Granules India Q2 FY27: revenue up 20.3% to ₹1,560 Cr, net profit up 39.2% to ₹182 Cr
Results · Finvezto · 2 Nov 2026 · Granules India (GRANULES)
Results Q2 FY27, ₹ Cr
| Q2 FY27 | ₹ Cr | QoQ | YoY |
|---|---|---|---|
| Revenue | 1,560 | +5.6% | +20.3% |
| Operating profit | 338 | -0.4% | +21.4% |
| Net profit | 182 | +1.0% | +39.2% |
| Operating margin | 21.6% | -1.3 pp | +0.2 pp |
| Net margin | 11.7% | -0.5 pp | +1.6 pp |
Key points
- For Q2 FY27, Granules India reported consolidated revenue from operations of Rs 1,560 crore (up 20% YoY from Rs 1,297 crore), EBITDA of Rs 337.6 crore (up 21% YoY from Rs 278.2 crore), and net profit of Rs 181.8 crore (up 39% YoY from Rs 130.6 crore). NSE filing
- The company shifted to a net cash position of Rs 828 crore aided by warrant proceeds, while finished dosages contributed 73% of quarterly revenue. NSE filing
- Revenue for Q2 FY27 grew 20% year-on-year to INR 15,600 million, while profit after tax increased 39% to INR 1,818 million. Earnings call
- Gross margin stood at 64.4%, declining 134 basis points year-on-year due to higher input and freight costs caused by West Asia conflicts. Earnings call
What to watch
- Management on capex plan: This INR2,000 crores growth capex over the next 3 - 4 years will be largely into one, expansion of infrastructure and capacity for peptide CDMO both in Zurich as well as India.
- Management on capacity utilization: So Genome Valley is under 25% or roughly 25% as of now, which we are expecting by Q4, it will cross 50%.
- Operating margin over the last 4 quarters (Dec 25, Mar 26, Jun 26, Sep 26): 22.2%, 23.9%, 22.9%, 21.6%.
- Net profit over the last 4 quarters (Dec 25, Mar 26, Jun 26, Sep 26), ₹ Cr: 150, 202, 180, 182.
Links
NSE filing (PDF) · Company page · Results tracker
Anand Ganapathy K | SEBI Registered Research Analyst | INH000016630.