors | 909 | 942 | 986 | 949 | 925 | 765 | 662 |
| Cash & bank balances | 949 | 596 | 386 | 313 | 409 | 271 | 284 |
| Loans & advances | 236 | 234 | 232 | 163 | 192 | 178 | 244 |
| Total current assets | 3,768 | 3,115 | 2,905 | 2,574 | 2,505 | 1,997 | 1,629 |
| Total current liabilities | 1,038 | 1,019 | 919 | 897 | 777 | 665 | 423 |
| Net working capital | 2,730 | 2,096 | 1,986 | 1,678 | 1,728 | 1,332 | 1,206 |
| Total assets | 6,645 | 5,202 | 4,578 | 4,000 | 3,722 | 3,047 | 2,757 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 466 | 381 | 292 | 185 | 41.84 | 186 | 83.02 |
| Net cash from operating activities | 793 | 867 | 439 | 739 | 332 | 432 | 476 |
| Net cash from investing activities | (758) | (689) | (358) | (192) | (379) | (277) | (160) |
| Net cash from financing activities | 379 | (92.51) | 7.66 | (440) | 190 | (299) | (213) |
| Net change in cash | 414 | 85.01 | 89.54 | 107 | 143 | (144) | 103 |
| Closing cash | 949 | 596 | 386 | 313 | 409 | 271 | 284 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +19.7% | -0.6% | -0.1% | +19.8% | +16.3% | +24.6% | - |
| EBITDA growth | +24.3% | +10.4% | -6.3% | +26.5% | -15.6% | +62.8% | - |
| PBT growth | +18.9% | +20.6% | -20.4% | +23.2% | -20.8% | +56.1% | +38.6% |
| Net income growth | +30.0% | +14.4% | -21.4% | +24.3% | -24.3% | +74.2% | - |
| Revenue CAGR (3Y) | +6.0% | +6.0% | +11.7% | +20.2% | +18.2% | +24.3% | +22.6% |
| EBITDA CAGR (3Y) | +8.7% | +9.4% | +0.0% | +20.3% | +23.4% | +45.4% | +20.7% |
| Profitability & leverage | |||||||
| Net income margin | +11.1% | +11.2% | +9.0% | +11.5% | +11.0% | +17.0% | +12.9% |
| Return on capital employed | +15.2% | +15.6% | +15.2% | +19.3% | +17.2% | +25.2% | +18.1% |
| Return on net worth | +13.5% | +14.5% | +13.4% | +19.1% | +17.3% | +27.4% | +19.9% |
| Debt / equity | 0.34 | 0.40 | 0.40 | 0.41 | 0.41 | 0.43 | 0.56 |
| Long-term debt / equity | 0.11 | 0.09 | 0.06 | 0.09 | 0.12 | 0.19 | 0.27 |
| Interest cover | 13.01 | 14.34 | 16.31 | 7.67 | 4.12 | 3.73 | 6.96 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.21 | 1.24 | 1.42 | 1.66 | 1.63 | 1.61 | 1.55 |
| Inventory turnover | 3.56 | 3.39 | 3.68 | 4.24 | 4.28 | 5.30 | 6.32 |
| Debtors turnover | 5.80 | 4.65 | 4.66 | 4.82 | 4.45 | 4.54 | 3.89 |
| EPS (₹) | 24.01 | 20.68 | 16.72 | 21.34 | 16.64 | 22.18 | 13.19 |
| Dividend per share (₹) | 1.75 | 1.50 | 1.50 | 1.50 | 1.50 | 1.50 | 1.00 |
| Book value per share (₹) | 190.45 | 153.19 | 133.08 | 117.13 | 104.29 | 87.75 | 72.52 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 802 | 877 | 895 | 892 | 810 | 768 | 842 | 568 |
| Revenue growth (YoY) | -1.0% | +14.2% | +6.3% | +57.0% | -4.9% | - | - | - |
| Other income | 13.78 | 16.69 | 12.08 | 7.89 | 13.15 | 61.24 | 5.61 | 2.78 |
| Total expenses | 670 | 702 | 701 | 680 | 679 | 651 | 674 | 465 |
| EBITDA | 131 | 175 | 194 | 211 | 131 | 117 | 168 | 103 |
| EBITDA margin | +16.9% | +20.6% | +22.4% | +24.1% | +16.5% | +16.0% | +20.0% | +18.4% |
| Depreciation | 39.06 | 43.64 | 40.59 | 40.74 | 39.51 | 37.97 | 37.66 | 34.75 |
| Interest | 9.61 | 15.71 | 15.40 | 16.65 | 13.67 | 13.49 | 17.21 | 14.56 |
| Profit before tax | 96.56 | 132 | 150 | 162 | 91.45 | 127 | 119 | 56.07 |
| Tax | 24.82 | 33.10 | 38.80 | 41.29 | 21.96 | 32.64 | 28.49 | 14.68 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 3,474 | 3,030 | 3,755 | 3,931 | 3,238 | 3,135 | 2,310 |
| Revenue growth | +14.7% | -19.3% | -4.5% | +21.4% | +3.3% | +35.7% | - |
| Other income | 49.80 | 71.43 | 5.78 | 9.93 | 17.51 | 13.72 | 188 |
| Total expenses | 2,762 | 2,465 | 2,954 | 3,093 | 2,594 | 2,274 | 1,816 |
| Employee cost | 384 | 342 | 333 | 278 | 248 | 234 | 193 |
| EBITDA | 712 | 565 | 801 | 838 | 645 | 861 | 494 |
| EBITDA margin | +20.5% | +18.6% | +21.3% | +21.3% | +19.9% | +27.5% | +21.4% |
| Depreciation | 164 | 146 | 144 | 146 | 126 | 118 | 102 |
| Interest | 61.44 | 62.78 | 72.00 | 38.67 | 16.35 | 23.77 | 26.86 |
| Profit before tax | 536 | 427 | 591 | 664 | 520 | 733 | 553 |
| Tax | 135 | 108 | 155 | 165 | 133 | 180 | 109 |
| Net profit | 410 | 283 | 438 | 500 | 390 | 553 | 319 |
| Net profit margin | +11.8% | +9.3% | +11.7% | +12.7% | +12.1% | +17.6% | +13.8% |
| EPS (₹) | 16.17 | 13.17 | 17.99 | 20.61 | 15.58 | 22.32 | 17.47 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 24.78 | 24.25 | 24.24 | 24.20 | 24.80 | 24.77 | 25.42 |
| Reserves & surplus | 4,009 | 3,379 | 3,087 | 2,675 | 2,506 | 2,138 | 1,786 |
| Shareholders' funds (net worth) | 4,399 | 3,403 | 3,111 | 2,699 | 2,531 | 2,163 | 1,812 |
| Secured loans | 594 | 479 | 701 | 792 | 816 | 685 | 804 |
| Unsecured loans | 234 | 420 | 364 | 131 | 245 | 164 | 86.99 |
| Total debt | 828 | 899 | 1,065 | 923 | 1,061 | 849 | 891 |
| Total liabilities | 5,250 | 4,333 | 4,214 | 3,652 | 3,620 | 3,036 | 2,724 |
| Assets | |||||||
| Gross block | 2,659 | 2,499 | 2,312 | 2,201 | 1,949 | 1,693 | 1,523 |
| Net block | 1,453 | 1,405 | 1,324 | 1,330 | 1,171 | 985 | 927 |
| Capital work in progress | 118 | 121 | 52.94 | 63.46 | 211 | 164 | 130 |
| Investments | 2,030 | 1,282 | 941 | 677 | 597 | 592 | 445 |
| Inventories | 626 | 648 | 579 | 593 | 591 | 462 | 344 |
| Sundry debtors | 1,247 | 1,295 | 1,633 | 1,372 | 1,210 | 1,014 | 627 |
| Cash & bank balances | 276 | 170 | 228 | 203 | 355 | 241 | 272 |
| Loans & advances | 146 | 174 | 194 | 149 | 174 | 161 | 232 |
| Total current assets | 2,296 | 2,287 | 2,634 | 2,318 | 2,331 | 1,878 | 1,475 |
| Total current liabilities | 713 | 788 | 761 | 828 | 723 | 621 | 377 |
| Net working capital | 1,583 | 1,499 | 1,873 | 1,490 | 1,608 | 1,257 | 1,097 |
| Total assets | 5,250 | 4,333 | 4,214 | 3,652 | 3,620 | 3,036 | 2,724 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 152 | 223 | 182 | 134 | 20.03 | 174 | 56.42 |
| Net cash from operating activities | 643 | 823 | 317 | 664 | 280 | 375 | 495 |
| Net cash from investing activities | (1,030) | (554) | (302) | (96.71) | (318) | (233) | (165) |
| Net cash from financing activities | 444 | (340) | 26.14 | (519) | 151 | (296) | (212) |
| Net change in cash | 57.75 | (70.74) | 41.33 | 47.50 | 114 | (154) | 118 |
| Closing cash | 276 | 170 | 228 | 203 | 355 | 241 | 272 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +14.7% | -19.3% | -4.5% | +21.4% | +3.3% | +35.7% | - |
| EBITDA growth | +26.1% | -29.5% | -4.4% | +30.0% | -25.2% | +74.3% | - |
| PBT growth | +25.4% | -27.8% | -10.9% | +27.8% | -29.1% | +32.5% | +128.8% |
| Net income growth | +44.8% | -35.4% | -12.4% | +28.1% | -29.5% | +73.5% | - |
| Revenue CAGR (3Y) | -4.0% | -2.2% | +6.2% | +19.4% | +15.6% | +23.9% | +19.6% |
| EBITDA CAGR (3Y) | -5.3% | -4.3% | -2.4% | +19.3% | +24.7% | +43.2% | +18.7% |
| Profitability & leverage | |||||||
| Net income margin | +11.5% | +10.5% | +11.6% | +12.7% | +11.9% | +17.6% | +19.2% |
| Return on capital employed | +12.5% | +11.5% | +16.9% | +19.3% | +16.1% | +26.3% | +16.3% |
| Return on net worth | +10.3% | +9.8% | +15.0% | +19.1% | +16.5% | +27.8% | +19.7% |
| Debt / equity | 0.22 | 0.30 | 0.34 | 0.38 | 0.41 | 0.44 | 0.58 |
| Long-term debt / equity | 0.02 | 0.02 | 0.04 | 0.08 | 0.12 | 0.19 | 0.28 |
| Interest cover | 11.22 | 15.00 | 10.95 | 5.58 | 3.15 | 3.20 | 6.85 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.35 | 1.26 | 1.66 | 1.89 | 1.78 | 1.95 | 1.70 |
| Inventory turnover | 5.45 | 4.94 | 6.41 | 6.64 | 6.15 | 7.78 | 7.02 |
| Debtors turnover | 2.73 | 2.07 | 2.50 | 3.04 | 2.91 | 3.82 | 3.47 |
| EPS (₹) | 16.17 | 13.17 | 17.99 | 20.61 | 15.58 | 22.32 | 17.47 |
| Dividend per share (₹) | 1.75 | 1.50 | 1.50 | 1.50 | 1.50 | 1.50 | 1.00 |
| Book value per share (₹) | 162.77 | 140.31 | 128.36 | 111.53 | 102.04 | 87.32 | 71.25 |
To see the full year-wise statements and ratios of Granules India Limited, buy the company report.
Board of directors of Granules India Limited
Granules India has 11 current directors and 21 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Arun Sawhney | Director | 29 Oct 2018 | 7 Years 11 Months | Current |
| Harsha Chigurupati Also directs: Granules Life Sciences Private Limited, Product Armor LLP, Smarter Spirits LLP and 3 more | Whole-Time Director | 26 Jul 2010 | 16 Years 2 Months | Current |
| Umadevi Chigurupati Also directs: Krsma Hospitality LLP, Krsma Vineyards Private Limited, Krsma Estates Private Limited and 5 more | Whole-Time Director | 31 May 2012 | 14 Years 4 Months | Current |
| Basava Sankar Rao Kolli | Director | 19 Feb 2013 | 13 Years 8 Months | Current |
| Krishna Prasad Chigurupati | Managing Director | 31 Aug 1994 | 32 Years 1 Months | Current |
| Palepu Sucharita Rao Also directs: Adithya Automotive Applications Limited | Director | 22 Dec 2021 | 4 Years 10 Months | Current |
Showing 6 of 11 current directors. View all directors
Peer comparison
Granules India Limited is compared with the 10 companies closest to it by revenue in the Pharma industry (API Manufacturers), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Alembic Pharmaceuticals Limited | ₹6,714.63 Cr (FY 2025) | 7.0% | Vadodara, Gujarat, India | |||
| Gland Pharma Ltd | ₹5,830.11 Cr (FY 2025) | 0.0% | Hyderabad, Telangana, India | |||
| Laurus Labs Limited | ₹5,613.89 Cr (FY 2025) | 11.0% | Anakapalle, Andhra Pradesh, India | |||
| Granules India Limitedthis company | ₹5,365.64 Cr (FY 2026) | ₹604.81 Cr | 11.3% | 19.7% | 3,632 | Hyderabad, Telangana, India |
| Usv Private Limited | ₹5,202.13 Cr (FY 2025) | 7.0% | Mumbai, Maharashtra, India | |||
| Natco Pharma Limited | ₹4,784 Cr (FY 2025) | 16.0% | Hyderabad, Telangana, India | |||
| Matrix Pharmacorp Private Limited | ₹4,422.21 Cr (FY 2025) | 16378466.0% | Sangareddy, Telangana, India | |||
| Cadila Pharmaceuticals Limited | ₹3,869.17 Cr (FY 2025) | 4.0% | Ahmedabad, Gujarat, India | |||
| Hetero Drugs Limited | ₹3,323.92 Cr (FY 2025) | 13.0% | Hyderabad, Telangana, India | |||
| Dishman Carbogen Amcis Limited | ₹2,733.18 Cr (FY 2025) | 3.0% | Ahmedabad, Gujarat, India | |||
| Covalent Laboratories Private Limited | ₹2,693.24 Cr (FY 2025) | -8.0% | Hyderabad, Telangana, India |
To see the full peer comparison of Granules India Limited, buy the company report.
Auditor
Granules India Limited is audited by S.R. Batliboi & Associates LLP for the financial year 2025.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S.R. Batliboi & Associates LLP | FY 2025 | 101049W/E300004 |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 38.00%, foreign institutional investors hold 17.50%, domestic institutional investors hold 16.10% and retail and other public shareholders hold 28.40%.
Sep 2026
QUARTER
38.00% Promoters
16.10% DII (Domestic Institutional)
17.50% FII (Foreign Institutional)
28.40% Retail & Others
Promoter holding - history
Now 38.00% · Sep 2026High 38.80% · Dec 2025Low 38.00% · Jun 2026
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 38.00% | 38.00% | 38.80% | 38.80% |
| Public | 62.00% | 62.00% | 61.20% | 61.20% |
Charges & borrowings
Open charges
₹905 Cr
Satisfied charges
₹2,314.91 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 11 Jun 2019 | 100271868 | Others | ₹905 Cr | Open | |
| 20 Feb 2024 | 100881506 | Sbicap Trustee Company Limited | ₹400 Cr | Satisfied | |
| 10 Oct 2017 | 100131530 | Others | ₹315 Cr | Satisfied | |
| 10 Oct 2017 | 100131846 | Others | ₹140 Cr | Satisfied | |
| 30 Dec 2014 | 10540765 | Andhra Bank | ₹20 Cr | Satisfied |
To see the full charge records of Granules India Limited, buy the company report.
Total charge records: 73 View all charges
Deals & funding
Granules India Limited has 109 deals on record (99 market trades, 6 funding rounds, 3 secondary share transfers), with disclosed funding of ₹260.66 Cr; the latest was in September 2026.
Total deals
109
Market trades
99
Funding rounds
6
Secondary share transfers
3
QIP
1
Disclosed funding
₹260.66 Cr
Deals on record (5 of 109)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2026 | Market trade | ₹1,160 Cr | Buyer: Smallcap World Fund Inc, Goldman Sachs Bank Europe Se, Kotak Mahindra Life Insurance Company Limited , an individual Seller: an individual |
| Jan 2025 | Market trade | ₹89.34 Cr | Buyer: L7 Hitech Private Limited Seller: L7 Hitech Private Limited |
| Dec 2024 | Market trade | ₹190.73 Cr | Buyer: Bandhan Mutual Fund, Iti Mutual Fund, Sbi Life Insurance Company Limited , an individual Seller: Fidelity Funds.- India Focus Fund, Fidelity India Fund, Dendana Invest Mauritius Ltd |
| Dec 2024 | Market trade | ₹113.74 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Sep 2024 | Market trade | ₹84.59 Cr | Buyer: Hrti Private Limited Seller: Hrti Private Limited |
To see the full deal history of Granules India Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Granules India Limited has 86 court cases on record: 57 filed by Granules India, 32 filed against it. 22 cases are pending and 64 are disposed.
Total cases
86
Filed by the company
57
Filed against the company
32
Pending
22
Disposed
64
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 53 | 13 | 10 |
| District courts | 28 | 17 | 10 |
| Supreme Court | 5 | 2 | 2 |
Cases on record (5 of 86)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (1901-Energy Laws - Electricity, Petroleum, Oil and Natural Gas : Energy laws - Electricity, Petroleum, Oil and Natural Gas) | Filed against the company by The State of Andhra Pradesh | Pending |
| Supreme Court | Court case (2406-Indirect Taxation : Goods and Services Tax, Integrated Goods and Services Tax, State Goods and Services Tax, UT Goods and Services Tax.) | Filed against the company by Principal Commissioner of Customs Hyderabad | Pending |
| High Court for State of Telangana | Arbitration matter | Filed by the company against M/S. Vibgyor Drugs Private Limited | Pending |
| District court, Hyderabad CCC, Telangana | Court case (COP) | Filed by the company against M/S. Vibgyor Drugs Private Limited | Pending |
| District court, South, Delhi | Civil suit | Filed against the company by Systemair India Pvt Ltd | Pending |
To see the full case history of Granules India Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Granules India Limited was last rated by Indiarating on 20 Mar 2023.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 20 Mar 2023 |
To see the full credit ratings and regulatory alerts of Granules India Limited, buy the company report.
MSME payment delays
Granules India Limited has 2 MSME Form 1 returns on record for the period ending Sep 2019, listing 34 overdue payments to 15 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 15)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Island Veer Chemie Pvt Ltd | |||
| Vijayasri Chemicals | |||
| Yen Flexi Pack | |||
| Gopaldas Visram and Company Limited | |||
| an individual supplier |
To see the full MSME payment records of Granules India Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Granules India has 3 subsidiary companies. This group structure data is as of FY 2025. The table lists each entity with its relationship and holding.
3
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Ascelis Peptides Private Limited | U21001TS2025PTC195163 | |
| Granules Czro Private Limited | U24110TG2023PTC170481 | |
| S,Inc. Granules Life Sciences Private Limited | U24290TG2020PTC146042 |
To see the full group structure of Granules India Limited, buy the company report.
Employees & EPFO
Granules India Limited has a workforce of 3,632 employees on its EPFO records as of Oct 10, 2025, across 4 active EPFO establishments.
Employee count
3,632
Active EPFO establishments
4
Employee growth
0.94%
GST
Granules India has 6 GST registrations: 4 active and 2 cancelled or inactive.
Total GSTINs
6
Active
4
Cancelled / inactive
2
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 36AAACG7369K1Z6 | Telangana | Active | 01 Jul 2017 |
| 36AAACG7369K2Z5 | Telangana | Active | 22 Sep 2017 |
| 37AAACG7369K2Z3 | Andhra Pradesh | Active | 01 Jul 2017 |
| 27AAACG7369K2Z4 | Maharashtra | Active | 13 Sep 2017 |
To see the full GST registrations and return filing status of Granules India Limited, buy the company report.
Recent activity
Granules India Limited has 51 board changes on record since 1991: 31 appointments and 20 cessations. The latest: Venkata Sita Ram Rao Kandiraju ceased to be Managing Director on 31 Jul 2025.
Charges
A charge with Others of Rs. 905.00 Cr registered on 11 Jun 2019 with Charge ID 100271868 was modified on 06 May 2026.
Filing
Granules India Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Hyderabad.
Charges
A charge registered on 10 Oct 2017 via Charge ID 100131530 with Others was fully satisfied on 29 Sep 2025.
AGM
Granules India Limited last Annual general meeting of members was held on 07 Aug 2025 as per latest MCA records.
Ceased
Venkata Sita Ram Rao Kandiraju ceased to be Managing Director.
Charges
A charge registered on 20 Feb 2024 via Charge ID 100881506 with Sbicap Trustee Company Limited was fully satisfied on 26 May 2025.
Ceased
Arun Rao Akinepally ceased to be Director.
Charges
A charge with Sbicap Trustee Company Limited amounted to Rs. 400.00 Cr with Charge ID 100881506 was registered on 20 Feb 2024.
Appointed
Rajiv Pritidas Kakodkar was appointed as Director.
Appointed
Priyanka Chigurupati was appointed as Whole-Time Director.
Appointed
Sethurathnam Ravi was appointed as Director.
Appointed
Kapil Mehan was appointed as Director.
214 earlier events are in the company report.
News
Granules India: US FDA Starts Inspection Of Granules India's Gagillapur Facility Today
Granules India: Co Says First-to-file Opportunities Are An Important Part Of Our Strategy To Build A More Differentiated And Higher-value Product Portfolio In The U.S
Granules India: Achieves Potential Sole First-To-File Status For Ruxolitinib Extended-Release Tablets ANDA.
Granules India: Company Plans ₹2,000 Crore Investment in Organic Growth Over 3-4 Years, Peptide CDMO Division Aims for $50 Million in Revenue in 3 Years and $100 Million in 5 Years.
Frequently asked questions
Granules India is an active public limited company based in Hyderabad, Telangana, India. The company works in api manufacturers, within the pharma industry. It was incorporated on 18 March 1991 (35+ years old) and is registered under CIN L24110TG1991PLC012471. Listed on BSE: 532482 and NSE: GRANULES.
Granules India reported revenue of ₹5,365.64 Cr for FY 2025-26 (up 19.7% YoY) based on consolidated financials.
Granules India has 11 current directors:
- Krishna Prasad Chigurupati - Managing Director
- Harsha Chigurupati - Whole-Time Director
- Umadevi Chigurupati - Whole-Time Director
- Priyanka Chigurupati - Whole-Time Director
- Arun Sawhney - Director
- Basava Sankar Rao Kolli - Director
- Palepu Sucharita Rao - Director
- Saumen Chakraborty - Director
- Sethurathnam Ravi - Director
- Rajiv Pritidas Kakodkar - Director
- Kapil Mehan - Director
The latest financial statements of Granules India on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 07 August 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Granules India is 36AAACG7369K1Z6, registered in Telangana. The company has 6 GST registrations in all, of which 4 are active and 2 are cancelled or inactive. Other active GSTINs include 36AAACG7369K2Z5 (Telangana), 37AAACG7369K2Z3 (Andhra Pradesh), 27AAACG7369K2Z4 (Maharashtra).
The CIN (Corporate Identification Number) of Granules India is L24110TG1991PLC012471. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Granules India is a listed company as per MCA records. Its shares are listed on both BSE (code: 532482) and NSE (symbol: GRANULES).
Granules India has 86 court cases on record: 57 filed by the company and 32 filed against it. 22 are pending. Most are in the high courts.
Granules India was incorporated on 18 March 1991, making it 35+ years old. It is registered with the Registrar of Companies, Hyderabad.
Granules India has 109 deals on record (99 market trades, 6 funding rounds, 3 secondary share transfers), with disclosed funding of ₹260.66 Cr; the latest was in September 2026.
The peers of Granules India by revenue are Alembic Pharmaceuticals Limited, Gland Pharma Ltd, Laurus Labs Limited, Usv Private Limited, Natco Pharma Limited and 5 more, all in the Pharma industry (API Manufacturers), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Venkata Sita Ram Rao Kandiraju ceased to be Managing Director on 31 Jul 2025. Arun Rao Akinepally ceased to be Director on 31 Mar 2024. Rajiv Pritidas Kakodkar was appointed as Director on 20 Feb 2024. Granules India has 51 board changes on record in total.