Granules India Ltd reported a strong performance for the third quarter ended December 31, 2025, with revenue from operations rising 22 per cent year-on-year to ₹13,879 million, driven primarily by growth in its finished dosages business in North America and Europe.
The pharmaceutical company’s EBITDA for the quarter increased 34 per cent YoY to ₹3,081 million, with margins improving to 22 per cent compared to 20 per cent in the year-ago period. Profit before tax (PBT) stood at ₹2,022 million, up 32 per cent YoY, while profit after tax (PAT) rose 28 per cent to ₹1,502 million.
On a sequential basis, revenue grew 7 per cent, while EBITDA and PAT rose 11 per cent and 15 per cent, respectively.
Finished dosages accounted for 76 per cent of Granules India’s revenue during the quarter, followed by active pharmaceutical ingredients (11 per cent), pharmaceutical formulation intermediates (11 per cent), and peptides/CDMO (2 per cent). The company’s return on capital employed (ROCE) improved to 16.8 per cent post the acquisition of Senn Chemicals AG, compared to 16.4 per cent a year earlier.
Net debt stood at ₹10,151 million, with a net debt-to-EBITDA ratio of 0.91x at the end of the quarter.
Commenting on the performance, Dr Krishna Prasad Chigurupati, Chairman and Managing Director of Granules India, said the quarter was among the company’s strongest, reflecting disciplined execution of its growth strategy. He added that continued investments in R&D, ESG initiatives, and expansion of the global supply footprint position the company for sustained long-term growth.
