KRChoksey: Granules India Q1 Reports Higher Contribution From FD & PFI, Better Realizations In API Drives Topline Growth

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..KRChoksey Report.Granules India beat our Q1 FY21 revenue estimates by 14.1% and posted a growth of 23.6% YoY on Q1 FY20. Growth in the quarter was driven by increase in market share of the base business with increased demand and pricing for core molecules , and higher contribution from Pharmaceutical Formulation Intermediaries (PFI) and Finished Dosages (FD) with new launches. Contribution from FD increased to 52% (+35.2%/12.1 YoY/QoQ) in Q1 FY21 from 48% in Q1 FY20 and PFI increased to 19% (42.0%/76.6% YoY/QoQ) from 16% in Q1 FY20.Geography wise, India business grew 10.5% YoY (-16.1% QoQ, 11% of revenue), North America grew 26.8% YoY (+10.6% QoQ, 52% of revenue), Europe grew 8.8% YoY (+62.6% QoQ, 19% of revenue), Latin America grew 70.7% YoY (up 70.7% QoQ, 12% of revenue) while Rest of the World (ROW) which contributes 6% grew 11.6% YoY (up 147.4% QoQ). Company launched Colchicine tablets and Butalbital APAP caffeine tablets through GPI during the quarter. Company also filed three Abbreviated New Drug Application (ANDA)s/ Dossiers in the North American and European markets and received approvals for six ANDAs (including one tentative approval) from the United State Food and Drug Administration (USFDA) during the quarter..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

KRChoksey: Granules India Q1 Reports Higher Contribution From FD & PFI, Better Realizations In API Drives Topline Growth

Granules India beat our Q1 FY21 revenue estimates by 14.1% and posted a growth of 23.6% YoY on Q1 FY20, KRChoksey says.

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