Granules India CMD Krishna Prasad Chigurupati
| Photo Credit: Arrangement
Drugmaker Granules India reported consolidated net revenue for the fourth quarter ended March elevated 8% year-on-year to ₹129.64 crore (₹119.60 crore) at the same time as revenue from operations dipped 2%.
Decline in gross sales quantity of paracetamol energetic pharmaceutical ingredient (API), coupled with price erosion, dragged down revenue from operations to ₹1,175.77 crore (₹1,195.5 crore).
Revenue share from the important thing North America market elevated to 70% as towards 58% within the year-earlier interval, whereas formulations, together with merchandise manufactured by the U.S. subsidiary GPI, grew by 41%. APIs, pharmaceutical formulation intermediates and completed dosages contributed 14%, 13%, and 73% of revenue from operations respectively, Granules, which is without doubt one of the largest paracetamol makers, stated on Wednesday.
For the fiscal ended March, consolidated net revenue declined virtually 22% to ₹405.31 crore (₹516.59 crore), whereas revenue from operations at ₹4,506.36 crore (₹4,511.91 crore) was a shade lower.
“We had a strong uptick in gross margin for the Q4 and for the full year, with continued growth in formulations share coming from the U.S. and Europe as part of our global expansion strategy and a higher contribution from new products,” CMD Krishna Prasad Chigurupati stated in a launch.
The fiscal 12 months numbers have been beneath expectations as a result of a cyber incident and low paracetamol demand, he stated. In May 2023, the corporate had confronted an data safety incident that affected a few of its IT property and impacted the revenue and profitability of the corporate. A ransomware group had claimed duty for the incident.
₹1.50 dividend declared
The firm has declared a ultimate dividend of ₹1.50 per share (face worth of ₹1) every for 2023-24. Shares of the drugmaker closed virtually 1% lower at ₹396.15 on the BSE.
