Q2 PAT Granules up 80% YoY; net debt to EBITDA at 0.61x

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EBITDA improved by 61% to Rs 243 crore in Q2 FY23 from Rs 151 crore in Q2 FY22. EBITDA margin was 21% in Q2 FY23 versus 17% in Q2 FY22. The share of company revenue from the United States increased to 57.8% from 53.8% year-on-year. Additionally, Active Pharmaceutical Ingredients (APIs), Pharmaceutical Formulation Intermediates (PFIs), and Finished Dosages contribute 29%, 20%, and 51% of operating revenue, respectively. Free cash flow stood at Rs 124 crore for Q2 FY23 compared to Rs 32 crore for Q2 FY22. ROCE for Q2 FY23 increased to 25% from 21.8% YoY. Net debt for Q2 FY23 stood at Rs 554 crore compared to Rs 613 crore in Q1 FY23. Net debt to EBITDA was 0.61x in Q2 FY23. Dr Krishna Prasad Chigurupati, President and Managing Director of Granules India, said: “The current quarter result is a combination of our relentless focus on supply reliability and customer satisfaction and our ability to meet and meet higher demand with a short lead time. The opportunities in paracetamol should continue and our geographic expansion strategy in Europe should generate higher revenue and EBITDA in the periods to come. Granules India is a rapidly growing vertically integrated Indian pharmaceutical company. It is present across the entire manufacturing value chain – from Active Pharmaceutical Ingredients (APIs), Pharmaceutical Formulation Intermediates (PFIs) and Finished Dosages (FDs). The certificate fell 2.98% to currently trade at Rs 345.15 on BSE. Powered by Capital Market – Live News

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