Granules India Q4 Review - Strong Growth; Headwinds On Supply Front To Affect Margins: KRChoksey
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KRChoksey Research Report
Granules India Ltd. reported revenue growth of 33.2% YoY (down 5.4% QoQ) to Rs 79,931 lakh in Q4 FY21.
QoQ decline was largely due to loss of Acetaminophen (paracetamol) active pharmaceutical ingredient sales in the quarter, owing to shortage of its key starting materials.
Consequently, Ebitda grew 102.1% YoY (down 4.5% QoQ) to Rs 20,201 lakh in Q4 FY21 while Ebitda margin expanded to 25.3% in Q4 FY21 (up 861 basis points YoY / 22 bps QoQ).
Net profit grew 38.2% YoY, however, declined 13.1% QoQ to Rs 12,757 lakh.
The products mix is rising towards high-margin finished drugs segment, leading to huge margin expansion YoY.
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