Motilal Oswal: Granules India - Making Strong Headway 
Tablets exit a machine (Photographer Krisztian Bocsi/Bloomberg)

Motilal Oswal: Granules India - Making Strong Headway 

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Granules India Ltd. continued to break its own record with another quarter of remarkable performance across revenue/Ebitda/profit after tax.

This is largely on account of strong traction in formulations (finished drugs), pharmaceutical formulation intermediates (PFIs), and the addition of new customers in the active pharmaceutical ingredient segment.

We raise our earning per share estimate by 21% for FY21/22E to factor in-

1. niche Abbreviated New Drug Application launches, 2. a superior product mix, 3. geographic expansion, and 4. better operating leverage.

Click on the attachment to read the full report:

Motilal Oswal Granules India Q2FY21 Result Update.pdf


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