Granules India Q2 FY27: revenue up 20% YoY to ₹15,600 Mn, PAT up 39%
Q2 FY27 revenue up 20% YoY to ₹15,600 Mn; PAT up 39% to ₹1,818 Mn; gross margin down 134 bps YoY to 64.4%.
By ScoutQuest · · 1 min read
- Revenue
- Q2 FY27 revenue up 20% YoY to ₹15,600 Mn
- PAT
- PAT up 39% to ₹1,818 Mn
- EBITDA
- EBITDA of ₹3,376 Mn at a 21.6% margin, up 19 bps YoY
- Period
- Q2 FY27
- Positioning
- Company presents itself as a net-cash generics maker ranked #1 in 11 of 38 US products and Top-3 in 19, with North America at 72% of revenue and Complex Gx at 49% of its FD portfolio.
📉 Q2 FY27 revenue rose 20% year on year to ₹15,600 Mn and PAT 39% to ₹1,818 Mn, with EBITDA of ₹3,376 Mn at a 21.6% margin, up 19 bps YoY; gross margin slipped 134 bps YoY to 64.4% on elevated input costs, and the Peptide CDMO unit reported an EBITDA loss of ₹152 Mn.
🌍 Segment revenue grew across the portfolio: FD ₹11,417 Mn (+18% YoY), API ₹2,091 Mn (+23% YoY), PFI ₹1,604 Mn (+20% YoY) and CDMO ₹488 Mn (+77% YoY); North America, at 72% of revenue, grew 14% YoY, while the deck calls Europe the key growth market at +65% YoY.
📉 Receipt of the balance warrant proceeds moved the company to a net cash position of ₹8,280 Mn and net debt/EBITDA of -0.61x; ROCE was 17.6%, up 138 bps YoY, but cash flow from operations fell to ₹650 Mn from ₹1,937 Mn in Q2 FY26 on planned working-capital investment to support growth.
🏭 Management says the net-cash balance sheet funds ~₹20,000 Mn of organic capex over 3–4 years; the presentation lists four growth engines — CII scale-up, an oncology reset restarting FY29, peptides and CDMO scale-up, and new vectors under consideration — plus a playbook switch to Para IV and early launches, with multiple updates FY27 into FY29.
Also from Granules India
Granules India Q2 FY27 release: net cash of ₹8,280 million, ROCE 17.6%, North America share slips to 72%
2 Nov 2026
Board approves Sept-quarter results with unmodified auditor review; warrants converted into equity
2 Nov 2026
Granules India's Gagillapur facility completes USFDA inspection with eleven observations
30 Oct 2026
More numbers
- Revenue, Q2 FY27₹15,600 Mn
- EBITDA, Q2 FY27₹3,376 Mn
- PAT, Q2 FY27₹1,818 Mn
- Gross margin, Q2 FY2764.4%
- Revenue growth YoY, Q2 FY2720%
- PAT growth YoY, Q2 FY2739%
- ROCE, Q2 FY2717.6%
- Net cash position8,280 Mn
- Cash flow from operations, Q2 FY27₹650 Mn
- Senn Chemicals AG acquisition EV₹4,500 Mn
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